By Tom Rees, Industry Manager – Food & Nutrition, Euromonitor International
After putting consumer resilience and adaptability to a test in 2021, access and action are driving worldwide trends this year. Euromonitor International analyzes market sizes, with historical and forecast data, and finds consumers favor their cakes: this product segment is set to record the biggest year-on-year growth – 5% between 2021 and 2022.
The global market of baked goods has navigated two years of profound disruptions, from which it has emerged with newfound strength: Euromonitor International estimates a 5.5% year-on-year (YOY) growth for the 2020-2021 period, followed by a 4.4% YOY forecast for 2021-2022. For comparison, the pre-pandemic baked goods market grew by 1.7% (2019-2020).
