Opportunities in the

Asia-Pacific Bakery &

Cereals Sector
Analysis of Opportunities Offered by High-Growth Economies

GDCS0207RR

September 2020

Copyright @ GlobalData PLC. All rights reserved.

Reproduction of part or all of this contents without permission is prohibited.
 Report Scope
This report brings together multiple data sources to provide a comprehensive overview of Asia-Pacific bakery & cereals sector, analyzing data from 26 countries in the region. It includes analysis on
the following:

Market Environment: Includes sector size, market size, and growth analysis by category.

High-potential Countries’ Analysis: Indicates changing share of value consumption in the various bakery & cereals by category across high-potential countries in Asia-Pacific region. It also provides
Risk-Reward analysis of 4 countries across Asia-Pacific region based on market assessment, economic development, socio-demographic, governance indicators, and technological infrastructure.

Country Deep Dive: Provides the overview, demographic analysis, and key trends across high potential countries.

Success Stories: Provides some of the most compelling bakery & cereals manufacturers, brands, products, and marketing campaigns in Asia-Pacific region. It also provides a better understanding
of how a certain manufacturer achieved success in the sector, and insights.

Competitive Environment: Provides an overview of leading companies in Asia-Pacific region, besides analyzing the growth of private label in the region.

Report Scope
Health & Wellness Analysis*: Provides insights on the Health & Wellness products in terms of value and percentage share in the overall bakery & cereals sector during 2014–2024. The analysis
includes key Health & Wellness attributes and consumer benefits driving the sales of bakery & cereals sector in 2019. It also covers the market share of leading companies offering bakery &
cereals products with health and wellness attributes in the same year.

Distribution Analysis: Provides analysis on the leading distribution channels in Asia-Pacific bakery & cereals sector in 2019. It covers — Hypermarkets & Supermarkets, Food & Drinks Specialists,
Convenience Stores, eRetailers, “Dollar Stores”, Variety Stores & General Merchandise Retailers, Cash & Carries & Warehouse Clubs, Department Stores, Vending machines, Drug stores &
Pharmacies, Others.

Packaging Analysis*: The report provides percentage share (in 2019) and growth analysis (during 2014–2024) for various pack materials, pack type, closure, and primary outer types based on the
volume sales (by pack units) of bakery & cereals products.

Challenges and Future Outlook: Provides the challenges and future outlook pertaining to Asia-Pacific’s bakery & cereals sector.

Note : "Exchange rates from Timetric as on Jan, 2020"

*The analysis is based on data from 49 countries. Please refer to the appendix for detailed list
Date accessed : 25th June 2020

Source: Global Market Data: Segment Insights, Global Market Data: Brand Insights, Global Market Data: Channel Insights, Packaging: 2
Market Data – Primary Packaging and Outers Volume with 5 year Category Forecast
 Table of Contents
Executive summary 9-11
Part 1: Market Environment 12-16
Market size analysis – Asia-Pacific compared to other regions 13
Value and volume growth analysis by region 14
Asia-Pacific market growth analysis by country 15
Asia-Pacific market growth analysis by category 16
Part 2: High-Potential Countries’ Analysis 17–26

Methodology- Identifying high potential countries 18

Top four high-potential countries in Asia-Pacific 19

Overview of high-potential countries in Asia-Pacific 20

Growth contribution analysis by country (1/6) 21

Table of Contents (1/3)

Growth contribution analysis by country (2/6) 22

Growth contribution analysis by country (3/6) 23

Growth contribution analysis by country (4/6) 24

Growth contribution analysis by country (5/6) 25

Growth contribution analysis by country (6/6) 26

Value share analysis of bakery & cereals compared to other food sectors 27

Change in consumption levels by country and category 28

Per capita consumption analysis 29

Per capita expenditure analysis 30

Part 3: Country Deep Dive 31–56
Overview of Japanese bakery & cereals sector 33
Demographic analysis – Japan 34
Market size analysis of top 10 cities 35
Market size analysis of top 10 cities by categories 36
3
 Table of Contents
Top 10 cities contribution to volume growth 37
Bakeries and Cereals Sector in Japan – key trends 38
Overview of Australian bakery & cereals sector 40
Demographic analysis – Australia 41
Market size analysis of top 8 cities 42
Market size analysis of top 8 cities by categories 43
Top 8 cities contribution to volume growth 44
Bakeries and Cereals Sector in Australia – key trends 45
Overview of Chinese bakery & cereals sector 47
Demographic analysis – China 48
Market size analysis of top 10 cities 49
Market size analysis of top 10 cities by categories 50

Table of Contents (2/3)

Top 10 cities contribution to volume growth 51
Bakeries and Cereals Sector in China – key trends 52
Overview of Singaporean bakery & cereals sector 54
Demographic analysis – Singapore 55
Bakeries and Cereals Sector in Singapore – key trends 56
Part 4: Success Stories 57–61
About case studies 58
Case Study: Oat Bran by Quaker 59
Case study: FITTIFY Gourmet Superfood Upma/Poha (Quinoa & Millet) by Saffola 60
Case study: Barley+ By Freedom Foods 61
Part 5: Competitive Environment 62–67

Leading companies’ share in the Asia-Pacific bakery & cereals sector 63

Brand share analysis of top 5 companies 64
Leading companies in the Asia-Pacific bakery & cereals sector 65

4
 Table of Contents
Leading brands in the Asia-Pacific bakery & cereals sector 66
Private label penetration in the Asia-Pacific bakery & cereals sector 67
Part 6: Health & Wellness Analysis 68–74
Value share analysis of health & wellness market 69
Health & wellness market growth analysis by country 70
Key product attributes and consumer benefits 71
Leading health & wellness companies by category 72
Part 7: Distribution Analysis 75–80
Leading distribution channels by country 76
Leading distribution channels by category 77-80
Part 8: Packaging Analysis 81–83

Table of Contents (3/3)

Growth analysis by key pack material and pack type 82
Growth analysis by closure type and primary outer type 83
Part 9: Challenges and Future Outlook 84–86
Key challenges in the Asia-Pacific bakery & cereals sector 85
Future outlook of the Asia-Pacific bakery & cereals sector 86
Appendix 87–153
Definitions 154–169
About GlobalData 170–171

5
List of Tables
Regional comparison: Market size, growth, and per capita analysis, 2019–2024 13
Overview of high-potential countries in Asia-Pacific 20
Value share analysis of bakery & cereals compared to other food sectors 27
Change in consumption of category within bakery & cereals sector (value terms), by country, 2019–2024 28
Volume analysis of top 10 cities by category (Million Kg), 2018 36
Volume analysis of top eight cities by category (Million Kg), 2018 43
Volume analysis of top 10 cities by category (Million Kg), 2018 50
Top 5 companies share by brand (in value terms) in the Asia-Pacific bakery & cereals sector, 2019 64
Private Label penetration (in value terms) in bakery & cereals sector, 2019 67
Health & Wellness value and its share in overall sales, 2014–2024 69
Share of product attributes in high-potential countries Asia-Pacific, 2019 70
Leading Distribution Channels in Asia-Pacific by Country, 2019 76

List of Tables
Leading Distribution Channels in Asia-Pacific by Category, 2019 77-80

6
List of Figures
Annual value growth analysis by region, 2019–2024 14
Annual volume growth analysis by region, 2019–2024 14
Category volume growth analysis of countries compared to regional average growth 15
Country value size and CAGR analysis grid based on regional average 15
Value and volume growth analysis by category in Asia-Pacific, 2019–2024 16
Country-level contribution to the growth of baking ingredients category in Asia-Pacific, 2019–2024 21
Country-level contribution to the growth of baking mixes category in Asia-Pacific, 2019–2024 21
Country-level contribution to the growth of bread & rolls sector in Asia-Pacific, 2019–2024 22
Country-level contribution to the growth of breakfast cereals category in Asia-Pacific, 2019–2024 22

List of Figures (1/2)

Country-level contribution to the growth of cakes, pastries & sweet pies category in Asia-Pacific,
23
2019–2024
Country-level contribution to the growth of cereal bars category in Asia-Pacific, 2019–2024 23
Country-level contribution to the growth of cookies (sweet biscuits) category in Asia-Pacific, 2019–
24
2024
Country-level contribution to the growth of breakfast cereals category in Asia-Pacific, 2019–2024 24
Country-level contribution to the growth of energy bars category in Asia-Pacific, 2019–2024 25
Country-level contribution to the growth of morning goods category in Asia-Pacific, 2019–2024 25
Country-level contribution to the growth of savory biscuits category in Asia-Pacific, 2019–2024 26
Per Capita Consumption by category in Asia-Pacific by Country, 2019 27
Per Capita Expenditure by category in Asia-Pacific by Country, 2019 28
Japan: category share 33
Demographic analysis* – Japan 34
Market size analysis of top 10 cities 35

7
List of Figures
Market size analysis of top 10 cities by categories 36
Top 10 cities contribution to volume growth 37
Australia: category share 40
Demographic analysis* – Australia 41
Market size analysis of top 8 cities 42
Market size analysis of top 8 cities by categories 43
Top 8 cities contribution to volume growth 44
China: category share 47
Demographic analysis* – China 48

List of Figures (2/2)

Market size analysis of top 10 cities 49
Market size analysis of top 10 cities by categories 50
Top 10 cities contribution to volume growth 51
Singapore: category share 54
Demographic analysis* – Singapore 55
Leading companies’ share in the Asia-Pacific bakery & cereals sector 63
Leading companies in Asia-Pacific bakery & cereals sector by value sales (US$ Million), 2019 65
Leading Brands (including Private label) in Asia-Pacific bakery & cereals sector by value sales (US$
66
Million), 2019
Country-level contribution to the growth of H&W Market in Asia-Pacific, 2019–2024 70
Growth analysis by key pack material and pack type 82
Growth analysis by closure type and outers 83

8
Executive Summary
Executive Summary (1/2)
Asia-Pacific bakery & cereals sector is forecast to grow at a CAGR of 4.1% during 2019–2024

Market Environment High-Potential Countries’ Analysis

The global bakery & cereals sector was valued at US$597,966.8 million in 2019
Based on the relative performance of countries on multiple metrics, China, Japan,
and is expected to grow at a CAGR of 2.3% over 2019–2024 to reach
Australia, and Singapore were shortlisted out of 26 countries as high-potential

Opportunities in the Asia-Pacific bakery & cereal sector

US$669,253.1 million by 2024. Asia-Pacific was the third largest market in the
countries in Asia-Pacific primarily due to the large bakery & cereals sector size,
global bakery & cereals sector with value sales of US$1,38,271.2 million in 2019.
projected high-value growth rates, and projected rising per capita value growth
The region was the smallest market in terms of volume with 31,865.4 million kg
levels. China was the largest market in value and volume terms in 2019. China is
during the same year. Asia-Pacific is set to emerge as the world’s fastest-growing
also expected to record the highest value CAGR of 5.4% and highest volume
market, compared to other regions, with value and volume CAGRs of 4.1% and
CAGR of 1.6% respectively, during 2019–2024.
0.3%, respectively, during 2019–2024.

Competitive Environment Health & Wellness Analysis

In the Asia-Pacific region, bakeries & cereals with health & wellness (H&W)
Asia-Pacific bakery & cereals sector was fragmented with the top five companies attributes accounted for 11.3% of the overall value sales in 2019, lower than the
accounting for a share of 8.5% in 2019, of which Mondelez International, Inc. global share of 25.6% in the same year. The H&W in the bakery & cereals sector
held a share of 2.5%. It was followed by Yamazaki Baking Co., Ltd., Britannia, in the Asia-Pacific saw a growth during 2014–2019 at a CAGR of 3.9% and is
Parle Products Pvt Ltd, and Orion Confectionery Co, Ltd. which accounted for forecast to grow at a positive CAGR of 2.5% over 2019–2024, driven by rising
2.3%, 1.4%, 1.2% and 1.1% shares, respectively. Artisanal producers had 35.7% living standards and health consciousness among consumers. Among the high-
share whereas private labels held 6.6% value share of overall sales in 2019. potential countries, Japan is expected to register the highest CAGR growth of 5%
each during 2019–2024, followed by Singapore with a CAGR growth of 2.8%.

10
Executive Summary (2/2)
Flexible packaging was the most widely used pack material, accounting for a 70.5% in Asia-Pacific bakery & cereals sector, in 2019

Distribution Analysis Packaging Analysis

Food & Drinks Specialists was the leading distribution channel in the Asia-Pacific Flexible packaging was the most widely used pack material, accounting for a
bakery & cereals sector, with a value share of 38.2% in 2019, followed by 70.5% share in 2019, followed by rigid plastics with a 23.7% share in the same

Opportunities in the Asia-Pacific bakery & cereals sector

hypermarkets & supermarkets stores with a 33.5% share. Among the high- year. Bag/Sachet was the most commonly used pack type in the Asia-Pacific
potential countries, hypermarkets & supermarkets stores accounted for the bakery & cereals sector, accounting for 38.2% share in 2019. This was followed
highest value share of 60.8% in Japan. The hypermarkets & supermarkets stores by film with 31.5% share. The use of closure and primary outer type was not
accounted for 56.9% and 55% shares in Australia and Singapore, respectively. In common in bakery & cereals packaging in the Asia-Pacific region. However,
China, the food & drinks specialists led the distribution of bakery & cereal plastic tie accounted for 6.8% share in closure type packaging closely followed by
products with 51.3% share, followed by hypermarkets & supermarkets with film with 5.5% share. While, 1.7% of bakery & cereals products used carton-
24.1%, in 2019. folding primary outer type in 2019.

11
Part 1: Market Environment
Part 1: Market Environment

Market size analysis – Asia-Pacific compared to other regions

Asia-Pacific is expected to register fastest value growth in the global bakery & cereals market during 2019–2024
The global bakery & cereals sector was valued at US$597,966.8 million in 2019 and is expected to grow at a CAGR of 2.3% over 2019–2024 to reach US$669,253.1 million by 2024.
Asia-Pacific was the third largest market in the global bakery & cereals sector with value sales of US$1,38,271.2 million, accounting for a share of 23.1% in 2019. The region was
also the smallest market in terms of volume with 31,865.4 million kg, during the same year. Asia-Pacific is set to emerge as the world’s fastest-growing market, compared to other
regions, with value and volume CAGRs of 4.1% and 0.3%, respectively, during 2019–2024. The per capita consumption of bakery and cereal products in Asia-Pacific stood at 7.8 kg,
while per capita expenditure stood at US$34.1 in 2019.

Regional comparison: Market size, growth, and per capita analysis, 2019–2024

Value CAGR Volume (kg Million), Volume CAGR (2019– Per capita consumption Per capita expenditure
Region Value (US$ Million), 2019
(2019–2024) 2019 2024) (kg), 2019 (US$), 2019

Global 597,966.8 2.3% 180,559.9 -0.6% 26.6 88.0

Asia-Pacific 138,271.2 4.1% 31,865.4 0.3% 7.8 34.1

Americas 212,572.3 2.7% 40,348.3 0.2% 41.8 220.3

Eastern Europe 46,461.5 2.0% 35,560.1 0.2% 88.6 115.8

Western Europe 150,901.7 0.2% 32,565.6 -1.9% 76.7 355.3

Middle East &

49,760.1 1.4% 40,220.6 -1.8% 42.7 52.8
Africa

13
Part 1: Market Environment

Value and volume growth analysis by region

Asia-Pacific bakery & cereals sector is forecast to register the fastest growth in both value and volume terms, during 2019–2024

The graphs below provide an overview of annual (YoY) value and volume growth analysis of the bakery & cereals sector in Asia-Pacific as compared to other regions in the world over 2019–2024.
Asia-Pacific is forecast to record the fastest value growth compared to other regions during 2019–2024. The annual value growth of the region is expected to maintain more consistent year-on-
year (yoy) percentage growth in comparison to other regions during the forecast period. However, the volume growth in the Asia-Pacific is anticipated to decline sharply from 4.3% in 2019 to
0.4% in 2020.

Annual value growth analysis by region, 2019–2024 Annual volume growth analysis by region, 2019–2024

5.0%
6%

5% 4.0%

4% 3.0%

3% 2.0%

2%
1.0%

1%
0.0%
2019 2020 2021 2022 2023 2024
0%
2019 2020 2021 2022 2023 2024 -1.0%
-1%
-2.0%
-2%
-3.0% Asia Pacific Americas Eastern Europe
-3% Asia Pacific Americas
Eastern Europe Western Europe Western Europe Middle East & Africa
-4.0%
-4% Middle East & Africa

14
 Part 1: Market Environment

Asia-Pacific market growth analysis by country

Australia, China, India and Japan, with high market size and value forecast growth, were the key markets for bakery & cereals in Asia-
Pacific
Category volume growth analysis of countries compared to regional average Country value size and CAGR analysis grid based
growth on regional average
Twelve countries are expected to register more than regional average growth in terms of volume during High Value, high growth country: Australia, China, India, Japan
2019–2024 Low value, high growth country: Azerbaijan, Georgia, Hong Kong, Kazakhstan,
Malaysia, Myanmar, Singapore, Sri Lanka, Turkmenistan, Vietnam
4%

3% 2.7% Azerbaijan, Georgia,

Hong Kong, Kazakhstan,
Australia China, India,
Country volume CAGR (%), 2019–2024

2% 1.6%
Malaysia, Myanmar, Indonesia

High
1.3% Japan
0.5% Singapore, Sri Lanka,
1% 1.0%
Turkmenistan, Vietnam
0.0%
0%

Value CAGR (2019–2024)

-0.3% -0.5% -0.9% 0.0% 0.0%
-1% -1.3% -0.4%
-1.2% -1.9% -2.0%
-2% -2.0% -1.9%

Medium
-1.6% -2.3% New Zealand South Korea
-2.7% -2.6% -3.1%
-3%

-4% -4.4% -4.4% -3.8%

-5%
Armenia, Bangladesh,
Kyrgyzstan, Macau,
Pakistan, Philippines,

Low
Taiwan, Thailand,
Uzbekistan

Low Medium High

Value (US$), 2019

15
Part 1: Market Environment

Asia-Pacific market growth analysis by category

Cakes, pastries & sweet pies is forecast to be the fastest growing bakery & cereals category in value terms during 2019–2024

The figure below provides an overview of the growth potential of all eleven categories in the Asia-Pacific bakery & cereals sector during 2019–2024. In 2019, the cakes, pastries & sweet pies
category accounted for the largest value share of 44.4%, followed by bread & rolls, which held 15.9% value share. It was closely followed by Cookies (Sweet Biscuits) category with 15.4% share.
Over 2019–2024, the cakes, pastries & sweet pies category is expected to register the fastest value CAGR of 5.8% followed by cookies (sweet biscuits) at 4.4%. Similarly, in volume terms, the
cakes, pastries & sweet pies category is forecast to register the fastest volume CAGR growth of 2.3%, closely followed by cookies (sweet biscuits) at 2.2%.

Value and volume growth analysis by category in Asia-Pacific, 2019–2024

4% Cookies (Sweet Biscuits)

3%
Volume CAGR, 2019–2024

Baking Mixes
2% Dough Products
Cakes, Pastries & Sweet Pies
1% Cereal Bars Energy Bars

-1% 0% Baking Ingredients

1% 2% 3% 4% 5% 6% 7%
Savory Biscuits Breakfast Cereals
-2%
Morning Goods
-3%
Bread & Rolls
-4%

Value CAGR, 2019–2024 Size of bubble represents market value in US$ 2019

16
Part 2: High-Potential Countries’ Analysis
Part 2: High-Potential Countries’ Analysis

Methodology- Identifying high potential countries

How have we ranked risks/rewards for this report?

How have the countries in this report been selected and scored?

• Using a unique ranking system, GlobalData has identified four countries (top opportunities) from a pool of 26 economies in Asia-Pacific region.

• By identifying the market rewards and potential risk, GlobalData has created an aggregated scoring system to rank rewards vs. risks in order to identify the top opportunity markets.

• Rewards are quantified by current market value and forecast growth, while risk quantifies the potential for market disruption and uncertainty across a range of topics including political
issues, corruption, price inflation, and urbanization, with an aim to fully consider the attractiveness of the market and rank accordingly.

• As the aim of this report is to identify the high-potential countries, the ranking system is weighted 70%/30% in favor of reward vs. risk. This is further weighted in 70%/30% for CAGR (2019–
2024)/current market value.

• The ranked database of countries is then analyzed by GlobalData’s analyst team, with the top four being identified through internal consultation.

• The GlobalData opportunity score is ranked low to high, with higher scores indicating greater reward/less risk.

18
Part 2: High-Potential Countries’ Analysis

Top four high-potential countries in Asia-Pacific

GlobalData’s unique scoring system identifies countries with potential growth opportunities
Based on the relative performance of countries on multiple metrics, China, Japan, Australia, and Singapore were shortlisted out of 26 countries as high-potential countries in Asia-Pacific
primarily due to the large bakery & cereals sector size, projected high-value growth rates, and projected rising per capita value growth levels. The following slides feature a deep-dive analysis of
these four countries, highlighting the current market scenario and trends.
China Japan

Opportunity score: 88.0 Opportunity score: 102.0

Opportunity rank: 8 Opportunity rank: 1

Australia

Opportunity score: 92.4

Opportunity rank: 4
Singapore
Opportunity score: 87.7
Opportunity rank: 9

19
Part 2: High-Potential Countries’ Analysis

Overview of high-potential countries in Asia-Pacific

China registered the highest value share in Asia-Pacific bakery & cereals sector in 2019
The table below provides an overview of the market size (value and volume) and growth of the high potential countries in Asia-Pacific as identified though GlobalData’s scoring system.
Among high potential countries, China accounted for a value share of 49.6% in 2019 and is expected to increase from US$68,579.8 million in 2019 to US$89,248.9 million by 2024, registering
a CAGR of 5.4% during 2019–2024 which is highest among the high potential countries in the region. China is also expected to register the highest volume CAGR (1.6%), among the high-
potential countries during 2019–2024.

Japan Australia China Singapore

Value (US$ Million), 2014 23,623.7 8,303.8 51,175.0 588.4

Value (US$ Million), 2019 25,449.9 7,546.9 68,579.8 727.9

Value

Value (US$ Million), 2024 30,482.4 8,384.9 89,248.9 827.9

Value CAGR, 2014–2019 1.5% -1.9% 6.0% 4.3%

Value CAGR, 2019–2024 3.7% 2.1% 5.4% 2.6%

2,386.2 980.6 8,973.5 105.2

Volume (kg Million), 2014
2,565.1 1,114.8 11,876.1 136.5
Volume (kg Million), 2019
Volume

2,496.8 1,142.6 12,881.6 121.8

Volume (kg Million), 2024
1.5% 2.6% 5.8% 5.3%
Volume CAGR, 2014–2019
-0.5% 0.5% 1.6% -2.3%
Volume CAGR, 2019–2024

20
Part 2: High-Potential Countries’ Analysis

Growth contribution analysis by country (1/6)

China is expected to contribute the most towards the growth of baking ingredients and baking mixes categories during 2019–2024
Country-level contribution to the growth of baking ingredients category in Asia-Pacific, 2019–2024

1,980 4.7 40.5 9.2 23.0 1,803.7

19.8 61.1
1,780 1,661.6
The baking ingredients category in the Asia-Pacific region was
US$ Million

1,580
1,380 valued at US$1,661.4 million in 2019. With leading contributions
1,180 expected from China (US$61.1 million) and Indonesia (US$40.5
980 million), the baking ingredients category in the region is forecast
780 to reach US$1,803.7 million by 2024, growing at a CAGR of 1.7%
580
over 2019-2024.
380
180
-20
2019 Japan Australia China Singapore Indonesia South Korea Others 2024
(16.2)

Country-level contribution to the growth of baking mixes category in Asia-Pacific, 2019–2024

5,000 10.0 4,356.9

550.2 0.1 66.2 7.0
4,500 The value sales of baking mixes category in Asia-Pacific is expected
85.6
4,000 3,567.2 70.6
to grow from US$3,567.2 million in 2019 to US$4,356.9 million in
3,500
2024, at a CAGR of 4.1%. China and Australia are expected to lead
US$ Million

3,000
2,500 the sector growth with US$550.2 million and US$85.6 million
2,000 contributions, respectively, during 2019–2024.
1,500
1,000
500
0
2019 Japan Australia China Singapore Indonesia Taiwan Others 2024

21
Part 2: High-Potential Countries’ Analysis

Growth contribution analysis by country (2/6)

Japan is projected to make the highest contribution to the growth of breads & rolls category during 2019–2024

Country-level contribution to the growth of bread & rolls sector in Asia-Pacific, 2019–2024

102.1
24,850 115.4 229.6 52.9 206.2 23,312.9
21,931.8 821.5

The value sales of bread & rolls category in Asia-Pacific is expected

US$ Million

19,850
to grow from US$21,931.8 million in 2019 to US$23,312.9 million
14,850
in 2024, at a CAGR of 1.2% during 2019–2024. Japan and China are
9,850 set to make leading contributions of US$821.5 million and
US$206.2 million, respectively, during the forecast period.
4,850

-150
2019 Japan Australia China Singapore Indonesia Azerbaijan Others 2024
(146.6)

Country-level contribution to the growth of breakfast cereals category in Asia-Pacific, 2019–2024

41.5 38.8 72.1 7,508.8

7,980 580.6
25.2
6,352.5 398.9
6,980
5,980
4,980 The value sales of breakfast cereals category in the Asia-Pacific is
3,980 expected to grow from US$6,352.5 million in 2019 to US$7,508.8
2,980 million in 2024, at a CAGR of 3.4%. China is set to make leading
1,980 contributions of US$580.6 million, followed by Japan (US$398.9
980 million) during 2019–2024.
-20
2019 Japan Australia China Singapore New Zealand India Others 2024
(0.9)
22
Part 2: High-Potential Countries’ Analysis

Growth contribution analysis by country (3/6)

China will lead the growth of cakes, pastries & sweet pies category during 2019–2024
Country-level contribution to the growth of cakes, pastries & sweet pies category in Asia-Pacific, 2019–2024

90,000 16.8 168.4 205.2

16,974.0 260.8 81,247.7
80,000
The value sales of cakes, pastries & sweet pies in the Asia-Pacific is
US$ Million

70,000 61,370.6 2,100.4 151.5

60,000 expected to grow from US$61,370.6 million in 2019 to
50,000 US$81,247.7 million in 2024, at a value CAGR of 5.8%. China and
40,000 Japan are set to make leading contributions of US$16,974 million,
30,000 and US$2,100.4 million, respectively, during the forecast period.
20,000
10,000
0
2019 Japan Australia China Singapore India Indonesia Others 2024

Country-level contribution to the growth of cereal bars category in Asia-Pacific, 2019–2024

1,799 38.7 1.8 0.2 2.7 2.4 1,668.5

189.3
1,599 1,434.2
1,399 The value sales of cereal bars category in the Asia-Pacific is
1,199 expected to grow from US$1,434.2 million in 2019 to US$1,668.5
999 million in 2024, at a CAGR of 3.1%. Japan and Australia are set to
US$ Million

799 make leading contributions of US$189.3 million and US$38.7

599 million during 2019–2024.
399
199
-1
2019 Japan Australia China Singapore Vietnam New Zealand Others 2024
(0.8)

23
Part 2: High-Potential Countries’ Analysis

Growth contribution analysis by country (4/6)

Japan is projected to make the highest contribution to the growth of breads & rolls category during 2019–2024

Country-level contribution to the growth of cookies (sweet biscuits) category in Asia-Pacific, 2019–2024

102.1
24,850 115.4 229.6 52.9 206.2 23,312.9
21,931.8 821.5

The value sales of bread & rolls category in Asia-Pacific is expected

US$ Million

19,850
to grow from US$21,931.8 million in 2019 to US$23,312.9 million
14,850
in 2024, at a CAGR of 1.2% during 2019–2024. Japan and China are
9,850 set to make leading contributions of US$821.5 million and
US$206.2 million, respectively, during the forecast period.
4,850

-150
2019 Japan Australia China Singapore Indonesia Azerbaijan Others 2024
(146.6)

Country-level contribution to the growth of breakfast cereals category in Asia-Pacific, 2019–2024

41.5 38.8 72.1 7,508.8

7,980 580.6
25.2
398.9
6,980 6,352.5 The value sales of breakfast cereals category in the Asia-Pacific is
5,980 expected to grow from US$6,352.5 million in 2019 to US$7,508.8
4,980 million in 2024, at a CAGR of 3.4%. China is set to make leading
3,980 contributions of US$580.6 million, followed by Japan (US$398.9
2,980 million) during 2019–2024.
1,980
980
-20
2019 Japan Australia China Singapore New Zealand India Others 2024
(0.9)
24
Part 2: High-Potential Countries’ Analysis

Growth contribution analysis by country (5/6)

Japan will contribute the most to the growth of morning goods category during 2019–2024
Country-level contribution to the growth of energy bars category in Asia-Pacific, 2019–2024

1,600 87.0 0.2 1.5 0.2 1,386.1

3.4 1.1
1,400 159.6
The value sales of energy bars category in the Asia-Pacific is
US$ Million

1,133.0
1,200
1,000
expected to grow from US$1,133.0 million in 2019 to US$1,386.1
million in 2024 at a value CAGR of 4.1% during 2019–2024. Japan
800
is forecast to contribute the highest to the growth with US$159.6
600
million, followed by Australia (US$87.0 million).
400
200
0
2019 Japan Australia China Singapore New Zealand Vietnam Others 2024

Country-level contribution to the growth of morning goods category in Asia-Pacific, 2019–2024

10,000
143.8 8,113.9
275.1 51.7 2.5 32.5 33.0 75.5 The value sales of morning goods category in the Asia-Pacific is
8,000 7,499.8
expected to grow from US$7,499.8 million in 2019 to US$8,113.9
million in 2024, at a value CAGR of 1.6%. Japan is expected to lead
US$ Million

6,000
the category growth with a US$275.1 million contribution during
4,000 2019–2024, followed by China(US$143.8).

2,000

0
2019 Japan Australia China Singapore India Thailand Others 2024

25
Part 2: High-Potential Countries’ Analysis

Growth contribution analysis by country (6/6)

In Asia-Pacific, India and Japan are projected to make highest contributions to the growth of savory biscuits category during 2019–2024

Country-level contribution to the growth of savory biscuits category in Asia-Pacific, 2019–2024

11,500 8,853.3
248.9 86.3 15.0 395.2 25.7 30.4
9,500 8,534.9 The value sales of savory biscuits category in the Asia-Pacific is
US$ Million

expected to grow from US$8,534.9 million in 2019 to US$8,853.3

7,500
million in 2024 at a value CAGR of 0.7% during 2019–2024. India
5,500 and Japan are set to make the largest contributions of
3,500
US$395.2 million, and US$248.9 million, respectively, during the
forecast period.
1,500

-500
2019 Japan Australia China Singapore India Malaysia Others 2024
(483.0)

26
Part 2: High-Potential Countries’ Analysis

Value share analysis of bakery & cereals compared to other food sectors
Australia had higher value share of bakery & cereals sector in comparison to other high potential countries in the Asia-Pacific
The chart below provides the value share of different food sectors across high-potential countries in the Asia-Pacific region in 2019. Asia-Pacific food industry was largely dominated by the
meat, and dairy & soy food sector. Australian bakery & cereals sector accounted 19.5% value share of overall food industry, which was highest among all high potential countries in Asia-Pacific
in 2019. It was closely followed by Singapore and Japan with 18.8% and 18.7% value share in the same year.

Value share of bakery & cereals sector as a proportion of overall food by country, 2019
Dairy & Soy Prepared
Bakery & Confectionery Savory Snacks
Food Meat Meals Others*
Cereals

Japan 18.7% 5.9% 16.4% 18.2% 14.7% 7.2% 18.9%

High-Potential Countries

Australia 19.5% 8.6% 18.5% 35.1% 2.8% 2.3% 13.2%

China 9.6% 2.5% 12.1% 64.1% 1.0% 4.2% 6.5%

Singapore 18.8% 6.3% 22.6% 39.9% 0.9% 4.0% 7.5%

Others 15.3% 6.8% 25.4% 32.8% 1.4% 7.4% 10.9%

Others* include seasonings, dressings & sauces, ice cream, and savory & deli foods 27
Part 2: High-Potential Countries’ Analysis

Change in consumption levels by country and category

Consumption share of savory biscuits category is forecast to increase across all high-potential countries except China
The following table provides analysis of the change in consumption share (by value) of the various categories of bakery & cereals during 2019–2024. Among the various categories, cakes,
pastries & sweet pies category is anticipated to witness growth in consumption share among all high potential countries except Japan. Apart from that, savory biscuits are expected to
witness growth in consumption in all high potential countries except China. Cereal bars category is anticipated to witness no change in consumption share in all high potential countries
during 2019–2024.

Change in consumption of category within bakery & cereals sector (value terms), by country, 2019–2024
Cakes, Cookies Dough
Baking Baking Bread & Breakfast Cereal Energy Morning Savory
Pastries & (Sweet Products
Ingredients Mixes Rolls Cereals Bars Bars Goods Biscuits
Sweet Pies Biscuits)

Japan
High-Potential Countries

Australia

China

Singapore

Other Asia-
Pacific Countries

Increase Decrease No change

28
Part 2: High-Potential Countries’ Analysis

Per capita consumption analysis

The bread & rolls category in Asia-Pacific recorded the highest per capita consumption at 3 Kg in 2019
Out of eleven categories, bread & rolls category led the sector with highest per capita consumption of 3 kg in 2019, followed by the cakes, pastries & sweet pies category which registered per
capita consumption of 2.3 kg. Australia led the region with the highest per capita consumption across all categories., and in breads & rolls category, Australia registered a per capita consumption
of 17.2 kg in 2019. Among the high potential countries, China registered lowest per capita consumption in all categories except cakes, pastries & sweet pies and dough products in the same
year.

