Old habits die hard. Even now whenever I see a bakery my mind replays a rhyme learnt in my childhood, Hot cross buns! Hot cross buns! One ha’ penny, two ha’ penny, Hot cross buns! Entering a bakery for most people is like entering some kind of fantasy land. With cupcakes, biscuits, buns, breads coupled with the sweet luring smell it makes almost impossible for the customers to ignore them.
Bakery doesn’t require introduction it’s a place where one could get delicious cakes, pastries, mouth watering scones and cream laden buns, breads etc. Not too long ago bakery products were consumed once in a while but now there’s been a shift in the eating trends. In today’s rat race people usually do not have time to eat proper lunch so grabbing a sandwich or any bread item is convenient and less time consuming. Time strapped workers consider this like a blessing as it saves a lot of time. The most popular and fast selling bakery product is pizza, donut, specialized bread and gourmets.
A market research report states that, the Bakery Products market is estimated to reach US$447 billion in coming 4 years. Asia-Pacific market is rising to be a strong contender and is likely to take the lead, expanding at the highest CAGR of 6.0% by 2017.
This sudden growth in demand has been a result of many factors.
• Surprisingly the first factor is the change in packaging. Innovative packaging has made it convenient to take any bakery product without making a mess.
• Shifting lifestyles resulting from cultural changes are providing a push for the bakery products.
• Increase in disposable income and higher standard of living, rising employment rates.
• Consumption of cakes and biscuits increasing among the below 13 age group.
• Time constrains to prepare lunch/ breakfast has people turning to these products.
• Innovations and new healthy ingredients attract a lot of demand especially by health conscious people.
• Attractive window dressing catches attention of a lot of people thus increasing the demand.
• Aggressive marketing and promotional strategies used to garner more attention.
Bakery products are enjoyed and relished by people of all age groups. This helps the products to maintain their fan following for a very long time.