Boston, MA -- (ReleaseWire) -- 06/10/2014 -- Baked goods registered stronger current value growth in 2013 than 2012, with products such as bread and pastries essentials for consumers as breakfast or teatime items. The rising health consciousness of consumers also continued to draw them away from traditional local breakfast items such as nasi lemak to bread, with the latter deemed to be healthier.
Artisanal players dominated baked goods with a 58% retail value share in 2013, down slightly on the previous year. Consumers continued to favour artisanal offerings due to the constant innovations in flavours and designs. The wide network of artisanal players also allowed consumers to easily purchase artisanal baked goods.
The essential nature of baked goods in consumers' lifestyles, especially bread, will see baked goods continue to grow steadily in constant value terms over the forecast period. Consumers' health consciousness is unlikely to falter over the forecast period, thus seeing them continuing to prefer bread over local breakfast items for the better perceived benefits. Manufacturers are also expected to take into account health and wellness when launching new products, to better answer consumers' needs.
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