Market Forecast By Product Types (Cakes and Pastries, Biscuits, Bread, Morning Goods & Others), By Distribution Channels (Hypermarkets/Supermarkets, Convenience Stores, Speciality Stores, Online Retailing & Others) and competitive landscape
|Product Code: ETC002485||Publication Date: Feb 2023||Updated Date: Nov 2023||Product Type: Report|
|Publisher: 6Wresearch||No. of Pages: 70||No. of Figures: 35||No. of Tables: 5|
Kenya Bakery Product Market registered a growth of 31.65% in value shipments in 2021 as compared to 2020 and an increase of 6.31% CAGR in 2021 over a period of 2017. In Bakery Product Market Kenya is becoming more competitive as the HHI index in 2021 was 1558 while in 2017 it was 1783. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market.
Kenya has reportedly relied more on imports to meet its growing demand in Bakery Product Market. Kenya is shifting towards local production to meet its demand as we see the trend is shifting towards reducing imports. The import factor of Bakery Product Market in 2021 was 75.35 while in 2017 it was 130.35. Egypt, Jordan, United Arab Emirates, France and Rwanda were among the top players of the market in 2021, where Egypt acquired the largest market share of 28.52% with a shipment value of 0.63 million USD in 2022 Egypt also offered the product below the average market price thus having a competitive advantage over others In 2017 Belgium had the largest market share of 31.81% with the shipment value of 0.39 million USD. The country was offering its product with an average price which is higher than the average market price offered in the country. Although Belgium offers its product above the market average price, it remained at the leadership position indicating the brand value it holds in the Kenya Bakery Product Market in 2017.
Kenya Bakery Product Market has been through a few recent developments and projects. For instance, the development of supermarkets such as Nakumatt and Tuskys has been expanding and opening new branches which increase the access to baked goods for general consumers. Also, bakeries are introducing new and state-of-the-art products to cater to changing consumer preferences and demands. This factor also proliferates the growth of Kenya Bakery Product Industry to a great extent. Moreover, the huge investment in advanced technology to increase efficiency and improve product quality is also helping the market to expand further.
There is a growing trend towards healthier and organic baked goods, and bakers are responding by offering products made with natural ingredients such as maize, sorghum, and millet. Further, MSMEs are playing an increasingly important role in the market with many emerging businesses. These developments are expected to drive Kenya Bakery Product Market growth and increase competitiveness in the industry in the forthcoming years.
Kenya bakery product market is expected to grow due to the rising demand for healthy and low sugar content bakery products, increasing innovations in bakery products such as pastries, fruit pies, doughnuts, and croissants, increased consumption of indulgent, premium, designer baked desserts and sweets along with ease of convenience and affordability is expected to promote the demand for bakery products.
According to 6Wresearch, Kenya Bakery Product Market size is expected to register significant growth during the forecast period 2020-2026. The outburst of coronavirus is expected to hinder the bakery product market growth as the pandemic has brought hunger to a major chunk population in Kenya by disrupting agriculture production and supply chains. Kenya imports 90% of the total rice demand and 75% of the total wheat demand but due to the lockdown measures, the country fails to ensure adequate imports to suffice the daily food requirements. Additionally, the lack of labor and the closures of transportation and production activities in the country would disrupt the food supply system, hampering the production of bakery products in the country.
Based on distribution channels, online retailing is gaining momentum due to the increasing use of internet services. Along with this, ordering food online provides multiple advantages such as doorstep delivery, secured and easy payment options, provides a variety of products to choose from thereby, promoting the use of online channels for ordering food.
Kenya Bakery Products market report thoroughly covers the market by product types and distribution channels. Kenya Bakery Products' market outlook report provides an unbiased and detailed analysis of the ongoing Kenya Bakery Products market trends, opportunities/high growth areas, and drivers which would help the stakeholders to devise and align their market strategies accordingly to the current and future market dynamics.
The COVID-19 pandemic has had a significant impact on the bakery product market as many cafes and bakeries have been forced to close their operations due to lockdowns and restrictions on travel and gathering. As a result, there was a decrease in demand for baked goods, as consumers are unable to visit cafes and bakeries. Additionally, supply chain disruptions have made it even more difficult for bakeries to access the raw materials they need to produce baked goods, further impacting their sales.
Kenya Bakery Products Market report provides a detailed analysis of the following market segments:
1. What are the major growth drivers for the market?
Growing health consciousness among consumers and the rise in disposable income are the major factors driving the growth of the bakery product market in Kenya.
2. What are the major factors hampering the growth of this market?
Lack of access to quality raw materials, increasing competition, and high cost of production are the major factors hampering market growth.
3. How does the pandemic affect the sales of bakery products in Kenya?
The pandemic has had a significant impact on the Kenya Bakery Product market as the general slowdown in economic activity reduced the demand for bakery products. Additionally, disruptions to supply chains have made it more difficult for bakeries to obtain ingredients.
4. Why the cost of production in the market is high?
The cost of ingredients, labor, and equipment is high in Kenya due to which the cost of production in the market is high.
|1. Executive Summary|
|2.1. Report Description|
|2.2. Key Highlights of The Report|
|2.3. Market Scope & Segmentation|
|2.4. Research Methodology|
|3. Kenya Bakery Products Market Overview|
|3.1. Kenya Country Indicators|
|3.2. Kenya Bakery Products Market Revenues, 2016-2026F|
|3.3. Kenya Bakery Products Market Revenue Share, By Product Types, 2019 & 2026F|
|3.4. Kenya Bakery Products Market Revenue Share, By Distribution Channels, 2019 & 2026F|
|3.5. Kenya Bakery Products Market - Industry Life Cycle|
|3.6. Kenya Bakery Products Market - Porter’s Five Forces|
|4. Kenya Bakery Products Market Dynamics|
|4.1. Impact Analysis|
|4.2. Market Drivers|
|4.3. Market Restraints|
|5. Kenya Bakery Products Market Trends|
|6. Kenya Bakery Products Market Overview, By Product Types|
|6.1. Kenya Cakes and Pastries Market Revenues, 2016-2026F|
|6.2. Kenya Biscuits Market Revenues, 2016-2026F|
|6.3. Kenya Bread Market Revenues, 2016-2026F|
|6.4. Kenya Morning Goods Market Revenues, 2016-2026F|
|6.5. Kenya Others Market Revenues, 2016-2026F|
|7. Kenya Bakery Products Market Overview, By Distribution Channels|
|7.1. Kenya Bakery Products Market Revenues, By Hypermarkets/Supermarkets Distribution Channel, 2016-2026F|
|7.2. Kenya Bakery Products Market Revenues, By Convenience Stores Distribution Channel, 2016-2026F|
|7.3. Kenya Bakery Products Market Revenues, By Speciality Stores Distribution Channel, 2016-2026F|
|7.4. Kenya Bakery Products Market Revenues, By Online Retailing Distribution Channel, 2016-2026F|
|7.5. Kenya Bakery Products Market Revenues, By Other Distribution Channels, 2016-2026F|
|8. Kenya Bakery Products Market - Key Performance Indicators|
|9. Kenya Bakery Products Market - Opportunity Assessment|
|9.1. Kenya Bakery Products Market Opportunity Assessment, By Product Types, 2026F|
|9.2. Kenya Bakery Products Market Opportunity Assessment, By Distribution Channels, 2026F|
|10. Kenya Bakery Products Market Competitive Landscape|
|10.1. Kenya Bakery Products Market Revenue Share, By Companies, 2019|
|10.2. Kenya Bakery Products Market Competitive Benchmarking, By Operating & Technical Parameters|
|11. Company Profiles|
|12. Key Recommendations|