The 3rd edition of the Gira

European Bakery Company Panorama

2006 - 2011 - 2016 - 2021
Bread – Viennoiserie – Patisserie – Savoury Pastry
Fresh, Packaged & Bake-off – Industrial & Artisanal
Markets – Players – News – Trends
for 28 European countries + Turkey & Russia
The Whole Bakery Sector at Your Fingertips

A multiclient study completed in September 2017, for:

• Bakery Companies
• Millers and Bakery Ingredients Manufacturers
• Wholesalers and Importers in the Bakery Chain
• Modern and Specialist Retailers
• Equipment and Machinery Suppliers
• Banks and Investment Funds

13, chemin du Levant F - 01210 Ferney-Voltaire Tel : (33) 4 50 40 24 00 Fax : (33) 4 50 40 24 02

E-mail : a.fremaux@girafood.com Web site : www.girafood.com

October 2017 © Gira 2017 1

 What is the Gira European Bakery Panorama?
Unique information & perspective at a low price

This Panorama is a focused, one-stop source of all the fundamental industry and market data you need on European
bakery chain, together with informed opinion on what it means.
Through it, you will be able to follow and fully comprehend the major events in the Bakery sector, with perspectives at both pan-
European level and for each of the countries covered.

It is the only pan-European industrial bakery data source on the real industrial bakers (not breakfast cereal & biscuit
manufacturers). It is a user-friendly and very value-for-money source of all the basic information about your sector in Europe.

The Panorama contains an array of relevant corporate, structural and market information that you generally cannot
find elsewhere, and certainly never in one place:

• It covers separately the four major bakery products: Bread, Viennoiserie, Patisserie and Savoury Pastry with key data on all
the markets and the events that are shaping the business
• It concentrates on the bakery industries of Europe and situates each of the main bakery companies in the context of its
major competitors and by technology (fresh, packaged, bake-off).

Whichever of the bakery products and technologies you are active in,
your sector is given full coverage in the Panorama.
Whatever your role in the European bakery supply chain – miller – ingredient manufacturer –
industrial baker – wholesaler – retailer – caterer – equipment supplier or investor –
this Panorama is the unique source of comprehensive, easy-to-access, coherent and comparable
information that you need to manage and plan your business.

HIGHLY OPERATIONAL – all the KEY FACTS at your FINGERTIPS

October 2017 © Gira 2017 2
 A full-coverage study of the European
bakery markets & industry
Scope
Products All bakery products & technologies: products (bread, viennoiserie, patisserie, hot savoury snacks); fresh unpackaged & packaged;
storage forms (fresh, frozen, chilled & ambient); production methods (scratch artisanal & in-store: industrial fresh, bake-off & packaged)
Markets All distribution circuits: modern & traditional retail, foodservice & bakery chains
Countries EU-27 + United Kingdom, Norway, Switzerland, Turkey & Russia
When 2006 – 2011 – 2016 – trends through 2021.

What you get

1. PAN-EUROPEAN SYNTHESIS (125 pages) ♦ A unique & comprehensive overview of the European bakery industry
• League tables of the major bakery companies, ranked by group turnover & by main technology
• All the important news and events on the European bakery industries & markets, over the last 5 years
• Bakery markets summary tables: European consumption, distribution & production structure for each bakery product & trends
• Overview of the dynamics which are driving the European bakery industry, & of the strategies of the main players.
2. COUNTRY REPORTS (1'300 pages) ♦ The description of the bakery markets & industry structures
• Market context: consumption trends & historical split according to the product and technology used (fresh, packaged)
• Distribution channels: retail (modern, traditional) & foodservice (commercial, social, bakery chains)
• Production structure breakdown: artisan bakers, modern retailers' in-store scratch baking & industrial bakers (fresh, packaged & bake-off
products)
• 2021 trends for all of the above elements & for all bakery products
• All the major events affecting your industry over the last 5 years
• List of the main industrial bakery companies – with their production structure overview.
3. BAKERY COMPANIES PROFILES (280 pages) ♦ A focused review of each of the 103 major European industrial bakers.

Timing & Cost

Timing Completion September 2017.
Cost Full subscription is Euros 12'500 (before any tax) for the whole report. Options are available page 14.

