While retail volume sales of unpackaged leavened bread are expected to decline throughout the forecast period, the packaged category looks set to expand consistently in this respect. Given the ongoing cost-of-living crisis in Hungary, the fact that packaged varieties have longer storage lives and can therefore help households to reduce food waste should remain an important driver of demand in the short-to-medium term.
Despite the likelihood that inflationary pressures will continue to depress purchasing power among Hungarians for some time, premiumisation is expected to remain strong in baked goods over the forecast period. Most notably, this trend should become more pronounced in leavened bread, where consumers increasingly favour healthier artisanal-style products that contain superior quality ingredients, have more sophisticated flavours and are enriched or fortified with essential nutrients.
Unpackaged cakes is expected to see retail volume sales decline throughout the forecast period. This is partly due to rising health-consciousness and growing interest in home baking in Hungary, though more cautious attitudes to discretionary spending are also likely to subdue demand for as long as the cost-of-living crisis persists.
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Baked Goods
This is the aggregation of bread, pastries, dessert mixes, frozen baked goods and cakes. Note: Baked goods from in-store bakeries are classified under unpackaged/artisanal, not packaged/industrial. While they may be finished on-site, they are often prepared, then frozen or par-baked, at other locations. Such production models are very important for supermarket in-store bakeries, which have in the past been used to drive traffic and fill stores with appetising aromas, but for which the labour resources required to run a full-service scratch bakery are not always available.
See All of Our DefinitionsThis report originates from Passport, our Baked Goods research and analysis database.
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