Emotional marketing to better connect with consumers as costs increase and innovation across the wholegrain space are two key ingredients for APAC bakery success, according to industry heavyweights such as Lotte and Julie’s.
Bakery products have always been a staple in the Asia Pacific region for breakfast and snacking occasions, but the COVID-19 pandemic has boosted the sector’s growth significantly in the past year, primarily driven by the home-baking, flavour innovation and healthier eating trends.
In this episode of the FNA Deep Dive, we take a closer look at the bakery sector in APAC and find out more about the trends driving the industry post-COVID-19, with input from various leading firms in the industry.
Experts have predicted that the global bakery products market will grow some 2.5% from US$507.38bn in 2020 to hit US$574.05bn by 2026. Western regions such as Europe and the United States are still expected to dominate the global market, given the fact that bakery is even more of a staple across all dining occasions there as opposed to in APAC where rice is still the main staple.