October 2017 Contact: Anne Fremaux Tel. +33 4 50 40 24 00 e-mail a.fremaux@girafood.com 3

 Contents of this Proposal

1. Background and Issues 5

2. Objectives of the Panorama 7

3. Scope and Coverage 8

4. Structure and Contents of the Reports 10

5. Methodology and the Gira Team 13

6. Timing, Price, Reports and Follow-up 14

7. Gira's clients in the Bakery Sector 15

Appendix: some extracts from Panorama 2017 Country Reports & EU Synthesis 16

October 2017 © Gira 2017 4

 1. Background and issues
The European bakery markets are enormous and face major challenges
Bakery products consumption by product
Gira estimates that the EU-27 + UK market for bread, viennoiserie, patisserie
and savoury pastry snacks amounted almost 40 million tons in 2016.
The Panorama presents and comments all the major developments in this
globally mature market, with an assessment of their importance for the future:
• Relative share of fresh unpackaged versus packaged products, which has direct
consequences on the industrial bakery structure
• Consumption dynamics creating niche markets: bread vs. other bakery products, basic
vs. premium offering, health concerns, on-the-go, green issues etc.
• Strong changes in distribution, with tough competition amongst players: Bakery products distribution structure

− Any future for artisan bakeries?

− Increasing baking activities of the discounters, pushing pressure on mainstream retailers
− Huge expansion of bakery chains and coffee-shops
• Any new trends in supply strategy options:
− Back to scratch baking or back to buying fresh finished bakery products?
− Is bake-off at a turning point?

Bakery products consumption by country & by technology

Bakery products supply structure

October 2017 © Gira 2017 5

 The production strategy options are constantly changing –
requiring up-to-date insight and information
A standard production breakdown is used as the framework for our overview of the industrial structure and perspectives of
each bakery product in each country – as well as for showing their relative importance at European level.
Viennoiserie supply structure – Country – 2006, 2011, 2016, 2021(f) Bakery products supply structure by country - 2016
Δ 06/11 Δ 11/16 Δ 16/21
('000 tons baked weight) 2006 2011 2016 2021f
(% pa) (% pa) (% pa)
Artisan bakers 95 93 82 79 -0.3% -2.6% -0.7%
Artisanal Retailers in-store 1 4 5 6 30.8% 6.8% 3.3%
supply Others* 6 11 13 14 12.1% 3.5% 2.8%
Total artisanal 101 107 99 Tables and graphs are
99 1.1% -1.5% 0.0%
Industrial fresh 83 100 104 111 3.7% 0.9% 1.2%

Industrial
Bake-off 17 32 47 available for each bakery
60 13.0% 8.3% 5.1%
Packaged long life 38 52 58 64 6.6% 2.1% 1.8%
Supply
Packaged to bake 7 10 11 product in each country
13 7.6% 2.8% 3.0%
Total industrial 145 193 221 247 5.9% 2.7% 2.3%
Total 246 301 320 346 4.1% 1.3% 1.6%
*: other retail, bakery chains & foodservice sectors
Source: Gira compilation

As of 2016, industrial supply accounted for over 65% of

total bakery products consumption in Europe,
against 35% for artisanal manufacturers. The biggest industrial bakers and their bakery activities
But the supply structure varies greatly between countries.

bakers and their main

The leading industrial
In this context, bakery companies have to adapt to the changing
supply structures, with slightly opposite production strategies.

activities
The study updates information on:
• The various bakery activities of the top 100 bakery groups, with exclusive
breakdown of their activity between: fresh, packaged and bake-off
• The emergent bakery groups and those divesting from bakery operations
• And of course an overview of all consolidations and reorganisations.

October 2017 © Gira 2017 6

 2. Objectives of the Panorama

Our objective in preparing this third edition of the Panorama was to provide bakery industry operators and other stakeholders
with essential information on the main European bakery companies and their markets:
• Coverage in each Country Report begins by setting the scene, with macro-sectoral forecasts in the framework of
historical consumption by bakery product and by presentation (e.g. fresh unpackaged vs. packaged products etc.) which
immediately provides the market context in which the industrial bakers are operating
• Each bakery product distribution structure is detailed, with emphasize on the main trends (e.g. growth of hard-discount
and bakery chains)
• The markets are segmented in terms of main supply technology (e.g. scratch artisanal vs. bought fresh vs. baked-off,
packaged ambient vs. packaged to bake) for each bakery segment in each country
• There is also a specific section of profiles of each of the 103 leading industrial bakery producers
• We have also updated the “league tables” of all the major European bakery groups. This is highly useful tool, with so
much consolidation, restructuring and cross-border activity taking place.

