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Australia bakery products market revenues increased by 5% CAGR during 2000 to 2010

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PR-Inside.com: 2014-04-01 16:33:05
Australia´s bakery products market grew by 69% over 2000-2010, with a market size exceeding A$12 billion at the end of the latter year. The bakery industry in Australia is still in its growing stage, with market size increasing by an average of over 5% per annum over the review period.

The greatest year-on-year increase was seen in 2008, when sales grew by more than 10%. This growth was mainly associated with the general performance of the country´s economy, and stronger consumer purchasing power in the pre-recession years. Households accounted for two-thirds of total baked goods, while commercial clients accounted for the remainder.

Consumers continued to seek out affordable treats in cakes and pastries during 2010 as they forewent more costly luxuries such as dining out in full-service restaurants. Cakes recorded a higher current value growth rate than pastries, as many people tended to prefer good-quality cakes, especially unpackaged/artisanal varieties, as a means of indulging.

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