Per Capita Consumption by category in Asia-Pacific by Country, 2019

Baking Ingredients Baking Mixes Bread & Rolls Breakfast Cereals Cakes, Pastries & Cereal Bars
(Kg) (Kg) (Kg) (Kg) Sweet Pies (Kg)
4.7
(Kg)
0.9 4.6 17.2 0.8
0.7 13.3 7.1
5.3 0.5
0.4 6.0 3.4
2.3 2.4
3.0 0.6 0.6
0.4 0.3 0.9 0.2 0.3 0.02 0.0002 0.008
0.04 0.01 0.1 0.2

APAC JP AU CH SP APAC JP AU CH SP APAC JP AU CH SP APAC JP AU CH SP APAC JP AU CH SP

APAC JP AU CH SP

Cookies (Sweet Biscuits) Dough Products Energy Bars Morning Goods Savory Biscuits
(Kg) (Kg) (Kg) (Kg) (Kg)
1.6
1.5
4.1 3.4
3.0 2.8 0.3 2.4
2.2
0.2 0.2 0.3 0.3 0.3
1.1 1.5
0.6 0.3 0.4 0.5
0.3 0.4 0.5
0.01 0.0005
APAC JP AU CH SP
APAC JP AU CH SP APAC JP AU CH SP
APAC JP AU CH SP APAC JP AU CH SP

Note: APAC=Asia-Pacific; JP=Japan; AU=Australia; CH=China; SP=Singapore

29
Part 2: High-Potential Countries’ Analysis

Per capita expenditure analysis

Australia accounted for the highest PCE across all bakery & cereals categories in 2019
In terms of per capita expenditure (PCE) in the bakery & cereals sector, cakes, pastries & sweet pies category led the sector with US$15.1 in 2019, followed by bread & rolls category with PCE of
US$5.4, respectively. Across all categories, Australia accounted for the highest PCE in 2019. While China registered lowest PCE across all categories except baking mixes and cakes, pastries &
sweet pies categories. Singapore registered lowest PCEs across baking mixes and cakes, pastries & sweet pies categories with US$0.1 and US$11.7, respectively.

Per Capita Expenditure by category in the Asia-Pacific by Country, 2019

Baking Mixes Bread & Rolls Breakfast Cereals Cakes, Pastries & Sweet Pies Cereal Bars
Baking Ingredients
(US$) (US$) (US$) (US$) (US$)
(US$)
93.4
16.7 36.7 85.4
14.0
10.2 49.7
6.8 7.4
31.5
4.8 24.5 8.4 8.8 22.8
3.3 15.1 11.7
0.4 0.9 1.4 1.3 5.4 3.6 1.6 1.8 0.4 0.004 0.2
0.1

APAC JP AU CH SP APAC JP AU CH SP APAC JP AU CH SP APAC JP AU CH SP APAC JP AU CH SP APAC JP AU CH SP

Cookies (Sweet Biscuits) Dough Products Energy Bars Morning Goods Savory Biscuits
(US$) (US$) (US$) (US$) (US$)
42.2 17.4
32.1 10.9
23.4 10.2 10.1
7.7 22.6 22.9
5.8 5.4
2.6 4.0 3.5
5.2 4.2 1.3 2.1
0.9 0.3 0.01 3.0
1.8 1.6

APAC JP AU CH SP APAC JP AU CH SP APAC JP AU CH SP APAC JP AU CH SP

APAC JP AU CH SP

Note: APAC=Asia-Pacific; JP=Japan; AU=Australia; CH=China; SP=Singapore

30
Part 3: Country Deep Dive
Japan
Part 3: Country Deep Dive

Overview of Japanese bakery & cereals sector

Cakes, pastries, and sweet pies dominated the Japanese bakery & cereals sector in 2019
Market size and growth Category
Category
share,
share
2019
2.4% 1.6% 1.2%
Japan accounted for 18.4% value share in Asia-Pacific bakery & 2.7%
2014 Cakes, Pastries & Sweet Pies
cereals sector 2.9%
US$23,623.7 m Cookies (Sweet Biscuits)
In Asia-Pacific, Japan was the second largest market among the
high potential countries for bakery & cereals sector, with a value 3.6% Bread & Rolls
share of 18.4% in 2019. The market for bakery & cereals in Japan 4.2% Morning Goods
is forecast to grow at a CAGR of 3.7% during 2019–2024 to reach
2019 US$30,482.4 million by 2020. Cakes, pastries & sweet pies was 11.2%
42.2% Breakfast Cereals
US$25,449.9 m the largest category with 42.2% share in 2019. The key pack 2019 Cereal Bars
material was flexible packaging which accounted for 67.9% share
Energy Bars
in the country. Hypermarkets & supermarkets was the leading
distribution channel with 60.8% share in the Japanese bakery & 12.1% Savory Biscuits
2024 cereals sector in 2019.
Baking Ingredients
US$30,482.4 m 15.9%
CAGR (2014-19) CAGR (2019-24) Baking Mixes

1.5% 3.7% Dough Products

Leading companies, 2019 Key pack material Key distribution channel

Flexible Packaging Hypermarkets &

67.9% share Supermarkets
Yamazaki Baking Co.,
Ltd.
Pasco Shikishima
Corporation
Ezaki Glico co., Ltd
(in pack units), 2019 60.8% value share, 2019
2.5% share
12.5% share 2.6% share

[1]
33
GlobalData Macroeconomic Indicators
Part 3: Country Deep Dive

Demographic analysis* – Japan

Consumers with upper secondary education led the bakery and cereal market in Japan
Gender Age Group
Consumption by gender Consumption by age group

Kids & Babies Early Young Older Young Pre-Mid-Lifers Mid-Lifers Older
Male Adults Adults Consumers
49.1%
50.9% Female 0–15 16–24 25–34 35–44 45–54 55+

17.1% 9.8% 12.3% 16.0% 11.8% 33.0%

Education Urbanization
Consumption by education Consumption by degree of urbanization
4.3% Pre-Primary
7.1%

Primary
31.5%
18.2% 0.3% Urban
Lower Secondary

Upper Secondary
4.3% Rural
Post Secondary- Non Tertiary
34.6% 99.7%
Tertiary

*Analysis is based on 2018 consumer data 34

 Part 3: City Deep Dive

Market size analysis of top 10 cities

The top 10 cities in the Japanese bakery & cereals sector accounted for 58% of the overall volume sales in 2018

The top 10 cities in the Japanese bakery & cereals sector accounted for 58% of overall volume sales in 2018, up from 55.6% in 2013. Tokyo emerged as the largest bakery & cereals market in Japan,
accounting for 29.7% volume share and 739.9 million kg in 2018, followed by Osaka and Nagoya with 345.8 million kg (13.9%) and 131.7 million kg (5.3%), respectively, in the same year. The
bakery & cereals market in Tokyo recorded the fastest growth with a CAGR of 2.6%, during 2013–2018 while Kitakyushu recorded the slowest growth at a CAGR of 1.5%, during the same period.

Volume growth analysis of top 10 cities (Million Kg), 2013–2018

Volume CAGR (2013–2018) 2.6% 1.9% 2.2% 2.6% 2.2% 2.2% 2.1% 2.5% 1.5% 1.6%

Share of Nominal GDP (USD),

34.8% 3.8% 2.5% 1.6% 1.9% 1.6% 1.6% 0.3% 0.7% 1.3%
2018

Share of Population, 2018 29.8% 2.2% 1.8% 1.2% 2.1% 1.8% 1.7% 0.3% 0.8% 1.1%

35
 Part 3: City Deep Dive

Market size analysis of top 10 cities by category

Cakes, pastries & sweet pies is the leading category across the top 10 cities in the country

Cakes, pastries & sweet pies was the leading category in volume terms across the top 10 cities in the Japanese bakery & cereals sector in 2018. Tokyo recorded the highest consumption of cakes,
pastries & sweet pies, accounting for 261.8 million kg in 2018, followed by Osaka and Nagoya, which accounted for 122.4 million kg and 46.6 million kg, respectively, in the same year. Bread & rolls
is the second largest category by consumption across the leading cities in Japan with volume sales of 220.3 million kg and 103.4 million kg, respectively, in 2018.

Volume analysis of top 10 cities by category (Million Kg), 2018

Cookies
Cakes, pastries Morning Breakfast Dough Baking
Category Bread & rolls (sweet Cereal bars Baking mixes Savory biscuits Energy bars
& sweet pies goods cereals products ingredients
biscuits)
Tokyo 261.8 220.3 82.1 75.9 20.5 18.5 16.5 14.3 13.4 10.3 6.3
Osaka 122.4 103.4 38.1 35.4 9.7 8.6 7.7 6.6 6.2 4.8 2.9
Nagoya 46.6 39.3 14.6 13.5 3.7 3.3 2.9 2.5 2.4 1.8 1.1
Fukuoka 18.8 15.9 5.9 5.4 1.5 1.3 1.2 1.0 1.0 0.7 0.5
Sapporo 15.7 13.3 4.8 4.5 1.3 1.1 1.0 0.8 0.8 0.6 0.4
Sendai 11.4 9.6 3.5 3.3 0.9 0.8 0.7 0.6 0.6 0.4 0.3
Hiroshima 10.1 8.5 3.1 2.9 0.8 0.7 0.6 0.5 0.5 0.4 0.2
Naha 8.6 7.2 2.7 2.5 0.7 0.6 0.5 0.5 0.4 0.3 0.2
Kitakyushu 8.0 6.8 2.5 2.3 0.6 0.6 0.5 0.4 0.4 0.3 0.2
Niigata 7.2 6.1 2.2 2.1 0.6 0.5 0.4 0.4 0.4 0.3 0.2

36
 Part 3: City Deep Dive

Top 10 cities’ contribution to volume growth

Amongst the top 10 cities, Tokyo is forecast to contribute the most toward the volume growth of the Japanese bakery & cereals during
2018–2023
The overall Japanese bakery & cereals sector recorded a volume sales of 2,489.9 million kg in 2018 and is expected to reach 2,627.4 million kg by 2023, growing at a CAGR of 1.1%, during 2018–
2023. The top 10 cities in the market are projected to contribute 82.7 million kg towards volume growth, with Tokyo being the largest contributor at 43.1 million kg. Following Tokyo, other major
cities such as Osaka and Nagoya are expected to contribute 19.6 million kg and 7.6 million kg, respectively, over the same period.

Volume growth analysis of top 10 cities (Million Kg), 2018–2023

37
Part 3: Country Deep Dive

Bakeries and Cereals Sector in Japan – key trends

Consumers in Japan are looking for novel flavors in the bakery & cereals sector

Trend Description Recent product launch aligned to the trend

Nestlé KitKat branded Chocolate Wafer has recently been introduced

Japanese consumers have high focus on the bakery and cereal products they
Sensory fusion

in a Yuzu Sake variety that is an uncommon flavor in chocolate

consume on account of luxurious lifestyle in the country which is spurred by high wafers. The brand utilizes a powdered liquor based on the sake-rich
disposable income in the country. Therefore, the consumers tend to seek additional liqueur and is said to offer a combination of sweet and sour taste.
sensory appeal along with regular product consumption experience. According to The addition of sake to this new release demonstrates how brands
GlobalData 2018 Q3 survey, 63% of consumers in Japan consider the uniqueness of are looking to distinguish their products in terms of flavor and stand
food products as the influential factor in determining their food choices1. out from other products that offer fruit flavors.

The consumers in Japan are adventurous in nature and look for products that offer Morinaga & Co., Ltd. has launched its Amazake Cake under the
experiential

novel experience which is leading to increased preference of bakery and cereal Morinaga banner which capitalizes on shoppers looking to try new
Novel &

products that are new and innovative. This is substantiated by the GlobalData 2018 and interesting flavors as amazake is usually liquid in form (a sweet
Q3 survey, where 42% of respondents in Japan find trying new experiences as most traditional Japanese low-alcohol beverage made from fermented
exciting2. Therefore, the companies are launching innovative bakery and cereal rice). Presented as a count of six within a paperboard box containing
products that could appeal to the shoppers who look for novel experiences in the wrapped cakes.
food products.

Meiji Holdings Co., Ltd. has launched a Cheese Biscuit under the Meiji
Product specificity

Due to growing awareness, consumers in Japan are giving high amount of attention Tanpack banner that contains high level of milk protein and dietary
to the ingredients used in food products. This is substantiated by the GlobalData fiber. These biscuits are tagged as high protein and dietary fiber. The
2019 Q3 survey where 68% of consumers gave medium to very high amount of brand says that the new launch is formulated with "Gouda cheese
attention on the ingredients associated with the bakery and cereal products, they from Tokachi, Hokkaido," and it also explains that "milk protein that
consume3. Thus, companies are launching bakery and cereal products with focus on contains essential amino acids to keep your body in a good balance.“
ingredients to cater consumers with specific needs and demands. This could attract health-conscious consumers in Japan who want to
enjoy biscuits but at the same time care about the ingredients.

[1] [2]GlobalData Consumer survey, Q3 2018 – Japan; [3] GlobalData Consumer survey, Q3 2019 – Japan 38
Australia
Part 3: Country Deep Dive

Overview of Australian bakery & cereals sector

Bread Rolls was the leading category in Australia with 31.5% value share in 2019
Market size and growth Category share
Bread & Rolls
The bakery and cereal sector in Australia accounted for 5.5%
2014 3.4%
share in the Asia-Pacific in 2019 3.4% Cookies (Sweet Biscuits)
US$8,303.8 m The bakery & cereals sector in Japan accounted for US$7,546.9 3.5%
Breakfast Cereals
million in 2019 and estimated to reach US$8,384.9 million by 4.7%
2024 with a CAGR of 2.1%. Flexible packaging was the key pack 31.5% Morning Goods
5.6%
material with a share of 84.9%. Hypermarkets & supermarkets
2019 Cakes, Pastries & Sweet Pies
led the distribution of bakery & cereals in Australia with a share 5.9%
US$7,546.9 m of 56.9% in 2019. The three companies that led the market in 2019 Savory Biscuits
Australia include Campbells Soup Company, Goodman Fielder,
7.7% Baking Mixes
and Associated British Foods Plc with a combined share of 27.9%.
The high disposable income in Australia is expected to boost the 7.7% Cereal Bars
2024 demand for bakery & cereals during the forecast period. 14.2%
US$8,384.9 m 12.4% Baking Ingredients
CAGR (2014-19) CAGR (2019-24)
Dough Products
-1.9% 2.1%
Energy Bars

Leading companies, 2019 Key pack material Key distribution channel

Flexible Packaging Hypermarkets &

84.9% share Supermarkets
Campbells Soup
Company
Goodman Fielder
Associated British
Foods Plc
(in pack units), 2019 56.9% value share, 2019
9.9% share
10.9% share 7.2% share

40
Part 3: Country Deep Dive

Demographic analysis* – Australia

Older consumers account for the leading share in bakery & cereals products consumption in Australia
Gender Age Group
Consumption by gender Consumption by age group

Male Kids & Babies Early Young Older Young Pre-Mid-Lifers Mid-Lifers Older
48.6% Adults Adults Consumers
51.4% Female 0–15 16–24 25–34 35–44 45–54 55+

22.8% 11.2% 13.1% 11.6% 13.9% 27.4%

Education Urbanization
Consumption by education Consumption by degree of urbanization
4.5%
12.6% Pre-Primary

Primary 19.1%
33.8%
Lower Secondary Urban
23.0%
Upper Secondary Rural
4.5%
Post Secondary- Non Tertiary
21.6% 80.9%
Tertiary

*Analysis is based on 2018 consumer data 41

 Part 3: City Deep Dive

Market size analysis of top eight cities

The top eight cities in the Australian bakery & cereals sector accounted for 64.7% of the overall volume sales in 2018
The top eight cities in the Australian bakery & cereals sector accounted for 64.7% of overall volume sales in 2018, up from 63.5% in 2013. Sydney emerged as the largest bakery & cereals market in
Australia, accounting for 19.9% volume share and 219.5 million kg in 2018, followed by Melbourne and Brisbane with 205.3 million kg (18.6%) and 104.3 million kg (9.5%), respectively, in the same
year. The bakery & cereals market in Darwin recorded the fastest growth with a CAGR of 3.6%, during 2013–2018 while Hobart recorded the slowest growth at a CAGR of 2.3%, during the same
period.

Volume growth analysis of top eight cities (Million Kg), 2013–2018

Volume CAGR (2013–2018) 3.0% 3.4% 3.2% 3.5% 2.4% 3.2% 2.3% 3.6%

Share of Nominal GDP (USD),

20.1% 16.6% 8.7% 10.7% 4.3% 2.1% 0.7% 0.8%
2018

Share of Population, 2018 20.0% 18.7% 9.4% 8.1% 5.3% 1.7% 0.9% 0.6%

42
 Part 3: City Deep Dive

Market size analysis of top eight cities by category

Bread & rolls was the leading category across the top eight cities in the country
Bread & rolls was the leading category in volume terms across the top eight cities in the Australian bakery & cereals sector in 2018. Sydney recorded the highest consumption of bread & rolls,
accounting for 85.3 million kg in 2018, followed by Melbourne and Brisbane, which accounted for 79.7 million kg and 40.5 million kg, respectively, in the same year. Breakfast cereals is the second
largest category by consumption across the leading cities in Australia. Sydney and Melbourne witnessed the highest consumption of breakfast cereals with volume sales of 23.5 million kg and 22.
million kg, respectively, in 2018.

Volume analysis of top eight cities by category (Million Kg), 2018

Breakfast Cookies (sweet Cakes, pastries Dough Baking

Category Bread & rolls Baking mixes Morning goods Savory biscuits Cereal bars Energy bars
cereals biscuits) & sweet pies products ingredients
Sydney 85.3 23.5 22.5 20.6 18.9 16.6 14.1 8.1 4.4 4.1 1.5
Melbourne 79.7 22.0 21.1 19.2 17.7 15.5 13.1 7.5 4.1 3.8 1.4
Brisbane 40.5 11.2 10.7 9.8 9.0 7.9 6.7 3.8 2.1 1.9 0.7
Perth 34.8 9.6 9.2 8.4 7.7 6.8 5.7 3.3 1.8 1.7 0.6
Adelaide 22.9 6.3 5.9 5.5 5.0 4.4 3.7 2.2 1.2 1.1 0.4
Canberra 7.0 1.9 1.9 1.7 1.6 1.4 1.2 0.7 0.4 0.3 0.1
Hobart 3.9 1.1 1.0 0.9 0.9 0.8 0.6 0.4 0.2 0.2 0.1
Darwin 2.4 0.7 0.7 0.6 0.5 0.5 0.4 0.2 0.1 0.1 0.04

43
Part 3: City Deep Dive

Top eight cities’ contribution to volume growth

Amongst the top eight cities, Sydney is forecast to contribute the most toward the volume growth of the Australian bakery & cereals
during 2018–2023
The overall Australian bakery & cereals sector recorded a volume sales of 1,100.7 million kg in 2018 and is expected to reach million kg by 2023, growing at a CAGR of 2.1%, during 2018–2023. The
top eight cities in the market are projected to contribute 78.8 million kg towards volume growth, with Sydney being the largest contributor at 24.5 million kg. Following Sydney, other major cities
such as Melbourne and Brisbane are expected to contribute 23 million kg and 11.4 million kg, respectively, over the same period.

Volume growth analysis of top eight cities (Million Kg), 2018–2023

44
Part 3: Country Deep Dive

Bakeries and Cereals Sector in Australia – key trends

Novel & experiential launches drove the growth in bakery & cereals sector in Australia
Trend Description Recent product launch aligned to the trend

Smith's Snackfood Company Pty Ltd has recently released a

The consumers in Australia are adventurous in nature hence they tend to experiment with Doritos branded Crackers in a Nacho Cheese variant that is said
Experiential

bakery and cereal products they consume. According to GlobalData 2018 Q4 survey, 62% of to feature an unusual flavor combination of nachos and
Novel &

consumers in Australia agreed that the choice of products/services is influenced by how cheese. This new release is claimed to provide "corn chip
enjoyable or unique the product/service is1. Therefore, companies are launching bakery and flavors on a cracker, delivering the same bold flavor with added
cereal products with cross category innovation that caters the need of novel & experiential crunch. It is likely to resonate with experimental and curios
consumers. consumers in Australia who tend to seek distinct flavors to
create new consumption memories.

An Uncle Tobys Super Blends branded Oats has been introduced

The high level of awareness among the Australian consumers regarding the health benefits in a Turmeric & Coconut variant that highlights to feature
Wellbeing

associated with the food products they consume is leading to increased preference of bakery prebiotic fiber in its formulation. According to the brand, this
and cereal products which are good for health. As per GlobalData 2019 Q3 survey, 21% of launch contains prebiotics that are suggested to nourish the
consumers are very concerned and 39% are concerned about their digestive health2. good bacteria and support digestive health. This new cereal is
Therefore, the companies are launching products that offer health benefits to the consumers. likely to create a health halo and may interest those concerned
about gut health.

Source Holdings Pty Ltd has recently started the distribution of a

With growing awareness consumers are giving high amount of attention to ingredients used
Moderation &

Bells & Whistles branded Cake Slices in Nut Truffle, Berry &
Avoidance

in food products and trying to limit the intake of dairy-based bakery and cereal products. Cashew, and Ginger & Apricot variants that are said to be
According to GlobalData Q3 2019 survey, 37% respondents find dairy free food and drinks vegan-friendly. This new release is claimed to be free from milk
product as somewhat/very appealing3. Therefore, the companies are launching products that and dairy. This product could resonate with consumers who
are vegan and lead to moderation and avoidance of dairy-based products. avoid or consume dairy in moderation; therefore seek vegan-
friendly cake slices to enjoy delicacy guilt-free.

[1] GlobalData Consumer survey, Q4 2018 – Australia; [2] [3] GlobalData Consumer survey, Q3 2019 – Australia 45
China
 Part 3: Country Deep Dive

Overview of Chinese bakery & cereals sector

China accounted for 49.6% value share of Asia-Pacific bakery & cereals sector in 2019
Market size and growth Category share
2.8% 0.2% 0.02%
0.01% Cakes, Pastries & Sweet Pies
China is likely to witness a CAGR of 5.4% in the Asia-Pacific 3.3%
2014 bakery & cereals market during 2019-24 2.6% Cookies (Sweet Biscuits)
US$5,175.0 m The bakery & cereals sector in China accounted for US$68,579.8
3.6% Bread & Rolls
million in 2019 and estimated to reach US$89,248.9 million by
2024 with a CAGR of 5.4%. Among the high potential countries, 7.2% Savory Biscuits
the contribution of China in the market growth is forecast to be
2019 the highest. Cakes, pastries & sweet pies was the largest Breakfast Cereals
7.4%
US$68,579.8 m category among all categories with a value share of 64.2% in 2019 Morning Goods
2019. The high population of China is likely to provide a huge
thrust to bakery and cereal products during the forecast period. 8.7% Baking Mixes
64.2%
With 57.5% share, flexible packaging was the leading pack
Dough Products
2024 material in China.
US$89,248.9 m Baking Ingredients
CAGR (2014-19) CAGR (2019-24)
Energy Bars
6.0% 5.4%
Cereal Bars

Leading companies, 2019 Key pack material Key distribution channel

Flexible Packaging Food & drinks

57.5% share specialists
Mondelez
International, Inc
Orion Confectionery
Co, Ltd.
Nestlé SA (in pack units), 2019 51.3% value share, 2019
1.0% share
2.3% share 1.6% share

47
(1) GlobalData Macroeconomic Indicators
Part 3: Country Deep Dive

Demographic analysis* – China

Younger consumers accounted for higher share in the consumption of bakery & cereal sector in China

Gender Age Group

Consumption by gender Consumption by age group

42.3%
Male
57.7%
Female Kids & Babies Early Young Older Young Pre-Mid-Lifers Mid-Lifers Older Consumers
Adults Adults

0–15 16–24 25–34 35–44 45–54 55+

22.9% 13.2% 18.3% 17.6% 13.0% 15.0%

Education Urbanization
Consumption by education
Consumption by degree of urbanization
3.7% 3.4%
Pre-Primary

10.0% Primary
2.0% Urban
10.5% Lower Secondary

60.6% Upper Secondary Rural

11.8%
Post Secondary- Non Tertiary
98.0%
Tertiary

*Analysis is based on 2018 consumer data 48

 Part 3: City Deep Dive

Market size analysis of top ten cities

The top 10 cities in the Chinese bakery & cereals sector accounted for 11.9% of the overall volume sales in 2018

The top 10 cities in the Chinese bakery & cereals sector accounted for 11.9% of overall volume sales in 2018, up from 11.6% in 2013. Chongqing emerged as the largest bakery & cereals market in
China, accounting for 2.2% volume share and 233.3 million kg in 2018, followed by Shanghai and Beijing with 193.1 million kg (1.8%) and 175.7 million kg (1.6%), respectively, in the same year. The
bakery & cereals market in Beijing recorded the fastest growth with a CAGR of 7.3%, during 2013–2018 while Guangzhou recorded the slowest growth at a CAGR of 5.3%, during the same period.

Volume CAGR (2013–2018) 5.9% 6.3% 7.3% 7.2% 5.3% 5.3% 5.6% 7.0% 5.9% 5.4%

Share of Nominal GDP (USD),

2.4% 3.6% 3.3% 2.1% 1.7% 2.6% 0.4% 2.8% 0.6% 0.5%
2018

Share of Population, 2018 2.2% 1.7% 1.6% 1.1% 1.2% 1.1% 0.8% 1.0% 0.8% 0.8%

49
 Part 3: City Deep Dive

Market size analysis of top ten cities by category

Cakes, pastries & sweet pies is the leading category across the top 10 cities in the country

Cakes, pastries & sweet pies was the leading category in volume terms across the top 10 cities in the Chinese bakery & cereals sector in 2018. Chongqing recorded the highest consumption of
cakes, pastries & sweet pies, accounting for 153.4 million kg in 2018, followed by Shanghai and Beijing, which accounted for 126.9 million kg and 115.5 million kg, respectively, in the same year.
Bread & rolls is the second largest category by consumption across the leading cities in China. Chongqing and Shanghai witnessed the highest consumption of bread & rolls with volume sales of
26.2 million kg and 22 million kg, respectively, in 2018.

Volume analysis of top 10 cities by category (Million Kg), 2018

Cookies
Cakes, pastries Dough Breakfast Morning Baking
Category Bread & rolls (sweet Savory biscuits Baking mixes Energy bars Cereal bars
& sweet pies products cereals goods ingredients
biscuits)
Chongqing 153.4 26.2 17.7 14.1 9.6 4.5 4.5 3.0 0.4 0.01 0.01
Shanghai 126.9 22.0 14.6 11.5 7.8 3.7 3.7 2.5 0.3 0.01 0.004
Beijing 115.5 19.7 13.3 10.6 7.3 3.4 3.4 2.3 0.3 0.01 0.004
Tianjin 79.8 13.8 9.2 7.3 4.9 2.3 2.3 1.6 0.2 0.01 0.003
Chengdu 71.9 12.5 8.3 6.5 4.4 2.1 2.1 1.4 0.2 0.01 0.002
Guangzhou 64.6 11.2 7.4 5.9 4.0 1.9 1.9 1.3 0.2 0.01 0.002
Baoding 58.6 10.2 6.7 5.3 3.6 1.7 1.7 1.2 0.1 0.01 0.002
Shenzhen 57.7 10.0 6.6 5.2 3.6 1.7 1.7 1.1 0.1 0.01 0.002
Shijiazhuang 54.5 9.4 6.3 5.0 3.4 1.6 1.6 1.1 0.1 0.005 0.002
Linyi 51.3 8.9 5.9 4.7 3.2 1.5 1.5 1.0 0.1 0.005 0.002

50
 Part 3: City Deep Dive

Market size analysis of top ten cities

Amongst the top 10 cities, Chongqing is forecast to contribute the most toward the volume growth of the Chinese bakery & cereals during
2018–2023
The overall Chinese bakery & cereals sector recorded a volume sales of 10,707.1 million kg in 2018 and is expected to reach 13,487.3 million kg by 2023, growing at a CAGR of 4.7%, during 2018–
2023. The top 10 cities in the market are projected to contribute 336.6 million kg towards volume growth, with Chongqing being the largest contributor at 61.4 million kg. Following Chongqing,
other major cities such as Shanghai and Beijing are expected to contribute 50.2 million kg and 46.1 million kg, respectively, over the same period.

Volume growth analysis of top 10 cities (Million Kg), 2018–2023

51
Part 3: Country Deep Dive

Bakeries and Cereals Sector in China – key trends

Convenience associated with majority of bakery & cereals offerings led the Chinese market
Trend Description Recent product launch aligned to the trend

China is undergoing rapid urbanization with the percentage of people living in urban areas
Out-of-home

increasing from 49.2% in 2010 to 60.3% in 20191. As these urban consumers spend most of Three Squirrels Co., Ltd recently launched a Three Squirrels
their time out-of-home, either traveling or at work places, they seek food products that are branded “pocket-sized" bread featuring a yoghurt-like filling in
convenient to carry with them. Hence, manufacturers of bakery & cereal products are the center. The product is positioned to be consumed on-the-go
launching products in resealable or individually wrapped packs for the convenience of busy while out of home.
consumers.

Jieyang Gangrong Foods Development Co., Ltd. has launched a

Experimentation

Zhengdangao (Steam Cake) under the Kong Weng banner that

Consumers in China are highly inclined towards ingredients associated with the bakery and
brings the fruit flavor of blueberry and combines it with steam
cereal products that provide more varied and complex flavors as well as textures. This is
cake for an uncommon flavor experience. The brand says this
substantiated by GlobalData 2018 Q4 survey, 67% percentage of respondents said that the
new launch is made with Northeast wheat flour, New Zealand
feature “how enjoyable or unique the product/service is” has greatest influence on their
milk powder, and farmhouse eggs, furthermore, it comes with
choice of the same2. Therefore, the companies are offering such bakery and cereal products
blueberry filling. In China, Steamed bun or steam cake normally
that resonates with experimentation trend.
comes with custard or red bean filling

Chinese consumers seek bakery and cereal products that are good for health. As Tianjin Leshang Food Co., Ltd has recently launched a Pin Le
conventional sugar is considered to make adverse effect on human health, consumers look Wei Jinshunxiang branded Shaqima in a Heitang Yanmai
Wellbeing

to avoid the same. This is substantiated by the GlobalData 2019 Q3 survey, where 39% and (Brown Sugar Oats) variety that is a healthier variation of the
33% of consumers find food products which are sugar free somewhat and very appealing, traditional sugared batter-based pastry. Adding black sugar
respectively3. Therefore, the companies are launching bakery and cereal products that instead of regular syrup and bringing oats into the ingredients
include black sugar instead of regular sugar syrup. may bring a healthier twist to this commonly enjoyed snack.

[1][GlobalData Macroeconomic Indicator; [2] GlobalData Consumer survey, Q4 2018 – China; [3] GlobalData Consumer survey, Q3 2019 – China 52
Singapore
Part 3: Country Deep Dive

Overview of Singaporean bakery & cereals sector

Breads & Rolls category in Singapore led the market with 39% share in 2019
Market size and growth Category share
1.1% 0.2%
2.4% Bread & Rolls
The bakery & cereals market in Singapore is forecast to grow at
2014 a CAGR of 2.6% during 2019-2024 3.1% Cookies (Sweet Biscuits)
US$588.4 m In 2019, the bakery & cereals sector in Singapore accounted for
5.3% Cakes, Pastries & Sweet Pies
US$727.9 million and is estimated to reach US$827.9 million by
2024 with a CAGR of 2.6%. Breads & Rolls was the largest 6.0% Savory Biscuits
category with a value share of 39% in 2019. With 55% share, 39.0%
2019 hypermarkets & supermarkets was the leading distribution 6.9% Breakfast Cereals

US$727.9 m channel in Singapore in 2019. Flexible packaging led the market 2019 Energy Bars
with 83.7% share among the various pack material used. The 8.6%
three leading companies in the market include QAF Limited, Auric Baking Ingredients
Pacific Group Limited, and Khong Guan Biscuit Factory (S) Pte Ltd
Dough Products
2024 with a collective share of 27% in 2019. 9.2%
US$827.9 m 18.3% Morning Goods
CAGR (2014-19) CAGR (2019-24)
Baking Mixes
4.3% 2.6%
Cereal Bars

Leading companies, 2019 Key pack material Key distribution channel

Flexible Packaging Hypermarkets &

83.7% share supermarkets
QAF Limited
Auric Pacific Group
Limited
Khong Guan Biscuit
Factory (S) Pte Ltd
(in pack units), 2019 55.0% value share, 2019
14.7% share
8.2% share 4.1% share

[1]
54
GlobalData Macroeconomic Indicators
Part 3: Country Deep Dive

Demographic analysis* – Singapore

Consumers with tertiary education account for the leading share in the consumption of bakery & cereal in Singapore
Gender Age Group
Consumption by gender Consumption by age group

46.6%
Male
Kids & Babies Early Young Older Young Pre-Mid-Lifers Mid-Lifers Older Consumers
53.4% Female Adults Adults

0–15 16–24 25–34 35–44 45–54 55+

17.2% 17.2% 21.5% 19.7% 10.9% 13.5%

Education Urbanization
Consumption by education Consumption by degree of urbanization
Pre-Primary

13.6% Primary
10.1% Lower Secondary
42.1% 0.0%
Urban
Upper Secondary
12.0%
Rural
Post Secondary- Non Tertiary
7.9% 14.3%
Tertiary 100.0%

*Analysis is based on 2018 consumer data 55

Part 3: Country Deep Dive

Bakeries and Cereals Sector in Singapore – key trends

The inclination towards healthy bakery and cereal products is fostering the market growth in Singapore
Trend Description Recent product launch aligned to the trend

A Peppa Pig branded Milk Cookies was recently introduced in

Personalization

Consumers in Singapore are highly concerned about their children’s health and seek food Singapore. The licensed product is suggested as suitable for
products that are made specifically for them. They seemed to buy food and drinks specifically children above the age of 18 months and is available in cartoon
targeted at children, and comes in innovative packaging. Catering to this market trend, shaped characters. Peppa Pig is a British preschool animated
manufacturers are launching bakery & cereals products for children with appealing packaging. television series that revolves around Peppa (an animated pig) and
her friends (each different animal species).

