New product development is becoming increasingly important for baked goods manufacturers as they look to add value to their offers and expand their consumer bases. The target consumers for new product developments are teenagers and young adults, who tend to be less fixed in their consumption patterns than their older counterparts and are willing to try new flavours.
The distribution of baked goods will continue to widen throughout the forecast period. In particular, packaged bread, cakes and pastries will increasingly be available in more peripheral regions of the country where independent small grocers remain the most important distribution channel and modern grocery retail outlets are relatively scarce.
Snacking, rather than gifting, will increasingly be the focus of marketing activity in cakes during the forecast period. With consumers set to spend less time at home as they return to familiar hectic lifestyles in the wake of the COVID-19 crisis, they will be eating more on the go.
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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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