Global Specialty Bakery Market 2018-2022
About Specialty Bakery
Specialty bakery market includes bakery food products that are prepared or customized according to the tastes, preferences, need, and demand of the consumers. The specialty bakery market keeps into consideration the dietary needs of the people along with special needs of the consumers who are allergic or sensitive to certain foods.
Technavio’s analysts forecast the global specialty bakery market to grow at a CAGR of 4.68% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global specialty bakery market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Specialty Bakery Market 2018-2022
Technavio recognizes the following companies as the key players in the global specialty bakery market: Aryzta, Grupo Bimbo, Flowers Foods, Lantmännen Unibake, and Yamazaki Baking.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is emergence of hybrid bakery products. Innovation is an important tool to increase the engagement of consumers. Even in the specialty bakery products market, experimentation has become an important driver that is helping the market attract new consumers and retain them. Consumers, especially millennials, look for new varieties.”
According to the report, one driver in the market is growing demand for functional ingredients. Functional ingredients are health-promoting and energy-boosting ingredients, which are used to enhance the nutritional value of bakery products. Some examples of functional ingredients are oats, legumes, nuts, probiotics, cereals, and fortified margarine.
Further, the report states that one challenge in the market is less popular than other bakery products. The specialty bakery market is still in introduction stage. Although the growth rate for specialty bakery foods is higher than the growth rate for other packaged bakery foods, the popularity of these products is lesser than that of fresh bakery and packaged bakery.
Aryzta, Grupo Bimbo, Flowers Foods, Lantmännen Unibake, and Yamazaki Baking.