Nestlé Singapore (Pte) Ltd. has recently started the distribution of

Consumers in Singapore are highly concerned about the ingredients associated with the bakery a Nestlé Kokokrunch Maxx branded Breakfast Cereal that is said
Wellbeing

and cereal products they consume. The products that have healthy ingredients such as to be fortified with vitamins (B2, B3, B6, and B9) along with iron,
vitamins, fiber, iron, etc. along with tasty flavors are widely preferred in Singapore. Therefore, calcium, and fiber. This new breakfast cereals are described as
companies are launching of such products which are composed of specific ingredients that chocolate-filled wheat pillows that mentioned to be formulated
foster better health. using whole grains.

Mondelez Asia Pacific Pte Ltd has recently started the

distribution of an Oreo branded Cream Filled Mini Cookies in a
Customization

Singaporean consumers have shown inclination towards food and drinks offerings which are
Chocolate variant that is said to be mini in size to offer portion-
available in customizable option such as, small sized packaging. As these portion controlled
controlled option of cookies. This new release is described as
offerings can help in controlling calorie due to smaller size. Therefore, the bakery and cereal
mini Oreo chocolate sandwich cookies with chocolate layered
companies are launching customized products depending on their need.
cream. This launch could resonate with those Singaporeans who
tend to be calorie-conscious and likely to control the portion.

56
Part 4: Success Stories
Part 4: Success Stories

About case studies

Focusing on high-impact innovation and marketing… …with an emphasis on consumer trends

• The following section on case studies features some of the most compelling • Each Success case study is supported by tangible evidence of performance, and
bakery & cereals manufacturers, brands, products, and marketing campaigns in then contextualized by GlobalData's proprietary research and analysis. This
Asia-Pacific region. Each case explores the key factors that contributed to the includes references to multiple waves of large-scale consumer surveys
success of the product conducted across 40 countries

• It also provides a better understanding of how a certain manufacturer achieved • Cases link back to consumer needs, as it is the consumers' propensity to buy
success in the sector, and provides insights into the efforts undertaken to that ultimately determines success. The themes covered in each case study
differentiate and gain an edge in the highly competitive bakery & cereals sector align with GlobalData’s consumer trends framework, Trend Sights

58
Part 4: Success Stories

Case Study: Oat Bran by Quaker

An easy to prepare breakfast option which is also healthy for the heart
Company Overview Business Strategy
Company Quaker (Subsidiary of PepsiCo, Inc.) • According to a GlobalData survey, 39% of the respondents in China said that they consider easy to
prepare food/drinks as a convenient food option1. Busier lifestyle contributed by a rapidly rising
Revenue US$64,661 million (2018)*
middle class population has garnered the need for quick to prepare food options in China. Moreover,
No. of employees ≈ 267,000 (2018)* the unemployment rate in China has declined from 4.2% in 2013 to 3.8% in 20182. With an
increasing workforce, the demand for quick to prepare breakfast options is bound to rise in the
Brand Oat Bran country
Country of Launch China • Quaker targets consumers in China, who want easy to prepare breakfast options. With Oat Bran
catering to this need, consumers are likely to be interested in the product. Moreover, the product is
Category Breakfast Cereals
tagged as heart healthy diet option and the soluble fiber in it helps to reduce cholesterol. It is also
claimed to have low saturated fat, which appeals health conscious Chinese millennials
Product Description
The Oat Bran from Quaker is hot breakfast cereal with 100% whole grain. Quaker • According to another GlobalData survey, 72% of the respondents in China said that they proactively
oats are claimed to be good source of fiber that supports healthy digestive system. It seek products which improve their health3. This high share of health conscious consumers would
is advised to topped with fruit, nuts or honey for better consumer experience. further help the product to penetrate in the Chinese market.

Success Measure

• Oat Bran was elected as ‘Product of the Year 2019’ in China. The award is organized by
’Voted Product of the Year’ every year in recognition to quality and innovation.

The campaign is aligned with the ‘Health &

Wellness’ and ‘Easy & Affordable’ trends in
GlobalData’s TrendSights Framework

[1] GlobalData Consumer Survey Global, Q3 – 2018 *Figures from PepsiCo, Inc.
[2] GlobalData Macroeconomic Data 59
[3] GlobalData Consumer Survey Global, Q3 – 2019
Part 4: Success Stories

Case study: FITTIFY Gourmet Superfood Upma/Poha (Quinoa & Millet) by Saffola
A healthy food option for the Indian consumers which is also easy to prepare
Company Overview Business Strategy
Company Saffola (Subsidiary of Marico Limited) • Consumers across the world and also in India are increasingly becoming conscious about their
health. There has been ongoing trend in the country wherein a rising number of consumers are
Revenue US$1.05 Billion (2019)*
preferring healthy food options. These consumers are also curious about the ingredients in the
No. of employees 1,683 (2019)* food products they buy.
FITTIFY Gourmet Superfood
Brand • With a focus to capitalize on this trend, Saffola has introduced the FITTIFY Gourmet Superfood
Upma/Poha (Quinoa & Millet)
Country of Launch India Upma/Poha (Quinoa & Millet) range. The range is free from preservatives, artificial flavor,
artificial color, transfat and cholesterol, a factor which would help it to appeal to the rising
Category Breakfast Cereals number of health-conscious consumers in India. According to a GlobalData survey, 76% of the
respondents in India said that they proactively seek products which improve their health. The
Product Description presence of such a high share of consumers seeking health food options, would further help in
the penetration of the product in the country1.
As per the Saffola’s claims, the FITTIFY Gourmet Superfood Upma/Poha (Quinoa &
Millet) range is free from preservatives, artificial flavour, artificial colour, transfat and
• Moreover, as the company claims that the breakfast range can be prepared in 4 minutes, this
cholesterol. The company also claims that this breakfast option can be prepared in 4
would also entice consumers with a busy life style and those who seek easy to prepare food
minutes.
options.
Success Measure

• FITTIFY Gourmet Superfood Upma/Poha (Quinoa & Millet) was voted as ‘Product of the Year
2019’ in India in the breakfast range category. The award is organized by ’Voted Product of
the Year’ every year in recognition to quality and innovation.

The product is aligned with the ‘Health &

Wellness’ trend in GlobalData’s TrendSights
Framework

[1] GlobalData 2019 Q3 Consumer Survey – India 60

 Part 4: Success Stories

Case study: Barley+ By Freedom Foods

A muesli bar with high fiber content and supporting the gut health
Company Overview Business Strategy
Company Freedom Foods • According to a GlobalData survey, 48% of the respondents in Australia said that they proactively
seek products which improve their health1. Going by this trend, the Barley+ muesli bars would
Revenue US$476.2 Million (2018)*
appeal to those consumers in Australia who are very particular about the health benefits
No. of employees 739 (2018)* associated with their food products.
Brand Barley+
• The product contains double the amount of fiber than regular barley, oats, wheat and rye whole
Country of Launch Australia grains and would go well with consumers in Australia looking for maintaining bowel health and
lowering cholesterol level.
Category Cereal Bars

Product Description • The Barley+ muesli bars contains high levels of dietary fibers which help in maintaining digestive
health by ensuring regularity, bulking and consistency of bowel movements. The health benefits
The Barley+ muesli bars from Freedom Foods contains the offered the Barley+ muesli bars would help in demand generation for the product in Australia.
non-GMO barley grain, developed by Australia’s leading
scientific research organisation, the CSIRO. It is said to have
double the amount of fibre as regular barley, oats, wheat
and rye whole grains. The bar also contains high levels of Success Measure
fermentable fibre, a fibre which feeds the gut bacteria.
• Freedom Foods’ product Barley+Seven Seeds Bars and Messy Monkeys Whole Grain
Bites, was recognized for its innovation and announced as finalists at World Innovation
Awards in 2018.

The product is aligned with the ‘Health &

Wellness’ trend in GlobalData’s TrendSights
Framework

[1] GlobalData Consumer Survey Global, Q3 – 2019

*Figures are for Freedom Foods 61
Part 5: Competitive Environment
Part 5: Competitive Environment

Leading companies’ share in the Asia-Pacific bakery & cereals sector

Asia-Pacific bakery & cereals sector was highly fragmented with top five companies accounting for 8.5% value share in 2019
Leading companies in Asia-Pacific bakery & cereals sector by value sales (% share), 2019

Mondelez International, Inc Yamazaki Baking Co., Ltd.

Yamazaki Baking Co., Ltd. held a value share of 2.3% in
Mondelez International, Inc held a value share of 2.5% 2019. The company offers products in bread & rolls,
in 2019. The company offers products in baking 2.3% cakes, pastries & sweet pies, and morning goods
ingredients, baking mixes, bread & rolls, cakes, pastries categories.
& sweet pies, cereal bars, cookies (sweet biscuits), 2.5%
morning goods, and savory biscuits categories. Britannia
1.4% Britannia held a value share of 1.4% in 2019. The
company offers products in bread & rolls, breakfast
cereals, Cakes, Pastries & Sweet Pies, cookies (sweet
biscuits), and savory biscuits categories.

Leading Parle Products Pvt Ltd

1.2%
Parle Products Pvt Ltd. held a value share of 1.2% in
companies 2019. The company offers products in cookies (sweet
by biscuits), and savory biscuits categories.
value 1.1%
in 2019 Orion Confectionery Co, Ltd.
Orion Confectionery Co, Ltd. a value share of 1.1% in
2019. The company offers products in cakes, pastries
& sweet pies, cookies (sweet biscuits), energy bars,
and savory biscuits categories.

63
 Part 5: Competitive Environment

Brand share analysis of top 5 companies

Yamazaki, owned by Yamazaki Baking Co., Ltd., held a value share of 2.07% in 2019
Top 5 companies share by brand (in value terms) in the bakery & cereals sector, 2019
Company Brand Value share, 2019
Oreo 1.1%
Tuc 0.2%
Ritz 0.2%
Mondelez International, Inc
Kinh Do 0.1%
Lu 0.1%
Others 0.8%
Yamazaki 2.07%
Mini Pan 0.09%
Lunch Pack 0.06%
Yamazaki Baking Co., Ltd.
Chou Houjun 0.04%
Dr You 0.02%
Others 0.02%
Good Day 0.3%
Britannia 0.2%
Nutri Choice 0.2%
Britannia
Marie Gold 0.2%
Tiger 0.2%
Others 0.3%
Parle G 0.56%
Parle 0 Others 0.29%
Hide & Seek 0.11%
Parle Products Pvt Ltd.
Krackjack 0.07%
Monaco 0.07%
Others 0.10%
Orion 0.9%
Market O 0.1%
Diget 0.03%
Orion Confectionery Co, Ltd.
Gosomi 0.03%
Dr You 0.02%
Others 0.02% 64
 Part 5: Competitive Environment

Leading companies in the Asia-Pacific bakery & cereals sector

With the presence of nine leading companies, cookies (sweet biscuits) remained the most competitive category in the Asia-Pacific in 2019
Leading companies in Asia-Pacific bakery & cereals sector by value sales (US$ Million), 2019
Highlights

▪ In 2019, Mondelez International, Inc was

Mondelez International, Inc the leading company in bakery & cereals
sector with presence across eight of the
Yamazaki Baking Co., Ltd. eleven categories. The company had the
highest value share in the cookies (sweet
Britannia
biscuits) category
Parle Products Pvt Ltd
▪ Cookies (sweet biscuits) was the most
Orion Confectionery Co, Ltd. competitive category with the presence of
nine of the ten leading firms in the market
Campbells Soup Company
▪ Britannia displayed high five-year CAGR
The Kellogg Company between 2014 and 2019 across all
Ezaki Gl9ico co., Ltd categories of its presence, i.e. bread & rolls,
breakfast cereals, cakes, pastries & sweet
Goodman Fielder pies, cookies (sweet biscuits), and savory
biscuits
Nestlé SA
▪ None of the leading companies were
present in the dough products category.
Baking Baking Bread & Breakfast Cakes, Cookies Dough Morning Savory Apart from that the baking ingredients,
Cereal Energy
Ingredients Mixes Rolls Cereals Pastries & (Sweet Products Goods Biscuits
Bars Bars baking mixes and the energy bars
Sweet Pies Biscuits)
categories witnessed the presence of only
Size of Circle represents sales in 2019 Low five-year CAGR, High five-year CAGR, two leading firms. These categories present
in US$ million 2014–2019 (US$) <0% 0–5% >5% 2014–2019 (US$) opportunity for new entrants.

65
Part 5: Competitive Environment

Leading brands in the Asia-Pacific bakery & cereals sector

Private label had a strong presence across all categories in the Asia-Pacific bakery & cereals sector
Leading Brands (including Private label) in Asia-Pacific bakery & cereals sector by value sales (US$ Million), 2019
Highlights

Private Label ▪ Private labels had presence all categories

in the Asia-Pacific bakery & cereals sector,
in 2019. None of the leading brands and
Yamazaki
private label displayed negative CAGR
Oreo during 2014-2019.

Orion ▪ As cakes, pastries & sweet pies was the

largest category, and seven of the top nine
Parle G brands were present in the same with
private label penetration being highest.
Garden
▪ Four out of seven brands displayed very
Pasco
high CAGR in the cakes, pastries & sweet
Pocky pies category

Cola Cao ▪ In 2019, no leading brands were present

across six categories, i.e. baking
Lotte ingredients, baking mixes, breakfast
cereals, cereal bars, dough products,
energy bars, and savory biscuits categories.
Baking Baking Bread & Breakfast Cakes, Cereal
Cookies Dough Energy Morning Savory The leading brands can foray into these
Ingredients Mixes Rolls Pastries & (Sweet
Cereals Bars Products Bars Goods Biscuits categories and expand their business
Sweet Pies Biscuits)

Size of Circle represents sales in 2019 Low five-year CAGR, High five-year CAGR,
in US$ million 2014–2019 (US$) <0% 0–5% >5% 2014–2019 (US$)

66
Part 5: Competitive Environment

Private label penetration in the Asia-Pacific bakery & cereals sector

Asia-Pacific bakery & cereals sector had a lower private label penetration when compared with global average
The overall market share of private label products in the Asia-Pacific bakery & cereals sector stood at 6.6% by value as of 2019, lower than the market penetration of private label in the global
market which stood at 9.3%, in 2019. Among the high potential countries in the Asia-Pacific, Australia held the highest private label share of 11.8%, followed by China with 9.2%. The private label
penetration in cakes, pastries & sweet pies category stood at 38.2% in Australia.

Private Label penetration (in value terms) in bakery & cereals sector, 2019

Cakes, Cereal Cookies Energy Morning Savory

Bakery & Baking Baking Bread & Breakfast Dough
Pastries & Bars (Sweet Bars Goods Biscuits
Cereals Ingredients Mixes Rolls Cereals Products
Sweet Pies Biscuits)
Global & Asia-

Global 9.3% 6.1% 5.1% 9.3% 7.9% 9.3% 6.7% 9.3% 9.5% 6.8% 14.9% 5.6%
Pacific

Asia-Pacific 6.6% 3.2% 3.9% 6.4% 3.6% 10.6% 1.6% 1.9% 6.4% 0.3% 1.3% 1.1%

Japan 3.0% - - 8.6% 4.8% 2.2% 2.5% 3.6% - - - 7.3%

High-Potential Countries

Australia 11.8% - 11.0% 16.8% 10.4% 38.2% - 11.5% - - - -

China 9.2% 2.7% 4.0% 6.2% 1.7% 12.9% 2.9% - 11.3% 4.7% - -

Singapore 4.6% - 8.8% 5.7% 1.6% 6.1% 7.7% 0.5% 7.4% 5.4% 6.8% 9.0%

Others 3.2% 7.9% 1.8% 3.8% 2.2% 5.9% - 1.3% 1.7% 0.1% 5.3% 1.8%

67
Part 6: Health & Wellness Analysis
 Part 6: Health & Wellness Analysis

Value share analysis of Health & Wellness market

The health & wellness market in the Asia-Pacific bakery & cereals sector is expected to record a CAGR growth of 2.5% over 2019–2024
In the Asia-Pacific region, bakeries & cereals with health & wellness (H&W) attributes accounted for 11.3% of the overall value sales in 2019, lower than the global share of 25.6% in the same year.
The H&W in the bakery & cereals sector in the Asia-Pacific saw a growth during 2014–2019 at a CAGR of 3.9% and is forecast to grow at a positive CAGR of 2.5% over 2019–2024, driven by rising
living standards and health consciousness among consumers. Among the high-potential countries, Japan is expected to register the highest CAGR growth of 5% each during 2019–2024, followed by
Singapore with a CAGR growth of 2.8%.

Health & Wellness value and its share in overall sales, 2014–2024

2014 2019 2024 2019 2024

CAGR 2014–2019 CAGR 2019–2024
(US$ million) (US$ million) (US$ million) % share % share

Global 1,39,840.3 1,35,756.6 1,50,502.3 25.6% 25.2% -0.6% 2.1%

Global & Asia-
Pacific

Asia Pacific 11,705.9 14,188.0 16,069.8 11.3% 10.3% 3.9% 2.5%

Japan 1,606.8 2,275.8 2,905.5 8.9% 9.5% 7.2% 5.0%

High-Potential
Countries

Australia 3,378.7 3,074.0 3,277.6 40.7% 39.1% -1.9% 1.3%

China 1,958.9 2,594.4 2,914.3 3.8% 3.3% 5.8% 2.4%

Singapore 231.9 301.6 345.7 41.4% 41.8% 5.4% 2.8%

69
Part 6: Health & Wellness Analysis

Health & wellness market growth analysis by country

Japan is forecast to contribute the most to the growth of the health & wellness market during 2019–2024

The overall value sales of the bakery & cereals market with health & wellness (H&W) attributes in the Asia-Pacific region is expected to rise from US$14,188 million in 2019 to US$16,069.8million
by 2024. Japan is forecast to lead the H&W market’s growth, with a contribution of US$629.8 million, during the next five years. The growth of H&W-attributed products in Asia-Pacific is due to
growing interest in added vitamins and fiber rich range. Therefore, manufacturers are launching a variety of offerings in the H&W space to take advantage of this potential. India is forecast to be
the second-biggest contributor, with sales of US$511.9 million, followed by China with US$319.8 million.

Country-level contribution to the growth of H&W Market in Asia Pacific, 2019–2024

18,000
319.8 44.1 16,069.8
203.7 511.9 123.3 49.3
16,000 629.8
14,188.0
14,000

12,000
Value (US$ million)

10,000

8,000

6,000

4,000

2,000

0
2019 Japan Australia China Singapore India Indonesia Others 2024
70
 Part 6: Health & Wellness Analysis

Key product attributes and consumer benefits

‘General Wellbeing’ was the most sought-after consumer attribute in the Asia-Pacific bakery & cereals sector
The ‘naturally healthy’ attribute plays a major role in driving sales of bakery & cereal products in the Asia-Pacific region, while ‘General Wellbeing’ is the most sought-after consumer benefit.
Amongst the high potential countries, ‘naturally healthy’ was attributed the highest in China (91%), followed by the Australia (59.1%) and Singapore (55.9%). In terms of key consumer benefits,
all the high potential countries were present in ‘health management and general wellbeing’ categories. Increasing instances of diabetes and obesity in the Asia-Pacific is driving the sales of
sugar-free, gluten-free, and allergen-free products. In addition, rising health-consciousness, creates an upright market for H&W products.

Share of product attributes in high-potential countries Asia-Pacific, 2019

Japan Australia China Singapore Others

Naturally Healthy (NH) 59.0% 19.1% 59.1% 91.0% 55.9% 60.5%

Key Product Attributes

Functional & Fortified 19.9% 78.1% 2.5% 7.5% 14.4% 12.2%

Free From 12.0%

2.8% 15.8% - 21.1% 18.2%

Food Intolerance (FI) 5.9% - 21.5% - - 3.0%

Food Minus 3.2% - 1.1% 1.5% 8.6% 6.1%

General Wellbeing 59.9% 88.1% 54.8% 64.5% 56.2% 50.1%

Key Consumer
Benefits

Health Management 33.8% 11.9% 42.7% 34.3% 23.8% 37.7%

Weight & Shape Management 6.3% - 2.5% 1.2% 20.0% 12.2%

71
 Part 6: Health & Wellness Analysis

Leading health & wellness companies by category (1/3)

Aikou led the baking ingredients category for H&W products with 71.5% value share in 2019
Leading Health & Wellness companies by category, 2019
Baking Ingredients Baking Mixes

Aikou Nisshin seifun Group Inc Sis`88 Pte Ltd Green`s General Foods Vitaco Holdings Limited
Bakels Group
Pty Ltd

71.5% 6.0% 4.9% 18.3% 9.5% 8.3%

Aussie Health Products Goodman Fielder
Goodman Fielder Private Label Private Label

3.0% 2.9% 3.6% 7.1% 5.0% 8.3%

Breakfast Cereals
Bread & Rolls

Associated British The Kellogg Company Viz Branz Limited Calbee, Inc.
Goodman Fielder QAF Limited
Foods Plc

20.5% 11.3% 11.2%

8.3% 6.5% 4.8% Cereal Partners
PepsiCo Private Label
Worldwide S.A.
Britannia August Storck Kg Private Label

2.2% 1.8% 9.1% 11.1% 8.0% 4.5%

72
 Part 6: Health & Wellness Analysis

Leading health & wellness companies by category (2/3)

Britannia led the cookies (sweet biscuits) category for H&W products with 25.3% value share in 2019
Leading Health & Wellness companies by category, 2019
Cakes, Pastries & Sweet Pies Cereal Bars
Pavillion Asahi Group Cereal Partners
Goodman Fielder Lifestyle Bakery Pty Ltd Be Natural Foods
Foods Ltd Holdings, Ltd. Worldwide S.A.

21.8% 19.5% 8.2% 24.9% 6.9% 2.0%

Private Label PepsiCo General Mills, Inc.
Private Label

20.2% 1.6% 1.5% 1.8%

Energy Bars
Cookies (Sweet Biscuits)

PT Mayora Nestlé SA Orion Confectionery Co, Ltd. Calbee, Inc.

Britannia ITC Limited
Indah

16.6% 7.2% 4.3%

25.3% 10.7% 9.7% Cereal Partners
Post Holdings, Inc Private Label
Worldwide S.A.
Parle Products Pvt Ltd Surya Foods Private Label

5.1% 3.8% 3.5% 4.2% 3.2% 2.0%

73
 Part 6: Health & Wellness Analysis

Leading health & wellness companies by category (3/3)

Khong Guan Biscuit Factory (S) Pte Ltd led the savory biscuits category for H&W products with 24.4% value share in 2019
Leading Health & Wellness companies by category, 2019
Savory Biscuits
Khong Guan Biscuit Campbells
Factory (S) Pte Ltd PT. Nissin Biscuit Indonesia
Soup Company

24.4% 13.0% 6.1%

PepsiCo Parle Products Pvt Ltd Private Label

3.7% 3.6% 0.2%

74
Part 7: Distribution Analysis
 Part 7: Distribution Analysis

Leading distribution channels by country

Food & drinks specialists was the leading distribution channel with 38.2% share in Asia-Pacific bakery & cereals sector, in 2019

Food & Drinks Specialists was the leading distribution channel in the Asia-Pacific bakery & cereals sector, with a value share of 38.2% in 2019, followed by hypermarkets & supermarkets stores
with a 33.5% share. Hypermarkets & supermarkets accounted for the highest value share of 60.8% in Japan, among high potential countries. The hypermarkets & supermarkets stores
accounted for 56.9% and 55% shares in Australia and Singapore, respectively. The food & drinks specialists was the largest distribution channel in China with 51.3% share in 2019.

Leading Distribution Channels in Asia-Pacific by Country, 2019

“Dollar Stores”, Variety

Hypermarkets &
Food & Drinks Specialists Convenience Stores eRetailers Stores & General Others
Supermarkets
Global & Asia-Pacific

Merchandise Retailers

Global 39.0% 36.7% 17.7% 2.4% 1.1% 3.1%

Asia-Pacific 33.5% 38.2% 19.8% 3.0% 0.6% 4.9%

Japan 60.8% 21.6% 10.7% 1.5% - 5.4%

High-Potential
Countries

Australia 56.9% 24.4% 17.6% 0.2% - 0.9%

China 24.1% 51.3% 15.7% 4.6% 1.0% 3.3%

Singapore 55.0% 22.4% 18.3% 1.3% - 3.0%

Note: Others includes Cash & Carries & Warehouse Clubs, Department Stores, Vending machines, Drug stores & Pharmacies, Others 76
.
Part 7: Distribution Analysis

Leading distribution channels by category (1/4)

Food & drinks specialists accounted for 73.4% value share in the bread & rolls category in China, in 2019
Leading Distribution Channels in Asia-Pacific by Category, 2019
“Dollar Stores”, Variety
Hypermarkets & Food & Drinks
Convenience Stores eRetailers Stores & General Others
Supermarkets Specialists
Merchandise Retailers
Global 61.2% 13.3% 20.1% 2.8% 1.0% 1.6%
Asia-Pacific 60.3% 12.5% 21.3% 2.1% 0.1% 3.7%
Ingredients

Japan 65.6% 19.1% 9.1% 1.7% - 4.5%

Baking

Australia 74.3% 8.0% 17.0% - - 0.7%

China 49.6% 10.5% 33.8% 4.8% 0.5% 0.8%
Singapore 69.0% 8.7% 19.3% 1.5% - 1.5%

Global 15.7% 16.8% 20.8% 10.0% 11.2% 25.5%

Asia-Pacific 18.8% 18.9% 17.3% 12.9% 11.5% 20.6%
Baking Mixes

Japan 20.6% 8.8% 28.3% 14.0% 16.1% 12.2%

Australia 24.5% 38.9% 17.8% 8.6% 1.8% 8.4%
China 14.3% 19.0% 18.5% 9.7% 2.1% 36.4%
Singapore 20.9% 18.8% 9.0% 23.3% 21.7% 6.3%

Global 26.8% 50.5% 17.0% 1.1% 1.1% 3.5%

Asia-Pacific 26.7% 42.9% 19.7% 2.2% 0.4% 8.1%
Bread & Rolls

Japan 63.5% 15.7% 14.7% 1.6% - 4.5%

Australia 47.5% 35.5% 16.2% - - 0.8%
China 7.9% 73.4% 8.9% 4.8% 0.5% 4.5%
Singapore 45.8% 30.5% 18.9% 1.2% - 3.6%

Note: Others includes Cash & Carries & Warehouse Clubs, Department Stores, Vending machines, Drug stores & Pharmacies, Others. 77
Part 7: Distribution Analysis

Leading distribution channels by category (2/4)

Hypermarkets & Supermarkets accounted for 69.6% value share in the cereal bars category in Singapore, in 2019
Leading Distribution Channels in Asia-Pacific by Category, 2019
“Dollar Stores”, Variety
Hypermarkets & Food & Drinks
Convenience Stores eRetailers Stores & General Others
Supermarkets Specialists
Merchandise Retailers
Global 60.8% 7.4% 20.7% 3.3% 1.3% 6.5%
Breakfast Cereals

Asia-Pacific 48.2% 5.0% 19.7% 1.7% 0.2% 25.2%

Japan 82.1% 4.2% 7.4% 1.0% - 5.3%
Australia 71.8% 8.0% 17.2% 2.0% - 1.0%
China 21.9% 2.3% 18.0% 2.0% 0.2% 55.6%
Singapore 69.6% 3.6% 14.5% 1.3% - 11.0%

Global 33.2% 48.8% 11.5% 3.7% 1.0% 1.8%

Cakes, Pastries &

Asia-Pacific 24.1% 57.1% 12.1% 4.0% 0.4% 2.3%

Sweet Pies

Japan 51.8% 31.5% 10.0% 1.5% - 5.2%

Australia 27.5% 54.4% 17.0% - - 1.1%
China 17.8% 64.4% 11.6% 4.9% 0.5% 0.8%
Singapore 12.0% 74.8% 6.8% 1.3% - 5.1%

Global 60.0% 12.1% 19.4% 3.6% 1.5% 3.4%

Asia-Pacific 64.9% 11.5% 17.1% 1.3% - 5.2%
Cereal Bars

Japan 64.2% 13.6% 14.9% 1.7% - 5.6%

Australia 74.5% 7.8% 16.9% - - 0.8%
China 46.1% 5.5% 38.3% 4.9% 0.5% 4.7%
Singapore 69.6% 5.5% 22.3% 1.2% - 1.4%

Note: Others includes Cash & Carries & Warehouse Clubs, Department Stores, Vending machines, Drug stores & Pharmacies, Others. 78
Part 7: Distribution Analysis

Leading distribution channels by category (3/4)

Hypermarkets & Supermarkets accounted for 74.5% value share in the energy bars category in Australia, in 2019
Leading Distribution Channels in Asia-Pacific by Category, 2019
“Dollar Stores”, Variety
Hypermarkets & Food & Drinks
Convenience Stores eRetailers Stores & General Others
Supermarkets Specialists
Merchandise Retailers
Global 48.3% 17.7% 26.4% 2.5% 1.4% 3.7%
Cookies (Sweet

Asia-Pacific 41.8% 14.2% 35.4% 2.6% 1.5% 4.5%

Biscuits)

Japan 68.4% 13.5% 9.9% 1.6% - 6.6%

Australia 58.2% 22.1% 19.2% - - 0.5%
China 47.4% 10.1% 29.2% 6.2% 4.8% 2.3%
Singapore 68.8% 8.6% 20.6% 1.2% - 0.8%

Global 57.4% 11.1% 26.9% 1.5% 1.0% 2.1%

Dough Products

Asia-Pacific 56.7% 9.2% 29.8% 0.2% 0.3% 3.8%

Japan 76.5% 7.5% 10.2% 1.3% - 4.5%
Australia 74.8% 7.9% 16.7% - - 0.6%
China 56.7% 9.5% 33.0% - 0.5% 0.3%
Singapore 73.1% 7.2% 18.6% 1.0% - 0.1%

Global 65.6% 8.2% 18.5% 3.4% 1.2% 3.1%

Asia-Pacific 70.5% 4.0% 17.8% 1.2% - 6.5%
Energy Bars

Japan 71.4% 2.7% 16.2% 1.4% - 8.3%

Australia 74.5% 7.6% 16.9% - - 1.0%
China 43.2% 5.6% 41.4% 5.0% 0.5% 4.3%
Singapore 69.2% 2.3% 23.8% 1.6% - 3.1%

Note: Others includes Cash & Carries & Warehouse Clubs, Department Stores, Vending machines, Drug stores & Pharmacies, Others 79
Part 7: Distribution Analysis

Leading distribution channels by category (4/4)

Food & drinks specialists accounted for 64.1% value share in the morning goods category in China, in 2019
Leading Distribution Channels in Asia-Pacific by Category, 2019
“Dollar Stores”, Variety
Hypermarkets & Food & Drinks
Convenience Stores eRetailers Stores & General Others
Supermarkets Specialists
Merchandise Retailers
Global 48.0% 28.8% 17.4% 2.8% 1.2% 1.8%
Morning Goods

Asia-Pacific 42.9% 35.9% 17.0% 0.8% 0.3% 3.1%

Japan 65.2% 19.7% 8.9% 1.7% - 4.5%
Australia 48.3% 26.4% 24.5% - - 0.8%
China 20.4% 64.1% 14.9% - 0.5% 0.1%
Singapore 69.0% 10.1% 19.4% 1.2% - 0.3%

Global 55.4% 14.5% 22.6% 3.1% 1.4% 3.0%

Savory Biscuits

Asia-Pacific 45.5% 14.3% 32.1% 3.2% 1.2% 3.7%

Japan 67.3% 16.2% 9.9% 1.7% - 4.9%
Australia 59.9% 21.8% 15.8% - - 2.5%
China 48.0% 12.7% 28.6% 5.0% 1.9% 3.8%
Singapore 70.0% 8.0% 20.4% 1.5% - 0.1%

Note: Others includes Cash & Carries & Warehouse Clubs, Department Stores, Vending machines, Drug stores & Pharmacies, Others. 80
Part 8: Packaging Analysis
Part 8: Packaging Analysis

Growth analysis by key pack material and pack type

Flexible packaging accounted for a 70.5% share of all the pack materials used in Asia-Pacific bakery & cereals sector in 2019
Key pack material volume (units) share, 2019 Unit volume growth by pack material, 2014–2024
Flexible Packaging Rigid Plastics Paper & Board Others*
4.6% 1.2%
Flexible Packaging

Rigid Plastics 10%

23.7%
Paper & Board
5%
70.5%
Others*
0%
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Flexible packaging was the most widely used pack material, accounting for a 70.5% share in
2019, followed by rigid plastics with a 23.7% share in the same year. Rigid plastics is forecast to grow at a CAGR of 2.2% closely followed by paper & board at a
CAGR of 1.8% during 2019–2024.

Key pack type volume (units) share, 2019 Unit volume growth by pack type, 2014–2024

3.8% 3.5% Bag/Sachet Bag/Sachet Film Tray Clamshell Carton - Folding Others**
4.0% Film
Tray 10%
19.0% 38.2%
Clamshell 5%
Carton - Folding 0%
31.5% Others** -5%
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Bag/sachet was the most commonly used pack type in the bakery & cereals sector,
In bakery & cereals sector, the use of tray and film are expected to grow at a CAGR of 2.3%
accounting for 38.2% share in 2019. This was followed by film, accounting for a 31.5% share.
and 2.2%, respectively, during 2019–2024.

Others* include glass, and rigid metal 82

Others** include tub, specialty container, stand up pouch, can, wrapper, jar, bottle, tube, sleeve, foil
Part 8: Packaging Analysis

Growth analysis by closure type and outers

Bag primary outer type is forecast to witness fastest growth in Asia-Pacific bakery & cereals sector with 2.5% CAGR, in 2019

Key closure type volume (units) share, 2019 Unit volume growth by closure type, 2014–2024

Plastic Tie Film Prize off Others*

6.8%
5.5% Plastic Tie 10%
3.3% 5%
Film
1.0% 0%
Prize off
-5% 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Others*
83.4% -10%
None

Closure type was not commonly used in bakery & cereals packaging in the Asia-Pacific in
2019. However, plastic tie accounted for 6.8% share in closure type packaging closely The use of film in closure type is expected to grow at the fastest CAGR of 2.3%, followed by
followed by film with 5.5% share in 2019. prize off with 1.3%, d9uring 2019–2024.