There is a real need for more information in the bakery sector. It needs to be reliable, up-to-date and affordable:
• Comparable, and in perspective: we have adopted standard product and technology definitions, and units of measure
throughout, with clear indications of what each figure means. This is the only way to ensure international comparability
• Up-to-date: the current 2016 situation with 2021 trends
• Easy to use: each Country Report & each Profile follows the same structure, to simplify comparison and make the Panorama
easy to read and to use
• Of practical use: the information & trends that every operator needs – succinct and operational
• Authoritative: over the last 35 years, Gira has built up a unique databank of comparable bakery company and market
information. This Panorama is the product of just one part of our European and bakery knowledge.

The Panorama provides transparency in an industry which is still clouded by secrecy and reticence to disclose figures…
yet which is rapidly becoming more international and ever more concentrated.

October 2017 © Gira 2017 7

 3. Scope and Coverage

Since its first research on European bakery markets in 2001, Gira has been using the same product categories, distribution
channels and production methods in each country, in order to standardise product definitions and thus allow international
comparison.

Gira's bakery products categories

Bread
• White bread Consumer products categories (at consumer level)
• Special bread
Fresh products (un-packaged or packaged at the point of sales,
• Soft bread
shelf-life 1 day)
Viennoiserie Packaged "long-life" products (ambient, packed at industrial
• French laminated: croissant, pain chocolate level, branded, shelf-life over 2 days)
• Danish pastries
• Risen dough: brioches, milk bread Packaged products to bake at home (chilled, frozen or
ambient, branded, need final baking/thawing at home).
• Fried dough: doughnut, berliner
Patisserie
• Cakes, madeleines
• Tarts and pies Distribution channels
• Multi-layered cream pastries Retail
• Chou pastries • Traditional retailers: artisan bakers, confectioners
• US pastries • Modern retailers: hyper- & supermarkets, hard discount
Savoury pastry snacks • Other retail: small grocery stores, petrol stations and
• Puff pastries convenience stores
• Tarts and pizzas Foodservice
• Bread based. • Commercial restaurants and hotels (HoReCa), fast-food
And in each Country Report, photos are given of the main • Social foodservice: education, health/welfare, workplace
products in each Gira product category, "for the avoidance of • Bakery and sandwich chains.
doubt".
Biscuits and cereals are NOT included.

October 2017 © Gira 2017 8

 Scope and Coverage (2)

Production methods Countries

The different production and supply methods are clearly The Study covers all aspects of bakery products –
identified. consumption, distribution, production, etc. in:
Artisanal production: scratch baking at the point of sales EU-27 Member countries + United Kingdom
• Artisan bakers scratch baking Norway, Switzerland
• Modern retail in-store scratch baking Russia, Turkey.
• Other retail and foodservice scratch baking
Industrial production:
• B2C - Packaged long-life ambient
• B2C - Packaged to-bake: ambient, chilled or frozen Time horizon
• B2B - Fresh finished products: daily delivered to the stores or Historical series: 2006-2011
restaurants, to be re-sold as fresh Current situation: 2016
• B2B - Bake-off products: semi-finished products, to be baked at
the point of sales and sold as fresh.
2021 trends.

Industrial bakers
There is a specific section of three to four-pages profiles of
each of the 103 leading industrial bakery producers.
The Pan-European Synthesis provides League tables of the
major bakery companies, by group turnover and by main
technology:
Overall: top 137 companies
Fresh: top 43 companies
Bake-off: top 67 companies
Packaged (long-life & to-bake): top 66 companies.

