Bakery Contract Manufacturing Market size will worth to USD 39.5 billion by 2029, [CAGR of 10.3%] : GreyViews

Pune India, Dec. 01, 2022 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East, and Africa. These are the key regions where the Bakery Contract Manufacturing market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the Bakery Contract Manufacturing market are present across various countries in the above-mentioned regions.

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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the product, route of administration, facility of use, and others. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.

The significant players operating in the global Bakery Contract Manufacturing market are De Banketgroep B.V., HACO Holding AG, PacMoore Products, Inc., Blackfriars Bakery, Southern Bakeries, LLC, Cibus Nexum, Hearthside Food Solutions LLC, Perfection Foods, Oakhouse Bakery, Adventure Bakery LLC, among others. To achieve a substantial market share in the worldwide Bakery Contract Manufacturing market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.

Bakery contract manufacturing is a process of outsourcing baked products from other manufacturers or distributors. This helps small companies or new entrants to run their businesses without investing huge capital. Companies partner with some prominent bakery product manufacturers to fulfill this requirement and outsource readymade bakery products. However, the small manufacturers cannot fulfill the high demand for food production, due to which they outsource the manufactured food from prominent manufacturers and supply them to consumers. Apart from the bakery contract, manufacturing is also done for the packaging products of the bakery products as well.

The growing participation of people in sports and recreational activities drives the market's growth. Furthermore, the factors such as the openness to constantly changing trends, swift adoption of modern technologies, growing stress management, rising health awareness, and sedentary lifestyles of the younger generation impacts the market growth. In addition, rising disposal income, improving living standards, and rapid urbanizations across several regions are expected to provide lucrative growth opportunities to the Bakery Contract Manufacturing market during the forecast period.

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Scope of Bakery Contract Manufacturing Market Report

Segmentation Analysis

Manufacturing segment is expected to be the fastest growing segment in 2021.

The service segment includes manufacturing, packaging, and custom formulation and R&D. The rapid increase in energy and labor prices worldwide, coupled with rising cost of the ingredients in the bakery products, is engaging bakeries in outsourcing their baking processes or opting for advanced bakery techniques to improve their production efficiency and enhance the quality of the products baked. Furthermore, the increasing automation technologies and robotics help reduce human intervention in the whole baking process, which results in minimal chances of food contamination and helps develop high-quality baked products.

The bakery products segment is expected to be the fastest-growing segment in 2021.

The end-user segment includes bakery products, confectionery products, convenience foods, dairy products, and dietary supplements. The bakery products segment is expected to witness the highest CAGR during the forecast period. The increasing demand for bakery products such as high-fiber food products, gluten-free food products, and trans fat products propel the market’s growth. The steadily increasing number of health-conscious consumers and rising knowledge about the ingredients used in baking supplement the segments’ growth.

Regional Analysis                                                         

The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for Bakery Contract Manufacturing include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.

Asia Pacific region witnessed a major share. This is mainly attributed to an increased preference for supplementary diets in the region as the younger generation is more concerned about a healthy lifestyle and a better immune system. However, Europe is expected to witness a considerable growth rate during the forecast period.  Increasing demand for baked products such as high fiber food, gluten-free food, and Trans fat products, which are staple foods of the region, supplement the region's growth.

Country Analysis

• Germany

Germany's Bakery contract manufacturing market size was valued at USD 0.8 billion in 2021 and is expected to reach USD 1.69 billion by 2029, at a CAGR of 9.8% from 2022 to 2029. Germany's bakery contract manufacturing market will increase owing to the increased food consumption in the country and the shifting focus of bakery product manufacturers in reducing their operating costs to increase their profit margins in the coming years. According to Eurostat, nearly 289,000 companies exist in the European region that manufactures food products; almost half of them are in Germany.

• China

China's Bakery contract manufacturing market was valued at USD 1.13 billion in 2021 and is expected to reach USD 2.64 billion by 2029, at a CAGR of 11.2% from 2022 to 2029. China is one of the largest Bakery contract manufacturing markets. The increasing production of bakery products and processed food products, coupled with rising consumer consumption, drive the market’s growth in the region. Food packaging is also gaining traction in the region. Ecolean packaging, an innovation in plastic pouches, is also gaining popularity in China. Eco-friendly, lightweight, and convenient packaging for portability has been adopted for the region's fresh milk and chilled drinking yogurt products.

• India

India's Bakery contract manufacturing market size was valued at USD 65.4 billion in 2021 and is expected to reach USD 91.48 billion by 2029, at a CAGR of 3.8% from 2022 to 2029. India is one of the strongest growing economies in Asia. There is an increasing demand for food supplements in the region as people are dealing with a lifestyle where anxiety and stress overpower human life. During the pandemic, people realized the importance of building a strong immunity system than building muscles which propels the market’s growth in the region.
Covid-19 Impact                                                                             

Covid-19 had a major impact on almost all the industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the food and beverages sector have seen increased revenue due to significant changes in consumer preferences toward packaged food. In addition, the pandemic has led to significant growth in supplementary diet spending growth across developing and developed countries.

Furthermore, the growing demand of consumers for healthy food products among the younger generation coupled with the rising demand for fast food and packaged food.

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