Bakery market: Key research findings
- Advent of gluten-free products to spur market growth
- Introduction of premium breakfast biscuits like Kellogg’s all bran breakfast biscuits to augment the prospects for growth in this market
Technavio has added a new report on the bakery market in Japan, to its food and retail portfolio. Analysts estimate the market to grow at a rate of over 1.5% during the forecast period of 2014-2019.
The new research report from Technavio discusses in detail the key drivers and trends responsible for growth, as well as the segments with the maximum growth potential.
“Consumers are increasingly becoming aware of the detrimental effects of gluten and therefore, are favoring products that are gluten-free. This shift in consumers’ preference has resulted in the introduction of products like Silver-Hills gluten-free bread and Kellogg’s gluten-free cereal, which are rapidly gaining traction in Japan’s bakery market,” says Sriram Mohan, Lead Analyst, Food and Retail, Technavio Research.
Health concerns associated with gluten-based bakery products has led to the popularity of healthy and organic products. This has resulted in the introduction of age-specific products with ingredients such as bran and oats. Additionally, the advent of products like Kellogg’s All-Bran breakfast biscuits and brown rice flakes aid in increasing the demand for these products as they target consumers from all the age groups. The baked food segment consists of premium-baked goods and accounts for nearly 89% of the total market. This segment alone is expected to surpass USD 22 billion by the end of the forecast period.
Source: Technavio Research
A segment to look out for is the baked goods segment, which analysts predict is going to grow due to the increasing consumption of bread. The leading companies in the bakery market in Japan are Bourbon, Ezaki Glico, Fuji Baking, Shikishima Baking, and Yamazaki Baking.
More detailed analysis is available in the Technavio report Bakery Market in Japan: Forecast, and Market Analysis 2015-2019. We can customize reports by other regions and specific segments upon request.
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