The global market for bakery products is projected to reach $574 billion by 2023
An increase in demand for clean label products and functional products that address a range of health concerns means the bakery market must rapidly evolve in order to meet these new expectations.
According to a Natural Products Insider report, the global market for bakery products is projected to reach $574 billion by 2023, with bread and rolls having the largest portion of that market share, accounting for approximately 45% of demand. However, with a majority of bakery items containing fat, gluten and sugars, consumers are looking for alternative baked goods free of those ingredients, i.e. making the products “clean label.”
“Clean label in bread is not only about removing the consumer perceived ‘no-no’ ingredients like artificial colors, flavors and preservatives,” said Courtney Schumacher, senior marketing specialist, Kerry, a public food company. “It is about introducing products with clean label claims like non-GMO (genetically modified organism) and organic into the mainstream market.”
According to a 2016 survey conducted by specialty public relations firm Ingredient Communications, as clean label moves into the mainstream, 73% of participating consumers stated that they are willing to pay a premium for products with desirable health and wellness attributes. The future of the U.S. gains within the bread category are predicted to be driven primarily by healthier, more nutritious products with clean labels and all natural ingredients, reported Natural Products Insider.
To read the Natural Products Insider report, click here.