Bakery Products Market Sees Rise in Organic Ingredient Use
The global bakery products market size was valued at USD 495.6 billion in 2023 and is projected to reach USD 714.1 billion by 2030, growing at a CAGR of 5.4% from 2024 to 2030. The increasing demand for bakery products worldwide is primarily driven by the trend towards convenient foods and changing consumer lifestyles. Key Market Trends & Insights The North America bakery product market accounted for a revenue share of 27.4% in 2023. The U.S. bakery product market is expected to grow at a significant CAGR over the forecast period. By Product, Cakes & pastries dominated the market and accounted for a revenue share of 28.2% in 2023. By Distribution Channel, The specialty stores segment dominated the market in 2023. Market Size & Forecast 2023 Market Size: USD 495.6 Billion 2030 Projected Market Size: USD 714.1 Billion CAGR (2024-2030): 5.4% North America: Largest market in 2023 Asia Pacific: Fastest growing market The North America bakery product market held a re...