India Bakery Market: Opportunities and Forecast Assessment, 2020–2027

 

GMI Research expects the market to expand at a significant rate. The increasing consumption of ready-to-eat food products due to individuals' hectic schedule, and increasing income level are key factors driving the growth of the India Bakery Market.

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India Bakery Market Dynamics (including market size, share, trends, forecast, growth, and industry analysis)

Key Drivers

The increasing consumption of ready-to-eat food products due to individuals' hectic schedule is a major factor propelling the growth of the bakery market in India. According to the bakery market report, the Indian consumers are significantly shifting towards Mexican and Thai food products, which is hindering the growth of the bakery market in India. Bakery products, including biscuits, tortillas, cakes, bun, flatbread, chapati, and other items, are gaining popularity as they have good taste and need no or less cooking. According to a report published by IBEF, India's FMCG market is anticipated to increase at a higher CAGR of 20.6% and was projected to reach USD 103.7 billion by 2020, which has surged from USD 49 billion in 2016. The increasing income level and rising youth population nationwide are certain factors that are expected to boost the market growth.

According to the Center for Monitoring Indian Economy, the volume production of bread, buns, and croissants had increased from 265 thousand metric tons in 2015 to 275 thousand metric tons in 2018. For the cookies and biscuits, the production expanded by 8% in 2018 when compared with 2015. India has a varied population in which 40% of the population is vegetarian. This figure is positively influencing the growth of the bakery market in India. Frontier Biscuit Factory Pvt. Ltd. is one of the leading players in north India, which provides a wide range of products in the vegan packaged cake market. The players in the market like Patanjali and others are focusing on expanding their presence is one of the emerging bakery market trends that is fueling the growth of the market. Patanjali was ranked 3rd at the largest FMCG seller at Future Retail in 2016, and HUL, along with P&G, was among the top players on the list.

India Bakery Market Segmentation:

Segmentation by Product:

·        Cakes and Pastries

·        Breads & Rolls

·        Cookies

·        Tortillas

·        Pretzels

·        Others

Segmentation by Distribution Channel:

·        Supermarkets & Hypermarkets

·        Convenience Stores

·        Speciality Stores

·        Online Retail

·        Others

About GMI Research

GMI Research is a market research and consulting company that provides syndicated research reports, consulting services, and customized market research reports. Our reports are based on market intelligence studies to ensure relevant and fact-based research across numerous sectors, including healthcare, automotive, information technology & communication, FMCG, and other industries. GMI Research’s deep understanding related to the business environment helps us in generating objective strategic insights. Our research teams consisting of seasoned analysts and researchers have hands-on experience in various regions, including Asia-pacific, Europe, North America, and the Rest of the World. The market research report offers in-depth analysis, which contains refined forecasts, a bird's eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.

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