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5 Must Reads for Competitive Advantage in Bakery 2021

Amy Bond, Assistant Librarian and Information Specialist,

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Photo by Brands&People on Unsplash

 

Insight can be a key factor in setting your company apart from your competitors. Past research has found that organisations that leverage customer insights outperform peers by 85 percent in sales growth and by more than 25 percent in gross margin (McKinsey, 2019). Bord Bia can help you access great insight through our library collection. Here is an overview of some of our latest reports in the bakery category.

 

A year of innovation in cakes, pastries & sweet goods, 2021 (Mintel, September 2021)

The main focus of innovation has been to provide indulgence at a time when consumers need treating. Meanwhile, private label and frozen launches are gaining share. Innovation opportunities exist in appealing to consumer’s emotions, new solutions for sugar reduction, and embracing category blurring.

 

Baked Goods in Western Europe (Euromonitor, April 2021)

As something of a mature category, baked goods were seeing slow or even declining real value growth year on year of late in Western Europe. However, due to Coronavirus (COVID-19) in the region, a certain amount of foodservice consumption was moving into people’s homes and consumers were also resorting to familiar basic products helping drive sales during 2020.

 

What’s Fuelling Britain’s Baked Goods Revolution? (Canvas8, October 2021)

The long breakfasts and crafty hobbies adopted during lockdowns have sparked a shift in the bakery category, with many shoppers seeking healthy and premium products to fit their new daily routines. So, how can brands innovate to satisfy Britons’ changing appetite for baked goods? Quality, health, and freshness are key areas of focus.  

 

Bakery Trends in 2021 (FMCG Gurus, August 2021)

This report identifies the latest and evolving trends in the bakery market based on FMCG Gurus Top Ten Trends for 2021. Focusing on key areas such as health and wellbeing, safety, quality, value, and indulgence, the report examines evolving consumer attitudes, behaviours, and priorities, and what this means for the bakery industry over the next five years.

 

Ireland Bakery & Cereals - Market Assessment and Forecasts to 2025 (GlobalData, October 2021)

The report provides comparative analysis of the value and volume shares of Ireland against the Western Europe and global bakery & cereals sectors. Additionally, the per capita consumption and expenditure of bakery & cereals in Ireland is also compared to Western Europe and global levels. The report also compares the Irish bakery & cereals sector with the other leading countries in Western Europe in terms of market share, growth, and competitive landscape

 

Any Bord Bia clients who want to learn more on how to access content from these reports, contact thethinkinghouse@bordbia.ie.

 

References:

Canvas8. (2021). What’s Fuelling Britain’s Baked Goods Revolution?. Canvas8. Retrieved from http://canvas8.com

Euromonitor. (2021). Baked Goods in Western Europe. Euromonitor. Retrieved from http://euromonitor.com

FMCG Gurus. (2021). Bakery Trends in 2021. FMCG Gurus. Retrieved from http://fmcggurus.com

GlobalData. (2021). Ireland Bakery & Cereals - Market Assessment and Forecasts to 2025. GlobalData. Retrieved from http://globaldata.com

Mintel. (2021). A year of innovation in cakes, pastries & sweet goods, 2021. Mintel. Retrieved from http://mintel.com

The customer insights function is ripe for a boost. (2021). Retrieved 5 November 2021, from https://www.mckinsey.com/business-functions/marketing-and-sales/solutions/periscope/our-insights/articles/the-customer-insights-function-is-ripe-for-a-boost