The Cake And Pastries by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Cake And Pastries, The cake and pastries market size has grown strongly in recent years. It will grow from $87.78 billion in 2023 to $94.59 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to changing consumer lifestyles, celebration and occasion culture, globalization of food culture, marketing and branding strategies, innovation in flavors and designs, e-commerce and online bakery shops.
The cake and pastries market size is expected to see strong growth in the next few years. It will grow to $125.12 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to customization and personalization, sustainable and ethical practices, focus on premium and artisanal offerings, rise in specialized dietary products, global economic trends. Major trends in the forecast period include digitalization of bakery services, rise in demand for artisanal and handcrafted products, health-conscious baking and ingredient choices, innovative flavor combinations and fusion treats, emphasis on visual appeal and aesthetics.
The rising demand for ready-to-eat (RTE) and packaged foods is expected to propel the growth of the cake and pastries market in the coming future. Ready-to-eat (RTE) refers to a class of food items that have been cleaned, cooked, and most often packed before being made available for consumption. Packaged food includes preserved, canned, frozen, various varieties of meat and vegetables, snacks, and pre-packaged food items. Individuals choose quick or ready-to-eat foods for healthier eating habits due to better lifestyles and living standards. Among the cake and pastry market, packaged and ready-to-eat items such as bread, cakes, pastries, cream rolls, cookies, and biscuits are in high demand due to their availability and ready-to-eat characteristic. For instance, in January 2022, according to India’s Ministry of Commerce and Industry, ready-to-eat food exports climbed by 24% to $ 394 million in 2021-22 (April-October). Furthermore, according to Euromonitor estimate, retail sales in Japan’s packaged food sector is accounted at $216.3 billion in 2022. Therefore, rising demand for ready-to-eat (RTE) and packaged foods is driving the cake and pastries market.
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The cake and pastries market covered in this report is segmented –
1) By Type: Cakes, Frozen Cakes And Pastries, Pastries, Sweet Pies
2) By Distribution Channel: Super Markets And Hyper Markets, Convenience Stores, Online Retail, Bakeries, Other Distribution Channels
3) By Application: Food Service, Retail, Other Applications
Top Major Players
Finsbury Food Group PLC
Flowers Foods
Grupo Bimbo S.A.B. de C.V
Hostess Brands lnc.
McKee Foods Corporation
Product innovation is the key trend gaining popularity in the cakes and pastries market. Major companies operating in the cakes and pastries market are focused on developing innovative products to strengthen their position in the market. For instance, in October 2022, Entenmann’s, a US-based manufacturer of baked products launched Entenmann’s Cake Truffles. Entenmann’s Cookies & Crème Cake Truffles are filled with creamy white chocolate chunks and coated with a layer of silky, smooth chocolaty coating. Entenmann’s Chocolate Delight Cake Truffles are covered with a layer of silky, smooth chocolatey coating. These incredibly indulgent tastes are guaranteed to tickle the mark for all chocolate lovers.
The cake and pastries market report table of contents includes:
1. Executive Summary
2. Cake And Pastries Market Characteristics
3. Cake And Pastries Market Trends And Strategies
4. Cake And Pastries Market – Macro Economic Scenario
5. Global Cake And Pastries Market Size and Growth
…
31. Global Cake And Pastries Market Competitive Benchmarking
32. Global Cake And Pastries Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Cake And Pastries Market
34. Cake And Pastries Market Future Outlook and Potential Analysis
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