Future Trends In Baking

Bakeries, as per the consumers' demands, have to live up to their expectations. The industry has to be aware of the latest desires of the consumers, particularly in the aftermath of the pandemic. Bakeries - big or small - have to cater to purchasers' whims and wishes for their survival and progress. Thus they have to be aware of the latest trends, for their development. Bakeries are, therefore, to meet the consumers' numerous requirements, are continuing to develop not only new baking methods but also new recipes. Small and new bakeries also have to adopt new methods to reach out to consumers and make them aware about their products. Ashok Malkani tries to assess the future trends in the New Year and the near future.

-  Ashok Malkani

Courtesy: Research And Markets

The pandemic impacted the F&B industry, including the bakery. However while many of the F&B outlets had to shut shop the bakery industry was also adversely affected. Though bakeries had to curtail production, due to labour shortage and other problems, consumers still preferred bakery products due to their being comparatively healthy and nourishing, as compared to other market food items. Though many people had turned home bakers, to satiate their craving for baked items without stepping out, there was not extremely noticeable negative impact on bakery products.

As the pandemic subsides, the relaxations in rules have given an impetus to the growth of the food industry, including a boost to the bakery industry. As per a report by Research and Markets, the Southeast Asian bakery products market, which was valued at $14,368.83 million in 2021, is projected to grow at a CAGR of 7.67% during 2022 2027. The Indian bakery market which had, according to IMARC Group, reached a value of $ 10.2 Billion in 2021 was expected to reach $ 19.3 Billion by 2027, exhibiting a CAGR of 10.94% during 2022-2027.

The increase in demand has been mainly due to the rising income as well as busy lifestyles of the consumers, most of whom happen to be millennials. As their preference has been for on-the-go snacks it has resulted in packaged goods companies offering products in convenient sizes to suit their needs. These consumers are also increasingly adopting Western-style diets containing wheat and high protein content. The health consciousness has pushed companies to produce gluten-free baked goods and natural bakery products