The global cakes and pastries market is expected to grow at a CAGR of 3.5% during 2019-2024. Cakes and pastries are among the most popular products in the bakery industry. A cake is a sweet dessert which is baked using ingredients such as sugar, flour, eggs, margarine, baking powder and baking soda. It is often consumed on ceremonial occasions such as birthdays, weddings and anniversaries. Available in different shapes and sizes, cakes can be customized according to the preference of the consumer. On the other hand, a pastry is a dough of flour, water and oil that can be both sweet and savory. Pastries are often fried or baked and are used as a crust for pies and tarts. Puff, shortcuts and choux are some of the most common types of pastries available in the market.
The growing urbanization and high demand for decadent food products are the key factors driving the growth of the market. Furthermore, the increasing working population and rising disposable incomes have led to the escalating consumption of ready-to-eat food products such as cakes, pies and pastries, thus further augmenting the sales. Additionally, continual experimentation for the introduction of distinctive flavors of fillings and toppings, coupled with the increasing demand for customized pastries and cakes, is catering to a wide and diversified consumer base. Moreover, increasing health-consciousness among consumers has led to the incorporation of healthier ingredient alternatives, such as whole wheat flour instead of white flour. Along with this, the burgeoning demand for low sodium, gluten-free, multigrain and organic baked products is also propelling the market growth.
IMARC Group’s latest report provides a deep insight into the global cakes and pastries market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the cakes and pastries market in any manner.
The report has also analysed the competitive landscape of the market with some of the key players being Finsbury, Flowers Foods, Grupo Bimbo, American Baking Company, Britannia, Euro Cakes, Hostess Brands, McKee Foods, Yamazaki Baking, Aryzta, Mulino bianco, Edeka, Edwards, BreadTalk Group Limited, etc.
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