According to the report 'The Bakery & Cereals Market in Australia, to 2016', the market value would witness a notable rise in the compound annual growth rate (CAGR) in the next five years to 2.46% between 2011 and 2016, against 2% during 2006-11.
Interestingly, the CAGR for all the segments, including bread & rolls, breakfast, cereals, cakes, pastries & sweet pies, dough products, cereal bars, energy bars, cookies (sweet biscuits), savory biscuits, morning goods, baking mixes and baking ingredients, are projected to grow further.
The value of Bakery & Cereals market in Australia is also set to grow significantly - with likely rise of 13% in 2016 over 2013, when the market grew by 10.4% over 2006.
In terms of segment-wise share, bread & rolls topped the charts with about 33% share on average during 2006 and 2011, and is forecasted to retain the lead even during 2016.
Breakfast cereals and morning goods stood in second and third positions respectively during 2006 and 2011, while cookies (sweet biscuits) is likely to dethrone morning goods from third place, revealed the survey.
Even in terms of volume, Australian bakery & cereals market grew by 9.08 in 2011 over 2006 and is expected to grow further by more than 11% in 2016 over 2011.
The CAGR of market volume is likely to grow similar to that of market value, according to Canadean's report.
Bread & rolls, although the market leader in volume terms throughout the 10-year period, is on losing trend. From more than 44% share in 2006, it dropped to less than 44% in 2011 and forecasted to touch little less than 43% in 2016.
The report also provides segment-wise market volume and distribution channel-wise market value for each segment.
