Market Research Report
U.S. Bakery & Cereals Market, By Products, By End Use - Analysis, Share, Trends, Size, & Forecast From 2014 - 2025
|Published by||AnalystView Market Insights||Product code||874743|
|Published||Content info||88 Pages
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|U.S. Bakery & Cereals Market, By Products, By End Use - Analysis, Share, Trends, Size, & Forecast From 2014 - 2025|
|Published: June 1, 2019||Content info: 88 Pages||
U.S. Bakery & Cereals Market, By Products (Breakfast Cereals, Cakes, Pastries & Sweet Pies, Morning Goods, Bread & Rolls, Cookies, and Savory Biscuits), By End Use, and Geography (NA, EU, APAC, and RoW) - Analysis, Share, Trends, Size, & Forecast From 2014 - 2025.
The U.S. bakery & cereals market was valued at USD 106.4 billion by 2017, growing with 2.8% CAGR during the forecast period, 2018-2025.
The bakery and cereals market comprises baking mixes, baking ingredients, breakfast cereals, bread and rolls, cakes, cereal bars, cookies, dough products, energy bars, and savory biscuits. The trend toward growing demand for healthier food choices is considered to be the primary driver in the bakery and cereal products in the U.S. The consumption behaviours and attitudes of the U.S. population makes this country significant mature from those of other North American and global countries. Consumers are increasingly demanding a diverse variety of bakery foods that have superior nutritious taste and are safe. In addition, the country's population is willing to pay a premium price for high-quality bakery products, driving the industry growth to great extent.
It is analysed that Canada is a major exporter of bakery and cereal foods to the U.S. Key exports include biscuits, dough mixes, breads, pastries/desserts, cookies, waffles, pies, gingerbread, and cereals. New product development is one of the important driving factor for this industry growth. For instance, many new bakery products being introduced into the market feature health claims or higher quality. Several key players are introducing products with lower amounts of sodium and high-fructose corn syrup but higher amounts of fibre. Such factors would in turn further boost the product demand significantly.
Among which, cakes, pastries and sweet pies accounted for the significant revenue share, accounted for over 25% revenue share.
Hypermarkets & Supermarkets accounted for the highest revenue share, accounting for over 65% share of the total market's value. This distribution channel have been increasing their share of the industry by selling wrapped bread made by plant bakeries at a low cost and introducing in-store bakeries producing specialty breads, rolls and pastries.
The bakery & cereals market will be analyzed taking manufacturers of bakery and cereals as players. Of the all key players, General Mills, Inc. emerged as the leading player in the U.S. bakery & cereals market, captured over 9% share of the market's value. High fixed costs and exit barriers intensify rivalry in the market. In addition, the US market is fragmented, which further increases the competition.
The market size and forecast for each segment and sub-segments has been considered as below:
The scope of this report covers the market by its major segments, which include as follows: