In 2023, with consumers' growing concern for healthy diet, a number of bakery brands with low-sugar, low-fat and organic focus began to emerge and successfully attracted the attention of capital. Many bakery brands such as Holliday, Bao Chef, Inkmart Dim Sum Bureau, Taoxiangcun and Luxi River responded by launching distinctive low-sugar and reduced-fat products.

In February of the same year, the new Chinese confectionery brand Tao Xi Man Man received millions of angel round financing, the brand with "low sugar and probiotics" health concept, in the baking market quickly emerged. In just half a year, the brand has become a star in the baking market with its "low-sugar and probiotic" concept. It has successfully appeared on the hit lists of Meituan, Dianping and Jitterbug, and has become a new star in the spotlight.

The current health trend in the baking industry is still mainly on reducing sugar. From the point of view of raw materials and taste, the current mainstream sugar substitute options are sugar alcohols and natural sweeteners. Some bakeries place special emphasis on using animal butter, or replacing traditional butter with coconut oil. Other bakery brands choose to replace flour with gluten, inulin, and oat bran flours, which are often sucrose-free and may have higher protein content.

Looking ahead to 2024, single shops may be able to achieve good business results if they offer a distinctive product and environment. However, if brands are too reliant on a single product, it can pose a significant challenge to product innovation and brand channel building. In the new year, the bakery industry is still full of hope, the key is to closely follow the new consumer trends, product design and shop model to make innovations, to better meet consumer demand for "healthy, delicious and affordable".

Currently, the baked goods market is in a continuous expansion trend, consumer demand is also a growing trend. Their pursuit of baked goods has become diversified, personalised, and pay more attention to the health factor, which requires bakery companies must continue to innovate and launch a variety of products to meet these needs. In addition, with the rise of e-commerce platforms, online sales channels are also broadening, which undoubtedly opens up more sales opportunities for bakery companies.

Competition in the baked goods industry is particularly fierce, with the market filled with numerous brands and manufacturers. Some large enterprises dominate the market by virtue of their brand recognition, technological advantages and extensive sales channels, while some small and medium-sized enterprises compete for market share by offering differentiated and specialised services. Meanwhile, with the further expansion of the market scale and increasing competition, integration and mergers and acquisitions within the industry will gradually become a trend.

Compared with countries with similar global dietary structure, China's per capita consumption of bakery products is still less than half of its. However, with the accelerated pace of consumption upgrading in China, the per capita consumption level of bakery products is showing a steady upward trend, and thus the per capita consumption of the bakery products industry is also expected to continue to grow.

In 2022, China's baked food industry has achieved a market size of 285.3 billion yuan. This market is also expected to expand further as people's consumption level rises and the structure of catering consumption shifts. It is expected that by 2025, the market size will reach 351.8 billion yuan. According to the research data, young and middle-aged people are the main purchasing power of baked goods, accounting for nearly 90%. As for the choice of purchase channels, speciality shops and offline supermarkets have become their first choice.

The development of the baked goods industry is mainly due to two major driving factors: consumption growth and technological progress. At the level of consumption growth, China's per capita consumption of baked goods has reached 7.7kg in 2021, showing a steady growth in market demand. Analysts from AiMedia Consulting predict that with the accelerated pace of China's consumption upgrading, people's pursuit of quality of life will continue to improve, which in turn will drive the continuous growth of per capita consumption in China's bakery food industry.

To get more information like above , stay tuned at baking exhibition in Bakery China.

Bakery China, organized by China Association of Bakery and Confectionery Industry (CABCI) and Bakery China Exhibitions Co., Ltd. was launched since 1997. Bakery China is the Asia Pacific's leading event serving the entire value chain for the bakery and confectionery market. The event presents all range of ingredient, equipment, packaging and services, and enables global leading professionals and buyer delegates to meet and share the latest innovations and thinking on manufacturing & distribution, R&D, applications and related services for bakery industry.It is the first choice trade fair to enter China's bakery market.

The 26th Bakery China will be held on May 21-24,2024 at National Exhibition and Convention Center (NECC), Shanghai, covering 320,000 sqm show space. Over 2,200 exhibitors and 400,000 visits are expected.

(source:Tencent News)