November 30, 2020
As per the report titled ‘U.S. Retail Packaged Bread Market Size By Product, By Ingredient, By Recipe, By Distribution Channel, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2026’, available with Market Study Report LLC, U.S. retail packaged bread market is projected to surpass a valuation of USD 24 billion by the year 2026.
According to the findings of the report, U.S. retail packaged bread industry is largely driven by surging production and consumption of feed grains. Moreover, increasing health conscious population, and proliferating number of retail chains across the nation is adding considerable traction to the industry growth.
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On the contrary, complexities and reluctancy associated with implementation of advanced technologies for packaging and production of bread, along with escalating demand for fortified items, and lack of innovations are restraining the industry expansion.
Based on product type, fresh bread segment is projected to secure 80% of U.S. retail packaged bread market share by the end of the forecast period. Advancements in bread manufacturing technologies have improved calcium and vitamin content in products, in turn, has led to increased consumption of fresh bread. Moreover, cheaper costs in comparison to frozen variants, along with rising consumer inclination towards freshly baked products are bolstering the segment growth.
Considering the ingredients, inorganic bread segment is anticipated to register 1.5% CAGR through 2026, attributable to better pricing as compared to organic bread and widespread availability across supermarkets and stores.
In terms of recipe, breadsticks segment is estimated to account for 15% of U.S. retail packaged bread market share over the forecast duration. Breadsticks are crispy food products which are generally served with soup. The popularity of these products is creditable to its availability in several varieties and flavors. Further, product innovations are likely to boost the segmental share in the upcoming years.
Considering the distribution channel, supermarkets & hypermarkets segment is set to expand at a CAGR of 2.5% during 2019-2026, as these retail chains offer better convenience and shopping experience to customers. They offer several brands and price ranges under one roof, catering to diverse demographics which ultimately helps drive sales.
On the geographical front, Northwest U.S. retail packaged bread industry accounted for 20% of the overall share and will continue to showcase strong growth trends in the coming years. Key players in this part of the nation are mainly focusing on R&D activities to rollout innovative products into the marketplace.
Speaking of the competitive landscape, H&S Bakery, Inc., Aunt Millie's Bakeries (Perfection Bakeries, Inc.), Johnston's Bakery Inc., Custom Foods, Inc., Gonnella Baking Co., The T. Marzetti Co., Aryzta AG, United States Bakery, Flower Foods, Inc., Weston Foods US, Inc., and Bimbo Bakeries USA are the major contenders in U.S. retail packaged bread market.