IMARC Group, a leading market research company, has recently releases report titled “Cakes and Pastries Market Report by Product (Artisanal Bakery Products, In-store Bakery Products), Type (Cakes, Frozen Cakes & Pastries, Pastries, Sweet Pies), Sector (Food Service, Retail), Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Specialist Retailers, Artisanal Bakeries, Online Stores, and Others), and Country 2024-2032.” The study provides a detailed analysis of the industry, including the global cakes and pastries market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the Cakes and Pastries Market?
The global cakes and pastries market size reached US$ 141.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 192.8 Billion by 2032, exhibiting a growth rate (CAGR) of 3.4% during 2024-2032.
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What are Cakes and Pastries?
Cakes and pastries are two of the most popular types of desserts consumed across the globe. Both cakes and pastries are made with similar ingredients, such as flour, sugar, eggs, and butter, but they differ in their preparation and presentation. Cakes are typically baked in large pans or molds and are often decorated with frosting or other sweet toppings and come in a variety of flavors, such as chocolate, vanilla, and fruit.
They can be customized for any occasion, including birthdays and weddings and are relished by people of all ages. Pastries, on the other hand, are baked goods that are typically made with flaky pastry dough and filled with sweet or savory ingredients. They can be enjoyed as a sweet dessert or as a savory snack, depending on the filling. Cakes and pastries are often served at special occasions and celebrations and can typically be found in bakeries and cafes.
What are the growth prospects and trends in the cakes and pastries industry?
The rising popularity of customizable cakes and pastries represents a significant factor driving the market growth across the world. In line with this, the rise in the trend toward artisanal bakery products has led to the use of minimally processed as well as natural ingredients in cakes and pastries, which is further contributing to the growth of the market.
The market is also driven by the rising focus of manufacturers on incorporating specialty ingredients, such as whole-grain bread, fruits, and fruit concentrates. This is primarily attributed to the rise in the demand from consumers for healthy ingredients and indulgence without calories. Other factors, such as rising consumer expenditure capacities, the easy product availability, and steadily expanding food and beverage (F&B) sector, are creating a positive outlook for the market.
Who are the key players operating in the industry?
The report covers the major market players including:
- Finsbury
- Flowers Foods
- Grupo Bimbo
- American Baking Company
- Britannia
- Euro Cakes
- Hostess Brands
- McKee Foods
- Yamazaki Baking
- Aryzta
- Mulino Bianco
- Edeka
- Edwards Cake & Candy Supplies
- BreadTalk Group Limited.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product:
- Artisanal Bakery Products
- In-store Bakery Products
Breakup by Type:
- Cakes
- Frozen Cakes & Pastries
- Pastries
- Sweet Pies
Breakup by Sector:
- Food Service
- Retail
Breakup by Distribution Channel:
- Super Markets and Hyper Markets
- Convenience Stores
- Specialist Retailers
- Artisanal Bakeries
- Online Stores
- Others
Breakup by Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Breakup by Country
- Italy
- Germany
- United States
- France
- Ireland
- United Kingdom
- Netherlands
- Australia
- China
- Brazil
- Argentina
- Mexico
- Saudi Arabia
- Africa Region
- Japan
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