A lot has been happening in the baking ecosystem across the world. Nothing short of a Renaissance, there are innovations, experimentation, and transformation, where leading brands are re-jigging their products and many international brands are making entry into the Indian market. The bakery industry in India too is poised to flourish in the coming years. As per Expert Market Research, a world-renowned market research company, the bakery industry in India is pegged to grow at a CAGR of 8.5% between 2021 and 2026 and reach a value of USD 12.39 billion by 2026. As the second-largest producer of biscuits after the USA, the world is watching the Indian baking industry with renewed interest. From well-known professional bakery brands to home bakers who are driven by creative passion, the overall bakery industry in India is evolving fast and quickly.
Shift towards healthier options
The Indian consumer today is well-travelled and that’s why they have a more mature and exposed palate. Simultaneously, the customer today is faced with many health issues and hence is moving towards healthier options in snacking as well. They are already aware of the healthier snacking options available elsewhere and is always on the lookout for healthier bakes. A plain loaf of bread - the quintessential morning breakfast of almost every household has been replaced with healthier options like brown bread, multi-grain loaves, millet bread, and the like. From millet cookies, and multi-grain biscuits to whole wheat loaves; consumers' tastes and preferences have increased the demand for healthy bakes, and the brands and bakeries are not disappointing their customers in any way. While the top Indian brands have come up with digestive bakes and gluten-free options, bakeries too are offering many healthy alternatives to their customers. These customized healthy products are the real trendsetters in the baking space.
Old wine in a new bottle
India is a land of sweets, where every region/state has its own delicacies that has been popular for generations. However, with changing preferences, they are gradually losing their popularity. Many bakeries have gone that extra mile and with smart innovation restored the glory and popularity of these traditional delicacies making them popular once again. So, today we have many varieties of sugar-free and gluten-free mithais that are very popular among customers. The top brands have joined the bandwagon and brought out these healthy variants which the consumers are lapping it up. The traditional Indian delicacies too have been launched with a modern and healthy twist. The very popular gujiya of northern India in its new avatar - baked gujiya, is fast gaining popularity and has again become the quintessential Holi mithai for all. The rasagulla, the all-time favourite sweet from Bengal too is received with equal gusto in its remake baked version, and the list is endless.
Driven by passion
While commercial baking is going through a paradigm shift, home bakers too are rocking the boat. Many home bakers are experimenting and innovating widely to the liking of their happy customers. What started as a passion for many has slowly but steadily turned into small businesses where these home bakers are selling to their community of friends and family, and in many cases, they have been successfully able to partner with bakeries or cake shops and reach out to a wider customer base. From muffins, and sugar-free millionaire bars to gluten-free ragi cakes, the choices are endless. Overall, it is a welcome change for the consumers who are being spoiled with choices of good quality gourmet bakes.
Though baking has predominantly been a European tradition, today the world over is baking with more enthusiasm than ever before. The Indian baking industry too is in a very interesting space at this moment when it is adapting to fast-changing customer preferences. From mithai, laddus, jalebis and modaks to gourmet bakes that are guilt-free, sugar-free, and low on calories, it is a great opportunity to try different bakes with an Indian touch and without any guilt trip. Experimenting with new ingredients and new flavors, the Indian baking industry is set to boom with renewed demand for bakery products.
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