Key primary outer type volume (units) share, 2019 Unit volume growth by primary outers, 2014–2024
Carton - Folding Bag Others**
17.0% Carton - Folding
10%
Bag
10.7% 5%
Others**
0.2% 0%
72.1% None 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
-5%

The use of primary outer types was not common in the Asia-Pacific bakery & cereals Among outer type packaging, bag is forecast to grow at a CAGR of 2.5%, followed by carton-
sector, however, 17% of products used carton-folding primary outer type in 2019. folding with 1.6%, during 2019–2024.

Others* include Screw Top, Foil, Twist Off, Flip/Snap Top, Sports Cap, Other 83
Others** include Sleeve, Shrink Wrap, Other
Part 9: Challenges and Future Outlook
Part 9: Challenges and Future Outlook

Key challenges in the Asia-Pacific bakery & cereals sector

Bakery & cereals laden with fat and sugar continues to remain a major concern for manufacturers in Asia-Pacific

Lack of proper refrigeration and inadequate distribution

Semi-urban and rural areas in countries such as Bangladesh, Myanmar, Pakistan, Indonesia, and India are struggling with electricity supply, making it hard for retailers
to store and retain the freshness of baked goods. This lack of appropriate cold chain logistics in developing countries to store and transport bread & rolls, cakes,
pastries & sweet pies, etc. hinders the growth of the bakery & cereals market in the Asia-Pacific region.

Health & wellness trend is on rise

Given the rising incidence of obesity, overweight, and other lifestyle based diseases across the region, Asian consumers are increasingly seeking food, which is
claimed to be free from sugar, fat, and gluten, as well free from artificial colors or preservatives. For instance, 73% of Indian urban population is overweight and
witness poor quality of life. The country has the second highest number of obese children in the world, who are more prone to develop various medical condition
than their peer1. Similarly, obesity and overweight has become national concern for China, where 46% of adult population is either obese or overweight2 and seeking
healthier food/drinks substitute. Additionally, breads manufactured in the Asia-Pacific region are claimed to be high in fat and sugar (about 15 to 25 percent)3. In line
with healthy trend, manufacturers are trying to develop new products with low/zero calorie/fat/preservative/sugar claim, which can be a challenge for their
business.

Competition from fast food outlets

Manufacturers of breakfast cereals are facing increasing competition from fast food outlets that are eager to capture a share of the burgeoning breakfast foods
market in the Asia-Pacific region. For instance, Dunkin’ Donuts is expanding its footprint in Asia and is offering mobile app discounts in a bid to increase revenues
from its breakfast menus across the region. Meanwhile, McDonald’s is offering breakfast menus tailored to Asian consumer tastes. For instance, the company
launched cheese and egg in a Filipino-style bread roll in the Philippines, and twisty pasta soup in Hong Kong. Therefore, manufacturers of cereal products have their
work cut out in this increasingly competitive sector.

[1] Business World as on Sep,2020; [2] The Lancet Global Health; [3]Michelin Guide 85
Part 9: Challenges and Future Outlook

Future Outlook in the Asia-Pacific bakery & cereals sector

E-commerce will gain prominence in APAC bakery & cereals market

New artisanal products are making their way E-commerce will emerge as a key channel Clean label products will witness notable
in the bakery & cereals sector in Asia-Pacific for bakery & cereals sector growth

Busy lifestyle and long working hours coupled with

convenience and discount offers is likely to drive A growing number of consumers in the Asia-Pacific
With the rising number of locals traveling region are increasingly concerned with what goes into
consumers to buy bakery and cereal products from various
internationally, especially to the EU region, and a surge their food and how it is produced. As a result, the
e-commerce platforms in the Asia Pacific region.
in the dining-out culture, particularly among millennials, popularity of clean labels and simple ingredients in
Furthermore, rising internet penetration rates (88% in
there is an inclination towards international cuisine, packaged foods is increasing. To capitalize on this need,
Australia and 86.2% in Japan in 2018)2 will also foster the
such as sourdough and other artisanal breads. This was manufacturers are likely to put more emphasis on
growth in e-commerce1. The bakery & cereals sector in
substantiated by a consumer survey wherein a organic ingredients. for instance, 42% of Chinese
major Asia-Pacific markets will look to expand opportunities
significant 19% and 20% of the respondents in China respondents and 74% of Indian respondents associate
through online platforms for better reach and improved
and India, respectively, perceive that handmade/artisan the term natural with ‘organic’ claims4. Furthermore,
sales, as these platforms ensure delivery of the products at
food/drinks are of ‘high-quality’1. The ability of artisanal growing health concerns over the presence of artificial
the consumers’ doorsteps. This is also supported by
products to evoke a sense of comfort and nostalgia additives suggests massive potential for bakery & cereals
GlobalData survey, where 57% Japanese respondents
among consumers is likely to drive growth in the with ‘free-from’ claims. As many as 63% of Chinese and
prefer to purchase food and drink products online3. In India
category in the approaching years. As a result, the 51% of Indian respondents associate with the term
‘Big basket’, a online store offers various types of cookies at
number of artisanal bakeries and specialty coffee ‘natural’ with preservative-free products5. Therefore, the
discounted price. These online marketplaces is expected to
houses will increase in the region in the near future to manufacturers will focus on highlighting the
gain huge recognition in major Asian countries such as
cater to this burgeoning demand. organic/natural/preservative free attributes of their
China, India, Japan, Australia, etc., and will drive the growth
of bakery & cereals sector in Asia-Pacific region. products in the long run.

[1] GlobalData 2018 Q3 Consumer Survey – China, India; [2] GlobalData Microeconomic Data; [3] GlobalData 2018 Q4 Consumer Survey – Japan; 86
[4] GlobalData 2019 Q4 Consumer Survey – China, India; [5] GlobalData 2019 Q3 Consumer Survey – China, India
Appendix
Appendix
Global bakery & cereals Sales, by Region – Value (US$ Million)

Region 2019 2020 2021 2022 2023 2024

Asia Pacific 1,38,271.2 1,43,247.4 1,49,868.2 1,56,716.1 1,62,776.5 1,68,785.1

Middle East & Africa 49,760.1 49,142.7 49,547.3 50,327.2 51,448.5 53,287.0

Americas 2,12,572.3 2,16,052.2 2,23,286.8 2,29,979.6 2,36,284.9 2,43,119.6

Western Europe 1,50,901.7 1,47,361.7 1,48,823.3 1,49,978.7 1,51,059.7 1,52,687.4

Eastern Europe 46,461.5 47,070.5 48,597.5 49,699.3 50,491.7 51,374.0

Global bakery & cereals Sales, by Region – Volume (Million Kg)

Region 2019 2020 2021 2022 2023 2024

Asia Pacific 31,865.4 32,007.3 32,235.5 32,302.5 32,330.2 32,315.8
Middle East & Africa 40,220.6 39,380.5 38,814.5 38,148.9 37,459.3 36,754.7

Americas 40,348.3 40,288.6 40,475.4 40,607.9 40,676.1 40,775.8

Western Europe 32,565.6 31,455.4 30,915.2 30,426.4 29,953.3 29,519.0

Eastern Europe 35,560.1 35,524.1 35,795.7 35,924.5 35,949.2 35,984.9

88
Appendix

Growth analysis, by Country – Value (US$ million)

Country 2019 2020 2021 2022 2023 2024

Armenia 280.3 259.4 244.5 229.5 215.1 201.9
Australia 7,546.9 7,524.3 7,721.1 7,929.9 8,145.2 8,384.9
Azerbaijan 836.9 852.6 876.9 902.1 926.1 950.5
Bangladesh 933.2 904.9 897.5 887.4 874.3 861.9
China 68,579.8 72,089.1 76,312.9 81,156.7 85,320.9 89,248.9
Georgia 663.5 670.1 687.6 705.4 714.6 726.1
Hong Kong 909.4 924.1 944.0 967.9 987.2 1,004.5
India 7,838.1 8,242.2 8,747.4 9,181.8 9,609.4 10,069.6
Indonesia 4,578.1 4,834.1 5,038.8 5,196.1 5,345.7 5,485.6
Japan 25,449.9 26,451.9 27,593.0 28,568.7 29,473.7 30,482.4
Kazakhstan 1,494.8 1,523.0 1,551.7 1,574.1 1,584.6 1,596.9
Kyrgyzstan 213.0 213.4 214.1 215.5 216.1 217.3
Macau 81.3 79.2 77.9 76.7 75.9 75.3
Malaysia 1,084.0 1,068.3 1,100.5 1,125.6 1,152.0 1,180.6
Myanmar 397.7 401.6 416.3 435.5 453.0 471.0
New Zealand 1,777.1 1,763.1 1,809.7 1,834.3 1,857.9 1,883.3
Pakistan 1,063.9 1,019.5 994.4 947.3 897.5 851.1
Philippines 1,706.2 1,603.0 1,574.6 1,552.8 1,525.1 1,498.0
Singapore 727.9 728.5 754.4 780.0 803.7 827.9
South Korea 4,010.6 3,937.2 4,029.4 4,098.9 4,164.0 4,240.4
Sri Lanka 361.4 366.0 379.1 385.5 393.9 404.1
Taiwan 1,583.6 1,536.1 1,549.9 1,561.6 1,567.2 1,577.0
Thailand 1,452.6 1,453.9 1,464.2 1,468.5 1,474.7 1,477.5
Turkmenistan 651.3 709.8 756.1 775.7 789.9 803.1
Uzbekistan 2,121.3 2,125.5 2,114.3 2,094.7 2,107.7 2,120.1
Vietnam 1,928.4 1,966.7 2,017.7 2,063.7 2,100.7 2,145.3

89
Appendix

Growth analysis, by Country – Volume (kg million)

Country 2019 2020 2021 2022 2023 2024

Armenia 143.5 136.6 131.2 125.5 119.9 114.6
Australia 1,114.8 1,119.3 1,126.5 1,132.5 1,137.0 1,142.6
Azerbaijan 853.1 857.8 870.4 884.2 897.5 910.2
Bangladesh 393.3 380.7 377.6 373.0 367.8 362.9
China 11,876.1 12,097.6 12,362.1 12,568.6 12,749.6 12,881.6
Georgia 331.7 327.2 324.3 320.6 316.6 312.7
Hong Kong 102.4 100.9 99.9 98.7 97.5 96.1
India 6,026.1 6,128.3 6,135.6 6,063.6 5,987.7 5,921.9
Indonesia 1,276.2 1,305.4 1,318.3 1,329.1 1,336.2 1,339.4
Japan 2,565.1 2,515.5 2,512.3 2,507.7 2,503.4 2,496.8
Kazakhstan 873.9 852.0 841.3 826.7 810.2 794.3
Kyrgyzstan 135.1 129.4 124.1 118.9 113.2 107.9
Macau 10.6 10.3 10.1 9.8 9.5 9.2
Malaysia 347.5 340.1 338.7 336.6 334.4 332.3
Myanmar 152.4 151.3 156.4 162.5 168.2 174.0
New Zealand 298.5 288.8 286.5 280.8 275.6 270.3
Pakistan 772.5 722.4 703.7 681.5 658.1 635.3
Philippines 430.7 411.3 404.4 395.7 386.8 378.1
Singapore 136.5 130.8 128.5 126.3 124.1 121.8
South Korea 586.0 586.9 586.4 582.7 578.6 574.2
Sri Lanka 209.8 210.1 210.6 210.2 209.7 209.4
Taiwan 224.3 214.4 209.0 203.0 197.0 191.3
Thailand 276.0 269.1 264.4 259.2 254.3 249.3
Turkmenistan 424.9 416.6 409.1 401.0 393.1 385.4
Uzbekistan 1,788.4 1,788.4 1,788.4 1,788.4 1,788.4 1,788.4
Vietnam 516.01 516.01 516.01 516.01 516.01 516.01

90
Appendix

Category Growth Analysis, by Country – Baking Ingredients (US$ Million)

Country 2019 2020 2021 2022 2023 2024

Armenia 1.0 0.9 0.9 0.9 0.9 0.8
Australia 260.2 258.6 263.7 269.0 274.2 280.0
Azerbaijan 8.9 8.8 8.7 8.5 8.3 8.1
Bangladesh 1.0 1.0 1.0 1.0 1.0 1.0
China 144.2 155.0 167.8 180.7 193.9 205.3
Georgia 4.6 4.5 4.6 4.7 4.7 4.8
Hong Kong 32.2 33.1 34.5 35.9 37.3 38.6
India 20.5 21.4 22.0 22.4 22.6 22.9
Indonesia 205.0 216.5 224.8 231.7 238.8 245.5
Japan 603.9 601.7 602.7 598.7 592.6 587.7
Kazakhstan 6.4 6.5 6.7 6.9 7.0 7.1
Kyrgyzstan 0.9 0.9 1.0 1.0 1.0 1.0
Macau 3.3 3.2 3.2 3.1 3.1 3.1
Malaysia 47.1 45.1 46.6 47.2 47.8 48.6
Myanmar 1.3 1.3 1.3 1.3 1.4 1.4
New Zealand 77.0 78.4 80.0 81.0 82.0 83.3
Pakistan 2.7 2.7 2.7 2.6 2.5 2.4
Philippines 2.6 2.5 2.5 2.4 2.4 2.3
Singapore 38.7 38.4 39.6 40.9 42.1 43.4
South Korea 132.9 130.1 133.6 136.5 139.0 142.1
Sri Lanka 0.5 0.5 0.5 0.5 0.5 0.5
Taiwan 10.4 10.2 10.6 11.0 11.3 11.7
Thailand 2.4 2.4 2.4 2.4 2.4 2.4
Turkmenistan 2.7 3.0 3.3 3.4 3.5 3.6
Uzbekistan 8.9 8.9 8.9 8.8 8.9 8.9
Vietnam 42.2 43.1 44.2 45.2 46.0 47.1

91
Appendix

Category Growth Analysis, by Country – Baking Mixes (US$ Million)

Country 2019 2020 2021 2022 2023 2024

Armenia 1.6 1.5 1.5 1.4 1.4 1.3
Australia 425.4 433.1 452.2 470.8 489.9 511.0
Azerbaijan 13.3 13.5 13.9 14.4 14.8 15.2
Bangladesh 1.3 1.3 1.3 1.3 1.3 1.4
China 1,893.5 2,055.5 2,167.0 2,267.6 2,364.3 2,443.7
Georgia 3.1 3.1 3.2 3.3 3.3 3.4
Hong Kong 6.7 6.8 7.1 7.3 7.6 7.8
India 62.6 65.7 66.5 66.0 65.1 64.1
Indonesia 314.7 335.3 349.0 360.1 370.6 380.9
Japan 416.4 428.2 445.2 459.1 472.4 487.0
Kazakhstan 11.2 10.9 10.8 10.7 10.5 10.3
Kyrgyzstan 1.4 1.4 1.4 1.4 1.3 1.3
Macau 0.8 0.8 0.7 0.7 0.7 0.7
Malaysia 40.4 38.8 39.5 39.1 38.8 38.5
Myanmar 2.2 2.3 2.4 2.5 2.6 2.7
New Zealand 154.5 153.4 154.1 154.1 153.4 152.9
Pakistan 2.6 2.6 2.7 2.7 2.7 2.7
Philippines 4.0 3.8 3.6 3.5 3.4 3.2
Singapore 7.7 7.6 7.6 7.7 7.7 7.7
South Korea 116.7 112.8 113.9 114.2 114.4 114.9
Sri Lanka 0.5 0.6 0.6 0.6 0.6 0.6
Taiwan 22.2 23.7 25.5 27.5 29.7 32.1
Thailand 3.6 3.7 3.8 3.8 3.9 4.0
Turkmenistan 11.6 13.0 14.1 14.7 15.1 15.6
Uzbekistan 17.6 17.4 17.2 17.2 17.6 18.3
Vietnam 31.7 32.4 33.4 34.3 34.9 35.7

92
Appendix

Category Growth Analysis, by Country – Bread & Rolls (US$ Million)

Country 2019 2020 2021 2022 2023 2024

Armenia 222.2 205.2 192.4 179.5 167.2 156.0
Australia 2,376.5 2,336.8 2,366.7 2,404.7 2,443.6 2,491.9
Azerbaijan 607.8 620.4 641.8 664.7 687.0 709.8
Bangladesh 146.1 146.1 149.6 152.9 155.5 158.2
China 5,052.2 5,215.3 5,269.9 5,286.0 5,289.6 5,281.8
Georgia 512.6 516.9 529.5 541.7 546.6 553.3
Hong Kong 246.5 247.7 248.4 247.6 247.0 245.4
India 1,620.6 1,640.3 1,585.6 1,512.4 1,429.4 1,352.5
Indonesia 657.4 713.1 757.9 795.3 830.2 863.6
Japan 3,083.1 3,222.5 3,412.0 3,588.1 3,739.4 3,904.5
Kazakhstan 870.1 872.4 878.0 880.8 876.6 873.6
Kyrgyzstan 113.4 113.0 112.9 113.1 112.4 112.3
Macau 22.6 21.9 21.2 20.6 20.1 19.7
Malaysia 321.6 318.4 327.6 335.6 343.8 352.3
Myanmar 134.6 134.5 141.6 150.2 158.9 168.2
New Zealand 451.2 442.2 436.2 426.4 414.2 402.8
Pakistan 509.0 489.3 480.7 462.6 441.9 422.1
Philippines 420.4 411.3 408.1 409.3 409.8 410.1
Singapore 283.7 285.0 297.6 310.7 323.4 336.6
South Korea 1,342.4 1,324.7 1,359.0 1,380.6 1,401.1 1,424.8
Sri Lanka 161.9 163.2 168.9 171.7 175.5 179.9
Taiwan 172.7 167.0 168.4 169.5 169.7 170.4
Thailand 440.9 437.6 436.7 433.7 430.4 427.4
Turkmenistan 363.6 396.5 420.7 429.4 435.6 441.3
Uzbekistan 1,225.5 1,230.4 1,223.4 1,211.5 1,215.7 1,219.3
Vietnam 573.3 583.7 598.1 611.0 622.4 635.2

93
Appendix

Category Growth Analysis, by Country – Breakfast Cereals (US$ Million)

Country 2019 2020 2021 2022 2023 2024

Armenia 0.5 0.4 0.4 0.4 0.3 0.3
Australia 934.3 927.3 931.6 939.5 949.1 959.5
Azerbaijan 0.9 0.9 1.0 1.0 1.0 1.0
Bangladesh 90.5 88.2 88.8 89.2 89.4 89.7
China 2,461.8 2,683.1 2,801.7 2,899.4 2,996.2 3,042.3
Georgia 7.4 7.5 7.7 7.9 8.0 8.2
Hong Kong 60.8 60.0 60.1 59.9 59.6 59.4
India 454.6 476.4 488.7 492.3 493.2 493.3
Indonesia 86.4 91.9 96.2 99.9 103.7 107.3
Japan 1,056.4 1,088.2 1,180.6 1,260.8 1,350.8 1,455.3
Kazakhstan 11.0 11.1 11.4 11.7 11.9 12.1
Kyrgyzstan 4.3 4.3 4.3 4.4 4.4 4.5
Macau 6.0 5.9 5.8 5.7 5.7 5.7
Malaysia 157.5 154.3 158.6 161.7 165.2 169.1
Myanmar 47.5 47.8 49.8 52.3 54.9 57.5
New Zealand 252.8 253.9 267.2 275.8 284.8 294.3
Pakistan 24.6 23.6 23.1 22.1 21.2 20.5
Philippines 111.2 103.7 103.1 102.8 102.1 101.4
Singapore 50.4 48.4 48.7 49.0 49.2 49.6
South Korea 175.5 174.7 180.4 184.7 188.9 193.8
Sri Lanka 11.5 11.9 12.5 13.0 13.5 14.0
Taiwan 100.8 99.1 102.4 106.0 109.4 113.0
Thailand 73.8 72.4 71.1 69.4 67.7 66.1
Turkmenistan 41.0 44.3 47.0 48.0 48.6 49.2
Uzbekistan 41.9 42.0 42.0 41.6 41.8 42.2
Vietnam 89.0 90.9 93.4 95.6 97.2 99.5

94
Appendix

Category Growth Analysis, by Country – Cakes, Pastries & Sweet Pies (US$ Million)

Country 2019 2020 2021 2022 2023 2024

Armenia 17.2 15.9 15.3 14.7 14.0 13.4
Australia 580.6 591.2 626.2 660.2 695.5 732.1
Azerbaijan 105.3 106.4 107.6 108.4 108.9 109.2
Bangladesh 100.6 95.4 92.5 89.6 86.1 82.7
China 44,060.4 46,688.6 50,074.3 54,193.1 57,659.5 61,034.5
Georgia 43.2 46.1 48.7 51.5 53.9 56.6
Hong Kong 276.2 285.0 293.9 309.0 319.7 329.7
India 509.8 554.8 608.3 661.0 714.4 770.6
Indonesia 747.3 789.0 823.7 856.2 886.3 915.7
Japan 10,740.6 11,213.9 11,682.7 12,090.0 12,447.1 12,840.9
Kazakhstan 222.1 236.5 247.6 258.0 266.7 275.1
Kyrgyzstan 38.4 39.1 39.8 40.7 41.9 43.2
Macau 22.6 22.2 22.0 21.9 22.0 22.1
Malaysia 198.7 195.9 202.1 208.6 215.1 221.9
Myanmar 23.2 22.9 23.2 24.0 24.3 24.5
New Zealand 200.8 200.7 210.8 216.6 223.2 229.6
Pakistan 48.6 47.0 45.8 44.1 42.3 40.7
Philippines 416.1 387.5 383.4 380.7 376.0 371.3
Singapore 66.7 66.9 70.4 75.1 79.2 83.5
South Korea 713.1 701.0 731.0 760.2 788.3 819.2
Sri Lanka 31.3 31.3 31.6 31.5 31.7 31.9
Taiwan 765.8 733.0 731.9 729.0 723.2 718.5
Thailand 431.9 423.6 415.9 406.1 396.0 386.2
Turkmenistan 87.4 94.1 99.5 100.8 101.6 102.2
Uzbekistan 320.6 319.2 315.0 312.6 316.2 319.4
Vietnam 602.1 615.0 631.5 646.1 658.0 673.0

95
Appendix

Category Growth Analysis, by Country – Cereal Bars (US$ Million)

Country 2019 2020 2021 2022 2023 2024

Armenia 0.4 0.3 0.3 0.3 0.3 0.3
Australia 355.2 352.6 362.0 371.7 381.7 393.9
Azerbaijan 0.4 0.4 0.4 0.4 0.4 0.4
Bangladesh 4.9 4.7 4.7 4.6 4.5 4.4
China 5.1 5.3 5.7 6.1 6.5 6.9
Georgia 0.0 0.0 0.0 0.0 0.0 0.0
Hong Kong 3.1 3.2 3.3 3.4 3.6 3.7
India 25.1 25.2 25.9 26.4 26.8 27.1
Indonesia 5.5 5.8 5.9 6.1 6.2 6.3
Japan 925.3 963.3 1,002.8 1,039.8 1,075.4 1,114.6
Kazakhstan 3.9 3.9 3.9 3.9 3.9 3.8
Kyrgyzstan 0.4 0.4 0.4 0.4 0.5 0.5
Macau 0.2 0.2 0.2 0.2 0.2 0.2
Malaysia 3.0 2.8 2.7 2.6 2.5 2.4
Myanmar 1.4 1.4 1.4 1.4 1.4 1.5
New Zealand 18.2 18.1 19.0 19.5 20.0 20.6
Pakistan 4.1 4.0 3.9 3.8 3.6 3.5
Philippines 2.9 2.7 2.7 2.7 2.6 2.6
Singapore 1.4 1.4 1.4 1.5 1.5 1.5
South Korea 17.6 17.0 17.1 17.1 17.1 17.2
Sri Lanka 0.5 0.5 0.6 0.6 0.6 0.6
Taiwan 3.4 3.3 3.3 3.3 3.2 3.2
Thailand 19.1 18.8 18.4 18.0 17.5 17.1
Turkmenistan 1.4 1.5 1.6 1.6 1.6 1.6
Uzbekistan 5.4 5.5 5.5 5.4 5.4 5.3
Vietnam 26.5 26.9 27.5 28.2 28.6 29.2

96
Appendix

Category Growth Analysis, by Country – Cookies (Sweet Biscuits) (US$ Million)

Country 2019 2020 2021 2022 2023 2024

Armenia 25.9 24.2 23.4 22.6 21.8 21.0
Australia 1,073.7 1,069.9 1,111.4 1,151.9 1,192.2 1,236.4
Azerbaijan 69.9 71.2 72.4 73.3 74.1 74.7
Bangladesh 485.7 463.9 453.4 440.2 426.1 412.5
China 5,941.4 6,276.9 6,722.3 7,159.3 7,607.9 8,045.7
Georgia 25.9 26.6 27.5 28.6 29.7 30.8
Hong Kong 135.4 138.4 143.7 149.0 154.2 159.1
India 3,989.2 4,216.7 4,628.0 4,991.1 5,362.4 5,754.5
Indonesia 1,586.8 1,684.1 1,764.9 1,826.3 1,886.9 1,946.1
Japan 4,042.8 4,196.4 4,346.6 4,468.3 4,597.3 4,736.9
Kazakhstan 136.4 147.6 157.9 166.4 173.4 180.7
Kyrgyzstan 25.1 25.2 25.5 25.7 25.8 26.0
Macau 12.8 12.4 12.1 11.9 11.7 11.6
Malaysia 120.2 117.1 119.9 121.9 124.0 126.4
Myanmar 144.6 147.4 151.5 157.2 161.7 165.9
New Zealand 192.8 192.3 201.6 207.1 213.2 219.2
Pakistan 398.8 378.3 363.7 340.2 316.7 295.3
Philippines 598.8 552.4 535.3 518.8 500.3 482.4
Singapore 133.2 131.3 134.3 136.7 138.9 141.0
South Korea 868.4 847.3 859.4 868.4 876.2 886.2
Sri Lanka 118.3 118.6 120.6 121.0 121.9 123.3
Taiwan 130.5 126.1 127.1 127.7 127.9 128.3
Thailand 275.7 279.1 286.2 292.5 299.1 305.3
Turkmenistan 99.3 108.4 117.2 123.3 127.8 132.3
Uzbekistan 196.7 196.2 195.0 192.6 193.7 195.5
Vietnam 463.9 472.6 484.2 495.6 503.7 513.4

97
Appendix

Category Growth Analysis, by Country – Dough Products (US$ Million)

Country 2019 2020 2021 2022 2023 2024

Armenia 4.1 3.9 3.8 3.6 3.5 3.3
Australia 260.0 258.6 262.5 266.3 269.9 274.1
Azerbaijan 5.8 5.9 6.1 6.3 6.5 6.8
Bangladesh 3.5 3.5 3.7 3.8 3.9 4.1
China 1,804.1 1,976.2 2,084.0 2,170.5 2,255.0 2,307.5
Georgia 42.2 41.4 41.8 42.8 43.3 43.9
Hong Kong 35.8 36.7 38.0 39.2 40.3 41.4
India 62.0 61.1 62.0 62.6 62.9 63.3
Indonesia 220.3 239.1 251.5 260.5 269.4 277.2
Japan 329.4 342.9 361.6 379.6 398.9 419.6
Kazakhstan 95.4 94.7 95.5 96.5 96.9 97.5
Kyrgyzstan 10.7 10.7 10.4 10.3 10.1 9.9
Macau 3.3 3.2 3.1 2.9 2.8 2.7
Malaysia 22.9 22.3 22.6 22.7 22.7 22.8
Myanmar 7.0 7.1 7.5 8.0 8.5 9.1
New Zealand 88.4 85.7 88.4 90.4 93.4 95.8
Pakistan 10.6 10.2 9.9 9.4 8.8 8.2
Philippines 72.7 66.6 64.1 61.6 58.6 55.9
Singapore 22.6 22.2 22.8 23.0 23.2 23.3
South Korea 155.0 149.2 148.6 147.1 145.4 143.8
Sri Lanka 2.4 2.3 2.4 2.3 2.4 2.4
Taiwan 17.3 17.3 17.9 18.5 19.1 19.7
Thailand 57.6 62.0 67.3 72.0 77.7 82.4
Turkmenistan 27.2 30.1 32.3 33.3 33.9 34.5
Uzbekistan 122.5 122.1 122.5 120.5 121.3 121.0
Vietnam 11.2 11.4 11.8 12.0 12.3 12.5

98
Appendix

Category Growth Analysis, by Country – Energy Bars (US$ Million)

Country 2019 2020 2021 2022 2023 2024

Armenia 0.2 0.2 0.2 0.2 0.2 0.2
Australia 256.5 271.0 288.9 306.1 324.7 343.5
Azerbaijan 0.1 0.1 0.1 0.1 0.1 0.1
Bangladesh 2.1 2.1 2.2 2.3 2.4 2.4
China 16.1 17.5 18.2 18.7 19.2 19.5
Georgia 0.0 0.0 0.0 0.0 0.0 0.0
Hong Kong 0.3 0.3 0.3 0.3 0.3 0.3
India 11.4 11.5 11.3 11.3 11.1 11.0
Indonesia 21.2 21.5 21.9 21.9 21.9 21.7
Japan 725.7 763.1 795.8 826.4 854.0 885.4
Kazakhstan 3.2 3.2 3.2 3.3 3.4 3.5
Kyrgyzstan 0.4 0.4 0.4 0.4 0.4 0.3
Macau 0.9 0.8 0.8 0.8 0.7 0.7
Malaysia 4.0 3.9 4.0 4.0 4.1 4.1
Myanmar 0.0 0.0 0.0 0.0 0.0 0.0
New Zealand 15.1 14.9 15.5 15.8 16.3 16.7
Pakistan 2.5 2.4 2.4 2.2 2.1 2.0
Philippines 5.1 4.7 4.5 4.3 4.1 3.9
Singapore 43.9 43.5 44.2 44.3 44.2 44.2
South Korea 6.0 5.9 6.0 5.9 5.9 5.8
Sri Lanka 0.2 0.2 0.2 0.2 0.2 0.2
Taiwan 1.2 1.2 1.2 1.3 1.3 1.3
Thailand 0.6 0.6 0.7 0.7 0.8 0.8
Turkmenistan 1.0 1.0 1.1 1.2 1.2 1.2
Uzbekistan 8.3 8.4 8.6 8.7 9.0 9.1
Vietnam 7.0 7.2 7.6 7.7 7.9 8.1

99
Appendix

Category Growth Analysis, by Country – Morning Goods (US$ Million)

Country 2019 2020 2021 2022 2023 2024

Armenia 4.9 4.5 4.2 3.9 3.6 3.3
Australia 581.8 577.7 590.6 603.7 618.0 633.5
Azerbaijan 10.8 10.8 11.0 11.1 11.2 11.3
Bangladesh 68.3 69.5 71.1 73.0 74.6 76.1
China 2273.1 2301.7 2336.4 2369.5 2397.0 2416.8
Georgia 19.5 18.9 19.1 19.3 19.2 19.2
Hong Kong 20.1 20.4 20.8 21.2 21.7 22.0
India 233.5 246.9 249.8 256.4 262.0 266.1
Indonesia 105.3 108.4 111.7 113.2 114.4 114.8
Japan 2842.6 2913.3 2990.4 3032.3 3070.6 3117.8
Kazakhstan 117.7 117.1 116.9 115.8 113.9 112.4
Kyrgyzstan 15.0 15.0 14.8 14.9 14.9 14.8
Macau 1.5 1.5 1.5 1.4 1.4 1.4
Malaysia 5.1 5.1 5.2 5.2 5.2 5.3
Myanmar 8.8 9.1 9.3 9.6 9.8 10.0
New Zealand 198.2 196.3 204.3 210.6 216.5 222.9
Pakistan 25.5 24.8 24.5 23.5 22.6 21.6
Philippines 7.5 7.0 6.9 6.8 6.7 6.5
Singapore 17.2 17.5 18.1 18.7 19.2 19.8
South Korea 394.2 388.0 392.3 395.4 398.0 402.0
Sri Lanka 0.7 0.7 0.8 0.8 0.9 0.9
Taiwan 280.2 277.9 284.0 290.6 296.0 302.7
Thailand 102.4 107.9 114.8 121.5 129.5 135.3
Turkmenistan 10.6 11.7 12.7 13.2 13.7 14.1
Uzbekistan 141.2 142.1 143.2 143.1 145.4 148.0
Vietnam 13.9 14.1 14.4 14.7 14.9 15.3

100
Appendix

Category Growth Analysis, by Country – Savory Biscuits (US$ Million)

Country 2019 2020 2021 2022 2023 2024

Armenia 2.4 2.2 2.2 2.1 2.0 1.9
Australia 442.8 447.3 465.4 486.0 506.4 529.1
Azerbaijan 13.8 13.9 14.0 13.9 13.7 13.6
Bangladesh 29.2 29.1 29.2 29.3 29.4 29.3
China 4928.0 4713.9 4665.5 4606.0 4531.9 4444.9
Georgia 5.1 5.1 5.3 5.6 5.7 5.9
Hong Kong 92.4 92.5 93.8 95.0 96.0 97.1
India 848.9 922.1 999.4 1079.9 1159.5 1244.2
Indonesia 628.0 629.4 631.3 625.1 617.4 606.5
Japan 683.8 718.4 772.6 825.5 875.1 932.6
Kazakhstan 17.4 19.0 19.7 20.2 20.5 20.8
Kyrgyzstan 2.9 3.0 3.1 3.2 3.4 3.6
Macau 7.4 7.2 7.3 7.3 7.4 7.5
Malaysia 163.5 164.7 171.6 177.0 182.9 189.2
Myanmar 27.2 27.9 28.3 28.9 29.5 30.1
New Zealand 128.1 127.1 132.8 137.0 140.9 145.2
Pakistan 34.9 34.6 35.0 34.2 33.1 32.1
Philippines 64.8 60.9 60.4 59.8 59.0 58.2
Singapore 62.3 66.3 69.7 72.4 74.9 77.3
South Korea 88.9 86.5 88.2 88.9 89.7 90.8
Sri Lanka 33.4 36.1 40.5 43.3 46.2 49.7
Taiwan 79.1 77.3 77.6 77.3 76.5 76.0
Thailand 44.5 45.7 47.1 48.2 49.6 50.4
Turkmenistan 5.5 6.0 6.6 6.9 7.2 7.5
Uzbekistan 32.8 33.2 33.1 32.7 32.8 33.2
Vietnam 67.7 69.5 71.7 73.4 74.8 76.5

