Convenience store held significant revenue share in the South Africa Bakery Products Market – 6Wresearch
Convenience stores should be the focus segment on account of consumer preference as it is more convenient to buy bakery products from retail stores in the proximity of residential areas. Convenience stores in the Bakery Products Market in South Africa accounted for the highest share and it will keep growing in the coming years. South Africa bakery products market is primarily driven by the food consumption patterns in the country. As, the South African market is moving towards processed and packaged offerings, the current dynamic presents an opportunity for organized bakery market players, with visibility at retail stores being a key to capturing the consumer base. The market is accomplished growth and it will continue to accomplish growth as bakery products are preferred the most in the country.
According to 6wresearch, the South Africa Bakery Products Market revenue size is projected to grow at a CAGR of 2.7% from 2022-2028. The industry in the country is a well-established industry and it is gaining more success in the country owing to the growing demand for bakery products in the country. Development of the retail sector, with expansion of supermarket/ hyper market networks across key cities along with development of retail store chains would continue to support growth of the domestic bakery industry. There are many players in the market and market players work effectively to meet the demand for their consumers in every possible way.
According to Ravi Bhandari, Research Head, 6Wresearch, Bread segment accounts for a major chunk of the bakery products market in South Africa and is expected to retain its dominant position over the forecast period, with the demand for high fiber, and gluten free bread driving growth among the rising working professionals and youngsters in developing urban spheres. Bread, traditionally being a key ingredient of the staple diet in the country accounts for a major chunk of the South Africa bakery products market revenues.
“The South Africa Bakery Products Market (2022-2028)” report provides an in-depth analysis with 19 figures and 4 tables, covered in 70 pages. The report on the South Africa Bakery Products Market comprehensively covers the industry by products types, and distribution channels. The report provides a detailed as well as unbiased analysis of the on-going growth drivers, opportunities/high growth areas, and trends of the market which are anticipated support the stakeholders to align and devise their market strategies according to the latest and future market dynamics.
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