As consumers become more health-conscious, shelf stable and packaged baked goods are likely to be avoided by many consumers, due to being high in preservatives and other artificial additives. While both small niche and major brands have launched healthier product lines to capitalise on the health and wellness trend, the growth in sales of packaged baked goods is likely to slow over the forecast period as consumers show a preference for freshly baked products.
Consumers increasingly value experience over simple hunger satisfaction. Products with plain flavours and textures can no longer satisfy many consumers’ food cravings.
Expanding distribution channels is also an essential strategy for baked goods. Consumers are looking for quick, convenient access to products, particularly in light of their increasingly hectic lifestyles.
Large domestic players continued to lead baked goods in Thailand, due to their extensive assortments, wide distribution networks, competitive prices and strong brand reputations and equity. The well-known local player Farmhouse is predicted to remain the leader in baked goods in 2019.
Niche bakeries selling unpackaged baked goods and chained bakeries such as Saint Etoile By Yamazaki and BreadTalk are increasingly marketing themselves online to target a younger crowd. Local chained bakeries like S&P and Gateauxhouse, together with artisanal bakeries like HomeBread, Holey Artisan Bakery and Keta are promoting themselves using a local app called Wongnai.
While major brands like Farmhouse and Le Pan lead baked goods, their products contain artificial additives, which discourage purchases from some consumers, interested in maintaining their health. To gain traction, domestic niche brands have been tapping into the opportunities offered by the growing demand for healthier options.
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This industry report originates from Passport, our Packaged Food market research database.