101
Appendix

Category Growth Analysis, by Country – Baking Ingredients (Million Kg)

Country 2019 2020 2021 2022 2023 2024

Armenia 0.2 0.2 0.2 0.2 0.2 0.2
Australia 22.4 22.5 22.6 22.7 22.7 22.7
Azerbaijan 1.1 1.1 1.0 1.0 1.0 0.9
Bangladesh 0.2 0.2 0.2 0.2 0.2 0.2
China 18.2 18.9 19.8 20.6 21.4 22.0
Georgia 0.8 0.7 0.7 0.7 0.7 0.7
Hong Kong 5.8 5.8 5.9 6.0 6.0 6.1
India 3.4 3.5 3.5 3.4 3.4 3.3
Indonesia 23.6 24.2 24.4 24.8 25.0 25.3
Japan 48.2 45.8 44.2 42.4 40.6 38.9
Kazakhstan 1.3 1.2 1.3 1.3 1.3 1.3
Kyrgyzstan 0.2 0.2 0.2 0.2 0.2 0.1
Macau 0.5 0.5 0.4 0.4 0.4 0.4
Malaysia 10.3 9.8 9.7 9.5 9.4 9.2
Myanmar 0.2 0.2 0.2 0.2 0.2 0.2
New Zealand 12.4 12.4 12.3 12.1 12.0 11.9
Pakistan 0.7 0.6 0.6 0.6 0.6 0.6
Philippines 0.6 0.6 0.6 0.6 0.5 0.5
Singapore 4.2 4.0 4.0 3.9 3.9 3.8
South Korea 18.7 18.7 18.7 18.6 18.4 18.3
Sri Lanka 0.1 0.1 0.1 0.1 0.1 0.1
Taiwan 1.6 1.6 1.5 1.5 1.5 1.5
Thailand 0.3 0.3 0.2 0.2 0.2 0.2
Turkmenistan 0.6 0.5 0.5 0.5 0.5 0.5
Uzbekistan 2.6 2.6 2.6 2.6 2.6 2.6
Vietnam 4.0 4.0 4.0 4.0 4.0 4.0

102
Appendix

Category Growth Analysis, by Country – Baking Mixes (Million Kg)

Country 2019 2020 2021 2022 2023 2024

Armenia 0.3 0.3 0.3 0.3 0.3 0.3
Australia 116.1 119.2 122.4 125.0 127.5 130.0
Azerbaijan 2.8 2.8 2.9 2.9 3.0 3.0
Bangladesh 0.3 0.3 0.3 0.3 0.3 0.3
China 216.8 227.6 231.6 233.8 235.1 234.6
Georgia 0.9 0.9 0.9 0.9 0.8 0.8
Hong Kong 0.8 0.8 0.8 0.8 0.8 0.8
India 6.3 6.5 6.3 6.1 5.8 5.5
Indonesia 116.4 121.2 123.5 125.8 127.9 129.7
Japan 44.9 44.1 44.1 44.1 44.1 43.9
Kazakhstan 3.3 3.2 3.1 3.0 2.9 2.8
Kyrgyzstan 0.4 0.4 0.4 0.3 0.3 0.3
Macau 0.1 0.1 0.1 0.1 0.1 0.1
Malaysia 10.6 10.1 9.9 9.5 9.2 8.9
Myanmar 0.4 0.4 0.4 0.4 0.4 0.4
New Zealand 17.2 16.6 16.2 15.7 15.1 14.6
Pakistan 1.0 1.0 1.0 1.0 1.0 1.0
Philippines 1.6 1.6 1.5 1.4 1.4 1.3
Singapore 1.6 1.5 1.5 1.4 1.4 1.3
South Korea 22.2 21.9 21.5 21.1 20.6 20.2
Sri Lanka 0.2 0.2 0.2 0.2 0.2 0.2
Taiwan 3.7 3.9 4.0 4.2 4.4 4.6
Thailand 0.4 0.4 0.4 0.4 0.4 0.4
Turkmenistan 0.9 0.9 0.9 0.9 0.9 0.9
Uzbekistan 6.4 6.4 6.4 6.4 6.4 6.4
Vietnam 2.2 2.2 2.2 2.2 2.2 2.2

103
Appendix

Category Growth Analysis, by Country – Bread & Rolls (Million Kg)

Country 2019 2020 2021 2022 2023 2024

Armenia 134.9 128.4 123.1 117.6 112.1 107.0
Australia 437.5 434.2 431.4 429.3 426.5 424.5
Azerbaijan 809.3 814.1 826.9 841.0 854.8 868.0
Bangladesh 127.4 126.9 129.7 132.3 134.5 136.8
China 1,285.8 1,285.2 1,255.7 1,218.3 1,179.2 1,139.6
Georgia 300.9 296.5 293.7 289.9 285.8 281.8
Hong Kong 46.6 45.5 44.4 43.1 42.0 40.6
India 3,380.4 3,387.5 3,233.0 3,035.9 2,835.2 2,646.2
Indonesia 303.5 316.8 324.2 331.1 335.7 339.5
Japan 751.0 733.8 739.2 744.6 750.0 754.5
Kazakhstan 697.3 673.8 660.1 643.8 626.0 609.0
Kyrgyzstan 112.3 107.3 102.7 98.2 93.2 88.6
Macau 4.8 4.6 4.5 4.3 4.1 4.0
Malaysia 190.2 186.0 184.7 183.0 181.2 179.5
Myanmar 101.6 100.3 104.4 109.3 114.1 119.1
New Zealand 99.1 94.8 90.7 85.9 81.1 76.6
Pakistan 524.7 491.7 481.4 469.0 455.6 442.5
Philippines 159.8 157.9 156.8 155.7 154.9 153.9
Singapore 75.9 72.4 71.2 70.2 69.1 68.0
South Korea 272.2 273.5 273.3 271.0 268.5 265.8
Sri Lanka 128.8 129.0 129.3 129.3 129.2 129.1
Taiwan 53.2 50.7 49.3 47.8 46.2 44.7
Thailand 148.3 143.7 140.1 136.3 132.5 128.9
Turkmenistan 376.6 368.9 361.7 354.1 346.8 339.5
Uzbekistan 1,446.6 1,446.6 1,446.6 1,446.6 1,446.6 1,446.6
Vietnam 255.2 255.2 255.2 255.2 255.2 255.2

104
Appendix

Category Growth Analysis, by Country – Breakfast Cereals (Million Kg)

Country 2019 2020 2021 2022 2023 2024

Armenia 0.1 0.1 0.1 0.1 0.1 0.1
Australia 120.2 120.2 118.8 117.4 116.1 114.7
Azerbaijan 0.2 0.2 0.2 0.2 0.2 0.2
Bangladesh 7.6 7.3 7.2 7.2 7.1 7.0
China 384.7 405.5 409.1 409.6 408.7 402.1
Georgia 0.9 0.9 0.9 0.9 0.9 0.9
Hong Kong 5.7 5.4 5.3 5.1 4.9 4.8
India 88.3 88.6 85.6 81.4 77.0 72.9
Indonesia 12.0 12.3 12.4 12.5 12.6 12.7
Japan 81.0 79.3 79.4 79.5 79.6 79.7
Kazakhstan 3.2 3.2 3.2 3.1 3.1 3.1
Kyrgyzstan 1.1 1.1 1.0 1.0 0.9 0.9
Macau 0.5 0.5 0.5 0.5 0.5 0.5
Malaysia 25.6 25.1 25.1 25.1 25.1 25.1
Myanmar 5.3 5.2 5.4 5.6 5.8 6.1
New Zealand 32.2 31.6 32.2 32.2 32.3 32.4
Pakistan 2.3 2.2 2.1 2.1 2.0 2.0
Philippines 21.5 20.2 19.9 19.5 19.1 18.6
Singapore 3.3 3.1 3.0 3.0 2.9 2.8
South Korea 10.1 10.3 10.3 10.3 10.3 10.2
Sri Lanka 1.3 1.3 1.3 1.3 1.3 1.3
Taiwan 15.1 14.6 14.6 14.5 14.5 14.5
Thailand 5.2 5.0 4.8 4.6 4.4 4.2
Turkmenistan 2.7 2.6 2.5 2.5 2.4 2.3
Uzbekistan 11.6 11.6 11.6 11.6 11.6 11.6
Vietnam 7.1 7.1 7.1 7.1 7.1 7.1

105
Appendix

Category Growth Analysis, by Country – Cakes, Pastries & Sweet Pies (Million Kg)

Country 2019 2020 2021 2022 2023 2024

Armenia 2.4 2.3 2.2 2.2 2.2 2.1
Australia 85.7 87.9 91.6 94.7 97.7 100.6
Azerbaijan 16.2 16.1 16.0 15.8 15.5 15.2
Bangladesh 17.5 16.5 16.0 15.4 14.8 14.2
China 7,464.8 7,645.0 7,917.5 8,158.4 8,382.8 8,580.5
Georgia 10.4 10.8 11.0 11.3 11.5 11.8
Hong Kong 21.9 21.9 22.1 22.3 22.4 22.5
India 147.1 155.8 164.8 173.0 180.9 188.8
Indonesia 215.8 219.7 221.3 223.1 224.9 226.4
Japan 890.1 876.2 873.7 870.9 868.3 864.8
Kazakhstan 46.3 47.8 49.1 50.1 51.0 51.7
Kyrgyzstan 6.6 6.5 6.5 6.4 6.2 6.1
Macau 2.3 2.3 2.3 2.3 2.2 2.2
Malaysia 41.9 41.2 41.7 42.0 42.4 42.8
Myanmar 4.6 4.5 4.5 4.5 4.6 4.6
New Zealand 32.1 31.3 31.9 31.8 31.9 31.8
Pakistan 14.4 13.6 13.3 13.0 12.7 12.4
Philippines 77.7 73.1 72.1 70.6 69.0 67.3
Singapore 13.9 13.4 13.4 13.4 13.5 13.5
South Korea 88.6 89.2 91.1 92.8 94.4 95.9
Sri Lanka 8.7 8.6 8.3 8.1 7.9 7.7
Taiwan 81.3 76.6 73.9 71.0 68.1 65.3
Thailand 53.8 51.6 49.7 47.6 45.5 43.6
Turkmenistan 12.3 11.9 11.7 11.4 11.1 10.8
Uzbekistan 89.3 89.3 89.3 89.3 89.3 89.3
Vietnam 83.3 83.3 83.3 83.3 83.3 83.3

106
Appendix

Category Growth Analysis, by Country – Cereal Bars (Million Kg)

Country 2019 2020 2021 2022 2023 2024

Armenia 0.02 0.02 0.02 0.02 0.02 0.02
Australia 20.8 20.8 20.8 20.9 20.9 21.0
Azerbaijan 0.1 0.1 0.1 0.1 0.1 0.1
Bangladesh 0.2 0.2 0.2 0.2 0.2 0.2
China 0.2 0.3 0.3 0.3 0.3 0.3
Georgia - - - - - -
Hong Kong 0.1 0.1 0.1 0.1 0.1 0.1
India 1.7 1.6 1.6 1.6 1.5 1.5
Indonesia 0.4 0.4 0.4 0.4 0.4 0.4
Japan 64.2 63.8 63.8 63.8 63.9 63.9
Kazakhstan 0.5 0.5 0.5 0.5 0.5 0.5
Kyrgyzstan 0.1 0.1 0.1 0.1 0.1 0.0
Macau 0.01 0.01 0.01 0.01 0.01 0.01
Malaysia 0.2 0.2 0.2 0.2 0.2 0.2
Myanmar 0.1 0.1 0.1 0.1 0.1 0.1
New Zealand 1.4 1.4 1.4 1.4 1.4 1.4
Pakistan 0.3 0.3 0.3 0.3 0.3 0.3
Philippines 0.4 0.4 0.4 0.4 0.4 0.4
Singapore 0.04 0.04 0.04 0.04 0.04 0.04
South Korea 0.8 0.8 0.8 0.8 0.8 0.7
Sri Lanka 0.05 0.05 0.05 0.05 0.05 0.05
Taiwan 0.14 0.13 0.13 0.12 0.12 0.11
Thailand 0.9 0.9 0.8 0.8 0.8 0.7
Turkmenistan 0.1 0.1 0.1 0.1 0.1 0.1
Uzbekistan 1.0 1.0 1.0 1.0 1.0 1.0
Vietnam 1.4 1.4 1.4 1.4 1.4 1.4

107
Appendix

Category Growth Analysis, by Country – Cookies (Sweet Biscuits) (Million Kg)

Country 2019 2020 2021 2022 2023 2024

Armenia 3.2 3.1 3.0 3.0 3.0 2.9
Australia 104.7 105.6 108.3 110.6 112.6 114.7
Azerbaijan 16.4 16.5 16.4 16.4 16.2 16.0
Bangladesh 217.9 206.9 201.2 194.5 187.6 181.0
China 800.0 817.3 846.0 870.9 894.4 915.0
Georgia 4.8 4.8 4.8 4.8 4.9 4.9
Hong Kong 8.3 8.2 8.3 8.4 8.5 8.5
India 1,988.4 2,051.6 2,186.6 2,288.0 2,390.2 2,491.4
Indonesia 245.5 252.2 256.1 259.5 262.3 264.5
Japan 275.4 271.7 269.7 267.4 265.1 262.6
Kazakhstan 43.8 45.9 48.1 49.5 50.7 51.9
Kyrgyzstan 5.3 5.1 5.0 4.8 4.6 4.5
Macau 1.0 1.0 0.9 0.9 0.9 0.9
Malaysia 23.6 22.9 22.8 22.7 22.5 22.4
Myanmar 32.0 32.3 33.0 33.8 34.4 35.0
New Zealand 23.0 22.4 22.8 22.8 22.8 22.8
Pakistan 192.1 177.9 170.4 161.7 152.8 144.3
Philippines 135.4 126.1 122.5 118.0 113.3 108.7
Singapore 16.9 16.1 15.6 15.1 14.6 14.1
South Korea 83.1 83.0 82.4 81.5 80.6 79.7
Sri Lanka 59.2 58.7 58.0 57.2 56.4 55.7
Taiwan 16.0 15.2 14.8 14.2 13.7 13.2
Thailand 39.9 39.5 39.6 39.7 39.9 39.9
Turkmenistan 15.8 15.8 15.8 15.9 15.9 15.9
Uzbekistan 75.1 75.1 75.1 75.1 75.1 75.1
Vietnam 140.9 140.9 140.9 140.9 140.9 140.9

108
Appendix

Category Growth Analysis, by Country – Dough Products (Million Kg)

Country 2019 2020 2021 2022 2023 2024

Armenia 1.4 1.3 1.3 1.3 1.3 1.2
Australia 71.2 71.6 71.9 72.1 72.0 72.0
Azerbaijan 1.6 1.6 1.6 1.7 1.7 1.7
Bangladesh 1.3 1.3 1.3 1.3 1.3 1.3
China 670.7 708.9 718.2 722.0 723.9 715.4
Georgia 8.1 7.8 7.7 7.6 7.5 7.4
Hong Kong 4.0 4.0 4.0 4.0 4.1 4.1
India 26.5 25.6 25.4 24.9 24.4 23.9
Indonesia 74.8 79.2 81.2 83.0 84.8 86.2
Japan 55.7 54.9 55.4 55.8 56.1 56.5
Kazakhstan 47.2 45.7 45.5 45.3 45.0 44.8
Kyrgyzstan 5.0 4.8 4.5 4.2 4.0 3.7
Macau 0.5 0.5 0.5 0.4 0.4 0.4
Malaysia 8.4 8.1 7.9 7.7 7.5 7.3
Myanmar 0.9 0.9 0.9 1.0 1.0 1.1
New Zealand 17.9 17.0 17.1 17.0 17.1 17.0
Pakistan 6.5 6.1 5.9 5.6 5.3 5.1
Philippines 13.2 12.2 11.6 11.0 10.3 9.7
Singapore 8.6 8.1 7.7 7.4 7.1 6.8
South Korea 25.2 24.6 24.0 23.3 22.5 21.8
Sri Lanka 0.8 0.8 0.8 0.8 0.8 0.7
Taiwan 6.0 5.9 5.9 5.8 5.8 5.8
Thailand 5.4 5.7 5.9 6.2 6.6 6.9
Turkmenistan 10.6 10.5 10.3 10.2 10.0 9.9
Uzbekistan 97.3 97.3 97.3 97.3 97.3 97.3
Vietnam 1.6 1.6 1.6 1.6 1.6 1.6

109
Appendix

Category Growth Analysis, by Country – Energy Bars (Million Kg)

Country 2019 2020 2021 2022 2023 2024

Armenia 0.01 0.01 0.01 0.01 0.01 0.01
Australia 8.0 8.5 8.9 9.2 9.6 9.9
Azerbaijan 0.01 0.01 0.01 0.01 0.01 0.01
Bangladesh 0.1 0.1 0.1 0.1 0.1 0.1
China 0.7 0.7 0.7 0.7 0.7 0.7
Georgia - - - - - -
Hong Kong 0.01 0.01 0.01 0.01 0.01 0.01
India 0.9 0.9 0.9 0.8 0.8 0.8
Indonesia 1.6 1.5 1.5 1.5 1.5 1.5
Japan 21.3 21.3 21.5 21.6 21.7 21.8
Kazakhstan 0.5 0.5 0.5 0.5 0.5 0.5
Kyrgyzstan 0.05 0.05 0.04 0.04 0.04 0.03
Macau 0.03 0.02 0.02 0.02 0.02 0.02
Malaysia 0.3 0.2 0.2 0.2 0.2 0.2
Myanmar - - - - - -
New Zealand 0.8 0.7 0.8 0.7 0.8 0.7
Pakistan 0.2 0.2 0.2 0.2 0.2 0.2
Philippines 0.7 0.7 0.6 0.6 0.6 0.5
Singapore 1.1 1.0 1.0 0.9 0.9 0.9
South Korea 0.2 0.2 0.2 0.2 0.2 0.2
Sri Lanka 0.02 0.02 0.02 0.02 0.02 0.02
Taiwan 0.03 0.03 0.03 0.03 0.03 0.03
Thailand 0.04 0.05 0.05 0.05 0.05 0.05
Turkmenistan 0.1 0.1 0.1 0.1 0.1 0.1
Uzbekistan 0.9 0.9 0.9 0.9 0.9 0.9
Vietnam 0.1 0.1 0.1 0.1 0.1 0.1

110
Appendix

Category Growth Analysis, by Country – Morning Goods (Million Kg)

Country 2019 2020 2021 2022 2023 2024

Armenia 0.5 0.5 0.5 0.5 0.4 0.4
Australia 87.1 86.8 86.8 86.7 86.7 86.7
Azerbaijan 2.0 2.0 2.0 2.0 2.0 2.0
Bangladesh 9.6 9.7 9.9 10.1 10.2 10.3
China 576.0 565.7 558.1 547.0 534.8 521.5
Georgia 4.1 3.9 3.8 3.7 3.6 3.5
Hong Kong 2.7 2.7 2.7 2.6 2.6 2.6
India 37.7 39.8 40.3 40.8 41.3 41.5
Indonesia 94.1 93.9 93.8 93.3 92.5 91.1
Japan 298.6 290.8 286.5 282.0 277.7 273.1
Kazakhstan 23.4 22.6 22.1 21.5 20.9 20.4
Kyrgyzstan 3.2 3.1 2.9 2.8 2.7 2.6
Macau 0.2 0.2 0.2 0.2 0.2 0.2
Malaysia 1.4 1.4 1.4 1.3 1.3 1.3
Myanmar 1.4 1.4 1.5 1.5 1.5 1.5
New Zealand 51.4 49.6 50.0 50.0 50.0 50.0
Pakistan 10.7 10.2 10.0 9.8 9.6 9.4
Philippines 2.2 2.1 2.0 2.0 1.9 1.8
Singapore 2.7 2.7 2.6 2.6 2.6 2.5
South Korea 53.5 53.6 53.0 52.2 51.4 50.6
Sri Lanka 0.2 0.2 0.2 0.2 0.2 0.3
Taiwan 37.5 36.5 35.8 35.1 34.4 33.7
Thailand 13.9 14.2 14.8 15.3 16.0 16.5
Turkmenistan 4.0 4.0 4.0 4.0 4.0 4.0
Uzbekistan 43.7 43.7 43.7 43.7 43.7 43.7
Vietnam 2.5 2.5 2.5 2.5 2.5 2.5

111
Appendix

Category Growth Analysis, by Country – Savory Biscuits (Million Kg)

Country 2019 2020 2021 2022 2023 2024

Armenia 0.5 0.4 0.4 0.4 0.4 0.4
Australia 41.1 41.8 42.8 43.9 44.8 45.8
Azerbaijan 3.4 3.3 3.3 3.2 3.1 3.0
Bangladesh 11.3 11.4 11.4 11.5 11.5 11.4
China 458.2 422.4 405.0 386.9 368.4 349.9
Georgia 0.9 0.9 0.9 0.9 0.9 0.9
Hong Kong 6.6 6.4 6.3 6.2 6.1 6.1
India 345.4 366.8 387.7 407.7 427.0 446.2
Indonesia 188.6 183.9 179.4 174.1 168.5 162.1
Japan 34.6 34.0 34.8 35.6 36.4 37.2
Kazakhstan 7.3 7.8 8.0 8.1 8.3 8.4
Kyrgyzstan 0.9 0.9 0.9 0.9 0.9 0.9
Macau 0.6 0.6 0.6 0.6 0.6 0.6
Malaysia 35.1 35.1 35.2 35.3 35.4 35.4
Myanmar 6.0 6.0 6.1 6.1 6.1 6.1
New Zealand 11.1 10.8 11.0 11.0 11.0 11.0
Pakistan 19.5 18.6 18.4 18.2 18.0 17.7
Philippines 17.5 16.5 16.3 15.9 15.6 15.2
Singapore 8.3 8.5 8.4 8.3 8.1 8.0
South Korea 11.4 11.3 11.2 11.0 10.8 10.7
Sri Lanka 10.5 11.2 12.3 13.0 13.6 14.3
Taiwan 9.8 9.4 9.0 8.6 8.2 7.9
Thailand 7.9 7.9 7.9 7.9 8.0 7.9
Turkmenistan 1.4 1.4 1.4 1.4 1.4 1.4
Uzbekistan 13.8 13.8 13.8 13.8 13.8 13.8
Vietnam 17.8 17.8 17.8 17.8 17.8 17.8

112
Appendix

Global – Brands vs. Private Label Value (2019, US$ Million)

Category Private Label Brands

Baking Ingredients 632.2 9,658.3

Baking Mixes 603.7 11,244.0

Bread & Rolls 19,792.9 1,93,678.9

Breakfast Cereals 2,698.1 31,439.2

Cakes, Pastries & Sweet Pies 13,586.4 1,32,968.9

Cereal Bars 640.4 8,932.3

Cookies (Sweet Biscuits) 6,638.8 64,614.6

Dough Products 1,255.2 12,022.8

Energy Bars 537.3 7,399.2

Morning Goods 7,785.3 44,603.3

Savory Biscuits 1,535.1 25,699.8

113
Appendix

Asia-Pacific – Brands vs. Private Label Value (2019, US$ Million)

Category Private Label Brands

Baking Ingredients 52.4 1,609.2

Baking Mixes 137.8 3,429.4

Bread & Rolls 1,411.8 20,520.0

Breakfast Cereals 231.7 6,120.8

Cakes, Pastries & Sweet Pies 6,511.4 54,859.2

Cereal Bars 23.3 1,410.9

Cookies (Sweet Biscuits) 400.1 20,891.8

Dough Products 223.5 3,270.4

Energy Bars 3.2 1,129.8

Morning Goods 95.9 7,403.9

Savory Biscuits 98.1 8,436.7

114
Appendix

Asia-Pacific – Brands vs. Private Label Value, by Country (2019, US$ Million)

Country Private Label Brands

Armenia 35.4 244.9
Australia 888.6 6,658.3
Azerbaijan - 836.9
Bangladesh 7.0 926.2
China 6,337.2 62,242.6
Georgia - 663.5
Hong Kong 40.8 868.6
India 120.0 7,718.1
Indonesia 371.9 4,206.2
Japan 773.0 24,676.9
Kazakhstan - 1,494.8
Kyrgyzstan - 213.0
Macau 5.0 76.3
Malaysia 23.6 1,060.5
Myanmar - 397.7
New Zealand 172.8 1,604.3
Pakistan - 1,063.9
Philippines 0.03 1,706.2
Singapore 33.4 694.5
South Korea 40.7 3,969.8
Sri Lanka 1.2 360.2
Taiwan 205.4 1,378.2
Thailand 39.8 1,412.8
Turkmenistan 93.3 558.0
Uzbekistan - 2,121.3
Vietnam - 1,928.4

115
Appendix

Asia-Pacific value sales, bakery & cereals (2019, US$ Million) Asia-Pacific value sales, bakery & cereals (2019, US$ Million)
Baking Ingredients Baking Ingredients (continued)
Brand (trademark owner) Value Brand (trademark owner) Value
Aikoku (Aikou) 107.1 Van Houten (The Hershey Co) 4.6
Meidi0Ya (Meidi0Ya Singapore Co (Pte) Ltd.) 44.5 Chung Jung Won (Daesang) 4.4
Boga (Pt Sangra Ratu Boga) 44.3 Saf Levure (Le Saffre) 4.0
Angel Yeast (AngelYeast Co.,Ltd) 22.3 Junfa (Zhengzhou Junfa Fermentation Technology Co., Ltd.) 3.8
Baker`s Choice (Nestlé SA) 21.1 Sun Valley (Sun Valley Foods) 3.7
Nona (Torto Food Industries (M) Sdn Bhd) 11.2 Bendico (PT Gandum Mas Kencana) 3.7
Delfi (Petra Foods Limited.) 10.6 Edmonds (Goodman Fielder) 3.5
Windmolen (PT General Food industries) 10.5 Mauripan (AB Mauri) 3.5
Cadbury (Mondelez International, Inc) 10.1 Royalty Icing (Royalty Icing) 3.5
Kijang (Spicon Products Sdn Bhd) 9.3 White Wings (Goodman Fielder) 3.5
Clabber Girl (B&G Foods, Inc.) 8.7 Taikoo (Tai Koo Trading) 3.4
Q.One (Samyang Genex Corp.) 8.7 Pan Tang (Pantang Foodstuff Co., Ltd.) 3.2
Star Brand (Ppb Group) 7.9 Rumford (The Rumford Baking Powder Company) 3.1
Weikfield (Weikfield Products Co. (I) Pvt. Ltd.) 6.8 Ruf (Ruf Lebensmittelwerk Kg.) 3.0
Gandum Mas Kencana 0 Overall (PT Gandum Mas Kencana) 6.7 Prima (Prima Food Pte Ltd) 3.0
Bake King (Gim Hin Lee Pte Ltd) 5.9 Sis (Sis`88 Pte Ltd) 2.9
Q.B.B. (Qbb Pte Ltd) 5.4 Pillsbury (General Mills, Inc.) 2.6
Zhongyuan (Zhengzhou Junfa Fermentation Technology Co., Ltd.) 5.3 Essential Everyday (SUPERVALU INC) 2.5
Arm & Hammer (Church & Dwight Co., Inc.) 5.1 Kangaroo (Kam Wah Rich Flour Ltd.) 1.8
Champion (Nisshin Seifun Group Inc) 5.1 Orgran (Aussie Health Products) 1.7
Dr.Oetker (Dr. August Oetker Kg) 5.0 Home Baking (Home Baking) 1.5
Hershey`s 0 Overall (The Hershey Co) 4.8 Dr. Oetker 0 Overall (Dr. August Oetker Kg) 1.4
Hershey`s (The Hershey Co) 4.7 Chabrior (Intermarché) 1.4
116
Appendix

Asia-Pacific value sales, bakery & cereals (2019, US$ Million) Asia-Pacific value sales, bakery & cereals (2019, US$ Million)
Baking Ingredients(continued) Baking Ingredients (continued)
Brand (trademark owner) Value Brand (trademark owner) Value
Rich`s (Rich Products Corporation) 1.4 Ilgim ( İlğım MMC) 0.3
Sun right (Sunright Foods Corporation) 1.4 Hershey's (The Hershey Co) 0.3
Royal Baking (Mondelez International, Inc) 1.3 Imperial (Kim Chua Group Co., Ltd.) 0.2
Dr. Oetker (Dr. August Oetker Kg) 1.1 Dos Konfi (DOS ltd.) 0.2
Rossmoor (Rossmoor Food Products) 1.0 Queen (Quuens Fine Foods) 0.2
Ceres (Ceres Enterprises Ltd) 1.0 Tipiak (Tipiak Group) 0.2
American Roses (Lam Soon Group) 1.0 Emilia (Zaini) 0.2
Ferna (Ferna Corporation) 0.8 Kent (Kent) 0.2
Mother Choice (Mother Choice) 0.8 Foster Clark's (Foster Clark Products Limited) 0.2
Betty Crocker (General Mills, Inc.) 0.8 Progresso (General Mills, Inc.) 0.2
Bintang (Hock Xeng Sdn Bhd) 0.7 Cocoa (The Hershey Co) 0.2
Saray (Saray Biskuvi ve Gida San. A.S.) 0.5 Coda (Coda) 0.1
Jell0O (Mondelez International, Inc) 0.5 Nestlé (Nestlé SA) 0.1
Gold Medal (General Mills, Inc.) 0.5 Bekmaya (Bekmaya) 0.1
Best yet (Best yet) 0.5 Eating Pure (Eating Pure) 0.1
Preston (Preston Oils Ltd.) 0.5 Cake Mate (Signature Brands, LLC) 0.1
Pripravych (Proxima) 0.5 Prince (Prince Food Products Ltd.) 0.1
Schär (Dr Schar AG) 0.4 Maranic ( Maranik LLC ) 0.1
Silver Bird (The Silver Bird Group) 0.4 ZELATYNA (Cykoria S.A.) 0.1
Rakhat (Lotte Co., Ltd.) 0.4 Zolotoe (Zolotoe) 0.1
Bread Garden (Bread Garden) 0.3 Kingsford's (Ach Food Companies, Inc.) 0.1
Hintz (Hintz Foodstuff Production Gmbh) 0.3 Motha (Motha Confectionery Works (Pvt) Ltd) 0.1
Sto pudov (Sto pudov) 0.3 Shibaba (Shiva Manufacturing ) 0.1
117
Appendix

Asia-Pacific value sales, bakery & cereals (2019, US$ Million)

Baking Ingredients (continued)
Brand (trademark owner) Value
Mauri (AB Mauri) 0.1
Angel (AngelYeast Co.,Ltd) 0.1
Cao0momeht (Cao0momeht) 0.1
Valrhona ( Valrhona Inc.) 0.1
Afia (Afia) 0.1
Domo (MEPTICO & Co. Ltd) 0.1
Private Label 52.4
Others 1,148.2

118
Appendix

Asia-Pacific value sales, bakery & cereals (2019, US$ Million) Asia-Pacific value sales, bakery & cereals (2019, US$ Million)
Baking Mixes Baking Mixes (continued)
Brand (trademark owner) Value Brand (trademark owner) Value
Betty Crocker (General Mills, Inc.) 430.1 Gits (Gits Food Products Pvt. Ltd.) 4.8
Dr. Oetker 0 Overall (Dr. August Oetker Kg) 199.1 Madame Loulou (Rue Flambée Italia s.r.l.) 4.4
White Wings (Goodman Fielder) 128.4 Ruf (Ruf Lebensmittelwerk Kg.) 3.6
Pondan (Pt. Pondan Pangan Makmur Indonesia) 58.4 Sto pudov (Sto pudov) 3.2
Morinaga (Morinaga & Co., Ltd.) 56.2 Dr. Oetker (Dr. August Oetker Kg) 3.0
Okashi Hyakka (Nissin Food Holdings Co., LTD) 31.6 Orgran (Roma Foods) 2.8
Chung Jung Won (Daesang) 22.6 Bisquick (General Mills, Inc.) 2.5
Green`s (Baking Mixes) (Green`s General Foods Pty Ltd) 22.2 Sun right (Sunright Foods Corporation) 2.4
Orgran (Baking Mixes) (Aussie Health Products) 16.8 Nisshin (Nisshin Seifun Group Inc) 1.8
Q.One (Samyang Genex Corp.) 16.5 Maya (Liberty Commodities Corp) 1.8
Nona (Torto Food Industries (M) Sdn Bhd) 16.1 Kenton (Sultanlar Grup) 1.4
Edmonds (Goodman Fielder) 15.9 Gregg`s (Cerebos Pacific Limited) 1.3
Pillsbury (General Mills, Inc.) 15.2 Dr. Oetker 0 Overall (Dr. August Oetker Kg) 1.0
Lighthouse (Baking Mixes) (Anchor Foods International Ltd.) 14.6 Rafhan (Unilever) 0.7
Healthy Baker (Manildra Group) 13.8 Foster Clark's (Foster Clark Products Limited) 0.5
Basco (Green`s General Foods Pty Ltd) 10.0 Maya (Azərmaya ASC) 0.5
Ottogi (Ottogi Co, Ltd.) 9.3 Pran (Pran Group) 0.4
Laucke (Laucke Flour Mills) 8.7 White King (Rfm Corporation) 0.3
Bakels (Bakels Group) 6.9 Radhuni (SQUARE Food & Beverage Ltd.) 0.3
Healtheries (Vitaco Holdings Limited) 6.0 Haas (Ed. Haas Austria GmbH) 0.3
Hansells (Hansells (NZ)) 5.4 Preston (Arikon Group, Inc) 0.3
Dr.Oetker (Dr. August Oetker Kg) 5.3 Kent (BAYRAK GIDA A.S.) 0.3
HlebBurg (HlebBurg) 4.8 Bombbar (BombBar) 0.2
119
Appendix

