A few years from now, if one had to open a bakery business in India, they would have to especially look for a human resource i.e., someone with an expertise over baking methods and technologies. Not that it’s of less importance now-a-days but it is safe to say that we have bakers in every home today. They might not be in the baking business but they are well aware of the baking technology. By baking we simple mean that baking is a form of cooking food that uses dry heat, preferably in an oven. It is a process where heat is steadily transferred from the surface to the middle of cakes, cookies, and breads.
Therefore, during the difficult time of lockdown, the bakery business in India saw a great deal of expansion. The EMR survey says that since the lockdown ended, there has been an increase in demand and sales of baked goods. The scope of baking goods being popular among the millennials and Gen-Z might have pushed the whole business to a level where it’s blooming in India too.
The bakery industry, which is divided into three categories: bread, biscuits, and cakes and pastries, had a market value of USD 7.22 billion in 2018. India is a major player globally, as the second largest producer of biscuits after the United States, and it is one of the most exciting regions for the bakery industry, thanks to the creative spirit of Indian companies and individuals.
Not only that, the millennials are also concerned about the ingredients that are being used in the bakery products as they don’t want to be consuming something so high on butter and sugar. Hence, ingredients like oatmeal, wheat, and dry fruits are high in demand in order to make bakery have a few healthy options as well. Along with healthy choices, millennials, in particular, are constantly on the lookout for new flavors and experiences, making flavor innovation crucial.
Though there are enough challenges and difficulties too. While there is a demand for bakery products, the Indian bakery industry faces a number of obstacles. With over 2,000 organized or semi-organized bakeries and 1,000,000 unorganized bakeries, the industry is usually divided into organized and unorganized. The shortage of infrastructure and skilled labor, as well as operational productivity, are major issues in the industry.
According to Food Ingredients India's market research, despite some difficulties and challenges, the Indian Bakery Business's outlook is optimistic, with an estimated market size of more than USD 12 billion by 2024. This could be a result of the challenging lifestyle people are living are around us. In a fast-moving world, a working person is more likely to prefer bread and muffins over a full-fledged meal. Affordability is another factor which has given rise to the bakery business in India. Bakery goods are now low cost and convenient for common people.
Alongside many predictions about the future of bakery business in India, it is important that India has lot more to offer to the bakery world in terms of flavors and taste. It holds a unique position in the market and will surely flourish in future.
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