Over the past two years the prices of baked goods have risen strongly, with no signs of a halt to growth or a decrease in prices in the near future. The reasons for this are numerous, and are unlikely to resolve any time soon.
Although health and wellness trends in the past emphasised turning away from carbohydrates, at the end of the review period a return has been seen to carbohydrates, not just as a source of nutrition, but also as a source of comfort. In such uncertain times, consumers tend to turn to foods that offer an additional benefit other than purely nutrition, and baked goods, with a wide range of cakes, pastries and bread, offer what many consumers view as a small comfort.
In recent years, struggles were seen within the supply chain for baked goods, as raw materials were affected by climate change. From unreliable seasonal weather to natural disasters and unexpected high or low temperatures in global grain-growing regions, climate change has been deeply impacting the baked goods category.
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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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