DUBLIN, Nov 29, 2016 /PRNewswire/ -- Research and Markets has announced the addition of the "Global Bakery Market 2016-2020" report to their offering.
The analysts forecast the global bakery market to grow at a CAGR of 6.55% during the period 2016-2020. Global Bakery Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. A recent trend seen in the bakery industry is the growing consumer preference for organic baking ingredients such organic baking flours, aluminum-free baking powder, and gluten-free products. Growing health consciousness and the benefits of natural organic baking ingredients, especially natural flavors, sweeteners, and oils, are boosting the demand for organic products. According to the report, rising consumption of cakes and pastries will drive growth in the market. There is high demand for cakes as a result of an increase in indulgent consumption. The demand for on-the-go snacks is also contributing to the demand for cakes and pastries. The sales of chocolate-based cakes increased by 19% between 2007 and 2012. Consumption of these products is usually unaffected by the prevailing economic conditions. Premium varieties in unique flavors are also much in demand and drive the snacks and pastries market. Further, the report states that lower shelf life and threat of contamination may hinder growth in the market. Many bakery goods such as artisanal bread, cakes, and bagels are developed and served for immediate consumption or consumption within a day. The ingredients such as oil, fat, and baking soda contribute to the freshness of the products. Packaging requirements for fresh bakery goods are often minimal as many of the products are consumed immediately. Keeping the products for long periods may tarnish the quality and taste of the food.