October 2017 © Gira 2017 9

 4. Structure and Contents of the Report

The Report consists of the following sections:

1. Pan-European Synthesis 125 pages
2. EU-27 Country Reports + UK, NO, CH, TK & RU 1'300 pages
3. Profiles of the top 103 Bakery Companies 280 pages
1. The Pan-European Synthesis
1. Bakery products and bakery companies News – all the major events affecting the European bakery chain since 2012
2. Market context: Summary tables of European consumption, distribution, supply methods and production – including 2021 trends
3. Price graphs: by product and by country
4. Top industrial bakery groups League Tables: ranked by overall turnover and by technology (fresh, packaged, bake-off).

2. Country Reports (about 50 pages each)

1. Highlights Tables and Figures
• Key figures Highlights
• Recent structural developments and outlook • Socio-economic background: 2006-2011-2016-2021f
• Overall food distribution structure: 2006-2011-2016
2. Background
• Main modern retailers: 2015/2016
• Demographics and economy
• Bakery consumption by product and by technology: 2006-2011-2016-2021f
• Food consumption trends
• Bakery products distribution channels (total and fresh): 2016 & 2021f
• Distribution overview
• Bakery products production structure (total and fresh): 2016 & 2021f
3. Bread Tables and figures as below for: bread, viennoiserie, patisserie and
• Bread consumption dynamics savoury snacks
• Bread distribution channels – total and fresh • Consumption by technology: 2006-2011-2016-2021f
• Bread supply structure – total and fresh • Distribution channels (total and fresh): 2016 & 2021f
4. Viennoiserie: as above • Production structure: 2006-2011-2016-2021f
5. Patisserie: as above • Share of bake-off in fresh bakery products consumption: 2016 & 2021f
6. Savoury pastry snacks: as above Industrial production:
7. Structure of the industrial bakery sector • Industrial bakery products production: 2006-2011-2016-2021f
• Industrial production • Exports, imports and net trade for selected bakery products: 2011/2016
• Imports and exports • Top industrial bakery products producers: 2015/2016.
• Key operators and company events.
October 2017 © Gira 2017 10
 Report structure:
Contents of the Profiles
3. Profiles of all the Major Bakery Companies (3 pages each)

103 of the largest European Bakery companies have been profiled.

Each profile comprises the following elements, where available:

1. Basic information
• Address, website
• Key information 2016 (turnover, structure, ownership, main markets etc.)

2. Brief historical comment

3. Bakery products activities

4. Manufacturing activity
• By type of bakery product and by technology (fresh, packaged, bake-off)

5. Product range and technologies

6. Distribution channels and export activities

7. Financial overview

8. Main recent events

9. Apparent strategy

October 2017 © Gira 2017 11

 Report Structure:
The top 103 European companies profiled
There follows the list of companies that have been profiled in this 3rd edition of the Panorama.
Company Country Company Country Company Country
ABF Grain Products Ltd UK Eti Gida TR Lantmännen Unibake SE
Ankerbrot AT Europastry ES Vaasan Oy FI
Aryzta Bakery CH Fazer Leipomot Oy FI Lieken DE
Aryzta AG* DE Fazer RU Lotus Bakeries BE
Aryzta Polska PL Ferrero SpA IT Lu FR
Aryzta Food Solutions IRE Finsbury Food Group plc UK Mademoiselle Desserts FR
Bachmeier DE Fornetti Ltd. HU Mantinga LT
Bakehuset AS NO Forno D'Asolo SpA IT Mlinar HR
Barilla Group IT Forns Valencians ES Neopanpor PT
Bauli SpA IT Glockenbäckerei DE Neuhauser FR
Bellsola ES Greggs plc UK Ölz AT
Berlys ES Grupo Siro ES Orkla NO
Bimbo PT Gunnar Dafgard SE Pågen SE
Bimbo ES Halk Elmek IHE TR Panstar ES
Bindi SIPA SpA IT Hanzas Maiznīca LV Papadopoulos GR
Borgesius-Bakkersland NL Harry Brot AG DE Pat the Baker IRE
Boromir IND RO Harrys FR Penam CZ
Bridor FR Hlebozavod 28 RU Penam a.s. SK
Brioche Pasquier FR Hovis Ltd. UK Perviy Hlebokombinat RU
Cérélia FR Inter Europol PL Piekarnia Oskroba PL
Ceres Ltd. HU Jacquet Brossard FR Premier Foods -Sweet Treats division UK
Chipita GR Joseph Brennan Bakeries IRE Sammontana SpA (3) IT
Coppenrath & Wiese DE Jowa CH Simid - 1000 BG
Country Style Foods Ltd UK Karavay RU Sinnack DE
CSM (UK) Ltd UK KBK Cheremushki RU Steinecke DE
DanCake PT KDV Group RU Ströck AT
Délifrance FR Kohberg DK United Bakeries CZ CZ
Délifrance Italia Srl IT Kuchenmeister DE Uno TR
Dobrudjanski Hliab BG La Lorraine BE Vandemoortele Bakery Products BE
Dulcesol ES La Lorraine Polska PL Vandemoortele Bakery Products FR FR
Dutch Bakery NL La Lorraine A.S. CZ Vandemoortele IT
East Balt Bakeries TR Lantmännnen Unibake DK DK Vel Pitar RO
Edeka Bakeries DE Lantmannen Unibake UK Ltd UK Warburtons Ltd UK
Zagrebacke Pekarne HR
Elbisco GR Lantmännen Unibake BE
Žito SI

