11 Mar, 2021, 11:13 ET
ROCKVILLE, Md., March 11, 2021 /PRNewswire/ -- As the coronavirus pandemic caused lockdowns and a number of office workers relocated to working at home full-time in 2020, many consumers began to spend most of their time at home and looked for more home-based activities. Baking activity took off, and subsequently, sales of baking-related products soared by 24% last year to reach to $26.5 billion, reports market research firm Packaged Facts in the new report Home Baking: U.S. Market Trends & Opportunities.
The double-digit growth in 2020 was a departure from recent market trends. From 2016 to 2019, growth in baking product sales was modest. Sales of baking staples, including products such as white granulated sugar – which tend to be lower cost – fell during this time, while other product categories experienced growth.
In 2020, baking product sales soared as more people were spending much of their time at home and looking for productive activities to occupy their time. Baking to have comfort foods in a time of stress has also been a salient trend during the pandemic. Some consumers have also looked to eat healthier during the pandemic and have turned to baking snacks and treats that are better-for-you to improve health and well-being.
"Sales are expected to continue rising in 2021 as consumers continue to work from home or spend more leisure time at home. Comfort and wellness trends that have a positive effect on baking activity are also expected to continue in 2021," says Jennifer Mapes-Christ, food and beverage publisher for Packaged Facts.
After high sales levels seen in 2020 and 2021 due to the coronavirus pandemic, consumers are expected to engage in more activities outside the home and shift the share of food consumption toward away-from-home dining, leveling off home baking activity compared to during the pandemic, forecasts Packaged Facts. Nonetheless, sales of baking products will be higher in 2025 than in 2019 as a result of more consumers taking up home baking as an activity in the longer term after initially baking more during the pandemic. Still, the 2025 forecast is higher than it would be if the pandemic-induced changes in consumer baking activity and working from home had not occurred, as 2020 and 2021 trends will have permanent effects on some consumers' behavior.
More good news for the home baking industry is that most consumers bake at home at least some of the time. Some 84% of consumers surveyed in Packaged Facts' November-December 2020 National Online Consumer Survey reported some frequency of home baking activity. Distribution of those who bake frequently, often, or occasionally is relatively similar (22%, 23%, and 23%, respectively), while only 16% of consumers report baking rarely, and 16% report never baking. As such, Packaged Facts finds that 45% of consumers are "avid bakers" who bake at least once or twice a month. These home bakers are more likely to use most baking products and buy more baking products throughout the year to complete their baking projects.
To find out more, purchase Home Baking: U.S. Market Trends & Opportunities.
About the Report
To purchase Home Baking: U.S. Market Trends & Opportunities visit: https://www.packagedfacts.com/Home-Baking-Trends-Opportunities-14231526/. Members of the media can contact Packaged Facts' Communications Manager Daniel Granderson at [email protected] to request a complimentary report executive summary.
Home Baking: U.S. Market Trends & Opportunities is the go-to source for a complete understanding of U.S. consumer trends in home baking. This report combines Packaged Facts' extensive monitoring of the food and beverage market with proprietary surveys, and evaluates current trends and future directions for marketing and retailing, along with consumer patterns during the pandemic and across the broader food and beverage market.
Historical and forecast data are available for retail sales of packaged baking mixes and kits, pre-made refrigerated and frozen dough and crusts, frozen pizzas, frozen pies, and baking staples (baking chips, chocolate, and cocoa; baking nuts; baking powder and baking soda; coconut; cooking starches and rennet; corn, crystal, and white baking syrup; cornmeal and baking oat bran; disposable baking cups; dry and refrigerated yeast; edible cake decorations; flour; frosting and frosting mixes; maraschino cherries; marshmallow cream; molasses; pie/pastry filling; pizza sauce; and sugar and sugar substitutes).
Retail sales values of these items are provided for 2016-2020 and projected for 2021, 2022, and 2025.
About Packaged Facts
Packaged Facts, a division of MarketResearch.com, publishes market intelligence on a wide range of consumer market topics, including consumer demographics and shopper insights, consumer financial products and services, consumer goods and retailing, and pet products and services. Packaged Facts also offers a full range of custom research services. Reports can be purchased at our company website and are also available through MarketResearch.com.
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SOURCE Packaged Facts
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