And just like that, we’re saying goodbye to 2024: a year that has been nothing short of a rollercoaster for the bakery and snacks sectors. From jaw-dropping deals to some truly tough challenges, this year has proven that resilience and adaptability are what keep these sectors thriving.

One of the year’s most significant developments has been Mars’ acquisition of Kellanova – a groundbreaking move that shook the industry and signalled a new wave of consolidation and strategic growth. Yet, just as this deal seemed poised to dominate headlines, Mondelez International made waves with its approach to acquire The Hershey Company. As of this writing, the Hershey Trust Company (which holds controlling ownership of the confectionery giant) has rejected the offer, calling it insufficient. This isn’t Mondelez’s first attempt to court Hershey; in 2016, the snack giant made a similar bid, only for it to be declined by Hershey’s board. Industry watchers are now eagerly anticipating whether Mondelez will come back with a revised offer.

Meanwhile, Canada’s bread price-fixing saga reached another dramatic chapter, serving as a stark reminder of the importance of fair practices in business. Legal battles kept the headlines buzzing, with Lindt’s lead controversy sparking fresh debate on food safety, while Mondelez had its day in court defending its authenticity claims. And let’s not forget the political shake-ups: Robert F. Kennedy Jnr’s controversial regulatory appointment will undoubtedly add another layer of complexity to the year ahead.

Talking of which, regulation has been a major theme in 2024, with both the US and Europe tightening the reins. Stricter nutritional labelling laws and ingredient restrictions reflect a growing consumer demand for transparency and safety. California’s proposed additive ban is already reshaping formulations and could signal wider changes to come. Across the Atlantic, the UK’s Plastic Packaging Tax puts sustainability into sharp focus, though not without increasing costs for businesses striving to comply.

It’s been a banner year for progress in the sustainability space. Grupo Bimbo’s advances toward net-zero carbon emissions and the growing emphasis on regenerative agriculture show the industry’s commitment to a greener future. At the same time, consumers have embraced products that bridge indulgence and health. Functional snacks, fibre-enhanced breads and low-glycaemic treats are no longer niche – they’re everyday essentials. AI and social media have also played starring roles in amplifying these trends, giving brands new ways to connect with health-conscious shoppers.

But let’s not sugarcoat it – the industry has faced some tough challenges, too. Production costs soared this year, with prices for staples like sugar, eggs and butter climbing as much as 77% over pre-pandemic levels. Labour shortages continued to stretch resources, pushing many businesses to invest in automation and rethink recruitment strategies. These pressures have been daunting, but the industry remains resilient. In fact, the European Snacks Association (ESA) is optimistic about the sector’s future, while the American Bakers Association (ABA) declared the US baking industry to be stronger than it was five years ago.

As we look to 2025, it’s clear this industry is ready to tackle whatever comes next. Whether it’s adapting to evolving consumer demands, harnessing the power of AI or navigating the complexities of shrinkflation, one thing is certain: innovation will continue to drive success.

To our readers, thank you for making Bakery&Snacks your trusted source of industry insights. Your support keeps us motivated to deliver the news and trends that matter most. Here’s to a holiday season filled with joy and to a 2025 brimming with new opportunities. We can’t wait to see what’s ahead!