Bakery products, fundamental to human nutrition, have carved a significant niche in the modern market due to their convenience, accessibility, and nutritional profile. In India, a country deeply passionate about cricket and food, the bakery business has emerged as a thriving sector, outpacing many other food businesses.
Chef Gauri Varma of Confect and G’s Patisserie highlights the bakery industry's accelerated growth, surpassing the country's overall GDP. Despite the allure of starting a cafe or bakery, only a few venture into this business, mindful of the high failure rate, which stands at 94% for new food businesses.
The bakery business has witnessed notable success stories, with the COVID-19 pandemic bringing renewed attention to the sector. Chef Kazem Samandari, Chairman of L’opera, emphasizes the importance of quality over discounts. L’opera's success, built over 15 years, relies on word of mouth and customer loyalty, with over 90 percent of daily customers being repeat patrons.
The significance of bakery products in human nutrition, their convenience, and accessibility contribute to their sustained popularity, particularly among middle to lower-income groups. Bread, a staple in many cuisines worldwide, has shown remarkable growth even during global economic crises.
Gaurav Wadhwa of Theos, a renowned bakery in NCR, challenges the notion that bakery is limited, emphasizing its versatility and diversity. He encourages a broader perspective on bakery as a career choice, highlighting its potential for entrepreneurship.
Categories within the bakery market are evolving rapidly, especially for the middle and lower-income segments. As consumers shift from need- to want-based products with rising economic status, the global bakery product market witnesses fragmentation. Expansion and partnership agreements remain crucial strategies for market players.
Chef Sahil Mehta of Paris My Love articulates a unique approach, focusing on a discerning clientele that understands and appreciates their products. Their growth strategy prioritizes quality over quantity, aiming for a limited number of stores in specific locations.
The bakery industry's success in India is not just a reflection of changing consumer preferences but also a testament to the resilience and adaptability of businesses within the sector. From artisanal bakeries to renowned patisseries, the bakery industry continues to shape India's culinary landscape with its sweet success.