Bakery Products Market 2030: Innovations in Gluten-Free Options
Bakery Products Market Growth & Trends The global bakery product market size is expected to reach USD 714.1 billion by 2030, registering a CAGR of 5.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market is majorly driven by the growing product demand owing to time-constrained lifestyles of customers resulting in increased on-the-go food consumption. The major companies are involved in continuous innovation and introduction of novel flavors owing to high industry rivalry. High demand for Ready-to-Eat (RTE) foods, owing to hectic lifestyle, is also contributing to the market growth. Cakes & pastries segment led the market in 2018, accounting for 27.4% of the global revenue share. It was followed by cookies as the second-largest segment, owing to rapid urbanization, rising income levels, and altering food experiences. Many bakery product manufacturers are doing backward integration, which would help ensure and enhance the product qualit...