China and Japan Lead Baked Goods Sales in Asia, States Euromonitor International in Topical Report Available at MarketPublishers.com
14 Feb 2017 • by Natalie Aster
LONDON – By 2019, Asia-Pacific is expected to outstrip North America to become the world’s biggest regional baked goods market in terms of sales. This is mainly driven by China and Japan. These two countries accounted for more than three quarters of sales in the region over more than a decade. Furthermore, the uptake of Western-style diets, especially by younger Chinese and Japanese consumers, has boosted the growth for bread alongside on-the-go snacking versions of pastries and cakes. The strong reliance of the region on these two country markets is expected to continue during the forecast period.
In spite of the slowdown in China’s market, baked goods witnessed the highest CAGR during 2011-2016 across the region. This is in part propelled by surging consumption by the young people willing to try baked products as part of their everyday meals over other staples like rice and noodles.
The retail network keeps on modernising in the region with a lot of supermarkets currently selling fresh bakery goods through in-store concessions, to compete with baker’s shops and unpackaged good.
The growth in the Chinese and Japanese is projected to decelerate in the offing. Meantime, Pakistan and Indonesia are expected to see the strongest growth.
Japanese companies take the lead in the market among other regional players.
Topical market research report “Baked Goods in Asia Pacific” elaborated by Euromonitor offers a comprehensive, unbiased analysis of the packaged food universe with a specific focus on the market for baked products. The study sheds light on the sizing and shape of the market, cast light on buzz themes, explores emerging geographies, and identifies key categories and game-changing industry trends. The report keeps track of the industry opportunities and threats. It pinpoints the various growth sectors and investigates key market growth drivers. The research publication delves deep into the competitive landscape in the market, examines the leading players and key brands. It also provides detailed market forecasts for the next 5 years.
More topical market research reports by Euromonitor can be found at its page.