The specialty bakery market share is projected to rise by USD 10.54 billion from 2021 to 2026 at a progressive CAGR of 4% as per the latest market report by Technavio. The increasing need for free-from food is one of the key specialty bakery market trends that is expected to impact the industry positively in the forecast period. These ingredients include organic baking products and ingredients, such as aluminum-free baking powder, gluten-free flour, and organic baking flour. Consumers are willing to pay high prices owing to the growing popularity of organic food. Many consumers have reduced the consumption of white bread and have shifted to organic whole-wheat bread. The demand for gourmet and custom-made cuisine at affordable prices has also increased.
The competitive scenario provided in the Specialty Bakery Market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc. Don’t wait, Make a strategic approach & boost your business goals with our Specialty Bakery Market Forecast Report – Buy Now!
Specialty Bakery Market: Major Growth Drivers
The key factor driving the global specialty bakery market growth is the growing demand for functional ingredients that are health-promoting and energy-boosting. Some examples of functional ingredients are oats, legumes, nuts, probiotics, cereals, and fortified margarine. With growing concerns regarding a healthy lifestyle among consumers, bakery manufacturers have introduced the use of such ingredients in their offerings. In addition, functional ingredients confer tenderness, moisture, and structural strength to the products and also support the mixing, depositing, and baking of ingredients. Manufacturers have introduced newer healthy ingredients. For instance, the usage of nut meal and nut flour is increasing among manufacturers as they are gluten-free ingredients and blend easily with other ingredients. Such factors will drive the market growth in the forecast period. The holistic analysis of the drivers & challenges will help in deducing end goals and refining marketing strategies to gain a competitive edge.
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