The new report by Expert Market Research titled, ‘Indian Bakery Market Size, Report and Forecast 2023-2028’, gives an in-depth analysis of the Indian bakery market, assessing the market based on its segments like product types, distribution channels, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
|Market Size in 2022
|USD 10.1 billion
|Revenue Forecast in 2028
|USD 17.44 billion
|Growth Rate CAGR
|Britannia Industries Ltd., Parle Products Pvt. Ltd., Surya Food & Agro Ltd.,
ITC Limited, and others
Bakery market is a significant contributor in the food processing industry of India owing to the large population base, surge in the living standards, and rapid urbanisation. Over the forecast period, the increasing demand for biscuit and bread is likely to drive the market growth. The robust growth of both organised and un-organised bakery sectors in India due to the availability of automatic and semi-automatic manufacturing units, is likely to be a major invigorating factor in the coming years.
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Furthermore, with the advent of MNC’s selling pizzas, cakes, and sandwiches, owing to the thriving economic growth of the country, is likely to boost the innovation and product launches in the market.
Bakery refers to the specialised baked products or goods which include bread, cake, pie, and pastry, among others. These products require perfect bakery ingredients such as fat, sugar, salt, leaven, and water. The process of bakery production requires consistent and accurate monitoring and testing. Moreover, bakery products are soft, sweet, and come in different shapes and sizes.
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On the basis of product type, the market can be segmented into:
The market can be categorised based on distribution channel into:
The regional markets for alcoholic beverages include:
The key trends in the bakery market in India include the growing expansion of the online food delivery platforms, such as Swiggy and Zomato, which are propelling the demand for rusks, buns, and biscuits. The progressive product innovations in the country which include flavoured breads, cream biscuits with innovative taste, and customisable cakes, among others are likely to gain popularity in the coming years.
Moreover, the increasing demand for natural nutrition, and organic food items is boosting the sales of light and additive-free bakery products. This is likely to be a crucial trend in the market. The increasing dine-out activities, increasing footfall in hotels and restaurants in the country, is anticipated to propel the market growth in the forecast period.
The major players in the market are Britannia Industries Ltd., Parle Products Pvt. Ltd., Surya Food & Agro Ltd., and ITC Limited, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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