Rising Opportunities For The Bakery Industry
In Europe, the bakery industry is vital to the market, with bread, patisserie shops, and cafes playing an integral role in the culture of many nations. In 2021, total bakery consumption was 38 million tons across 29 countries in Europe. The bakery industry is well-established, offering a variety of product offerings with reputable distribution channels, regulations, innovation platforms, and consumer preferences. The bakery industry will remain one of the most important markets in the world for the coming years.
Cash transactions play a key role in European bakeries, but they can slow down service if not managed efficiently. Convenience is an important factor for Europeans when it comes to selecting food and younger generations are looking for fresh, organic, and artisanal options they can purchase on-the-go. With high customer service expectations, it’s important for bakeries to handle transactions accurately and efficiently or risk losing out to the competition.
The European bakery industry is driven by frequent innovations in technology and evolving consumer preferences. In an industry with many transactions conducted in cash, bakeries should consider investing in cash management solutions that are engineered to provide additional ingress protection in environments where excessive debris such as crumbs, sugar, and potentially liquid spills are present. These solutions can facilitate a large volume of cash transactions, performing consistently in high turnover environments while improving the checkout experience in a fast-paced environment.
Facts + Statistics
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Growth
The baking industry has an overall economic impact of over $186 billion in the U.S. | ABA
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Market Share
In Europe, bakery products accounted for a 38% share of the total market in 2023 | ABA
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Opportunity
In the U.S. the bakery industry employs almost 800,000 workers | ABA