Commercial Bakery Market - Rising Health Awareness as a Driver of Consumer Preferences Is Likely to Keep Exercising Influence on the U.S. Commercial Bakery Industry
Bakery June 30, 2016
Photo: © Rawlik / Bigstockphoto
In 2014, the value of total U.S. imports on the commercial bakery market was 3.69 billion USD. There was an annual increase of +6.5% for the period from 2007 to 2014. Import expansion is anticipated to increase at a slower pace in the next decade, compared with the previous ten years, but, nevertheless, will outpace production growth.
Canada was the main supplier of commercial bakery into the U.S., with a 46% share of total U.S. imports in 2014. Mexico took the second spot. The fastest growing suppliers were India (+15.3%), the Republic of Korea (+14.1%) and Mexico (+10.2%) from 2007 to 2014. Mexico strengthened its position in the U.S. import structure, from 15% in 2007 to 18% in 2014. By contrast, Canada saw its share reduced from 47% in 2007 to 46% in 2014.
The U.S. trade deficit in this sector has worsened over the period under review, growing from 1,319 million USD in 2008 to 1,629 million USD in 2014. The negative trend accelerated sharply after 2008, with the trade deficit increasing by 3.6% annually.
Demand for commercial bakery will continue its upward trend in the coming years. Although commercial bakery products have long been staple food in the U.S., recent healthy lifestyle trends pushed consumers to cut down on bread in their daily diet. In the nearest future, rising health awareness as a driver of consumer preferences is likely to keep exercising influence on the industry.
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- commercial bakery market forecast
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Source: U.S. Commercial Bakery Market. Analysis And Forecast to 2020
