As a result of the global COVID-19 crisis, retail demand for products in baked goods is expected to increase in 2020 as bread is considered an essential product and consumers are eating more meals at home during COVID-19 home seclusion. For parents, especially, bread is an important product as it provides a quick and easy meal solution for their children whilst children could not attend school.
Companies in baked goods are continuing to highlight health and wellness claims in their new product development and innovation in 2020. In bread, for example, many are emphasising the health benefits of whole-wheat options.
Angel Bakery Ltd is expected to retain its leadership in baked goods in 2020 thanks to its positive image in Israel as a high quality bakery producer with accessible prices. Angel Bakery remains the leading branded player within baked goods, after artisanal, due to its strong distribution, which is a major factor in baked goods as bread is distributed several times every day.
Although retail demand is expected to remain high in 2020 due to home seclusion during the COVID-19 pandemic, a high level of baked goods consumption in 2020 could suppress growth rates in the coming years. Consumers are expected, for example, to become more health conscious following the pandemic, especially as a lack of mobility during lockdown could lead to unhealthy habits.
Rising consumer health awareness continues to fuel a shift towards wholegrain products, resulting in the creation of new grain trends every few years. The most recent of these is spelt, with spelt bread and cakes gaining popularity due to low gluten levels.
New labelling regulations which came into effect in 2020 are expected to restrict growth for some products in baked goods in the forecast period. As high levels of sodium, fat or sugar must now be highlighted, and there are also further restrictions on the display of health claims on packaging, consumers will become more aware of nutritional content and will be more likely to seek options that are better for their health.
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This report originates from Passport, our Baked Goods research and analysis database.
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