October 2017 © Gira 2017 12

 5. Methodology and the Gira Team

METHODOLOGY

Gira has been researching European bakery markets and industries on a continuous basis since 1978.
Our researches has included:
• Major multi client programmes all along the bakery supply chain: e.g. Bakery Company Panorama, Bakery Strategies in
Modern Retail, Bakery Ingredients, etc.
• Bake-off Bakery Markets in Europe study forecast and analyses; normally repeated every 5 years (last updated in
December 2015)
• A wide variety of proprietary consultancy mandates, in all products and on all aspects of the bakery chain.

All of this is enriched by Gira’s ongoing work in other food sectors and by its consulting and research in the areas of consumer
preferences, health, retail and foodservice.

We have an unrivalled data bank on bakery markets, and most of the large bakery companies and bakery associations have
been clients of our research programmes, giving Gira access to key industry players throughout Europe.

For the Panorama, Gira has supplemented this knowledge with extensive trade interviews and desk and online research.

STAFFING

The Gira team is supervised by Anne Fremaux, the Director responsible for all of Gira’s bakery research projects and well-
known for her expertise throughout the European bakery sector.

Our team consists of Gira consultants with wide experience in the bakery sector, retail and foodservice, each of whom has an
intimate knowledge of the individual country market and industries for which he/she is responsible.

Most of the Gira team had also worked on the 2012 edition of the Panorama and on the 2015 edition of the Bake-off study.

October 2017 © Gira 2017 13

 6. Timing, Subscription Price, Reports and Follow Up

TIMING
The Study has been published in September 2017.

SUBSCRIPTION PRICE
Full subscription: Euros 12'500 (before any applicable taxes), giving access to:
• Pan-European Synthesis
• 30 Country Reports
• 103 Bakery Company Profiles
• Excel database gathering all market figures (consumption, distribution and production structure).
Basic subscription: Euros 9'900 (before any applicable taxes), giving access to:
• Pan-European Synthesis
• EU-27 Member + UK Country Reports
• 92 related Bakery Company Profiles.
Additional options are available:
• Country Report + related Company Profiles: Euros 1'500 (1 country) – Euros 2'500 (2 countries) – Euros 3'300 (3) – Euros 4'000 (4)
• Excel database: Euros 1'000 (available only for basic subscription).

REPORTS
The reports are all in English.
Clients will receive an electronic version of the reports in searchable and printable PDF format.
Hard copies are available at an additional cost of Euros 400 per copy.

FOLLOW UP
With the full subscription option, Gira will be pleased to make a tailored, half-day presentation/workshop of the findings and
conclusions of the Panorama for clients in their offices in Europe. Only travel expenses will be charged at cost.

