Gujarat : Bakery business grew by 20 per cent in lockdown period
Ahmedabad: Demand for bakery products has increased during the corona period. The trend of packaged cakes and homemade cakes is on the rise in every small and big occasion, as well as 20 per cent housewives in Gujarat are adopting bakery products like homemade cakes, chocolates, cookies, biscuits as a source of income and an alternative to the deteriorating economic situation in Corona. According to women entrepreneurs, people are giving preference to home-made hygiene products considering the safety measures due to Corona.
Startups that have started over the last six months have seen 8 to 10 percent growth. With this in mind, housewives can earn an average monthly income of Rs 7,000 to Rs 9,000 by sitting at home. There are chances of growth in this business in the current wedding season.
Shivangi Shah, owner of The CCL Bakery, says that she has been working in the chocolates, cakes and cookies segment for a year and a half, but the demand for homemade cakes-chocolates has doubled in the last six-seven months. The housewives are earning more than Rs 15,000 per month from the bakery business.
Revenue capacity of Rs 2500 crore in the cake segment
According to market experts, the bakery industry’s cake segment has the potential to generate revenue of Rs 2,500 crore annually. According to Madhur Singhal, a practice leader and expert at Consumer & Retail, the segment is seeing annual growth of 20 percent. The share in packaged food brands is increasing. The layered cake segment has seen 22 percent market growth in just two years.
Growth in the bakery industry is expected at an annual rate of 9.3 percent
The bakery industry in India is dependent on the changing lifestyles of the people. The bakery industry is expected to reach 88,000 crore by 2024. The industry will grow at an annual rate of 9.3 percent during 2021-24, said Pinaki Ranjan Mishra, Partner, Consumer Products and Retail, EY India
Market grew because of online marketing
Housewives are resorting to social media to market bakery products. Online marketing business using Instagram-Facebook page, blog, websites business group is getting them orders from all over the city not limited to one area.