The Business of Baking

Bakery products have always been popular. From cakes and cookies to buns and bread. Special occasions have always been celebrated with cakes. And breads have been a staple food for breakfast and even, at times, for lunch or dinner. The market for bakery products has always been rising. According to IMARC the Indian bakery market reached $ 13.8 billion in 2024 and is expected to reach $31.5 billion by 2033, exhibiting a growth rate of 9.12% during 2025-2033. The increasing demand for bakery products, especially after the pandemic, is making several enterprisers plan on venturing into bakery business. Ashok Malkani views the various aspects of bakery business and delves on some of the traits for making the business a successful venture.

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Bakery products continue to win hearts across demographics, driven by evolving tastes and growing consumer demand. From indulgent treats like cakes, cookies, and pastries that cater to those with a sweet tooth, to artisan breads handcrafted using traditional techniques, the diversity of offerings is expanding rapidly.

Artisan breads, in particular, have carved a niche for themselves in the market. Their unique flavors and textures, developed through time-honored methods, are increasingly drawing health-conscious consumers seeking wholesome alternatives.

While bakery products have always enjoyed popularity, the pandemic brought a shift in perception, positioning them as viable, sometimes even healthy, food choices. This trend has persisted, with consumers continuing to embrace bakery items as part of their everyday diets. With innovation and tradition walking hand in hand, the bakery business is rising as a dynamic and adaptable player in the evolving food landscape.

Feasibility study for bakery business in India states that Indian bakery segment is poised for a significant growth. The surge can be attributed to the rising disposable income, D2C (direct to customers) platforms, increase in growth of e-commerce and the consumers’ preference for packaged goods.

The result is the bakery market is, driven by factors like urbanization and changing consumer preferences, experiencing a significant growth. It is projected to reach $31.5 billion by 2033, with a CAGR of 19.12% between 2025 and 2033.

The market, which was valued at $12.6 billion in 2023, is expected to reach $ 29.4 billion by 2032, growing at a CAGR of 9.9%. As per Statista, the market is projected to reach 268.10 billion kg in volume by 2029. Average per capita consumption is anticipated to be 161.8 kg in 2025.