A recent survey conducted by the Craft Bakers Association (CBA) has revealed top trends that they expect to the bakery industry to witness in 2023.
In spite of the cost of living crisis and the challenges it brings to the craft bakery sector, the survey indicates that bakers hope for opportunities ahead, as they expect consumers to change their buying habits in response to the economic crisis.
In 2023, convenience is expected to be popular among consumers with almost half (46%) of bakers expecting customers to shop locally. 41% are expecting lunch on the go to grow in popularity; these changes in buying habits potentially being driven by the cost of living which has seen customers encouraged to support small, local businesses and resulted in a decline of the number of consumers who eat out, particularly for lunch.
The survey also reflects the “tough economic climate” and bakers’ concerns as they look to 2023 and beyond. The cost of fuel and ingredients has risen significantly, as half are concerned about a potential decline in sales as a consequence of rising prices for consumers. 55% of bakers believe demand for low-cost loaves will increase and people will be less inclined to treat themselves with indulgent products including personalised items.
2022 witnessed continued growth in consumer interest in their own health and going into 2023, only 3% of bakers see HFSS regulations as a challenge and 52% will not be making changes to their offerings.
“There’s no question that the ongoing cost of living crisis has posed a threat to our members and the craft bakery industry in 2022 and we aren’t expecting this to end anytime soon,” said Karen Dear, Director of Operations at Craft Bakers Association. “However, we are continuously working hard, alongside our members, to ensure sufficient support is available and we are pleased to see that despite obvious concerns, our members still see some opportunities ahead. Our members have shown tremendous resilience and innovation over the last two years, despite unprecedented challenges and I am confident that they will continue to do so and ultimately, that the sector will continue to remain resilient in the current climate.”
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