Asia-Pacific value sales, bakery & cereals (2019, US$ Million)

Baking Mixes (continued)
Brand (trademark owner) Value
National (National Foods Limited) 0.2
Imperial (Kim Chua Group Co., Ltd.) 0.2
Bob`s Red Mill (Bob's Red Mill Natural Foods.) 0.2
Elah (Elah Dufour SpA) 0.2
Arrowhead Mills (The Hain Celestial Group Inc) 0.1
Cykoria (Cykoria S.A.) 0.1
Ahmed (Ahmed Foods Pvt. Ltd) 0.1
Kathi (Kathi Rainer Thiele Gmbh) 0.1
Golden Statue (Lam Soon Group) 0.1
Private Label 137.8
Others 2,276.3

120
Appendix

Asia-Pacific value sales, bakery & cereals (2019, US$ Million) Asia-Pacific value sales, bakery & cereals (2019, US$ Million)
Bread & Rolls Bread & Rolls (continued)
Brand (trademark owner) Value Brand (trademark owner) Value
Yamazaki (Yamazaki Baking Co., Ltd.) 568.0 Sharon (PT. Sharon Bakery Bandung) 70.1
Pasco (Pasco Shikishima Corporation) 278.4 Mission (GRUMA,S.A.B. de C.V.) 70.1
Gardenia (QAF Limited) 266.8 La Famiglia (Goodman Fielder) 65.2
Wonder White (Goodman Fielder) 227.2 Modern (Modern Food Industries Pvt. Ltd.) 63.6
Shany (Spc Group) 226.6 Le Pan (C.P. Retailing And Marketing Co., Ltd.) 63.4
Helga`s (Goodman Fielder) 189.7 Astykzhan (Astykzhan CT TOO) 61.4
Fuji (Fuji Baking Group) 181.5 Nilgiri`s (Future Group) 59.4
Garden (The Garden Company Limited) 178.0 Delicia (QAF Limited) 58.5
Britannia (Britannia) 174.3 Lotte (Lotte Co., Ltd.) 58.5
Sunblest (Associated British Foods Plc) 171.6 Duc Phat (Duc Phat Bakery ) 57.7
Kinh Do (Mondelez International, Inc) 155.7 Mighty Soft (Goodman Fielder) 56.2
Farm House (Bread & Rolls) (President`s Bakery Limited) 134.9 Sunshine Bakeries (Auric Pacific Group Limited) 56.2
Almatinsky (Aksai Nan Gmbh) 131.2 Bimbo (Grupo Bimbo, S.A.B. de C.V.) 55.3
Takaki Bakery (Andersen Co Ltd) 114.1 Nezhnost (Hamle Co TOO) 52.6
Sari Roti (Pt. Nippon Indosari Corpindo Tbk) 111.4 Vitalnan (Almatynan Group of Companies) 49.7
Abbott`s Village Bakery (Associated British Foods Plc) 110.4 Paris Baguette (Spc Group) 49.2
Toly (Shenyuang Toly Bread Co Ltd) 97.3 Dawn (Dawn Group of Companies) 47.5
Samlip (Spc Group) 84.7 Baker House (Baker House) 45.7
Burgen (Associated British Foods Plc) 84.3 Toastem (QAF Limited) 45.6
Puri (Puri Ltd) 82.9 Corek N1 (Gilan Xezri TN MMC ) 43.8
Gongyifu (Beijing Ershang Gongyifu Food Co., Ltd.) 79.8 D0Plus (D0Plus (Beijing) Food Co., Ltd.) 41.7
9 Grain (Associated British Foods Plc) 79.0 Huu Nghi (Huu Nghi Food JSC) 41.4
Tip Top 0 Others (Associated British Foods Plc) 73.5 All Time (Pran Group) 40.3
121
Appendix

Asia-Pacific value sales, bakery & cereals (2019, US$ Million) Asia-Pacific value sales, bakery & cereals (2019, US$ Million)
Bread & Rolls (continued) Bread & Rolls (continued)
Brand (trademark owner) Value Brand (trademark owner) Value
Molenberg (Goodman Fielder) 38.6 Quality Bakers (Goodman Fielder) 18.3
Mestemacher (Mestemarcher GmbH) 38.2 Shokutaku Roll (Yamazaki Baking Co., Ltd.) 17.8
Baker (Vaga Ltd) 37.4 Wattle Valley (Menora Foods) 17.7
Lawson`straditional (Goodman Fielder) 35.4 Tip Top (Associated British Foods Plc) 17.0
Country Life Bakery (Goodman Fielder) 34.9 La Fournee Doree (La Fournee Doree) 16.9
Vogel`s (Goodman Fielder) 33.8 Hai Chau (Hai Chau Confectionary JSC) 16.9
ABC (ABC) 33.2 Ploughman`s (Associated British Foods Plc) 16.4
Bakerland (Bakerland) 32.2 Çörəkçi (Delta Qrup C.O) 16.2
Honjikomi (Fuji Baking Group) 29.1 Breadboards Well Goods (Avrora Ltd ) 15.2
Lunch Pack (Yamazaki Baking Co., Ltd.) 28.9 Lifestyle Bakery (Lifestyle Bakery Pty Ltd) 14.8
Massimo (FFM Berhad) 28.2 Fluffy Buns (QAF Limited) 13.4
Double Soft (Yamazaki Baking Co., Ltd.) 28.0 Bill`s Organic Bread (Bill`s Certified Organic Health) 13.1
Bunny's (Bunny's Limited) 27.4 Xirman (Xirman Ltd) 13.1
Prichuda (Bolshevik KF OAO) 26.4 Finagle (Finagle Lanka (Pvt) Ltd) 12.1
Ruletto (Hamle Co TOO) 26.3 Bonjour (QAF Limited) 11.4
Harry`s (Barilla Holding S.p.A.) 25.0 Hekkhble (Hekkhble) 11.4
Bao Ngoc (BAO NGOC PRODUCTION INVESTMENT JOINT STOCK Tamara (Tamara LLC) 11.3
25.0
COMPANY) I0Mei (Imei Foods Co) 11.1
English Oven (Mrs. Bector`s) 22.6 Bazaar (Associated British Foods Plc) 10.9
Freya`s (Goodman Fielder) 21.8 Chou Houjun (Yamazaki Baking Co., Ltd.) 10.0
A+ (C&W Interfoods Co Ltd) 19.3 High 5 (High5 Bread Town) 9.9
Harrys (Harrys SNG) 19.0 Prima (Prima Group) 9.3
Pan 0 A 0 Cup (Pan 0 A 0 Cup) 18.7 Garden (Myanmar Mayson Industries Co.,Ltd.) 8.8
Funwari Shokupan (Yamazaki Baking Co., Ltd.) 18.5
122
Appendix

Asia-Pacific value sales, bakery & cereals (2019, US$ Million) Asia-Pacific value sales, bakery & cereals (2019, US$ Million)
Bread & Rolls (continued) Bread & Rolls (continued)
Brand (trademark owner) Value Brand (trademark owner) Value
Joma (Joma Bakery) 8.5 Fu Wang (Fu0Wang Foods Ltd.) 1.7
Buttercup (Goodman Fielder) 8.1 Rotiraja (Swanish Boga Industria PT) 1.3
Natures Fresh (Goodman Fielder) 7.9 Riha Franzuskiy (Riha LLC) 1.2
Uni0President 0 Overall (Uni0President Enterprises Corp) 7.3 Griffin`s (The Griffin's food company) 1.1
Signature Range (Progressive Enterprises) 7.2 Patak's (Ab World Foods Ltd) 1.1
Good Morning (Myanmar Mayson Industries Co.,Ltd.) 7.0 Biona Organics (BIONA ) 0.8
Baton (Karavai Pjsc) 6.8 Bakeworks (Bakeworks Ltd) 0.8
Golden (Associated British Foods Plc) 6.4 Balconi (Balconi S.P.A) 0.8
Always Fresh (Riviana Foods Inc.) 6.3 Purebread (Paraoa Bakehouse) 0.6
Abe`s (Abe`s Bagel Bakery) 6.2 Bolletje (Bolletje Bv) 0.5
French Baker (The French Baker) 5.9 Country Fare (Country Fare) 0.4
Swanish (Swanish Boga Industria PT) 5.7 Artisanal Producers 10,058.2
Purebred (Cuisine Royale Mfg Ltd) 5.2 Arty (Icc International Public Company Limited) 1,411.8
Turkish Bread (Turkish Bread Ltd) 4.7 Others 4,316.7
Roman Meal (Roman Meal Company) 4.2
Top One (Auric Pacific Group Limited) 3.6
New York (Bread & Rolls) (T. Marzetti Company.) 3.4
Riha Kukuruzniy (Riha LLC) 2.9
Real Foods (Real Foods Pty Ltd) 2.8
Baker's Choice (Baker's Choice) 2.5
Baker`s Choice (Baker`s Choice) 2.4
Venerdi (Venerdi Ltd) 2.3
Imperial Banquet (Imperial Banquet) 2.0
123
Appendix

Asia-Pacific value sales, bakery & cereals (2019, US$ Million) Asia-Pacific value sales, bakery & cereals (2019, US$ Million)
Breakfast & Cereals Breakfast & Cereals (continued)
Brand (trademark owner) Value Brand (trademark owner) Value
Fauji Corn Flakes (Fauji Foundation) 16.2 Heritage Mill (Popina Food Services) 7.3
Nature`s Path (Nature`s Path Foods, Inc.) 16.0 Vilson (Vilson) 6.9
Zao Zaomai (Shanghai Tenwow Food Co Ltd) 15.7 Cocoa Zizi (Cereal Partners Worldwide S.A.) 6.7
Simba (Pt. Simba Indosnack Makmur) 14.9 Honey Bunches Of Oats (Post Holdings, Inc) 6.3
Rice Krispies (The Kellogg Company) 13.4 Kellogg's Special K (The Kellogg Company) 6.3
Freedom Foods (Freedom Foods Group Limited) 12.9 Uncle Toby`s (Cereal Partners Worldwide S.A.) 6.2
Quaker Oats (PepsiCo) 12.7 Energen (PT Mayora Indah) 6.1
Cisco Corn (Nissin Food Holdings Co., LTD) 12.3 Honey Bunches (Post Holdings, Inc) 6.1
Nestlé Fitness (Cereal Partners Worldwide S.A.) 11.9 Harraways (Harraways And Sons Ltd) 6.0
Sun0Sol (Sunsol & Select Harvests) 11.7 Cocoa Pebbles (Post Holdings, Inc) 5.6
Nestlé (Nestlé SA) 10.9 Nisshoku Corn Flake (Nihonshokuhin Ltd) 5.4
Koko Krunch Duo (Nestlé SA) 10.7 Be Natural (Be Natural Foods) 5.3
Volozhka (Volozhka) 10.7 Nestlé 0 Corn Flakes (Cereal Partners Worldwide S.A.) 5.3
Corn Flakes (The Kellogg Company) 9.5 Hahne (C. Hahne Mühlenwerke Gmbh & Co. Kg) 5.0
Kellogg's Coco pops (The Kellogg Company) 9.4 Koco Krunch Duo (Cereal Partners Worldwide S.A.) 4.6
Nestlé Gold (Cereal Partners Worldwide S.A.) 8.8 Mama (Thai President Foods Public Company Limited.) 4.5
Morning Sun (Cereal Partners Worldwide S.A.) 8.7 Barley Plus (Freedom Foods Group Limited) 4.4
Alpen (Post Holdings, Inc) 8.4 Fruity Pebbles (Post Holdings, Inc) 4.2
Kellogg's Corn falkes (The Kellogg Company) 8.4 Dr. Oetker (Dr. August Oetker Kg) 4.1
Fitness (Nestlé SA) 8.3 Greenmax (Mayushan Foods Co., Ltd) 4.1
Knorr (Unilever) 7.9 Pulmuone (Pulmuone Co.,ltd.) 4.1
Vogel`s (Goodman Fielder) 7.7 Seitenbacher (Seitenbacher Natural Foods Gmbh) 4.1
Captain Oats (Federal Oats Mills Sdn. Bhd) 7.7 Corn Flakes (Sajeeb Corporation) 3.9
124
Appendix

Asia-Pacific value sales, bakery & cereals (2019, US$ Million) Asia-Pacific value sales, bakery & cereals (2019, US$ Million)
Breakfast & Cereals (continued) Breakfast & Cereals (continued)
Brand (trademark owner) Value Brand (trademark owner) Value
Golden Oats (Golden Nutritious Foods Corporation) 3.9 Post (Post Holdings, Inc) 2.2
Kosmostars (Cereal Partners Worldwide S.A.) 3.7 Nestlé 0 Others (Nestlé SA) 2.1
Altaiskaya Skazka (Group Rosa) 3.7 Donae (Useful Food Co.,Ltd.) 2.0
Table Of Plenty (Table Of Plenty) 3.7 Bio Zentrale (Bio Zentrale Gmbh) 2.0
Abundent (Vitaco Holdings Limited) 3.6 Nestum (Cereal Partners Worldwide S.A.) 1.9
Honey Gold (Cereal Partners Worldwide S.A.) 3.3 Bystrov (Cereal Partners Worldwide S.A.) 1.8
Pure Harvest (Ceres Natural Foods Pty Ltd) 3.2 King Kung (King Kung Health Food co.,ltd.) 1.7
Arnold`s Farm Muesli (Popina Food Services) 3.2 Chocos (The Kellogg Company) 1.7
Benefit (Benefit) 3.1 Kez`s Free (Kez`s Kitchen) 1.6
Bohlsener (Bohlsener Mühle Gmbh & Co. Kg) 3.1 Nesquik (Cereal Partners Worldwide S.A.) 1.6
Norganic (Freedom Foods Group Limited) 3.0 De Halm (De Halm) 1.5
Waffle Crisp (Post Holdings, Inc) 3.0 AXA (Lantmännen Cerealia A / S) 1.4
Cookie Crisp (General Mills, Inc.) 2.8 Weight Watchers (Weight Watchers International, Inc.) 1.4
Oishi 0 Overall (Liwayway Holdings Company Limited) 2.8 Familia (Bio0Familia AG) 1.4
Envirokids (Ceres Enterprises Ltd) 2.7 Musli (Cereal Partners Worldwide S.A.) 1.3
Diamond Grains (Diamond Grains) 2.7 Bob`s Red Mill (Bob's Red Mill Natural Foods.) 1.3
Topp (Orient Foods Pte Ltd) 2.6 Start (Lantmännen Cerealia A / S) 1.3
Be Natural 0 Overall (Be Natural Foods) 2.6 Bob's Red Mill (Bob’s Red Mill Natural Foods.) 1.2
Fitnesse (Cereal Partners Worldwide S.A.) 2.5 Crispy Foods (A/S Crispy Food International) 1.2
Nestlé 0 Overall (Nestlé SA) 2.4 Dorset Cereals (Associated British Foods Plc) 1.2
Ceremix (Pt Kapal Api Global) 2.4 Ceres (Ceres Enterprises Ltd) 1.1
Makfa (Makfa Jsc) 2.3 Raisio 0 Overall (Racio S.R.O.,) 1.1
Britannia (Britannia) 2.2 Clusters (Nestlé SA) 1.1
125
Appendix

Asia-Pacific value sales, bakery & cereals (2019, US$ Million) Asia-Pacific value sales, bakery & cereals (2019, US$ Million)
Breakfast & Cereals (continued) Breakfast & Cereals (continued)
Brand (trademark owner) Value Brand (trademark owner) Value
Golden Oats (Golden Nutritious Foods Corporation) 3.9 Post (Post Holdings, Inc) 2.2
Kosmostars (Cereal Partners Worldwide S.A.) 3.7 Nestlé 0 Others (Nestlé SA) 2.1
Altaiskaya Skazka (Group Rosa) 3.7 Donae (Useful Food Co.,Ltd.) 2.0
Table Of Plenty (Table Of Plenty) 3.7 Bio Zentrale (Bio Zentrale Gmbh) 2.0
Abundent (Vitaco Holdings Limited) 3.6 Nestum (Cereal Partners Worldwide S.A.) 1.9
Honey Gold (Cereal Partners Worldwide S.A.) 3.3 Bystrov (Cereal Partners Worldwide S.A.) 1.8
Pure Harvest (Ceres Natural Foods Pty Ltd) 3.2 King Kung (King Kung Health Food co.,ltd.) 1.7
Arnold`s Farm Muesli (Popina Food Services) 3.2 Chocos (The Kellogg Company) 1.7
Benefit (Benefit) 3.1 Kez`s Free (Kez`s Kitchen) 1.6
Bohlsener (Bohlsener Mühle Gmbh & Co. Kg) 3.1 Nesquik (Cereal Partners Worldwide S.A.) 1.6
Norganic (Freedom Foods Group Limited) 3.0 De Halm (De Halm) 1.5
Waffle Crisp (Post Holdings, Inc) 3.0 AXA (Lantmännen Cerealia A / S) 1.4
Cookie Crisp (General Mills, Inc.) 2.8 Weight Watchers (Weight Watchers International, Inc.) 1.4
Oishi 0 Overall (Liwayway Holdings Company Limited) 2.8 Familia (Bio0Familia AG) 1.4
Envirokids (Ceres Enterprises Ltd) 2.7 Musli (Cereal Partners Worldwide S.A.) 1.3
Diamond Grains (Diamond Grains) 2.7 Bob`s Red Mill (Bob's Red Mill Natural Foods.) 1.3
Topp (Orient Foods Pte Ltd) 2.6 Start (Lantmännen Cerealia A / S) 1.3
Be Natural 0 Overall (Be Natural Foods) 2.6 Bob's Red Mill (Bob’s Red Mill Natural Foods.) 1.2
Fitnesse (Cereal Partners Worldwide S.A.) 2.5 Crispy Foods (A/S Crispy Food International) 1.2
Nestlé 0 Overall (Nestlé SA) 2.4 Dorset Cereals (Associated British Foods Plc) 1.2
Ceremix (Pt Kapal Api Global) 2.4 Ceres (Ceres Enterprises Ltd) 1.1
Makfa (Makfa Jsc) 2.3 Raisio 0 Overall (Racio S.R.O.,) 1.1
Britannia (Britannia) 2.2 Clusters (Nestlé SA) 1.1
126
Appendix

Asia-Pacific value sales, bakery & cereals (2019, US$ Million) Asia-Pacific value sales, bakery & cereals (2019, US$ Million)
Breakfast & Cereals (continued) Breakfast & Cereals (continued)
Brand (trademark owner) Value Brand (trademark owner) Value
Muesli (The Kellogg Company) 1.1 Bjorg (Sara Lee Corporation) 0.4
Tilos (Mulder Natural Foods N.V) 1.0 Nesquik (Nestlé SA) 0.4
Nutre Mill (Super Group Ltd) 1.0 Macro (Macro Organic) 0.4
Chocapic (Nestlé SA) 1.0 Ideal (Dongguan Humen Ri Long Food Factory) 0.3
Super Bubur (Super Bubur) 1.0 Pin Yuan (Foshan Sanshui En0Snow Foods Co., Ltd) 0.3
Vitamax (Tastyfood Industries (S) Pte Ltd) 1.0 Arrowhead Mills (The Hain Celestial Group Inc) 0.3
Kentaur (Kentaur GmbH) 1.0 Nestlé 0 Honey Stars (Cereal Partners Worldwide S.A.) 0.3
Nesquick (Cereal Partners Worldwide S.A.) 1.0 Diamond (Diamond Foods, Inc.) 0.3
Milo (Nestlé SA) 0.9 Zwicky (Schweizerische Schälmühle E. Zwicky AG) 0.3
Kellogg's All Bran (The Kellogg Company) 0.9 Nesquik DUO (Nestlé SA) 0.2
Kashka Minutka (Industrial Group kuntsevo) 0.8 Fair D (Fair D) 0.2
Khrumka (Cereal Partners Worldwide S.A.) 0.8 Sajo Fine(Chicky Ducky) (SAJO Group) 0.1
Healtheries (Vitaco Holdings Limited) 0.8 Gaba (Ezaki Glico co., Ltd) 0.1
Soyuzpishcheprom (Soyuzpischeprom Inc.) 0.7 7 zlakov (Agro0Alliance Holding) 0.1
OHO (OHO) 0.7 Xongrur (Xongrur) 0.1
Brüggen (H. & J. Brüggen Kg) 0.6 DiYes Plus (Diadar) 0.1
Snow Flakes (Cereal Partners Worldwide S.A.) 0.6 Nature's Own (O’Seeker Food Industries Sdn. Bhd.) 0.1
Nestlé 0 Others (Cereal Partners Worldwide S.A.) 0.5 Altay Skazka (Rosa) 0.1
Gold Flakes (Cereal Partners Worldwide S.A.) 0.5 N2n (N2n) 0.1
Cheer (Cheer Organic) 0.5 Dorset (Dorset Cereals Ltd) 0.1
Cini Minis (Nestlé SA) 0.4 Private Label 231.7
Nature's path (Nature's Path Foods.) 0.4 Others 1,594.5
Australia Harvest (KLG International Inc.) 0.4
127
Appendix

Asia-Pacific value sales, bakery & cereals (2019, US$ Million) Asia-Pacific value sales, bakery & cereals (2019, US$ Million)
Cakes, Pastries & Sweet Pies C9akes, Pastries & Sweet Pies (continued)
Brand (trademark owner) Value Brand (trademark owner) Value
Yamazaki (Yamazaki Baking Co., Ltd.) 2,081.0 I0Mei (Imei Foods Co) 48.5
Orion (Orion Confectionery Co, Ltd.) 1,149.9 Lunch Pack (Yamazaki Baking Co., Ltd.) 47.4
Cola Cao (Grupo Nutrexpa) 556.3 Baker House (Baker House) 47.4
Garden (The Garden Company Limited) 510.0 Chou Houjun (Yamazaki Baking Co., Ltd.) 47.1
Lotte (Lotte Co., Ltd.) 397.0 Dihani (Tsan Yu Yen Food Co., Ltd.) 42.4
Pasco (Pasco Shikishima Corporation) 388.2 Market O (Orion Confectionery Co, Ltd.) 42.4
Kobeya Kashipan (Kobeya Baking Co Ltd) 230.8 Gardenia (QAF Limited) 41.9
Sari Roti (Pt. Nippon Indosari Corpindo Tbk) 167.3 Delicia Soft Roll (QAF Limited) 40.8
Lu (Mondelez International, Inc) 149.8 Wonder (Pran Group) 40.4
Solite (Mondelez International, Inc) 137.4 Marby (Marby Food Ventures) 38.9
Mini Pan (Yamazaki Baking Co., Ltd.) 122.6 Almatinsky (Aksai Nan Gmbh) 38.1
Britannia (Britannia) 113.6 Switz (Switz Group) 35.2
Farm House (Cakes and Pastries) (President`s Bakery Limited) 108.9 Dong Khanh (Dong khanh Food Industrial Co Ltd) 34.5
Fuma (Fujian Fuma Food Co Ltd.) 103.0 T.K Food (Tk Food Co., Ltd.) 34.2
Euro (European Food Public Company Limited) 97.8 Dan Cake (Dan Cake A/S) 33.4
Goldilocks (Goldilocks) 76.6 Yashkino (Yashkino) 32.4
Bimbo (Grupo Bimbo, S.A.B. de C.V.) 73.8 S&P (S&P Syndicate Public Company Limited) 31.1
Orion (Orion Food Vina Co., Ltd) 70.8 Lemon Square 0 Overall (Big E Food Corporation) 25.6
Monginis (Monginis Foods Pvt Ltd) 59.6 Twiggies (QAF Limited) 24.2
Nhu lan bakery (Nhu lan bakery) 55.1 Top Taste (Associated British Foods Plc) 23.0
D0Plus (D0Plus (Beijing) Food Co., Ltd.) 52.9 Monica (Marizarasa Sarimurni, Pt) 21.2
Hura (Bien Hao Confectionary Corp) 52.7 Red Ribbon (Red Ribbon) 21.0
Oh Yes (Crown Confectionery Co., Ltd.) 52.4 Denish (Denish Food Products) 18.8
128
Appendix

Asia-Pacific value sales, bakery & cereals (2019, US$ Million) Asia-Pacific value sales, bakery & cereals (2019, US$ Million)
Cakes, Pastries & Sweet Pies (continued) Cakes, Pastries & Sweet Pies (continued)
Brand (trademark owner) Value Brand (trademark owner) Value
Regent (Regent Foods Corporation) 18.5 Monshell (Lotte Co., Ltd.) 4.1
Mills & Ware (Associated British Foods Plc) 13.6 Mini Keyk (Rebisco Group of Companies) 3.8
Ellse (European Food Public Company Limited) 10.7 Cupp Keyk (Rebisco Group of Companies) 3.8
Balconi (Balconi S.P.A) 10.7 Cake Jam (Rebisco Group of Companies) 3.7
Silver Bird (The Silver Bird Group) 10.6 Morisca (Marizarasa Sarimurni, Pt) 3.6
Soft Cake (Olympic Industries Limited) 10.3 Ulker (Yildiz Holding AS) 3.4
Mr Kipling (Premier Foods plc) 8.5 Goods Huat Hee (Goods Huat Hee Confectionary) 3.3
Fudgee Bar (Rebisco Group of Companies) 8.4 Good Goodies (UniFood Industries Limited) 2.9
London (London Biscuits Bhd) 8.4 Cake factory (The Cake factory) 2.9
Rosedale (Delmaine Fine Foods) 8.1 Fun (Advanced Chemical Industries Limited) 2.8
Dr. Oetker (Dr. August Oetker Kg) 8.0 Mars medium (VIVA Boutique de Patisserie) 2.8
Cake Up (Peek Freans) 7.9 Absheron (VIVA Boutique de Patisserie) 2.6
Aunt Betty`S (Hansells (NZ)) 7.7 Milka (New Hope Food Industries (P) Ltd) 2.5
Apollo (Apollo Food Holdings Bhd) 7.1 A+ (C&W Interfoods Co Ltd) 2.4
Sara Lee (Grupo Bimbo, S.A.B. de C.V.) 6.3 EuroCake (DOFREEZE LLC) 2.1
Susan Day (Susan Day Ltd Pty.) 6.1 Lifestyle Bakery (Lifestyle Bakery Pty Ltd) 2.0
Dawn (Dawn Group of Companies) 6.1 Delmaine (Delmaine Fine Foods) 1.9
Tiara (Ceylon Biscuits Ltd.) 5.9 Mariza (Marizarasa Sarimurni, Pt) 1.8
Massimo (FFM Berhad) 5.8 Munchee (Ceylon Biscuits Ltd.) 1.8
Vicenzi (Vicenzi Biscotti S.P.A.) 5.6 Little lion (Little Lion Associate (pvt) Ltd) 1.7
Bunny's (Bunny's Limited) 4.7 Estrella (M. Dias Branco S.A) 1.4
Ernest Adams (Goodman Fielder) 4.5 Tenkei (Tenkei) 1.4
Modern (Modern Food Industries Pvt. Ltd.) 4.2 Wattle Valley (Menora Foods) 1.3
129
Appendix

Asia-Pacific value sales, bakery & cereals (2019, US$ Million)

Cakes, Pastries & Sweet Pies (continued)
Brand (trademark owner) Value
Michigan (Michigan Pastries Sdn Bhd) 1.2
St Michel (St Michel Biscuits) 1.1
ALBERT MENES (Albert Ménès) 0.9
Choco Pie (European Food Public Company Limited) 0.9
Pavillion Foods (Pavillion Foods Ltd) 0.8
Russkiy Bisqvit (The Russian Biscuit Company) 0.7
Choco Pie (Orion Confectionery Co, Ltd.) 0.4
Walkers (PepsiCo) 0.3
Cheromushki (Cheromushki LLC) 0.2
Alenka (United Confectioners) 0.2
Roshen (Roshen Confectionery Corporation) 0.1
Milka (Mondelez International, Inc) 0.1
Barni (Mondelez International, Inc) 0.1
Bakeworks (Bakeworks Ltd) 0.1
Konti (Konti Group) 0.1
Artisanal Producers 37,706.0
Private Label 6,511.4
Others 9,280.9

130
Appendix

Asia-Pacific value sales, bakery & cereals (2019, US$ Million) Asia-Pacific value sales, bakery & cereals (2019, US$ Million)
Cereal Bars Cereal Bars (continued)
Brand (trademark owner) Value Brand (trademark owner) Value
Balance Up (Asahi Group Holdings, Ltd.) 289.3 Xongdur (Xongdur Thai Organic Food Co.,Ltd.) 1.8
Uncle Toby`s (Cereal Partners Worldwide S.A.) 54.2 Corny (Hero Group) 1.7
Calbee (Calbee, Inc.) 44.6 Weetabix (Post Holdings, Inc) 1.6
Glico (Ezaki Glico co., Ltd) 30.7 Nestlé (Nestlé SA) 1.3
Nature Valley (General Mills, Inc.) 30.7 Fitbar (Kalbe International) 1.2
Cereal Partners 0 Overall (Cereal Partners Worldwide S.A.) 25.8 YogaBar (Sproutlife Foods Private Limited) 1.0
Carman`s (Carman`s Fine Foods Pty Ltd) 25.2 Kind Plus (King Llc) 1.0
Be Natural 0 Overall (Be Natural Foods) 23.4 Nature`s Path (Nature`s Path Foods, Inc.) 0.8
Quaker (PepsiCo) 18.3 Nutribar (Nutribar) 0.7
Weight Watchers (Weight Watchers International, Inc.) 17.0 Frosties (The Kellogg Company) 0.4
Ritebite (Naturell (India) Pvt. Ltd.) 14.8 AXA (Lantmännen Cerealia A / S) 0.4
Alpen (Post Holdings, Inc) 9.4 Kellogg's 0 Others (The Kellogg Company) 0.3
Kellogg`s 0 Overall (The Kellogg Company) 8.5 Fitness (Nestlé SA) 0.3
Yogood (Pristine) 7.3 Cini Minis (Nestlé SA) 0.3
Special K (The Kellogg Company) 5.4 Good mix (Cereal Partners Worldwide S.A.) 0.2
Freedom Foods (Freedom Foods Group Limited) 4.6 Chewy (Cereal Bars) (PepsiCo) 0.2
Nestlé 0 Koko crunch (Cereal Partners Worldwide S.A.) 4.3 Cerealitalia (Cerealitalia Cioccolato e cereail) 0.2
Nutri0Grain (The Kellogg Company) 3.6 Private Label 23.3
Brunch (Mondelez International, Inc) 3.4 Others 767.2
Milo (Cereal Partners Worldwide S.A.) 2.9
Oh my goodness (Yum Bros Food Company) 2.8
Kashi (The Kellogg Company) 2.3
Soy Joy (Vv Group) 2.1
131
Appendix

Asia-Pacific value sales, bakery & cereals (2019, US$ Million) Asia-Pacific value sales, bakery & cereals (2019, US$ Million)
Cookies (Sweet Biscuits) Cookies (Sweet Biscuits) (continued)
Brand (trademark owner) Value Brand (trademark owner) Value
Oreo (Mondelez International, Inc) 1,516.4 Arnott`s 0 Others (Campbells Soup Company) 162.5
Parle G (Parle Products Pvt Ltd) 773.6 Hide & Seek (Parle Products Pvt Ltd) 157.1
Pocky (Ezaki Glico co., Ltd) 577.8 Biskuat (Mondelez International, Inc) 148.3
Danisa (Danish Speciality Foods ApS) 426.8 Milk Bikis (Britannia) 135.2
Good Day (Britannia) 426.3 Anmol 0 Overall (Anmol Biscuits Ltd) 129.3
Sunfeast (Itc Limited) 387.7 Paradise (Green`s General Foods Pty Ltd) 122.0
Nutri Choice (Britannia) 281.6 Ritz (Mondelez International, Inc) 117.6
Roma (PT Mayora Indah) 269.5 Prince (Mondelez International, Inc) 116.2
Master Kong (Tingyi Holding Corp) 251.2 Collon (Ezaki Glico co., Ltd) 108.9
Bourbon (Bourbon Corporation Japan.) 246.4 Monde (Khong Guan Biscuit Factory (S) Pte Ltd) 100.0
Jiashili (Guangdong Jiashili Food Group Co., Ltd.) 232.0 Nabati (PT Kaldu Sari Nabati Indonesia) 94.4
Hsu0Fu0Chi (Nestlé SA) 224.0 Mr. Ito (Ito Biscuits Co.,Ltd) 93.4
Marie Gold (Britannia) 222.7 Tango (Orang Tua Group) 91.7
Priya Gold (Surya Foods) 214.6 Sooper (English Biscuit Manufacturers (Pvt) Ltd) 91.0
Nestlé 0 Others (Nestlé SA) 212.3 Marie (Parle Agro) (Parle Products Pvt Ltd) 90.3
Tiger (Britannia) 207.7 Cosy (Mondelez International, Inc) 86.1
Khong Guan (Khong Guan Biscuit Factory (S) Pte Ltd) 199.2 Market O (Orion Confectionery Co, Ltd.) 85.9
Kjeldsens (Campbells Soup Company) 193.4 Bourbon (Britannia) 84.7
Haitai (Haitai Confectionery & Foods Co., Ltd) 176.6 Gery (Tudung Group) 82.2
Olympic (Olympic Industries Limited) 175.3 Pepero (Lotte Co., Ltd.) 80.0
Country Ma`Am (Fujiya) 172.2 Orion (Orion Confectionery Co, Ltd.) 74.4
Parle 0 Others (Parle Products Pvt Ltd) 170.5 Magic Creams (JG Summit Holdings Inc.) 74.3
Tim Tam (Campbells Soup Company) 165.8 Munchee (Ceylon Biscuits Ltd.) 74.3
132
Appendix

