Here's what’s trending in the bakery industry:
- The bakery sector in Middle East, Africa and Asia continues to flourish with no signs of slowing down.
- Saudi Arabia alone accounts for the lion’s share of bakery products worth US$ 4.3 billion, according to Global Industry Analyst.
- Regional bakery manufacturers are demanding state-of-the-art ingredients and equipment to serve local demand in their respective countries.
- Key factors driving this phenomenal growth in demand for bakery products are: ballooning local and expat populations, steady disposable incomes and busy lifestyles which encourage customers to eat out more.
- According to the World Bank, over 40% of the region’s population is young - between 15 and 34 years - a prime demographic for bakeries and cafes.
- Major challenges for bakery manufacturers in the region is to reformulate products to cut sugar without compromising taste, offer smaller package sizes for on-the-go snacking, and offer new and innovative flavours and presentations to attract customers.
Source: Euromonitor International