Cakes, Cookies, Cupcakes, & Cake Pops: Oh My!
The baking industry generates more than $30 billion in revenue each year. There are just about 5,000 retail bakeries and over 2,500 commercial bakeries. The American Bakers’ Association reports the economic impact of baked goods produced and sold in the U.S. totals $423 billion. Retail bakeries generate around $3 billion in revenue, and commercial bakeries sell approximately $31 billion in products. No matter the size of the company, profits and revenue are ties to successful operational practices. Research suggest, baked goods are big business and families are essential to the industry with households that have 5 or more people who spend 32% more than average US baked goods buyer.