The Bakery industry is expected to grow to over $46 billion in the next five years.
Consumers are increasingly demanding healthier ingredients in bread and desserts. Successful operators will, therefore, need to offer a greater variety of whole-grain, all-natural or gluten-free products in order to capitalize on these trends. Moreover, changing preferences and increasing disposable income levels are encouraging consumers to choose more premium and specialty varieties over conventional private-label products.
Bakery items tend to be discretionary purchases so the revenues will also benefit from rising per capita disposable income and consumer confidence, both of which are anticipated to continue to grow over the next five years.