Stagnant growth for the demand of different types of bread from end consumers to escalate the North America bread market at a CAGR of 3.5%
The North America bread market is accounted to US$ 30,471.1 Mn in 2018 and is expected to grow at a CAGR of 3.5% during the forecast period 2019 – 2027, to account to US$ 41,227.0 Mn by 2027. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
Bread is widely consumed as a staple among consumers in most countries in the North America region. Loaves, baguettes, rolls, burger buns, sandwich bread, ciabatta, are among the significant types of bread that are consumed on a large scale. Rising disposable income and the inclination of consumers towards exploring new tastes & flavors are responsible for driving heavy traffic at restaurants, QSRs, and cafes. The trend of hanging out at these places is prevalent among youngsters, especially teenagers. This fact is responsible for the growth of fast-food, which indirectly drives the growth of the bread market in the North America region. Supermarkets and hypermarkets, convenience stores, independent retailers, artisanal bakeries, and online stores, among others, are the major distribution channels for the bread market. Improvement in the distribution or retail networks of these distribution channels has uplifted the bread market at a significant rate as these channels are a feasible way for customers to buy these products. The availability of a wide range of bread and related products at a reasonable rate has attracted consumers to buy from supermarkets and hypermarkets. The number of such bakeries is on the rise in countries such as the US, Canada, and Mexico, amongst others where demand for specialty and functional bread is high among the consumers. Furthermore, growth in unorganized distribution channels such as convenience stores and independent retailers have contributed to the growth of the bread market in rural markets of the North America region.
The market for North America bread is concentrated with some very well-established players. Some of the key players in the North America bread market include Associated British Foods plc, Cargill, Incorporated, Barilla G. e R. Fratelli S.p.A, Aryzta AG, Rich Products Corporation, Britannia Industries, CSC Brands, L.P., Finsbury Food Group Plc, Conagra Inc., and Premier Foods Group Limited amongst the others.
