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bbi-2023-04-How German craft bakers survived the pandemic

The bakery market has been shrinking for years, triggered by the growing range of bakery products in
other segments of the food retail sector, as well as in the snack and catering sector. The performance of
the German market in 2019 is reviewed in the light of its post-pandemic evolution.

By Prof. Dr. James Bruton

This study is based on the annual financial statements and management reports of 101 larger, predominantly artisan bakery companies published in the Federal Gazette and provides a detailed overview of the economic situation of the industry, relative to company sizes. The year 2019, before the COVID-19 crisis, is compared with 2020, when the first pandemic wave of illness led to widespread economic problems – and became an existential issue for many. Generally, 2020 is also the year for which published financial statements are available, so the data represents the current state of reporting. In the case of a different financial year, i.e. with a balance sheet date during the year, the financial statements with the financial year ending during 2020 were used as a basis. These only relate to a handful of companies.