The term 'bakery by-product' refers to any item that is produced as a result of the baking process. The two crossword solutions for this term are 'AROMA' (5 letters) and 'ODOR' (4 letters). An AROMA is a pleasant smell, often associated with food, while an ODOR is an unpleasant smell. Both aromas and odors are common by-products of baking, as the process of heating ingredients can produce both pleasant and unpleasant smells.