October 2017 © Gira 2017 14

 7. A sample of Gira’s ‘blue-chip’ clients in the bakery
sector
AB-Mauri IE European Union EUR Neuhauser BCS FR
AIBI Aisbl EUR Fazer FI Nudespa ES
AIT Ingrédients FR Fedima EUR Nutrixo-Grds Moulins Paris FR
Ankerbrot AT Ferrero FR Oetker-Condifa Ancel DE
Artadi Alimentacion ES Friesland Campina NL Orkla Food Ingredients NO
Aryzta CH Gemef Industries FR Pagen SE
Asemac ES Gourmand BE Panotel FR
Atrian Bakers ES Holder-Château Blanc FR Panamar Panaderos ES
Bellsola ES Ingredion DE Panzani FR
Berly's ES Intermarché FR Pasquier FR
Bimbo ES Ipasa ES Pastisart ES
Bridor FR Irinox IT Puratos PatisFrance BE
Carrefour FR JBT Food Tech SE Phil Savours FR
CEBP Aisbl EUR Kerry Ravifruits FR Pomona FR
Ceres HU La Lorraine Bakery Group BE Rabobank NL
CNIEL FR Lantmännen Unibake DK Rademaker NL
Cofalec EUR Leclerc Galec FR Rich Products Corp. USA
Complet FR Lesaffre FR Royale Lacroix BE
Confédération de la Boulangerie FR Lieken AG DE Sasa Industries FR
Coppenrath & Wiese DE Limagrains FR Smilde Bakery NL
Corman BE LLI Goodmills AT Solvay Aroma Performance FR
CSM Bakery Supplies NL Mademoiselle Desserts FR Système U FR
Danisco Dupont Nutrition DK Mane FR Transgourmet FR
Dawn Foods NL Mapple Leaf Foods CA Unigrà IT
Délifrance FR Mc Key Holdco FR Unigrains FR
Dutch Bakery NL Mecatherm FR Vaasan FI
East Balt DE Mitsui & co Benelux BE Valora CH
EDF FR Mondial Forni IT Valrhona FR
Eurogerm FR Monoprix FR Vandemoortele BE
Europain FR Moulins Soufflet FR Wolf Butterback DE
Europastry ES Nederlands Bakkerij Centrum NL Yamazaki Baking JP
European Flour Milling Association EUR Nestlé France FR Zeelandia NL

October 2017 © Gira 2017 15

 APPENDIX:
Some extracts from the Panorama Reports
Country Reports Synthesis
Total bakery products consumption breakdown - Spain
Δ 06/11 Δ 11/16 Δ 16/21
('000 t) 2006 2011 2016 2021f
(% pa) (% pa) (% pa)
Bread 2,300 2,162 2,123 2,126 -1.2% -0.4% 0.0%
Viennoiserie 474
Bread
512
distribution
538 555
channels
1.6% 1.0%
–0.6%
The Netherlands 2016
Patisserie 225 240 253 252 1.3% 1.1% -0.1%
Savoury pastry 47 56 62 69 3.6% 2.1% 2.2%
Total 3,046 2,970 2,976 3,002 -0.5% 0.0% 0.2%
Fresh 2,457 2,319 2,285 2,294 -1.1% -0.3% 0.1%
Packaged long life 539 591 621 629 1.9% 1.0% 0.3%
Packaged to bake 50 59 70 79 3.6% 3.3% 2.4%
Total 3,046 2,970 2,976 3,002 -0.5% 0.0% 0.2%
Source: Gira compilation

Industrial bakery products production - Estonia

('000 tons baked weight - raw Δ 06/11 Δ 11/16 Δ 16/21
2006 2011 2016 2021f
weight for bake-off) (% pa) (% pa) (% pa)
Industrial fresh 3 4 4 4 3.0% 2.7% 1.0%
By Bake-off 6
Patisserie
9 12
production
15 7.7%
methods
6.0% 4.1%
– Hungary - 2021
Technology Packaged long life 63 69 71 69 1.9% 0.4% -0.5%
Packaged to bake 1 1 2 2 11.0% 8.4% 3.5%

Top bakery companies – Denmark – 2015/2016

2015 t/o 2016 t/o Products Distribution channels Export Technologies
Company
Fresh Bake-off Packa-
(EUR mio) (EUR mio) B V P SP Others RET WHOL OOH SHOP % t/o
B2B B2B ged B2C
Kohberg 127 127 xxx xx x x xx xx xx 10% x xxx xxx
Lantmännnen Unibake DK 123 185 xxx xx x x xx xx xx 15% x xxx xxx
Dan Cake 104 114 xxx xx xx xxx
Easyfood 29 35 xx xx xx xxx xx xx xx 12-15% xxx
Source: Gira compilation

October 2017 © Gira 2017 16