Europe Baked Food and Cereals Market

Europe Baked Food and Cereals Market Analysis:

The Europe Baked Food and Cereals Market was estimated at USD xx.x billion in 2019 and is expected to reach USD xx.x billion by the end of the assessment period. The local market is foreseen to record a CAGR of 6.69% throughout the forecast period (2022 - 2027).

Recent Developments 

In October 2017, Schar, the fastest-growing gluten-free bakery brand, launched the Schar Deli-style seed bread, made from five grains and seeds, including rice, buckwheat, flaxseed, and sunflower and chia.

May 2017 - Grupo Bimbo S.A.B. de C.V. acquired a significant $ 50 million stake in Harvest Gold as part of a strategy to intervene in the Indian market. Grupo Bimbo S.A.B. de C.V. acquired East Balt Bakeries for $ 650 million to expand into the restaurant market.

Market Drivers and Restraints:

Baked foods and cereals, is a staple food that forms an important part of the daily diet, have satisfied a more functional demand. New low-carb, fiber-rich, multi-grain, and fortified baked goods and grains that appeal to health-conscious consumers have fueled the market growth. In addition to functional health benefits, the incorporation of natural ingredients such as natural preservatives, antioxidants, and enzymes in baked goods and grains is increasing. Companies have focused on launching organic and natural products to compete in the market with many small players with innovative products. About 56% of global consumers look for products "free of preservatives and artificial additives". Companies aim to replace fats and fats with omega-9s, omega-3s, which improve the fatty acid profile and support performance. Lowering cholesterol, weight control, high protein content and sugar control are the main consumer trends.

Market Segmentation:

The Europe Baked Food and Cereals market can be divided into the distribution channels and type.

Depending on the type, it can be divided into Cakes and Pastries, Morning Goods, Biscuits and Cookies, Breakfast Cereals, and Bread. Depending on the Distribution Channel, it can be divided into Online Retail, Convenience Stores, Specialist Stores, Supermarket/Hypermarket, and others.

Impact of COVID-19 on Europe Baked Food and Cereals Market

Food and beverage companies around the world, from cafe and restaurant owners to large food manufacturers and retailers, continue to feel the impact of COVID-19. Social isolation, self-isolation, and the closure of the entire city have forced many facilities to be closed in countries in Asia, the United States, Europe, and the rest of the world. In the United Kingdom, the United States and Australia, supermarket chains have started to apply new rules to limit panic purchases, while suppliers and factory workers have implemented health and safety measures additional security to ensure consumer safety. Under immense pressure from consumers who stock products, empty shelves are becoming common in supermarkets and supermarket chains around the world.

Regional Analysis:

The Europe Baked Food and Cereals market has been classified by geography into United Kingdom, Germany, France, Italy, Spain and the rest of Europe. The increasing aging of the population in search of healthier baked goods has supported the growth of the market. The growing consumer preference for value-added, ethnic, fresh and artisanal food and grains is the main driver of sales. Baked foods and cereals with additional components like olives, nuts, seeds, and exotic ingredients are increasing among health-conscious consumers. Increased competition from artisanal food services offering varieties of freshly baked foods and cereals has affected the sale of baked goods and packaged cereals. Artisan bakery products are more popular in Italy and France than in other European countries. Baked goods and cereals has the dominant market share with a 20% volume share, followed by buns and sandwich slices. Breads have seen an overall slow growth rate in Europe due to their high calorie content. However, breads are the largest category that has seen a decline in the past five years and continues to decline in the UK and Italy. Frozen food and grains continue to benefit from strong demand in Germany, France and Poland.

Leading Company:

Grupo Bimbo had the largest share of the Europe Baked Food and Cereals Market in terms of sales and revenue in 2019.

Key Players:

Key players in the Europe Baked Food and Cereals Market include Nestle SA, Grupo Bimbo, The Garden Company Limited, Campbells Soup Company, Kellogg’s and others.