Rising baking & snack consumption offers opportunities for manufacturers
Zeroing in on critical trends to turn industry growth into sales growth
The bakery market’s retail value in North America increased significantly from 2008 to 2013. According to Euromonitor International, the market in North America was worth $24.2 billion in 2008; by 2013, the retail value had grown to $26.4 billion, an increase of about 9 percent.
In emerging markets, such as the Middle East and Africa, the growth over the same time period was much more pronounced. The 2008 value of the bakery market in this region was $15.8 billion and increased to $20.7 billion by 2013. This represents a 31 percent increase in just five years.
However, to translate this industry growth into sales growth, baking and snack brand owners must update their processing and packaging operations with technologies that position them ahead of the curve.
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