Global Market Overview
The global bread and bakery market is currently valued at an estimate of $1.37 trillion in 2024 and is predicted to grow at an annual rate of 6.91% (CAGR 2024 – 2028). According to Statista, the top 5 countries that generate the most revenue, in USD, from bread and bakery items in 2024 are China ($278B), India ($192B), the United States ($72B), Japan ($55B), and Indonesia ($52B).
Key Trends
The bread and bakery markets are thriving due to several shifts in the economic and sociocultural environment of the food and beverage industry. To start, there’s been a huge push by health-conscious consumers, athletes, fitness lovers, and individuals who prioritize weight management, to have more high-protein offerings. These consumers want more bread and bakery foods that are low in carbs, high in fiber., low sugar, gluten-free, nut-free, and made with ingredients that improve their digestion and general health. That is why companies are manufacturing goods made with whole grains (i.e. buckwheat, oats), pulse flours (i.e. chickpea), and alternative flours (such as almond and coconut flour).
Moreover, changing dietary preferences and tastes for breads has impacted the industry. For the vegans and vegetarians in the world, more plant-based versions of dairy products are being used as substitutes for traditional ingredients in baked goods. In addition, breads made from seeds (i.e. chia, flax), seed flours, and ancient grains (such as einkorn and spelt) are becoming popular for their nutritional benefits, as many are a good source of fiber, omega-3s, and minerals. Lastly, various types of breads which can be considered more seasonal, ethnic, and artisanal have grown in demands are consumers desire new flavors and tastes of breads. Some of these include naan, sourdough, roti, ciabatta, etc.
Top Importers & Exporters
According to Tridge, the top 10 importers of bread and bakery in 2022, in billions of US dollars, were the United States ($9.8B), United Kingdom ($3.6B), Germany ($3.2B), France ($2.7B), Canada ($2B), Netherlands ($1.8B), Belgium ($1.3B), Italy ($1.1B), Spain ($1B), and Australia ($.999B).
According to Tridge, the top 10 exporters of pasta in 2022, in billions of US dollars, were Germany ($4.9B), Canada ($4.8B), Italy ($3.5B), France ($2.9B), Poland ($2.7B), Netherlands ($2.5B), United States ($2.5B), Belgium ($2.4B), Mexico ($2.3B), and Spain ($1.6B).
US Market Overview
The United States is the largest importer of bread and bakery products. The US bread and bakery market is valued at $71.94B USD in 2024 and is expected to grow annually at a rate of 3.38% (CAGR 2024 – 2028). In 2023, U.S. consumers ate about 20.06 kg (44.22 pounds) of bread per person. This value is expected to increase by 0.6 kg (.13 pounds) per year for the next four years.
According to Euromonitor International, the US sales of baked goods was valued at $98.1B USD in 2023. Bread is the largest segment as it generated $33.6B USD of sales revenue for the market in 2023 and has a growth rate of 4.5% (CAGR 2023-2028). Cakes is the second largest segment as it generated $31.5B USD of sales revenue for the market in 2023 and has a growth rate of 7.2% (CAGR 2023-2028). Pastries is the third largest segment as it generated $24.6B USD of sales revenue for the market in 2023 and has a growth rate of 7.6% (CAGR 2023-2028). Other segments include dessert mixes, frozen baked goods, and dessert pies and tarts. All things considered, this analysis presents considerable growth opportunities for all exporters of pasta and noodles.