Asia-Pacific value sales, bakery & cereals (2019, US$ Million) Asia-Pacific value sales, bakery & cereals (2019, US$ Million)
Cookies (Sweet Biscuits) (continued) Cookies (Sweet Biscuits) (continued)
Brand (trademark owner) Value Brand (trademark owner) Value
Nissin (PT. Nissin Biscuit Indonesia) 71.9 Marie Regal (Wijaya Abadi PT) 44.0
Chips Ahoy! (Mondelez International, Inc) 67.9 Marie (Morinaga & Co., Ltd.) 42.9
Garden (The Garden Company Limited) 64.8 Loacker (A. Loacker Ag) 42.7
McVitie’s (Yildiz Holding AS) 63.6 Horlicks (GlaxoSmithKline) 41.8
Voice (Monde Nissin) 62.6 Little Hearts (Britannia) 41.7
Jack `N Jill (JG Summit Holdings Inc.) 62.1 Alfort (Bourbon Corporation Japan.) 41.5
Al0Amin (Al0Amin Group) 59.3 Artisanal Producers (Artisanal Producers) 40.5
Peanut Butter Sandwich (Rebisco Group of Companies) 57.3 Smart Body Diet Biscuit (Meiji Holdings Co Ltd) 40.5
Crown 0 Overall (Crown Confectionery Co., Ltd.) 55.8 Pran (Pran Group) 39.9
Cadbury (Mondelez International, Inc) 55.4 Arnott`s 0 Overall (Campbells Soup Company) 39.1
Mondelez 0 Overall (Mondelez International, Inc) 54.5 Kabaya (Kabaya Food Corporation) 38.7
Mcvitie`s Digestive (Yildiz Holding AS) 54.2 Arnott`s (Campbells Soup Company) 38.0
Pure Magic (Britannia) 54.1 Tiny Teddy (Cookies (Sweet Biscuits)) (Campbells Soup Company) 38.0
Rio (English Biscuit Manufacturers (Pvt) Ltd) 53.8 Lacta (Mondelez International, Inc) 37.5
Better (PT Mayora Indah) 53.8 VIEIRA DE CASTRO (Vieira De Castro Produtos Alimentares Sa) 36.5
Griffin`s (The Griffin's food company) 51.1 Gerble (Otsuka Group) 35.5
Astor (PT Mayora Indah) 47.2 Koala No March (Lotte Co., Ltd.) 35.2
Jam Delight (English Biscuit Manufacturers (Pvt) Ltd) 46.3 Choice (Morinaga & Co., Ltd.) 35.0
Morinaga (Morinaga & Co., Ltd.) 46.3 Assorted Creams (Campbells Soup Company) 34.3
Selamat (Selamat Biscuit Industries Pt) 46.0 Maliban (Maliban) 33.9
Haochidian (Fujian Dali Group) 45.7 Tiger (Mondelez International, Inc) 33.8
Choco Rio (Rebisco Group of Companies) 45.2 Good Time (Campbells Soup Company) 33.8
Diget (Orion Confectionery Co, Ltd.) 44.1 Moonlight (Morinaga & Co., Ltd.) 32.5
133
Appendix

Asia-Pacific value sales, bakery & cereals (2019, US$ Million) Asia-Pacific value sales, bakery & cereals (2019, US$ Million)
Cookies (Sweet Biscuits) (continued) Cookies (Sweet Biscuits) (continued)
Brand (trademark owner) Value Brand (trademark owner) Value
Fibisco (Fibisco) 32.2 Unibic (Unibic biscuits india pvt ltd) 24.5
Slai O`lai (PT Mayora Indah) 31.4 Dr You (Orion Confectionery Co, Ltd.) 24.3
Choco Mania Cookies (Konimex Pharmaceutical Laboratories PT) 30.2 Bakeri (Mondelez International, Inc) 23.9
Ito Biscuits (Ito Biscuits Co.,Ltd) 30.1 Goute (Orion Food Vina Co., Ltd) 23.8
Danesita (Dan Cake A/S) 29.6 Scotch Finger (Campbells Soup Company) 23.7
Toppo (Lotte Co., Ltd.) 29.5 Pejoy (Ezaki Glico co., Ltd) 23.4
Lotte 0 Others (Lotte Co., Ltd.) 29.4 Biskrem Ulker (Yildiz Holding AS) 23.2
Dukes (Ravi Foods Pvt Limited. Inc) 29.3 Huamei (Dongguan Huamei Food Co.,Ltd.) 22.8
Gosomi (Orion Confectionery Co, Ltd.) 28.8 I0Mei (Imei Foods Co) 21.9
Bisco (Ezaki Glico co., Ltd) 28.7 Bisvit (Kaldu Sari Nabati Indonesia PT) 21.5
Choco Chips (Voortman Cookies Ltd) 28.6 Chips Delight (Grand Alphatech International Corporation) 21.4
Mint Slice (Campbells Soup Company) 28.4 Elise (Bourbon Corporation Japan.) 21.0
Kinoko No Yama (Meiji Holdings Co Ltd) 28.4 Zeera plus (Mondelez International, Inc) 21.0
Weight Watchers (Weight Watchers International, Inc.) 27.9 Yashkino (Yashkino) 20.9
Chic Choc (Petra Foods Limited.) 27.3 Hai ha (HaiHa Confectionery Joint 0 Stock Company) 20.9
Goody (Bassamh Marketing Co Ltd) 27.1 Munchy`s 0 Overall (Munchy Food Industries Sdn Bhd) 20.7
Nice Time (Britannia) 26.6 Gluco (English Biscuit Manufacturers (Pvt) Ltd) 18.6
Pretz (Ezaki Glico co., Ltd) 26.2 Picola (Mondelez International, Inc) 18.5
Jiangzhong monkey biscuit (Jiangzhong Pharmaceutical (Group) Co., Ltd.) 26.1 Lyubyatovo (The Kellogg Company) 17.8
Takara (Takara Shoji Co.,Ltd) 25.8 Fun 0 O (JG Summit Holdings Inc.) 17.3
Glico 0 Others (Ezaki Glico co., Ltd) 25.3 Jessica (Guangzhou Eagle Coin Enterprise Group) 17.2
Danish (Partex Star Group) 25.2 Julie`s (Perfect Food Manufacturing (M) Sdn. Bhd.) 17.0
Roshen (Roshen Confectionery Corporation) 25.2 Cream Treat (Britannia) 16.8
134
 Appendix

Asia-Pacific value sales, bakery & cereals (2019, US$ Million) Asia-Pacific value sales, bakery & cereals (2019, US$ Million)
Cookies (Sweet Biscuits) (continued) Cookies (Sweet Biscuits) (continued)
Brand (trademark owner) Value Brand (trademark owner) Value
Jacob`s (Yildiz Holding AS) 16.8 Lemon Sandwich (English Biscuit Manufacturers (Pvt) Ltd) 13.2
Gonur (Gonur) 16.7 Rich & Rich (Meiji Holdings Co Ltd) 13.2
Biscafun (Biscafun Confectionary Co) 16.7 Yan (Meiji Holdings Co Ltd) 13.2
Farmbake (Campbells Soup Company) 16.6 Magic (JG Summit Holdings Inc.) 13.1
Royals (Campbells Soup Company) 15.9 Wagon Wheels (Campbells Soup Company) 13.0
Nissin 0 Overall (Nissin Food Holdings Co., LTD) 15.5 Unibic Anzac (Modern Baking Company) 12.8
Walkers (Walkers Shortbread Ltd.) 15.3 Chips More (Mondelez International, Inc) 12.7
Rodeo (PT. Nissin Biscuit Indonesia) 15.2 Delish (Delish Cookies) 12.0
Huu Nghi (Huu Nghi Food JSC) 15.0 Snip Snap (Konimex Pharmaceutical Laboratories PT) 11.9
Richeese (PT Kaldu Sari Nabati Indonesia) 15.0 Venezia (Campbells Soup Company) 11.8
Hai Chau (Hai Chau Confectionary JSC) 14.7 Dewberry (JG Summit Holdings Inc.) 11.7
Tohato (Tohato Inc.) 14.7 Chocolate Chip Cookie (Ismail Industries Limited) 11.7
Taze ay (Taze ay) 14.6 Tuc (Mondelez International, Inc) 11.5
Monte Carlo (Campbells Soup Company) 14.5 Bahlsen (Bahlsen Gmbh & Co. Kg) 11.0
Biskrem (Yildiz Holding AS) 14.3 Tonk (Orion Confectionery Co, Ltd.) 10.9
Nyam (Campbells Soup Company) 14.3 Rite (Ismail Industries Limited) 10.8
Pepperidge Farm (Campbells Soup Company) 14.1 OJO lucky (Mondelez International, Inc) 10.8
Hob Nobs (Yildiz Holding AS) 14.1 Treat Gold (Ismail Industries Limited) 10.8
Gala (Mondelez International, Inc) 14.1 Globe (Globe Group ) 10.7
Tee Vee Snacks (Campbells Soup Company) 14.0 Hansel Premium (Rebisco Group of Companies) 10.7
Cadbury 0 Overall (Mondelez International, Inc) 13.8 Cocomo (Ismail Industries Limited) 10.4
Hello Panda (Meiji Holdings Co Ltd) 13.6 Rahat Wafer Biscuit (Lotte Co., Ltd.) 10.4
Shortbread Creams (Campbells Soup Company) 13.5 Kez`s 0 Overall (Kez`s Kitchen) 10.2
135
Appendix

Asia-Pacific value sales, bakery & cereals (2019, US$ Million) Asia-Pacific value sales, bakery & cereals (2019, US$ Million)
Cookies (Sweet Biscuits) (continued) Cookies (Sweet Biscuits) (continued)
Brand (trademark owner) Value Brand (trademark owner) Value
Byron Bay Cookies (Rinoldi Pasta Pty. Ltd.) 10.2 Bissin (Thai President Foods Public Company Limited.) 7.3
Imperial (Kim Chua Group Co., Ltd.) 9.8 Ernest Adams (Goodman Fielder) 7.2
Ulker 0 Overall (Yildiz Holding AS) 9.5 St Michel (St Michel Biscuits) 7.2
Kinh Do (Mondelez International, Inc) 9.4 Aim (Aneka Indomakmur PT) 7.0
Hup Seng (Hup Seng Perusahaan Makanan (M) Sdn. Bhd) 9.3 Voiz (Monde Nissin) 6.7
Kerk (Hup Seng Perusahaan Makanan (M) Sdn. Bhd) 8.9 Richoco (Kaldu Sari Nabati Indonesia PT) 6.7
Tiffany (IFFCO) 8.9 Rot Front (United Confectioners) 6.6
Lausanne (JG Summit Holdings Inc.) 8.9 Langue De Chat (ISHIYA CO., LTD.) 6.4
Arsenal (Friendship Co., Ltd.) 8.8 Lu (Mondelez International, Inc) 6.2
Bibica (Bibica) 8.8 Dihani (Tsan Yu Yen Food Co., Ltd.) 6.1
Teddy Bear (Campbells Soup Company) 8.7 Loacker 0 Overall (A. Loacker Ag) 6.0
Asem (Sultan Konditerskie Izdeliya AO) 8.6 La Monde (Veyseloglu Shirketler Grupu) 5.8
Na! (Orion Confectionery Co, Ltd.) 8.5 Jacobsens (Jacobsons Bakery Ltd) 5.6
Petit Beurre (Sultan Konditerskie Izdeliya AO) 8.2 Frootees (Rebisco Group of Companies) 5.5
Famous Five (San Miguel Corporation) 7.9 Koala's March (Lotte Co., Ltd.) 5.4
Margaret (Lotte Co., Ltd.) 7.9 Milka (Mondelez International, Inc) 5.3
Caramel Crowns (Campbells Soup Company) 7.7 Eggnog (Monde Nissin) 5.3
Nanao Seika (Nanao confectionery Co) 7.7 Bingo (Monde Nissin) 5.2
Mio (Orang Tua Group) 7.6 Complete Protein Cookie (Justine`s Limited) 5.2
Rebisco 0 Overall (Rebisco Group of Companies) 7.4 Edo Pack (Edo Trading Company) 5.2
Choco Homerun Ball (Crown Confectionery Co., Ltd.) 7.4 Albeni (Yildiz Holding AS) 5.0
Lotus (Lotus Bakeries) 7.3 Lambertz (Lambertz Group) 5.0
Ifad (IFAD Multi Products Ltd.) 7.3 Baraka (The Saeed Industrial & Commercial Group) 5.0
136
 Appendix

Asia-Pacific value sales, bakery & cereals (2019, US$ Million) Asia-Pacific value sales, bakery & cereals (2019, US$ Million)
Cookies (Sweet Biscuits) (continued) Cookies (Sweet Biscuits) (continued)
Brand (trademark owner) Value Brand (trademark owner) Value
Petrodiet (Petrodiet) 4.9 Estella (Veyseloglu Shirketler Grupu) 3.2
Gold Mark (Rani Food Industries Ltd.) 4.9 Cameo (Orion Confectionery Co, Ltd.) 3.2
Bangas (Bangas Ltd) 4.9 Emily (Bibica) 3.2
Kancho (Lotte Co., Ltd.) 4.8 Denma (Useful Food Co.,Ltd.) 3.0
Chocolatto (Ismail Industries Limited) 4.6 Dong Khanh (Dong khanh Food Industrial Co Ltd) 3.0
Mybizcuit (Koon Brother Sdn. Bhd.) 4.6 Benimo (ETI EUROPEAN FOOD INDUSTRIES S.A.) 2.9
Belvita (Mondelez International, Inc) 4.5 Teenie (Ezaki Glico co., Ltd) 2.9
Lotte (Lotte Co., Ltd.) 4.4 Gullon (Galletas Gullón S.A.) 2.9
Nissin Cubee (Monde Nissin) 4.3 Di Costa (Di Costa) 2.8
Hasar (Hasar) 4.1 Deemah (United Food Industries Corporation Ltd) 2.7
Gavottes (Gavottes) 4.1 Hwa Tai 0 Overall (Hwa Tai Industries Bhd) 2.6
Kist (Cargills (Ceylon) Group) 4.0 Tomus (Tomus Association) 2.6
Meiji (Meiji Holdings Co Ltd) 3.9 Shoon Fatt (Shoon Fatt Biscuit & Confectionery Factory Sdn. Bhd.) 2.6
Korovka (Obiedinenye Konditery UK OOO) 3.8 Chipschoc (DHN (KK) SDN BHD) 2.6
Choice (Hwa Tai Industries Bhd) 3.6 Rebisco 0 Others (Rebisco Group of Companies) 2.5
Korento (Mondelez International, Inc) 3.5 Swiss Delice (Elsa Mifroma Group) 2.4
Little lion (Little Lion Associate (pvt) Ltd) 3.5 Famous Amos (The Famous Amos Chocolate Chip Cookie Corp. (M) Sdn Bhd.) 2.3
Jules Destrooper (Jules Destropper NV) 3.4 Silang (DongGuan Kam Tai Co., Ltd) 2.2
Binch (Lotte Co., Ltd.) 3.4 Monte Lemo (Veyseloglu Shirketler Grupu) 2.2
Quaker (PepsiCo) 3.4 Caplico (Ezaki Glico co., Ltd) 2.1
Danone (Danone Group) 3.4 Bahlsen (The Bahlsen Family) 2.1
Lucky (Select Harvests Ltd) 3.3 Mum`s Bake (Cocoaland Holdings Bhd) 2.0
Peking (European Food Public Company Limited) 3.3 Scooby Doo (General Mills, Inc.) 1.9
137
Appendix

Asia-Pacific value sales, bakery & cereals (2019, US$ Million) Asia-Pacific value sales, bakery & cereals (2019, US$ Million)
Cookies (Sweet Biscuits) (continued) Cookies (Sweet Biscuits) (continued)
Brand (trademark owner) Value Brand (trademark owner) Value
Astra (Campbells Soup Company) 1.9 Diyes (Diadar) 0.8
Matinee (Useful Food Co.,Ltd.) 1.8 D Lush (Naturally Good Products Ltd) 0.7
Vilson (Vilson) 1.7 Kolomenskoe (Kolomenskii) 0.7
Delio (S&P Syndicate Public Company Limited) 1.7 Tonon (Monviso Group) 0.7
Julie`s 0 Overall (Perfect Food Manufacturing (M) Sdn. Bhd.) 1.7 Koala (Lotte Co., Ltd.) 0.6
Macro Gluten (Gomacro, Inc) 1.6 Sanniu (Sanniu) 0.6
Royal Dansk (Campbells Soup Company) 1.5 Munchy`s (Munchy Food Industries Sdn Bhd) 0.5
Freedom Foods (Freedom Foods Group Limited) 1.4 Cuetara (Adams Food Ltd.) 0.5
Lee (Lee Biscuits Pte Ltd) 1.4 Kukhmaster (Kukhmaster) 0.5
Tatawa (Tatawa Industries (M) Sdn. Bhd) 1.4 Yubileinoye (Mondelez International, Inc) 0.5
Sultan Vafli (Sultan Konditerskie Izdeliya AO) 1.4 Gunz Patisserie (GUNZ GmbH) 0.4
Glico (Ezaki Glico co., Ltd) 1.2 Yashkino (KDV Group) 0.4
Petit Beure (ETI EUROPEAN FOOD INDUSTRIES S.A.) 1.2 Super Kontik (Konti0Rus) 0.4
Crawfords (Yildiz Holding AS) 1.2 Julie's (Perfect Food Manufacturing (M) Sdn. Bhd.) 0.4
Choco Pie (Orion Confectionery Co, Ltd.) 1.2 Akulchev (Akulchev Ltd) 0.4
Pods (Mars, Incorporated) 1.2 Teddy (Hup Seng Perusahaan Makanan (M) Sdn. Bhd) 0.4
Riberhus (Kelsen Group) 1.1 Grand Candy (Grand Candy) 0.4
Cin (ETI EUROPEAN FOOD INDUSTRIES S.A.) 1.1 Borowski (Avrora Ltd ) 0.4
Tago (Tago) 1.1 Biscolata (Sölen A.S.) 0.4
Hanimeller (Ulker Group) 1.1 Alionka (GUTA GROUP United Confectioners) 0.3
Posidelkino (Favorite Land) 1.0 Cookie Choice (Kim Chua Group Co., Ltd.) 0.3
Daroink (Daroink) 0.8 Butter Cookies (Butter Cookies) 0.3
OJO (European Food Public Company Limited) 0.8 Elgorriaga (Elgorriaga Brands, SA) 0.3
138
 Appendix

Asia-Pacific value sales, bakery & cereals (2019, US$ Million)

Cookies (Sweet Biscuits) (continued)
Brand (trademark owner) Value
ABK (The Avk Company) 0.2
Tutku (ETI EUROPEAN FOOD INDUSTRIES S.A.) 0.2
Konti (Konti Group) 0.2
Cookie Time (Cookie Time Limited) 0.1
Yubileynoye (Yubileynoye) 0.1
Private Label 400.1
Others 6,361.4

139
Appendix

Asia-Pacific value sales, bakery & cereals (2019, US$ Million) Asia-Pacific value sales, bakery & cereals (2019, US$ Million)
Dough Products Dough Products (continued)
Brand (trademark owner) Value Brand (trademark owner) Value
Synear (Synear Food Holdings Limited) 109.6 Sitiy Slon (Triada0Pokotorg LLC) 0.1
Gompyo (Daehan Flour Mills Co.,Ltd.) 39.9 Bekon (Bekon Product Ltd.) 0.1
Cj (Cj Group) 28.3 Private Label 223.5
Samyang (Sam Yang Foods Co. Ltd) 21.9 Others 2,979.2
Dongwon (Dongwon F&B) 20.6
Shany (Spc Group) 20.2
Artisanal Producers (Artisanal Producers) 18.3
Gardenia (QAF Limited) 10.9
Marby (Marby Food Ventures) 10.8
Dawn (Dawn Group of Companies) 3.5
Bunny's (Bunny's Limited) 2.3
Mission (GRUMA,S.A.B. de C.V.) 1.0
Gyurjyan (Gyurjyan Eco Food LLC) 0.6
Geghetskuhi (Galletas Gullón S.A.) 0.5
Riha Pelmeshariki (Riha LLC) 0.5
Altay (Parima LLC.) 0.4
Bontier (Bontier ) 0.4
Tamara Food (Tamara Food) 0.4
Gexeckuhi (Grigegor Ltd.) 0.3
Domashniy (Lilit and Suzy Ltd.) 0.2
Miratorg (Miratorg Agribusiness Holding LLC) 0.1
Krasavitsa (Grigegor Ltd.) 0.1
Marianna (Hakobyan A.) 0.1
140
Appendix

Asia-Pacific value sales, bakery & cereals (2019, US$ Million) Asia-Pacific value sales, bakery & cereals (2019, US$ Million)
Energy Bars Energy Bars (continued)
Brand (trademark owner) Value Brand (trademark owner) Value
Calorie Mate (Otsuka Group) 265.7 Clif (Clif Bar & Company) 0.1
Soyjoy (Otsuka Group) 163.8 Private Labels 3.2
Milo (Cereal Partners Worldwide S.A.) 38.4 Others 583.1
Musashi (Nestlé SA) 26.9
Aussie Bodies (Vitaco Holdings Limited) 26.5
Dr You (Orion Confectionery Co, Ltd.) 5.8
F&N (F & N Foods Pte Ltd) 4.5
MaxProtien (Naturell (India) Pvt. Ltd.) 3.5
GoMacro (Gomacro, Inc) 3.5
Private Label (Private Label) 3.2
Winners (Winners Sports Nutrition) 2.7
Powerbar (Post Holdings, Inc) 2.6
Sprouted Grow (Freeland Foods) 0.7
YogaBar (Sproutlife Foods Private Limited) 0.3
Mojo Bar (Pure Snacks Pvt. Ltd.) 0.3
Oh Jeah (Oh Jeah) 0.2
ON THE RUN (Stayfit Enterprize Pvt. Ltd) 0.2
Patanjali (Patanjali Ayurved Ltd) 0.2
Alandv (Aland group) 0.2
Honey Stinger (Honey Stinger) 0.2
HYP (Xterra Nutrition) 0.2
Fitness (Nestlé SA) 0.1
Good mix (Cereal Partners Worldwide S.A.) 0.1
141
Appendix

Asia-Pacific value sales, bakery & cereals (2019, US$ Million) Asia-Pacific value sales, bakery & cereals (2019, US$ Million)
Morning Goods Morning Goods (continued)
Brand (trademark owner) Value Brand (trademark owner) Value
Yamazaki (Yamazaki Baking Co., Ltd.) 222.5 Pinar (Yasar Holding AS) 0.4
Shilla 0 Overall (Shilla Myunggua) 52.9 Nature's path (Nature's Path Foods.) 0.3
I0Mei (Imei Foods Co) 29.9 Daroink (Daroink) 0.3
Chi Mei (Chi Mei Frozen Food Co., Ltd.) 24.5 Zatik (Zatik) 0.2
Golden Bakery (Golden Bakery) 24.3 Kashka Minutka (Industrial Group kuntsevo) 0.1
Dan Cake (Dan Cake A/S) 14.3 Zolotoy Zlak (Slutsk centre of grain Production JSC) 0.1
Yashkino (Yashkino) 11.0 Chipicao (Chipita S.A.) 0.1
Wonder (Wonder) 7.7 Lyubyatovo (The Kellogg Company) 0.1
Wonder (Pran Group) 7.3 Artisanal Producers 1,590.8
Today (Elvan Gida San. ve Tic. A.S.) 7.0 Private Label 95.9
Kinh Do (Mondelez International, Inc) 4.7 Others 5,385.6
Cupcake (Topcake Joint Venture Company, Vietnam) 2.8
Start (Lantmännen Cerealia A / S) 2.7
Sari Roti (Pt. Nippon Indosari Corpindo Tbk) 2.3
Xpytka (Cereal Partners Worldwide S.A.) 2.1
Hot Cake (CJ Cheiljedang) 1.9
Sunrise (Sunrise) 1.9
Kosmostars (Cereal Partners Worldwide S.A.) 1.8
7Days (7Days) 1.5
Fitness (Nestlé SA) 1.1
Zavtrak gotoviy (Moskovskiy kreker) 0.6
GOLD Honey Nut Flakes (Cereal Partners Worldwide S.A.) 0.6
Gold Snow Flakes (Cereal Partners Worldwide S.A.) 0.4
142
Appendix

Asia-Pacific value sales, bakery & cereals (2019, US$ Million) Asia-Pacific value sales, bakery & cereals (2019, US$ Million)
Savory Biscuits Savory Biscuits (continued)
Brand (trademark owner) Value Brand (trademark owner) Value
Want (Want Want China Holdings Limited) 455.7 Iko (YLF Manufacturing Sdn Bhd) 29.4
Tuc (Mondelez International, Inc) 317.9 Pacific (Mondelez International, Inc) 29.1
Khong Guan (Khong Guan Biscuit Factory (S) Pte Ltd) 239.4 Aim (Aneka Indomakmur PT) 28.2
Parle 0 Others (Parle Products Pvt Ltd) 233.1 Allos (Allos Walter Lang GmbH) 28.0
Nissin (PT. Nissin Biscuit Indonesia) 182.3 Oops (Orang Tua Group) 27.6
Shapes (Campbells Soup Company) 128.7 50050 (Britannia) 27.4
Ritz (Mondelez International, Inc) 112.5 Haitai (Haitai Confectionery & Foods Co., Ltd) 23.5
Krackjack (Parle Products Pvt Ltd) 99.1 Arnott`s (Campbells Soup Company) 22.1
Monaco (Parle Products Pvt Ltd) 97.3 McVitie’s (Yildiz Holding AS) 21.6
Gery (Tudung Group) 84.0 Fantastic (Fantastic Snacks Pty Ltd) 21.6
Jatz (Campbells Soup Company) 65.9 Aliva (PepsiCo) 21.6
Time Pass (Britannia) 58.0 Munchee (Ceylon Biscuits Ltd.) 21.0
Jacob`s (Yildiz Holding AS) 54.3 Trenz (PT. Indofood CBP Sukses Makmur Tbk.) 20.5
Glico (Ezaki Glico co., Ltd) 47.3 Jiashili (Guangdong Jiashili Food Group Co., Ltd.) 19.2
Cruskits (Campbells Soup Company) 46.2 Ping Pong (Hup Seng Perusahaan Makanan (M) Sdn. Bhd) 17.6
Vita Weat (Campbells Soup Company) 44.9 Huamei (Dongguan Huamei Food Co.,Ltd.) 17.5
Pejoy (Ezaki Glico co., Ltd) 44.0 Sky Flakes (Monde Nissin) 17.4
Sunfeast (Itc Limited) 42.2 AFC (Mondelez International, Inc) 17.4
Premium (Biscuit) (Mondelez International, Inc) 35.4 Hwa Tai (Hwa Tai Industries Bhd) 15.5
Salada (Savoury Biscuits) (Campbells Soup Company) 33.3 Nabisco (Mondelez International, Inc) 15.5
Sakata (PepsiCo) 32.1 Huntley & Palmers (The Griffin's food company) 14.9
Griffin`s (The Griffin's food company) 31.5 Hup Seng (Hup Seng Perusahaan Makanan (M) Sdn. Bhd) 14.6
Anmol (Anmol Biscuits Ltd) 30.3 Orgran (Roma Foods) 14.5
143
Appendix

Asia-Pacific value sales, bakery & cereals (2019, US$ Million) Asia-Pacific value sales, bakery & cereals (2019, US$ Million)
Savory Biscuits (continued) Savory Biscuits (continued)
Brand (trademark owner) Value Brand (trademark owner) Value
Cheese Cracker (Surya Foods) 13.8 Koloko (Lian Hwa Foods Corp.) 6.9
Breadstix (Monde Nissin) 13.5 Hansel (Rebisco Group of Companies) 6.3
Pepperidge Farm (Campbells Soup Company) 13.1 Marie (Morinaga Milk) 5.9
Lexus (Munchy Food Industries Sdn Bhd) 12.5 Lu (Mondelez International, Inc) 5.8
Magic Flakes (JG Summit Holdings Inc.) 12.3 Hob Nobs (Yildiz Holding AS) 5.5
Sao (Savory Biscuits) (Campbells Soup Company) 12.1 Snip Snap (Konimex Pharmaceutical Laboratories PT) 5.4
Ob Finest (Manassen Foods Australia) 11.6 Ritz Bits (Mondelez International, Inc) 5.3
Garden (The Garden Company Limited) 11.6 Biskfarm Biscuits (Saj Food Products (P) Ltd) 5.2
I0Mei (Imei Foods Co) 10.9 Pekish Thin (Menora Foods) 5.2
Priya Gold (Surya Foods) 10.8 Artisanal Producers (Artisanal Producers) 4.2
Interbis (Interbis Sejahtera PT) 9.9 Edo Pack (Edo Trading Company) 4.1
Olympic (Olympic Industries Limited) 9.5 Xrus team (Frito0Lay, Inc.) 4.0
Gosomi (Orion Confectionery Co, Ltd.) 9.5 Dukes (Ravi Foods Pvt Limited. Inc) 3.9
Julie`s (Perfect Food Manufacturing (M) Sdn. Bhd.) 9.4 My San Grahams (My San Grahams) 3.5
Maliban (Maliban) 9.2 Waterthins (Green`s General Foods Pty Ltd) 3.3
Snacks Zig Zag (Surya Foods) 9.1 Always Fresh (Riviana Foods Inc.) 3.2
Carr`s (Yildiz Holding AS) 8.6 Al0Amin (Al0Amin Group) 3.2
Lotte 0 Others (Lotte Co., Ltd.) 8.6 Dr Korner (Hlebprom) 3.2
Ace (Crown Confectionery Co., Ltd.) 8.4 Cravers (The Griffin's food company) 3.1
Country Cheese (Campbells Soup Company) 8.4 Ace (Savory Biscuits) (Associated British Foods Plc) 3.0
OJO lucky (Mondelez International, Inc) 7.7 Arnott`s0overall (Campbells Soup Company) 3.0
Captain`s Table (Mondelez International, Inc) 7.4 Takara (Takara Shoji Co.,Ltd) 2.9
Morinaga (Morinaga & Co., Ltd.) 7.2 Salada (Campbells Soup Company) 2.8
144
Appendix

Asia-Pacific value sales, bakery & cereals (2019, US$ Million) Asia-Pacific value sales, bakery & cereals (2019, US$ Million)
Savory Biscuits (continued) Savory Biscuits (continued)
Brand (trademark owner) Value Brand (trademark owner) Value
Fita (Monde Nissin) 2.7 Arnott`s 0 Overall (Campbells Soup Company) 1.4
Homey (Thai President Foods Public Company Limited.) 2.7 Danish (Partex Star Group) 1.3
Saltish (English Biscuit Manufacturers (Pvt) Ltd) 2.2 Cizi Ulker (Yildiz Holding AS) 1.3
Fitness (Nestlé SA) 2.2 Ikram Ulker (Yildiz Holding AS) 1.3
Magic (JG Summit Holdings Inc.) 2.2 Deluxe (AsiaEP Bhd. ) 1.3
Novita (Ismail Industries Limited) 2.1 Gery Saluut (Garuda Food) 1.2
180 Degrees (180 Degrees Ltd) 2.0 De Kroes (De Kroes B.V) 1.2
Yashkino (Yashkino) 2.0 Crawfords (Yildiz Holding AS) 1.0
Chi Mei (Chi Mei Frozen Food Co., Ltd.) 2.0 Delmaine (Delmaine Fine Foods) 1.0
Pran (Pran Group) 2.0 Pretz (Ezaki Glico co., Ltd) 0.9
Sultan 0 Overall (Sultan Konditerskie Izdeliya AO) 1.9 Crich (New Industry Biscotti Crish SpA) 0.9
Four Seas (Four Seas Group) 1.9 Snatt's (Grefusa S.L.) 0.9
Silang (DongGuan Kam Tai Co., Ltd) 1.8 Lexus ( Munchy's Group) 0.9
Bissin (Thai President Foods Public Company Limited.) 1.7 Kishwan (Kishwan Group) 0.9
Lyubyatovo (The Kellogg Company) 1.7 Julie's (Perfect Food Manufacturing (M) Sdn. Bhd.) 0.8
Imperial (Kim Chua Group Co., Ltd.) 1.7 Ceres (Ceres Enterprises Ltd) 0.8
Ulker 0 Overall (Yildiz Holding AS) 1.7 Harvest (Lotte Co., Ltd.) 0.8
Haylayf Ulker (Yildiz Holding AS) 1.6 Bangas (Bangas Ltd) 0.8
Ryvita (Associated British Foods Plc) 1.5 Rosy (Kim Chua Group Co., Ltd.) 0.8
Freelicious (Freelicious) 1.5 Butter Puff (Peek Freans) 0.7
Zec (Lotte Co., Ltd.) 1.4 Gullon (Galletas Gullón S.A.) 0.7
Kohi (Campbells Soup Company) 1.4 Fratelli Laurieri (Laurieri Srl ) 0.7
Little lion (Little Lion Associate (pvt) Ltd) 1.4 Globe (Globe Group ) 0.7
145
Appendix

Asia-Pacific value sales, bakery & cereals (2019, US$ Million) Asia-Pacific value sales, bakery & cereals (2019, US$ Million)
Savory Biscuits (continued) Savory Biscuits (continued)
Brand (trademark owner) Value Brand (trademark owner) Value
Göteborgs (Orkla Group) 0.6 HrusTeam Grenki (Frito0Lay, Inc.) 0.1
Sunflower (Croley Foods) 0.6 Buterbrodnyy (Buterbrodnyy) 0.1
Klas (Klas) 0.6 Bukovki (Bukovki) 0.1
Pepero (Lotte Co., Ltd.) 0.6 HrusTeam K Pennomu (Frito0Lay, Inc.) 0.1
Ulker (Yildiz Holding AS) 0.5 Daroink (Daroink) 0.1
La Pacita 0 Overall (San Miguel Corporation) 0.5 HrustTeam Twister (Frito0Lay, Inc.) 0.1
Schar (Dr Schar AG) 0.5 HrusTeam Stix (Frito0Lay, Inc.) 0.1
Baker`s Choice (Kim Chua Group Co., Ltd.) 0.5 Private Label 98.1
Forno Damiani (EUROSNACK srl ) 0.5 Others 5,026.4
Diyes (Diadar) 0.5
Finagle (Finagle Lanka (Pvt) Ltd) 0.4
Master Kong (Tingyi Holding Corp) 0.4
Croco (CROCO SRL Onesti ) 0.3
HrusTeam (Frito0Lay, Inc.) 0.2
DeBeukelaer (DeBeukelaer) 0.2
Dr. Korner (Dr.Körner) 0.2
Grona (Grona) 0.2
HrusTeam Baget (Frito0Lay, Inc.) 0.2
Grand Candy (Grand Candy) 0.2
Kirieshki (KDV Group) 0.2
De Cecco (Flli De Cecco de Filippo Fara San Martino SpA) 0.2
Roshen (Roshen Confectionery Corporation) 0.2
Karavan (OOO "KARAVAN") 0.1
146
Appendix

