Grupo Bimbo outlined its global outlook for the bakery industry and highlighted some trends.
The market for this sector had an estimated value of US$440 billion in 2022, with a Compound Annual Growth Rate of sales of 3.2% between 2017-2022, according to Monitor International.
In addition to growing, the bakery industry is resilient, ranging in size from small bakeries to multinational companies.
Here are some trends:
- Low-carb diets.
- Concerns about the health effects of trans fats, sugar, refined flour and gluten content.
- Specialization.
- Clean label products.
- Increased technology and automation
- Products that consumers consider environmentally friendly (i.e., recyclable packaging).
Bakery industry
Automation is growing in this sector on a global scale as companies seek to achieve greater operational efficiencies.
To this end, companies are automating ovens and other equipment, using sensors that allow real-time monitoring of indicators such as temperature, fermentation times and humidity.
There is also an increase in the number of robots operating in industries, both for decorating products and kneading, as well as for packaging and labeling tasks.
Companies are increasingly using the Internet of Things and data management to make better informed decisions and optimize processes.
Grupo Bimbo
The main categories in the bakery industry are:
- Bread.
- Cakes.
- Dessert mixes.
- Frozen bakery products.
- Pastries.
- Cakes and dessert pies.
Headquartered in Mexico, Grupo Bimbo participates in the bread, cakes and pastries segments within this definition, while it participates in other categories that are not included, such as cookies, among others.
Artisanal and private label bakery products are relevant to the bakery industry.
According to Euromonitor, artisanal and private label bakery products accounted for 55.8% and 8.1%, respectively, of the total global market in 2022 (measured as a percentage of Retail Sales Price, or RSP).
In 2023, Grupo Bimbo expanded its operations to Romania, bringing its manufacturing operations to 34 countries. These and other acquisitions, together with its organic growth, have consolidated Grupo Bimbo as the world’s largest bakery company.