Market Report Bread & Pastry 2025 – Trends, Valuations & M&A
July 21, 2025
The Bakery & Pastry sector demonstrates remarkable resilience in 2025, despite recent economic volatility. The consolidated “Bakery & Pastry Index” has outperformed both the broader food index and global benchmarks over the past five years, reflecting the sector’s stable demand patterns and dependable cash flows.
Valuations of publicly listed companies vary significantly, ranging from businesses with modest margins to premium producers with strong profitability. The median EV/EBITDA multiple stands at approximately 8.7×, while the EV/EBIT reaches around 12.7×. At the same time, leading companies show that even with limited revenue growth, strong margins and operational efficiency can justify higher valuations and sustainable returns.
Clear market trends point toward health, sustainability and product diversification. Categories such as gluten-free, sourdough, and high-protein or high-fiber products continue to grow as consumers increasingly seek “better-for-you” alternatives. In parallel, M&A activity within the sector has accelerated since 2023, with strategic buyers and private equity showing particular interest in sustainable, international and health-focused brands.
For producers, investors, retailers and bakery businesses, the report provides valuable benchmarks on valuations, competitive positioning, sector trends and transaction dynamics. These insights support strategic decision-making related to growth, acquisitions, divestments or operational repositioning.
Would you like full analyses, transaction overviews, current valuation multiples and sector-specific insights?
View the full Bakery & Pastry Market Report Q3 2025 (in Dutch) here.
Related Transactions
Our experience in the bakery and pastry sector is reflected in several transactions that align with the key themes of this market report:
About Yuno Advisors
Yuno Advisors is a corporate finance boutique with a clear focus on Food, Retail & Consumer. We support entrepreneurs, family-owned businesses and investors in sell-side, buy-side and growth transactions. With deep sector expertise, direct partner involvement and a strong industry network, we deliver processes that maximize speed, quality and value.
If you have any questions about this market report or the position of your company within this sector, we are happy to advise you.