Health & Wellness product attribute analysis for Asia-Pacific (US$ Million)

Product Attribute 2019 2020 2021 2022 2023 2024

Food Intolerance (FI) 841.9 832.2 843.1 854.2 865.1 878.6
Food Minus 458.2 471.5 488.9 501.7 513.8 526.2

Opportunities in the Asia-Pacific bakery & cereals Sector

Free From 1,695.2 1,730.1 1,802.4 1,869.9 1,940.8 2,015.0
Functional & Fortified 2,816.7 2,915.1 3,100.6 3,262.7 3,432.5 3,620.8
Naturally Healthy (NH) 8,376.0 8,544.4 8,708.2 8,824.6 8,926.1 9,029.2

Health & Wellness consumer benefit attribute analysis for Asia-Pacific (US$ Million)

Product Attribute 2019 2020 2021 2022 2023 2024

General Wellbeing 8,504.8 8,673.9 8,939.4 9,153.3 9,364.6 9,602.5

Health Management 4,789.2 4,897.3 5,031.7 5,144.5 5,253.8 5,361.5

Weight & Shape Management 894.0 922.3 972.0 1,015.3 1,059.8 1,105.8

147
Appendix

Leading Distribution Channels in the Asia-Pacific region (US$ Million)

Distribution Channel 2014 2015 2016 2017 2018 2019

Food & drinks specialists 42,629.2 43,602.9 45,136.6 47,041.1 50,598.2 52,775.8

Opportunities in the Asia-Pacific bakery & cereals Sector

Hypermarkets &
41,160.0 39,504.4 41,465.1 42,590.1 44,916.1 46,370.4
Supermarkets

Convenience Stores 24,176.8 24,204.3 24,782.7 25,350.3 26,368.5 27,420.7

eRetailers 2,654.5 2,818.2 3,004.4 3,301.6 3,751.4 4,132.6

Department Stores 1,741.4 1,641.3 1,739.9 1,574.6 1,545.7 1,602.5

“Dollar Stores”, Variety

Stores & General 754.8 782.8 777.1 755.9 782.5 807.3
Merchandise Retailers
Cash & Carries &
196.9 182.0 180.5 192.2 198.3 199.8
Warehouse Clubs

Vending machines 122.5 112.1 126.3 126.6 132.9 139.7

Drug stores &

0.3 0.3 0.3 0.3 0.4 0.4
Pharmacies

Others 6,262.0 5,529.0 4,893.3 4,804.0 4,814.0 4,822.0

148
Appendix

Volume Growth by Pack Material, 2014–2024 (Million Units)

Pack Material 2014 2015 2016 2017 2019 2019 2020 2021 2022 2024 2024

Opportunities in the Asia-Pacific bakery & cereals Sector

Flexible
39,474.3 41,350.3 43,175.1 45,000.9 46,785.5 48,649.4 49,066.9 49,831.1 50,231.8 50,579.4 50,838.2
Packaging

Rigid Plastics 13,014.3 13,681.4 14,357.2 15,010.4 15,660.6 16,346.4 16,575.2 17,089.1 17,489.3 17,871.9 18,217.1

Paper & Board 2,604.4 2,721.8 2,838.3 2,951.7 3,062.9 3,180.0 3,225.6 3,309.1 3,369.5 3,426.9 3,475.2

Rigid Metal 733.7 755.5 775.9 795.2 816.2 837.3 838.9 864.7 880.2 893.8 905.9

Glass 24.7 25.0 25.3 25.5 25.7 25.9 25.4 25.0 24.6 24.2 23.7

149
Appendix

Volume Growth by Pack Type, 2014–2024 (Million Units)

Pack Type 2014 2015 2016 2017 2019 2019 2020 2021 2022 2024 2024
Bag/Sachet 21,088.3 22,157.6 23,203.2 24,252.1 25,278.9 26,373.2 26,546.4 26,598.1 26,483.2 26,321.5 26,096.6
Film 17,906.5 18,696.6 19,458.9 20,219.2 20,960.5 21,713.0 21,967.3 22,682.6 23,203.6 23,719.1 24,209.7

Opportunities in the Asia-Pacific bakery & cereals Sector

Tray 10,336.3 10,893.8 11,452.9 11,993.3 12,532.6 13,099.8 13,310.9 13,755.9 14,095.9 14,421.1 14,712.9

Clamshell 2,229.0 2,334.6 2,445.6 2,551.6 2,655.9 2,767.6 2,794.3 2,855.5 2,907.7 2,957.6 3,000.5
Carton -
2,174.2 2,270.4 2,367.3 2,460.4 2,552.3 2,648.3 2,673.2 2,745.5 2,798.8 2,850.0 2,896.9
Folding
Tub 678.8 693.3 708.2 724.3 739.2 755.6 757.1 766.1 772.1 777.0 780.2
Specialty
660.8 678.6 694.9 710.2 727.3 744.4 743.4 765.6 778.4 789.4 799.1
Container
Stand Up
319.4 329.5 339.6 349.7 359.6 370.0 367.0 368.3 367.7 366.6 365.1
Pouch
Can 145.7 153.3 161.0 168.6 176.2 183.9 189.8 198.4 204.9 211.6 218.1

Wrapper 135.9 142.4 148.8 155.0 161.4 168.0 161.9 158.4 154.3 149.9 145.2

Jar 103.3 109.4 115.5 122.2 128.6 135.8 142.1 147.1 152.0 156.5 161.0
Bottle 43.8 44.6 45.5 46.3 47.1 47.9 48.0 48.0 47.9 47.8 47.6

Tube 25.1 25.4 25.6 25.9 26.2 26.3 25.4 24.8 24.1 23.4 22.7

Sleeve 3.2 3.4 3.5 3.7 3.8 4.0 3.8 3.7 3.6 3.4 3.3
Foil 1.2 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3

150
Appendix

Volume Growth by Closure Type, 2014–2024 (Million Units)

Closure Type 2014 2015 2016 2017 2019 2019 2020 2021 2022 2024 2024

Plastic Tie 3,867.2 4,039.4 4,207.4 4,370.2 4,530.9 4,705.5 4,694.9 4,681.0 4,653.1 4,617.7 4,574.6

Opportunities in the Asia-Pacific bakery & cereals Sector

Film 2,807.3 2,995.2 3,197.2 3,387.6 3,576.2 3,781.4 3,849.1 3,966.8 4,068.4 4,162.9 4,245.9

Prize off 1,937.3 2,003.5 2,066.2 2,130.4 2,193.4 2,260.9 2,297.4 2,346.4 2,376.2 2,401.5 2,415.4

Other 280.1 298.6 315.6 333.0 349.2 367.7 337.9 323.6 309.3 294.3 279.6

Screw Top 174.3 181.7 189.1 197.0 204.6 212.9 219.1 223.8 228.2 232.2 236.1

Foil 79.1 83.8 88.3 92.9 97.4 102.2 94.4 90.7 86.7 82.7 78.7

Twist Off 8.7 8.7 8.7 8.7 8.6 8.6 8.3 8.1 8.0 7.8 7.7

Flip/Snap Top 1.0 1.0 1.1 1.1 1.1 1.1 1.1 1.2 1.2 1.2 1.2

Sports Cap 0.5 0.5 0.5 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6

None 46,695.9 48,921.5 51,097.8 53,262.4 55,389.1 57,598.0 58,229.1 59,476.9 60,263.7 60,995.3 61,620.4

151
Appendix

Volume Growth by Primary Outer Type, 2014–2024 (Million Units)

Primary Outer Type 2014 2015 2016 2017 2019 2019 2020 2021 2022 2024 2024

Opportunities in the Asia-Pacific bakery & cereals Sector

Carton - Folding 9,518.3 9,961.1 10,399.0 10,841.1 11,281.0 11,752.8 11,947.3 12,223.1 12,414.5 12,589.1 12,737.6

Bag 5,654.1 5,995.5 6,351.7 6,689.2 7,024.6 7,381.7 7,513.1 7,768.9 7,980.3 8,180.6 8,363.0

Sleeve 87.9 92.6 97.2 101.8 106.3 111.2 110.1 111.1 111.7 112.2 112.7

Shrink Wrap 0.2 0.2 0.2 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3

Other 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02

None 40,590.8 42,484.7 44,323.6 46,151.4 47,938.8 49,793.1 50,161.2 51,015.8 51,488.7 51,914.0 52,246.5

152
Country List Analyzed to Identify High-Potential Countries
List of 109 countries analyzed to identify the high-potential countries in different regions are mentioned below:

Asia-Pacific Middle East and Africa Western Europe Eastern Europe Americas
Australia Egypt Austria Bulgaria Argentina
China Israel Belgium Czechia Brazil
Hong Kong Saudi Arabia Denmark Hungary Canada
India South Africa Finland Poland Chile
Indonesia UAE France Romania Colombia

Opportunities in the Asia-Pacific bakery & cereals Sector

Japan Algeria Germany Russia Mexico
Malaysia Angola Greece Slovakia Peru
New Zealand Bahrain Ireland Turkey US
Philippines Ethiopia Italy Ukraine Bolivia
Singapore Ghana Netherlands Belarus Costa Rica
South Korea Iran Norway Bosnia-Herzegovina Cuba
Thailand Iraq Portugal Croatia Dominican Republic
Armenia Jordan Spain Estonia Ecuador
Azerbaijan Kenya Sweden Kosovo El Salvador
Bangladesh Kuwait UK Latvia Guatemala
Georgia Lebanon Iceland Lithuania Honduras
Kazakhstan Morocco Luxembourg Macedonia Nicaragua
Kyrgyzstan Nigeria Malta Moldova Panama
Macau Oman Switzerland Serbia Paraguay
Myanmar Qatar Slovenia Puerto Rico
Pakistan Sudan Uruguay
Sri Lanka Syria
Taiwan Tunisia
Turkmenistan
Uzbekistan Standard list of countries Extended list of countries
Vietnam

153
Definition
Definitions – Category

Category Definition
Individual ingredients or combinations of ingredients designed for baking. For example, baking fruits, marzipan, baking yeast, icing, etc. Also
Baking Ingredients
includes cooking chocolate.
These are the packaged mix of ingredients (typically sold in packets or tubs) to which liquid, eggs, or other ingredients are added to produce baked
Baking Mixes
goods such as bread, brownies, desserts, cakes, muffins, pancakes, and biscuits.

Opportunities in the Asia-Pacific bakery & cereals Sector

Bread & Rolls
All pre-packed and baked in-store breads and rolls. Includes Malt Loaf.

Breakfast Cereals Includes all breakfast cereals (whether designed to be eaten hot or cold). Includes porridge oats and oatmeal.

Cakes, Pastries & Sweet Pies

All premade cakes and pastries (including those baked on the premises of retailers (inc. bakers). Includes flapjacks and brownies.

Cereal Bars Confectionery/breakfast-replacement bars made from a mixture of cereals and fruits bound together by syrup e.g. Nutri-Grain. Does not include
energy bars.

Cookies (Sweet Biscuits) All sweet biscuits, including American style cookies (sweetened dough). Includes chocolate covered cookies/biscuits, filled biscuits (e.g. Oreos), and
wafers.

Dough Products Includes all pre-prepared pastry, pizza bases, pie and pastry shells and frozen dough products.

Energy Bars Includes Protein bars and cereal-based bars that have been nutritionally fortified to give an energy boost. For example, Lucozade Sport Energy Bar.

Breakfast bakery products such as pain au raisins, croissants, bagels, muffins, crumpets, etc. Includes morning pastry type products cooked in
Morning Goods
toasters (i.e. Pop Tarts). Excludes Malt Loaf.

Savory Biscuits Includes all crackers, crisp breads (bread substitutes e.g. Ryvita), and cheese crackers.

155
Definitions – Channel (1/2)

Distribution Channel

A variety store or price-point retailer (including dollar stores) is a retail store that sells inexpensive items, often with a single price for all items in the
store, or a general low price policy. Typical merchandise includes cleaning supplies, toys, household goods and gardening equipment, basic foods and
"Dollar Stores", Variety Store & beverages. A general store, general merchandise store, or small town store carries a (broad) general line of merchandise, often in a medium (and
General Merchandise Retailers sometimes small) store format, serving the needs of either the surrounding town or rural area. They differ from convenience stores or corner shops in
that it will be the main shop for the community rather than a convenient supplement and typically carries a broader product line. (Example: 9 to 9

Opportunities in the Asia-Pacific bakery & cereals Sector

Dollar Shop).

Cash & carries sell from a wholesale warehouse to customers (small retailers, professional users) who pay on the spot and transport goods away
Cash & Carries and Warehouse themselves. Warehouse clubs are no-frills stores that sell discounted goods to members who pay an annual fee. Delivered wholesale sales are not
Clubs included. In our data only sales from these stores direct to the public (for example through work place deals allowing otherwise regular consumers to
shop there) are covered. (Example: Makro, Metro, Costco, Sam’s Club).

Retail outlets selling prescription-bound medicines under the supervision of a pharmacist and as its core activity (other activities include sales of OTC
Chemists/Pharmacies
healthcare and cosmetics and toiletries products).

Includes all sales through stores of an area generally less than 300 sq. m. that specialize in a limited range of food & grocery products designed primarily
Convenience Stores for consumers with top-up shopping needs. Also includes sales in retail outlets attached to gas stations, where fuel is the main revenue driver, kiosks,
and newsstands. This also includes small independent retailers, particularly those present in countries such as China and India.

Includes all sales through multi-category retailers, focusing primarily on non-grocery categories with distinct departments specializing in defined
Department Stores
product areas. It also includes duty free shops. Examples include Bloomingdale's, Macy's, John Lewis, and El Corte Ingles.

Includes sales of cosmetics and toiletries products directly to consumers from marketers or manufacturers. Location of sale is generally away from
Direct Sellers
established retail locations and takes place at consumers home, workplace, and other similar places.

156
Definitions – Channel (2/2)

Distribution Channel

Includes all sales that take place over the internet, irrespective of whether the vendor is a pure-play internet company or the online offering of a
E-Retailers
physical retailer. Examples include Amazon, SPAR, and FutureBazaar.com in India.

Opportunities in the Asia-Pacific bakery & cereals Sector

Retailers that generate the majority of their revenue through a specific product type. In the personal care market, this includes specialist stores other
Health & Beauty Stores
than drugstores. Examples include Sephora and Body Shop.

Hypermarkets/mass merchandisers include all sales through retailers with floor area over 2,500 sq m that carry full lines of both grocery and general
merchandise (e.g. Wal-Mart). Supermarkets include all sales through retailers with a floor area of 300 sq m -2,500 sq m that offer a wide,
Hypermarkets & Supermarkets
departmentalized range of groceries, and may carry some general merchandise lines (e.g. Sainsbury's, Kroger). It also includes hard grocery discounters
such as Wal-Mart.

Retail outlets selling mainly OTC healthcare, cosmetics and toiletries, disposable paper products, household care products and other general
merchandise. Such outlets may also offer prescription-bound medicines under the supervision of a pharmacist. Drugstores in Spain (Droguerías) also sell
household cleaning agents, paint, DIY products and sometimes pet products and services such as photo processing. Example brands include Schlecker
Parapharmacies/Drugstores
(Germany), Rossmann (Germany), Kruidvat (The Netherlands), Walgreen’s (US), CVS (US), Medicine Shoppe (US), Matsumoto Kiyoshi (Japan), HAC
Kimisawa (Japan). Example brands include Schlecker (Germany), Rossmann (Germany), Kruidvat (The Netherlands), Walgreen’s (US), CVS (US), Medicine
Shoppe (US), Matsumoto Kiyoshi (Japan), HAC Kimisawa (Japan).

Others Includes other generalist retail channels not included in the categories above (e.g. market traders, charity stores, student union stores, and direct sales).

157
Definitions – Health & Wellness

Product Attributes
Food minus Reduced Sodium/Salt, Sugar, Calorie, Cholesterol & Fat
Food Intolerance Lactose-Free, Gluten-Free, and Other Food Intolerance
Free from Fat-Free, Sodium-Free/Salt-Free, No added Sugar, Cholesterol Free, No Added Sodium/Salt, Sugar Free

Opportunities in the Asia-Pacific bakery & cereals Sector

Functional and Fortified Added Calcium, Vitamins, Probiotic, Added Omega-3, Added Fiber/Pre-biotic
Naturally Healthy All natural, source of calcium, vitamin
Consumer Benefits
Bone and Joint Health, Immune Support, Cardiovascular Health, Diabetic /Dietetic, Digestive Health, Oral Health, Respiratory Health, Urinary Tract
Health Management
Health, Vision Health, and Other Health Management
Weight & Shape Management Weight Management, Fat Burning, Other Weight & Shape Management

158
GlobalData’s Eight Mega-Trends

The dynamics giving shape to the global consumer marketplace can be found in these eight mega-trends
GlobalData's TrendSights framework recognizes that consumer behavior is best interpreted via an organized "trend hierarchy," whereby each overarching mega-trend is comprised of a number
of trends. This is conveyed by the visualization presented on the following slide. Below is a synopsis of the eight mega-trends that are the driving force of change across the FMCG industry.

Opportunities in the Asia-Pacific bakery & cereals Sector

Sustainability & Ethics Comfort & Uncertainty
Mounting awareness and concern surround the scale, Consumers value safety, tradition, simplicity, and reassurance
complexity, and interdependence of shared social and due to rising stress and uncertainty in their lives and the world
environmental challenges globally. around them.

Health & Wellness Individualism & Expression

People of all ages are more proactively addressing their health Values emphasizing individuality and self-expression guide
in a more holistic and personalized manner. confident and empowered modern consumers.

Sensory & Indulgence Easy & Affordable

The driving force behind continually higher expectations of Time and money are perceived to be the great scarcities of
quality, variety, and immersive "consumption experiences." modern life, and consumers are searching for ways to maximize
these limited personal resources.

Smart & Connected

Evolving Landscapes
In a hyper-connected, technology-enabled society, consumers
The underlying and mostly dependable socio-demographic and
seamlessly integrate the use of multiple technologies into their
-economic trends impacting consumer societies.
lives and buying behavior.

159
The Eight Mega-Trends can be Broken Down into 63 Trends

Innovation trends: GlobalData's TrendSights framework

Mega-trends Mega-trends

Opportunities in the Asia-Pacific bakery & cereals Sector

Sustainability & Ethics Comfort & Uncertainty

Health & Wellness Individualism & Expression

Sensory & Indulgence Easy & Affordable

Smart & Connected Evolving Landscapes

160
Definitions – Trends: Health & Wellness
Trend Description
Wellbeing Wellbeing captures an "umbrella" of needs and lifestyle choices that consumers make to address physical and emotional health.

Sterilized society There is an escalating obsession with hygiene, cleanliness, and immunity among health-attentive consumers globally.

Vitality & balance The plethora of demands on time (both at work and leisure), combined with financial uncertainty and mounting debt, are draining energy levels, fueling
stress and driving the need to rejuvenate.

Opportunities in the Asia-Pacific bakery & cereals Sector

Customization Individualistic and empowered consumers desire unique, adaptable products. Being able to actively self-customize and co-create in accordance with their
own preferences meets this desire.

Personalization More specialized and differentiated products are being introduced in order to optimally cater for different age, gender, and ethnic groups, as well as the
lifestyle benefits sought by more demanding consumers.
Fresh, natural & pure Lack of processing holds an allure for health-conscious consumers, initiating and sustaining high interest in all things natural/organic and fresh, and
towards "clean(er) labels."
Moderation & avoidance Consumers exhibit, or aim to exhibit, restraint as a means of improving their wellbeing. In doing so, they are giving up and/or moderating many vices for
the good of their long-term health.

Efficient & effective Consumers are opting for high-performance, economically priced products that best help them to maintain a sense of control in managing and maximizing
their time.
Weight management Consumers are highly aware of their own visual presentation, leading to a more purposeful approach to nutrition and grooming. Image is associated with
success, opportunity, and overall wellbeing.
Guided health In the "information economy," health-conscious consumers now more confidently embrace an abundance of new information tools, enabling more
informed health-driven choices.
Disease management World health is improving, the incidence of diseases is falling, and people are living longer. Yet many past challenges remain and many future threats are
becoming more serious.
Personalized health A "just-for-me" ethos drives a desire for products optimally catering for more specific health needs.

161
Definitions – Trends: Sensory & Indulgence
Trend Description
Novel & experiential Continually exposed to new ideas and concepts in a globalizing consumer society, "variety seekers" enjoy branching out from their normal routines.

Sensory fusion The desire for maximal sensory appeal drives the demand for more sensually appealing, indulgent products. Sensation seekers need varied, novel, and
complex sensations for optimal arousal/enjoyment.
Experimentation More expansive and adventurous consumption patterns are apparent among adventurous and inquisitive consumers who appreciate novel, "fashion-
forward" products, at a time when choice is more diverse.

Opportunities in the Asia-Pacific bakery & cereals Sector

Experience economy Consumers are seeking enjoyment beyond the product itself. They are becoming more "experience-driven" and are willing to pay more for an enhanced
"brand experience." A premium brand must perform at an experiential level.
Authenticity & heritage For premium products in particular, there is a cachet associated with being produced in the "right" way. The appeal of authenticity is reflected by an
escalating interest in, and consumption of, specialty products.
Ethical luxury Quality-focused consumers are embracing products that they consider to be both ethically virtuous and personally pleasurable: premium products
signifying improved sustainability and responsibility.

Customization Individualistic and empowered consumers desire unique, adaptable products. Being able to actively self-customize and co-create in accordance with their
own preferences meets this desire.
Fresh, natural & pure Lack of processing holds an allure for health-conscious consumers, initiating and sustaining high interest in all things natural/organic and fresh, and towards
"clean(er) labels."
Premiumization & indulgence Premiumization captures the reasons consumers treat themselves by buying something better and usually more expensive.

Connoisseurship Consumers pride themselves on their knowledge of specific products and services, as well as their personal ability to select the highest quality experiences.
These individuals will not settle for anything less than what they perceive to be "the best."
Added functionality In the quest for more valuable products and experiences, consumers are looking beyond the sensory aspect toward more visible benefits and functions
that can enhance their user experience.

162
Definitions – Trends: Comfort & Uncertainty (1/2)
Trend Description
Caution Amid anxiety about what the future holds, many consumers draw comfort from the traditional and the familiar. They question wider influences.

Sterilized society There is an escalating obsession with hygiene, cleanliness, and immunity among health-attentive consumers globally.

Fairly traded Alternative trade organizations based on philosophies of social justice and welfare are establishing a deeper presence amid concerns over humane issues

Opportunities in the Asia-Pacific bakery & cereals Sector

such as native population displacement and working standards abuse.

Authenticity & heritage For premium products in particular, there is a cachet associated with being produced in the "right" way. The appeal of authenticity is reflected by an
escalating interest in, and consumption of, specialty products.
Risk aversion Many consumers are inherently wary of change, whether in products and services or society at large. Change reticence and the fear of the unknown create
a general reluctance to embrace new things.
Simplicity Too many demands on time, too much information, and too many choices leave many choosing to either completely or partially adopt a lifestyle of
simplicity that involves eschewing consumerism.

Localism Localism captures a growing distrust of big business and anti-globalization. It accounts for consumers' preference for products signifying certain places,
people, and traditions of local, regional, and national culture.
Trust & transparency In an environment where consumers have become highly skeptical, even cynical, they want deeper, more authentic reassurances and transparency about
how products are produced.
Sharing The desire to share experiences, products, and services with others reflects the "feel good" factor associated with communal interactions. Sharing can also
help to alleviate the financial burdens of "big ticket" products and services.
Personal inter-connections The influence of, and interactions with peers, friends, and family assists in shaping individual consumption patterns through reassurance, recommendation,
and shared consumption.
Cocooning Cocooning now reflects a more deliberate retreat into the home. The home thus becomes a more sophisticated hub for an expanding share of
consumption occasions.

163
Definitions – Trends: Comfort & Uncertainty (2/2)

Trend Description
Retrophilia Retrophilia is a love of things from the past, and includes people who did not necessarily experience it first time round (unlike nostalgia). It reflects modern
recreations of the past (e.g. microbrews, or farmers' markets).
Anchoring In wanting to de-clutter, retreat, and seek comfort from bygone eras, consumers are nesting, valuing simplicity, and enticed by nostalgia.

Opportunities in the Asia-Pacific bakery & cereals Sector

164
Definitions – Trends: Sustainability & Ethics

Trends Description
Social responsibility Consumers want to do "the right thing" and are asking who or what is behind the brand and final product.

Ethical wellbeing Health- and sustainability-conscious consumers are looking to make smarter, feel-good choices by opting for products that are better for them and better
for the world in which they live.

Opportunities in the Asia-Pacific bakery & cereals Sector

Fairly traded Alternative trade organizations based on philosophies of social justice and welfare are establishing a deeper presence amid concerns over humane issues
such as native population displacement and working standards abuse.

Cruelty-free Animal farming activity, especially the husbandry practices used that affect animal welfare, is becoming a more pronounced issue of focus for policy
makers, scientists, and consumers.
Ethical luxury Quality-focused consumers are embracing products that they consider to be both ethically virtuous and personally pleasurable: premium products
signifying improved sustainability and responsibility.
Localism Localism captures a growing distrust of big business and anti-globalization. It accounts for consumers' preference for products signifying certain places,
people, and traditions of local, regional, and national culture.

Trust & transparency In an environment where consumers have become highly skeptical, even cynical, they want deeper, more authentic reassurances and transparency about
how products are produced.
Resource scarcity Population growth, the expanding consumption power of the developing world, and scarcity of natural resources, combine to intensify pressure on critical
resources such as water, energy (notably fossil fuels), and land.
Environmental responsibility There is a strong focus on climate change, environmental deterioration, biodiversity loss, and resource shortages amid growing energy demands.

165
Definitions – Trends: Individualism & Expression

Trend Description
Product specificity A counter-trend amid the ubiquity of mass-market products and brands is the search for more bespoke, personalized products and services.

Gender specificity Consumers seek out products and services that are tailored to specific nuances in their gender.

Opportunities in the Asia-Pacific bakery & cereals Sector

Customization Individualistic and empowered consumers desire unique, adaptable products. Being able to actively self-customize and co-create in accordance with their
own preferences meets this desire.

Personalization More specialized and differentiated products are being introduced in order to optimally cater for different age, gender, and ethnic groups, as well as the
lifestyle benefits sought by more demanding consumers.
Image consciousness Todays consumers are placed under growing pressure to look their best due to standards set by the media and celebrities, as well as the pervasive nature
of image-based social media platforms. As a result, consumers are increasingly searching for the most effective ways by which to achieve the "perfect"
appearance.
Self-branding Individualistic consumers feel the need to control their desired "personal brand:" the image that a person has (or wants to portray) of her/himself. This
often influences brand and product choice.

Hyper-connection Consumers are no longer passively interacting with brands on static web pages; internet utilization has facilitated new and novel ways of connecting with
fellow consumers and discussing brands, as well as communicating with companies.
Blurring gender boundaries As the issue of gender equality becomes more mainstream, many consumers are increasingly defying gender "pigeonholing," resulting in growing fluidity
between typical gender behaviors and definitions.
Single lifestyles With people getting married later, divorcing faster, and living longer, consumers are more likely to explore life as a singleton. Spending on indulgences
during the prolonged single years has simply become a way of life.

166
Definitions – Trends: Smart & Connected

Trend# Description
Digital consumption Technology is changing the way consumers interact with companies, obtain information, and purchase goods and services

Informed shopping Consumers are smarter and increasingly informed, enabled, and demanding. The so-called "Zero Moment of Truth" refers to the time before the shopping
trip when consumers research products.

Opportunities in the Asia-Pacific bakery & cereals Sector

Next-generation shopping Retail is evolving towards more fully embracing segments/channels such as mobiles (m-commerce), tablets (t-commerce), and even social media (s-
commerce).

On-the-go Time scarcity and enhanced mobility lead to consumption occasions occurring in less conventional environments and situations, resulting in easy-to-
consume, on-the-go products.
Hyper-connection Consumers are no longer passively interacting with brands on static web pages; internet utilization has facilitated new and novel ways of connecting with
fellow consumers and discussing brands, as well as communicating with companies.
Smart living Digital connections are proliferating in everyday objects as the online and offline worlds blur. More sophisticated integration among devices in the home
will be used to manage households.

Guided health In the "information economy," health-conscious consumers now more confidently embrace an abundance of new information tools, enabling more
informed health-driven choices.
Digital lifestyles Being digitally connected is heavily ingrained in consumers' daily lives, creating a deepening desire for instant gratification and a propensity to multitask.

167
Definitions – Trends: Easy & Affordable

Trend Description
Value An unrelenting pursuit for value challenges consumers to tenaciously search for comparable products at lower prices.

Bargain hunting Prudent and savvy consumers are highly resourceful about how they spend their money. New approaches to getting the best deal can give consumers a
sense of control and a genuine thrill or buzz.

Opportunities in the Asia-Pacific bakery & cereals Sector

Private label evolution Private labels are competing intensively with national brands across more sectors and categories. More discerning and experienced shoppers are better
able to distinguish between national brands and private labels.

Informed shopping Consumers are smarter and increasingly informed, enabled, and demanding. The so-called "Zero Moment of Truth" refers to the time before the shopping
trip when consumers research products.
Next-generation shopping Retail is evolving towards more fully embracing segments/channels such as mobiles (m-commerce), tablets (t-commerce), and even social media (s-
commerce).
On-the-go Time scarcity and enhanced mobility lead to consumption occasions occurring in less conventional environments and situations, resulting in easy-to-
consume, on-the-go products.

Out-of-home Universally busier lives are leading to growing dependency on consumption away from the home in order to better fit in with new lifestyle patterns.

Simplicity Too many demands on time, too much information, and too many choices leave many choosing to either completely or partially adopt a lifestyle of
simplicity that involves eschewing consumerism.
Efficient & effective Consumers are opting for high-performance, economically priced products that best help them to maintain a sense of control in managing and maximizing
their time.
Time scarcity Demand for ease derives from being time-poor, and a perception of not having enough time to do all the things that one wants or needs to do.

168
Definitions – Trends: Evolving Landscapes

Trend Description
Socio-Economic Change The global economy is growing more connected, facilitating new business models and accelerating the pace of innovation.

Migrating Influence "Post-Western globalization" marks a new phase in global competition and global strategizing, providing a welcome antidote for multinationals battling for
limited market share gains in developed nations.

Opportunities in the Asia-Pacific bakery & cereals Sector

Widening Inequality Poverty is on a downward trend, but globalization and economic development create unprecedented but unevenly distributed wealth, which is increasingly
consolidated at the top tiers of society.

Situational Complexity Family, career and life progression are complex and defy conventional wisdom. Predictable shifts from one life-stage to the next are also less common in
what represents a blurring of life-stages.
Single Lifestyles With people getting married later, divorcing faster, and living longer, consumers are more likely to explore life as a singleton. Spending on indulgences
during the prolonged single years has simply become a way of life.
Population Engines The expanding world population, the majority of whom now live in cities amid ongoing and pronounced urbanization, will create newfound challenges in
terms of meeting the new demand curve associated with population growth.

Aging Populations The populations of the world's most developed countries are rapidly moving towards more older people and fewer younger people. Many emerging
nations are just a generation behind.
Socio-Demographic Change Demographics, and all of the specific needs and wants associated with them, are a source of innovation opportunity and threat.

169
 About GlobalData

GlobalData is a leading provider of data, analytics,

and insights on the world's largest industries.
In an increasingly fast-moving, complex, and uncertain world, it has never been
harder for organizations and decision makers to predict and navigate the future.
This is why GlobalData’s mission is to help our clients to decode the future and

Opportunities in the Asia-Pacific bakery & cereals Sector

profit from faster, more informed decisions. As a leading information services
company, thousands of clients rely on GlobalData for trusted, timely, and
actionable intelligence. Our solutions are designed to provide a daily edge to
professionals within corporations, financial institutions, professional services,
and government agencies..

Unique Data
We continuously update and enrich 50+ terabytes of unique data to provide an
unbiased, authoritative view of the sectors, markets, and companies offering
growth opportunities across the world's largest industries.

Expert Analysis
We leverage the collective expertise of over 2,000 in-house industry analysts,
data scientists, and journalists, as well as a global community of industry
professionals, to provide decision-makers with timely, actionable insight.

Innovative Solutions
We help you work smarter and faster by giving you access to powerful analytics
and customizable workflow tools tailored to your role, alongside direct access to
our expert community of analysts.

One Platform
We have a single taxonomy across all of our data assets and integrate our
capabilities into a single platform – giving you easy access to a complete,
dynamic, and comparable view of the world’s largest industries.

170
[email protected]

Disclaimer
All Rights Reserved. No part of this publication may be reproduced, stored in a
retrieval system or transmitted in any form by any means, electronic,
mechanical, photocopying, recording or otherwise, without the prior
permission of the publisher, GlobalData. The facts of this report are believed
to be correct at the time of publication but cannot be guaranteed. Please note
that the findings, conclusions and recommendations that GlobalData delivers
will be based on information gathered in good faith from both primary and
secondary sources, whose accuracy we are not always in a position to
guarantee. As such, GlobalData can accept no liability whatsoever for actions
taken based on any information that may subsequently prove to be incorrect.