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Consumers Have Growing Appetite For Sweets |
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December 22, 2005
In its report, Packaged Facts, projects the sweet baked goods market, which includes shelf-stable, refrigerated, and frozen cookies, pastries, snack cakes, cakes, doughnuts, pies and muffins, will grow modestly over the next five years and reach $12.2 billion by 2010. Between January 2004 and May 2005, the market saw a flurry of activity in terms of new product introductions, including 419 new products. The report says manufacturers are touting their new products as both convenient and indulgent, and are taking a non-traditional approach to advertising them. Because of increasing competition, the report says the new snack products are being targeted to ethnic and generational niches. "This is a fiercely competitive market, and it has grown more so when you take into account the soaring popularity of upscale supermarket in-store bakeries and high-profile doughnut chains, which are actively developing a cult-like following and taking sales away from the retail prepared sector," said Don Montuori, the publisher of Packaged Facts. "With the demise of low-carb, smart marketers are now refocusing their energies on the indulgence desires of Baby Boomers by developing decadent, yet 'healthy,' baked goods that fall into their favorite buzzword categories: gourmet, natural, organic, low-sugar, and low-fat." Report Your Experience
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