The Business Research Company’s latest report Bakery & Confectionary Global Market Report 2020 covers Bakery & Confectionary market drivers, Bakery & Confectionary market trends, Bakery & Confectionary market segments, Bakery & Confectionary market growth rate, Bakery & Confectionary market major players, and Bakery & Confectionary market size. The report provides in-depth analysis of the impact of COVID-19 on the Bakery & Confectionary industry, along with revised market numbers due to the effects of the coronavirus.
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Bakery & Confectionary Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market. The chapter also covers markets which have been positively affected by the pandemic.
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The global bakery & confectionery market is expected to grow from $890.9 billion in 2019 to $916.3 billion in 2020 at a compound annual growth rate (CAGR) of 2.9%. The low growth is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 7% from 2021 and reach $1128.3 billion in 2023.
The global bakery and confectionery market is segmented by type into breakfast cereal manufacturing, sugar and confectionery product manufacturing, bread and bakery product manufacturing, cookie, cracker, pasta, and tortilla manufacturing, by distribution channel into supermarkets/hypermarkets, convenience stores, e-commerce, others. Subsegments covered are oats breakfast cereal, grains breakfast cereal, other breakfast cereal, sugar manufacturing, confectionery product, bread, cake and pastries, other bread and bakery product, cookie and cracker manufacturing, dry pasta, dough, and flour mixes manufacturing from purchased flour, tortilla manufacturing.
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