According to Future Market Insights (FMI), the global bakery fat market is projected to expand substantially from US$ 1420.2 million in 2024 to US$ 2471.1 million by 2034. The market is expected to surge at a CAGR of 5.7% during the forecast period. Bakery fats are essential in producing a wide range of bakery products, such as bread, cakes, pastries, and cookies.
Consumers are becoming more aware of the impact of dietary choices on their health. They prefer food products with improved nutritional values. There is a rising demand for safer and healthier bakery items among health-conscious consumers across the globe, which is driving market growth.
To stay competitive in the market, manufacturers are also adopting several growth strategies and approaches, such as direct-to-consumer and online retail sales models, to reach consumers with diverse product offerings. This aligns with changing consumer shopping habits and preferences for online convenience.