The increasingly high cost of living due to inflation is set to discourage consumers from dining out frequently and prompt them to look for more affordable meal options. As a result, consumers are likely to consume more packaged bread, cakes and pastries at home during the forecast period.
In packaged bread and pastries, Gardenia Bakery KL Sdn Bhd and Italian Baker Sdn Bhd are expected to continuously launch new variants, utilising ingredients such as cheese, coconut and beans as they target consumers’ interest in health and novel flavours, at the same time as phasing out old products/variants in order to optimise the shelf space for new products. Health and wellness will be a notable influence on innovation, especially since the boost provided to the trend by the COVID-19 crisis, with companies expected to launch new healthy products in packaged leavened bread, such as those incorporating healthy ingredients such as oat and flaxseed.
Oriental Food Industries Sdn Bhd and Apollo Food Industries Sdn Bhd are expected to introduce smaller multipacks (such as 16g x 12 packs) of packaged cakes and distribute them through convenience stores and forecourt retailers in order to generate impulse purchases and offer greater immediate affordability to consumers who may be unwilling to pay out for larger packs in a difficult economic environment. In addition, baked goods players are expected to collaborate with drinking milk and soft drinks players to introduce bundle products such as packaged pastries paired with shelf stable milk or RTD coffee.
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This is the aggregation of bread, pastries, dessert mixes, frozen baked goods and cakes. Note: Baked goods from in-store bakeries are classified under unpackaged/artisanal, not packaged/industrial. While they may be finished on-site, they are often prepared, then frozen or par-baked, at other locations. Such production models are very important for supermarket in-store bakeries, which have in the past been used to drive traffic and fill stores with appetising aromas, but for which the labour resources required to run a full-service scratch bakery are not always available.See All of Our Definitions
This report originates from Passport, our Baked Goods research and analysis database.
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