Global Bakery Contract Manufacturing Market is projected to be worth USD 44.46 billion by 2030.
This market's expansion is picking up speed and is anticipated to continue during the forecast period. The rising demand by growing consumers for healthy products coupled with the growing younger population will drive the bakery contract manufacturing market during the forecast period. The lack of a need for a significant sales team, the lack of a procurement department, the absence of brand-building costs, predictable revenue and little investment risk are the main advantages of bakery contract manufacturing. Some of the key elements anticipated to support the growth of the bakery business include new product releases, an expansion of the retail network, and rising household consumption of healthy baked goods. According to the Food and You survey by the FSA, the market is expected to benefit from younger consumers' growing desire for healthy baked goods and their growing adoption of vegan baked goods.
Due to the increasing use of robotics and automation technology in the bakery which is raising demand for contract baking manufacturing, the manufacturing segment is anticipated to expand over the projection period and due to the rise in lifestyle-related illnesses around the world, the custom formulation and R&D segment is anticipated to expand over the projection period. Automation technologies reduce human involvement in the baking process, reduce the possibility of food contamination, and promote the production of baked goods of the finest quality.
The ability to change course and implement new ideas will probably support industry growth. The ability to change course and implement new ideas will probably support industry growth. Food companies can also release cash flow, which has played an important role during a pandemic and create a favorable environment for manufacturers to thrive. Additionally, it is anticipated that the popularity of commercials featuring appealing images and the accessibility of baked goods in a wide range of flavors will positively impact the market for processed food and, by extension, bakery contract manufacturing. Though sales of baked goods are anticipated to decline due to rising input raw material costs, this will constrain market expansion.
The Global Bakery Contract Manufacturing Market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Adventure Bakery LLC, Bake Works, Inc., Blackfriars Bakery, Cibus Nexus, De Banketgroep B.V., HACO Holding AG, Hearthside Food Solutions LLC, Michel’s Bakery, Inc., Oakhouse Bakery, PacMoore Products, Inc., Perfection Foods, Richmond Baking, Southern Bakeries, LLC, Stephano Group Ltd., Tradition Fine Foods Ltd.
SPER Market Research study aims to provide market dynamics, demand and supply with yearly forecast to 2030. This report provides data for growth estimates and forecasts for product type segment –By Service (Manufacturing, Packaging, Custom Formulation and R&D).
This report also provides the data for key regional segments of North America, Europe, Asia-Pacific and Rest of the World.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.