Global Bakery Products Market to Reach $734.5 Billion by 2030
“Reportlinker.com announces the release of the report “Global Bakery Products Industry”
Food and fuel inflation will remain a persistent economic problem. Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth. Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China’s already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year. Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
Global Bakery Products Market to Reach $734.5 Billion by 2030
In the changed post COVID-19 business landscape, the global market for Bakery Products estimated at US$505.4 Billion in the year 2022, is projected to reach a revised size of US$734.5 Billion by 2030, growing at aCAGR of 4.8% over the period 2022-2030. Biscuits, one of the segments analyzed in the report, is projected to record 5.9% CAGR and reach US$424.9 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Bread & Rolls segment is readjusted to a revised 4.1% CAGR for the next 8-year period.”
*This article is excerpted from perishablenews.com, published 8th March 2023