Bread Market is Expected to Grow at a CAGR of 3.6% During the Forecast Period 2020 - 2027
The bread market is bifurcated based on nature as conventional and organic. The conventional segment dominated the global bread market whereas the organic segment is expected to grow at the fastest growth rate during the forecast period. There are various preservatives that are used in conventional bread, such as Genetically Modified Organisms (GMOs). The GMOs are non-natural organisms that can affect the ecosystem. Other preservatives used are hydrogenated acid and artificial colors. The rising use of conventional bread in various salads and dressings has been a contributing factor for the global rise and expansion of the bread market.
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Bread is a staple food that constitutes a significant part of daily consumer diet, has tailored to more functional demand. Fresh multigrain, low-carb, high-fiber, and fortified bread that appeals to health-conscious consumers has prompted the growth of the bread market. Besides, owing to their functional health benefits several functional ingredients such as yogurt, yeast are used as natural preservatives, antioxidants, and enzymes in bread. Organic, natural, and health claims on bread are the vital attributes that attract the consumer in large numbers. Consumer preference for health trends such as cholesterol reduction, weight management, high protein, and sugar control are encouraging market players to develop new & innovative health beneficiary products. Thus they are focusing on the introduction of products that are clearly labeled, free from additives, and provides nutritional benefits to the consumer. Rising consumer preference for value-added, ethnic, fresh, and artisanal bread is expected to drive the sales of bread oncoming years.
The market for global bread is concentrated with some very well-established players. Some of the key players in the global bread market include Associated British Foods Plc, Almarai Company, Barilla G. E R. Fratelli S.P.A, Aryzta Ag, Britannia Industries Ltd, Campbell Soup Company, Finsbury Food Group Plc, Fuji Baking Co., Ltd., And Goodman Fielder Pty., Ltd among others among others.