Due to the Late Start, the Baked Goods Market in China Is Less Than that in Europe and the United States, but Its Market Space is Wide

Baked food refers to flour, yeast, salt, sugar and water as the basic raw materials, adding an appropriate amount of oil, milk, eggs, additives, and so on, through a series of technological methods of baked food.

Baked goods have always been the mainstream breakfast and staple food in European and American countries. In comparison, the development of baking industry in China is relatively short. At the same time, baked goods are mainly used as desserts and snacks in China, with a large gap between the per capita consumption of baked goods and that of European and American countries.

The baked goods industry belongs to the snack food industry. With the change in the diet structure of Chinese residents, the per capita consumption level is on the rise, and cake, bread and other baked goods increasingly become an important part of consumers\' diets.

In recent years, the snack food industry in China has been highly valued by governments at all levels and has the key support of national industrial policies. The state has introduced several policies to provide clear and broad market prospects for the development of the snack food industry and a good production and operation environment for enterprises. China\'s bakery industry started late, but the scale is constantly expanding, and the market is in a golden period of rapid growth. In 2022, the market size of China\'s bakery food industry reached 43892 million USD, up 9.7% year on year. With the growth of the per capita consumption level and the adjustment of the catering consumption structure, China\'s baked goods market will continue to expand, and the market size is expected to reach 54123 million USD in 2025.

Source: Market Monitor Co., Limited

In 2022, there were 29,345 enterprises registered in China\'s bakery food industry. From 2020 to 2022, the number of enterprises in the bakery food industry grew strongly and reached a record high in 2022.

From the perspective of market share, the revenue of Toly Bread Co., Ltd.  bakery food business accounted for 2.43% of the market size of the bakery food industry; The revenue from the baked goods business of Ligao Foods Co.,Ltd. accounted for 1.08% of the market size of the baked goods industry. The baked goods business income of Ganso Co.,Ltd.accounted for 0.93% of the market size of the baked goods industry; The revenue from the baked goods business of Zhejiang Yiming Food Co., Ltd.  accounted for 0.34% of the market size of the baked goods industry; Maiquer Group Co.,Ltd. bakery revenue accounts for 0.10% of the baked goods industry market size. In 2022, the combined revenue of the bakery food business of Maiquer Group Co.,Ltd., Ligao Foods Co.,Ltd., Zhejiang Yiming Food Co., Ltd., Toly Bread Co., Ltd. and Ganso Co.,Ltd. only accounts for 4.88% of the market size of the bakery food industry.

Source: Market Monitor Co., Limited

With the increase in national purchasing power, the baking consumption of consumers shows a stable growth trend. Compared with Japan and other countries with similar diet structures and habits, the per capita consumption of baked goods in China still has room for growth, and the baked goods market in China will continue to expand in the future. Driven by the upgrading of consumer demand for baked goods, products show a diversified development trend. The brand also needs to improve product appearance, production materials, product packaging and other aspects, and carry out innovative marketing activities to meet the needs of consumers in various aspects. In terms of production, there is a large market space for the frozen bakery industry, which has become the blue ocean market of China\'s bakery food industry. At present, the competition in China\'s bakery food industry is intensifying year by year, and the speed of brand renewal and iteration is fast. The industry is reshuffled, and each bakery brand needs to keep up with the pace of market innovation and update its operation mode in time.

For more industry information, please refer to the latest Global and Regional Bakery Products Market Details Research Report 2023-2028 released by Market Monitor Co., Limited.
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