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Bakery products have always been a staple in the Asia Pacific region for breakfast and snacking occasions, but the COVID-19 pandemic has boosted the sector’s growth significantly in the past year, primarily driven by the home-baking, flavour innovation and healthier eating trends.
In this episode of the FNA Deep Dive, we take a closer look at the bakery sector in APAC and find out more about the trends driving the industry post-COVID-19, with input from various leading firms in the industry.
Experts have predicted that the global bakery products market will grow some 2.5% from US$507.38bn in 2020 to hit US$574.05bn by 2026. Western regions such as Europe and the United States are still expected to dominate the global market, given the fact that bakery is even more of a staple across all dining occasions there as opposed to in APAC where rice is still the main staple.