ROCKVILLE, MD. — Home baking product sales increased in 2022, according to Packaged Facts.
The market research firm published its December 2022 National Online Consumer Survey that revealed that most consumers regularly baked in 2022. The report estimated that 31% of people baked at least once a week and 24% of people baked one or twice a month in 2022.
The increase in home baking followed a year of declining sales for baking products such as frozen pizzas, dairy milk and flour, Packaged Facts said. The drop in sales in 2021 most likely reflected consumers growing tired of baking at home or because their regular activities began to resume outside of their homes, Packaged Facts said.
The downtrend in 2021 was in contrast to 2020, when Packaged Facts’ survey revealed a rapid increase in home baking product sales due to the coronavirus (COVID-19) pandemic that led many people to spend more time baking at home.
Packaged Facts’ “Home Baking: US Trends and Opportunities” report suggested that high inflation in 2022 increased the prices of most food and beverage products and caused their “dollar sales” to rise. While the report said recent home baking activity is not as high as it was in 2020, it did find that home baking activity is more popular than it was pre-pandemic.
Packaged Facts said it expects the home baking products market will reach $78.3 billion in 2027.