Global Fortified Bakery Market - Growth, Trends, and Forecast (2022 - 2030)

Fortified Bakery Market Insights

The global fortified bakery market is expected to grow at a CAGR of 5.5% during the forecasted period (2018-2023). Growing preference for healthy food products that match consumers tastes and preference, is the main factors driving the fortified bakery products. In the global market, consuers are expecting their bakery products to contain micro nutrient that benefit their overall health and should be free from additives. Rise in consumption for healthy food is driving the demand for fortified bakery.

Global Fortified Bakery Market Dynamics

The growth of global fortified bakery market can be attributed to the increasing health consciousness among consumers going for all-round nutrient rich diet. Health attributes are most important to emerging markets consumers, who are also most willing to pay a premium for health benefits in a product. This is a trend that is certainly continuing with the growth of simpler and cleaner labels as an indicator of a more natural product. Brands will see value in creating those baked products with added health giving properties that have more than one function.

Micro nutrient added bakery shops are currently trying to appeal to millennial and are competing for attention of this social savvy generation, these consumers are increasingly trying out different bakery products which give them good health benefits.

The major restraint of the fortified bakery market are low accessibility, high pricing of these goods because of the added nutrient value and low knowledge among customers as these products are very less scattered and distributed in the foodservice facility.

Fortified Bakery Market Segmentation

The fortified bakery market is segmented by product type, distribution channel and region. The market on the basis of product type, is segmented as cake, biscuits, bread, pastries, morning goods and others and in the basis of distribution channel it can be segmented as specialist retailer, retail channel and foodservice.
The major distribution channel of the fortified bakery has been the food services facility. Higher preference of fortified bakery products across all the age groups in the global arena are promoting the restaurant, small kiosks and hotels, cafe, restaurant, institutional bakers to increasingly meet the growing demand of these food products.
The restaurants, café, small kiosks have been focusing on providing the micro nutrient in their bakery products and promoting free from additives diet. Rising awareness of sustainability, especially among millennial, if forcing restaurants to implement environment-friendly and sustainable practice, which helps them to improve their health.

Global Fortified Bakery Market – Regional Analysis

The global fortified bakery market is primarily dominated by North America, Italy, UK and other European countries, where the bakery products are considered as a staple food. The Chinese, Indian population are too increasing their demand for fortified bakery products, which are preferring high nutrition level despite being high on cost.
The rising young population, along with busy, on-the-go lifestyles often dictates a need for quick meal, many opt for fast food options that are low in calories and high on health benefits and taste too. The Indian consumers want high nutrient content along with the taste such that they want full value for money on their fortified bakery products. Exploring bakery experience- with both global and regional tastes, nutritional authentic preparation method are on the rise in the developing nations, particularly India and China.

Fortified Bakery Market Key Developments

August 2016 - Britannia Industries Ltd. had entered into the exotic packaged bread segment with the introduction of whole wheat kulchas (the Kulcha is a leavened flat Indian bread). Britannia is foraying with an insight of introducing health to this traditionally perceived-indulgent category, launching whole-wheat of the Indian breads.

January 2018 - Organic bakery is growing and finding is success in India. Indian consumers are preferring organic baked products that contain no pesticides, chemical fertilizers and are sugar- and gluten -free. Taantraa Organic Handbaking located in Bangalore was among the first organic bakers in India. Founded by Chaitali Raizada in 2011, Taantraa was among the first few to introduce multigrain cakes with jaggery or almond flour cakes. Taantraa also initiated baking exclusively vegan bakes, which were gluten- free.

Fortified Bakery Market Competitive Landscape

Fortified Bakery Market Major Players - Allied Bakeries, Associated British Foods PLC, Britannia Industries Ltd., CRUST - a baking company, Dawn Food Products, Inc., H&S Bakery, Inc., Irish Pride Fine Foods, Modern Foods Enterprises Pvt. Ltd. and Super Bakery, Inc., among others.

These companies are focusing on expansion of facilities and product portfolio, due to the growing demand for fortified bakery in its application industry. Consumers are now more aware of the positive effects of naturally or freshly prepared food, which is likely to create more opportunities in the global fortified bakery market in the future. Companies are actively involved in developing innovative products, so as to enhance their product quality and increasing health benefits of the public in general. Adoption of taste and nutrient preference of a particular country by the players is expected to help the market grow at a continuous pace.

Reasons to Purchase the Fortified Bakery Market Report

• Analyzing outlook of the market with the recent trends and Porters five forces analysis.
• Market dynamics which essentially consider the factors which are impelling the present market scenario along with growth opportunities of the market in the years to come.
• Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects.
• Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
• Competitive landscape involving the market share of major players along with the key strategies adopted for development in the past five years.
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis and strategies employed by the major market players.
• 3 months analyst supports along with the Market Estimates sheet in excel.

Customization of the Fortified Bakery Market Report

• Value chain analysis
• Consumer behavior analysis in country level

This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.