Bagels are popular bakery products that are made from yeast-leavened dough and formed into a ring shape before baking. They are abundant in fiber, proteins, vitamins and minerals necessary for the human body. Bagels are versatile and can be consumed for breakfast, lunch or as snacks along with spreads.
The global bagel market is estimated to be valued at USD 5.99 Bn in 2024. The market expected to reach USD 8.45 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 4.6% from 2024 to 2031.
Key Takeaways
Key players operating in the bagel market are Luggage Forward, Send My Bag, Luggage Free,
AirPortr, My Baggage, BagsVIP, Excess Baggage Company, Travel Luggage, Luggage
Concierge, Deliv, Bagbnb, Luggage Delivery Services, FlyAway, CheckedAway, and LuggageHero. The growing demand for bagels especially among health conscious consumers have prompted manufacturers to launch variety of bagel products including whole grain, multigrain, flavored and gluten-free options. The increasing demand for bagels from developing regions of Asia Pacific and Latin America have accelerated global expansion strategies of key manufacturers.
Market key trends
One of the key trends driving growth in the Bagel market share is the rising preference for healthy snacking and breakfast options. Bagels are considered a healthier alternative to bread due to their high fiber and whole grain content. Furthermore, the expansion of the retail landscape, especially online, has made bagels more accessible to consumers worldwide. Specialized bagel chains and cafes are gaining popularity for their innovative flavors and healthy ingredients used in bagels. The market players are focusing on different product launches catering to various dietary needs to leverage growth opportunities.
Porter’s Analysis
Threat of new entrants: Low economies of scale and high capital requirements make the barriers to entry in this market high. Established players have well-known brand names and operational experience.
Bargaining power of buyers: Buyers have moderate bargaining power as there are many established players offering substitutable products. However, switching costs are low.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to minimal differentiation in raw materials and dependence on few raw material producers.
Threat of new substitutes: Low threat as bagels have well-established demand and nutritional benefits. Potential substitutes like bread offer marginally poorer nutritional profile.
Competitive rivalry: Fierce rivalry among competitors differentiate products based on taste, texture, ingredients and customize offerings. Pricing wars and brand promotions are common.
Geographical regions
North America dominates the Bagel market regions analysis accounting for the largest share in the global bagel market in terms of value in the historical year and is expected to continue dominating during the forecast period. Countries like the U.S. and copyright have seen bagels gain immense popularity as breakfast and snack options.
Asia Pacific is expected to be the fastest growing region during the forecast period, mainly driven by demand from emerging economies like India and China. Rising influence of Western food culture and busy lifestyles are boosting consumption of bagels as a convenient snack and meal option.
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About Author:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.
(LinkedIn: www.linkedin.com/in/alice-mutum-3b247b137)
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