Baking Industry

The baking industry is a vibrant part of the U.S. economy. It can account for about $311 billion in total economic output or roughly 2.1 percent of GDP. Bakers, product retailers and vendors directly or indirectly employed approximately more than 1.5 million Americans in 2010. These workers earned over $90.2 billion in wages and benefits. Members of the industry and their employees a little less than $40 billion in direct federal, state and local taxes. This does not even include state and local sales taxes imposed on baked goods. Baked goods can include but not limited to cakes, cookies, cupcakes, prepared desserts, pies, tarts, turnovers, sweet rolls, pastries, coffee cakes and doughnuts. Each one these sub classes are considered a separate sector in the market, and have different demographics. For instance, cupcakes reach out to a household with children, whereas coffeecakes reach out to an older generation.