Here’s Why You Should Enter into the Indian Bakery Industry
- BY Jaspreet Kaur
Feature Writer, BusinessEx
- Mar 16,2021
- 11 Mins Read
During the pandemic, many people developed a slew of new interests. Several began engrossing into culinary art and honed their skills. Amid all hobbies, millennials have grown inclination for baking. Baking is primarily a rejoicing activity and helps divert minds from stressful professional life.
Baking is also a stress-buster. According to a report by HuffPost, baking aids people in exhibiting their creative expression. Like painting and music, baking helps people get relief from stress as it is a kind of an outlet and way of expression. Apart from being advantageous from body and mind, baking can be a thriving profession as well.
As per a report by Statista, revenue in the bread and bakery products segment amounts to $124,137 million in 2021. The market is expected to grow annually by 4.41 per cent (CAGR 2021-2025). Owing to which, Indian bakery industry is turning into a prospering sector.
Young minds, who possess culinary skills and aspire to become entrepreneurs, can set foot into the bakery industry. One does not have to spend a huge amount to initiate a business. One can easily start a business with INR 5 lakh or less. Besides this, there are various other reasons why aspiring entrepreneurs should start their bakery business.
Baking is one of the important niches in the food processing sector. Over the years, it is growing rapidly and catching investors’ eye. An increase in bakery chains and allied businesses have been witnessed. Recently, Grupo Bimbo SAB de CV acquired Modern Food Enterprises Private Ltd from Everstone Capital.
As engagement is high in the bakery sector, a myriad of business opportunities is present for first-time entrepreneurs.
Sense of Freedom
Unlike a working professional, a baker would not have a tight schedule. A baker can work as per his will and decide the work shift. It is also his choice which type of bakery products he would offer to the people.
Once the business gets off the ground, a baker should avert working intuitively and serve products as per the customers’ preferences. Taking customers’ feedback is important as it will help give a better picture of what the audience wants. It will aid in identifying fallacies in the system and leaving a room for improvement. Also, ask customers what changes they want in the menu or business in its entirety.
Running a bakery gives a sense of liberty as one indulges in all varieties of work, from maintaining hygiene standards to dealing with customers, and comprehends underpinnings of the business. This way a new entrepreneur brushes himself and transits into a leader.
A Cure for Stress
Creating bakery products requires an ample amount of patience and expertise. It takes time, effort and resilience to possess prerequisite skills for bakery. Apart from imbibing culinary skills, a role of baker will help tackle stress and anxiety, which will be beneficial for one’s well being.
These are some of the reasons why young minds, having an inclination for baking, get into the bakery sector. There are various other things that will entice millennials to enter the industry, if you know any other reasons then share in the comment section below.
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