Overview Of Indian Bakery Industry 2018
Overview
of Bakery Industry in India:
According to recent research, the bakery industry in
India has an important place in the countries industrial map. Bakery products
are an item of mass consumption in view of its economic price and high nutrient
value. In the highly growing and changing eating habits of people, the
increasing foreign influence and the rise of a female working population, bakery
products have gained their popularity among people, contributing significantly
to the growth trajectory of the bakery industry. After entry of Pizza and
Burgers' MNCs in the country, people are changing their tastes also. Today,
they are not restricted to bread, cake, and biscuits but to other bakery
products also. The consumers are increasingly going for newer options with
respect to bakery products.
Positive
Aspects of Bakery Industry in India:
The growth rate of bakery products has been
tremendous in both urban and rural areas at 14 percent per annum.
The global bakery ingredients market is growing rapidly
and is anticipated to achieve significant growth over the next seven years.
Advancement in packaging and ongoing product
diversification in baked food is expected to promote demand for bakery
ingredient in upcoming years.
Challenges
and Issues:
The volatility of raw materials and energy costs
based on prices of wheat and vegetable oil that can vary as much as 40% in a
single year.
Competition from customers within a consolidating
supermarket industry.
In order to survive in an ever-changing marketplace,
both bakery wholesalers and retailers must adapt to challenges faced by the
industry.
Final
Verdict:
Bakery industry in India is one of the largest
sections in the processed food industry. It has undergone a major change on
account of changing the perception of bakery products and evolving consumer
tastes. By the perception of bakery products, consumption boost in the nation
and changing consumer needs, we estimate the Indian bakery industry to reach
levels of INR 483 billion in the next seven years. Rising urbanization and
growth in the disposable incomes of the Indian population has proven to be a
magnet for international bakery chains owing to which the sector has seen an entry
of foreign bakery companies trading into India which has helped in enhancing the
quality of Indian bakery products.
New Trends :
Any bakery enthusiasts can see changes in bakery products from whole grains to atta biscuits /breads . From desi to exotic recipes of tart , ciabatta , muffins ,cinnabon,doughnuts etc .
Following are the new trends in baking industry
1) Premiumization
2) Gluten free
3) Bio degradable packing
4) Organic ingredients
5) Gluten free
6) Sugar free
7) Fat free
8) Low salt
9) Eggless
10)Multi grain
11) Hand Made
12) Ethnic -local
13) Fortification
Following are the new trends in baking industry
1) Premiumization
2) Gluten free
3) Bio degradable packing
4) Organic ingredients
5) Gluten free
6) Sugar free
7) Fat free
8) Low salt
9) Eggless
10)Multi grain
11) Hand Made
12) Ethnic -local
13) Fortification
Multinational Players
Many MNC have now entered Indian bakery industry to get some market share from entrenched Indian brands . Brands like Oreos from Kraft , Mcvities from United Biscuits and recently we had Bimbo entering Indian bakery market with acquisition of Harvest Gold .
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