News

Hungarian bakeries are at the forefront of both quality and innovation

Published Mar 1, 2024

Tridge summary

Despite facing rising energy prices and global economic challenges in 2022, the Hungarian bakery industry has managed to sustain itself through cost-effectiveness and government support. The industry is seeing an increase in the quality of domestic bakery products, with a focus on product development and meeting consumer needs such as gluten-free and low-carb options. However, bread consumption has decreased due to the pandemic and high inflation, leading to changes in consumer buying patterns. To adapt, the industry is diversifying sales channels, modernizing stores, and expanding product selection.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Smaller bakeries can win over customers with quality products and flexible satisfaction of special consumer needs. According to the overview of the National Chamber of Agriculture and the Hungarian Bakers' Association, it can be concluded that the range of specialist shops is constantly expanding in accordance with consumer needs. A quality improvement can also be observed in the use of raw materials. Last year got off to a gloomy start for the Hungarian bakery industry, but the players in the sector successfully overcame the obstacles. The extreme energy price explosion in 2022, the steep price increase of other inputs – from grain to auxiliary materials –, the jump in wage costs, as well as domestic and global economic difficulties, world political tensions and the war in Ukraine have put small and large companies in a difficult situation. While at the beginning of last year, the profession expected that up to a third of the smaller businesses could cease their activities, ...
Source: Trademagazin
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