Bread market expected to skyrocket, make big gains by 2027 [Video]

A research firm predicts that the global bread market will gain $118.37 billion in value by 2027.

Technavio published research on Monday about the projected growth, which they measured from 2022 to 2027. The predicted compound annual growth rate (CAGR) is 7.27%.

The study researched various types of bread, including artisanal bread, gluten-free bread and whole wheat bread. In a press release, researchers noted that bread “serves as a versatile snack or convenient food option.”

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“Specialty bread, such as sourdough, and fortified bread are also popular choices, reflecting consumer interest in diverse flavors and added nutritional benefits,” the report added.

Researchers believe that the presence of bakeries in supermarkets boosts the market’s growth.

“The rising prominence of in-store bakeries in supermarkets is notably driving the growth,” Technavio said in its research report. “In-store bakeries, typically located within supermarkets and hypermarkets, are gaining prominence for their convenience and …