According to the latest report by IMARC Group titled, “Cake and Pastries Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the market is expected to grow at a CAGR of 3.5% during 2019-2024

Cakes and pastries are some of the most widely preferred products in the bakery industry. Among these, cakes are made from the mixture of flour, sugar, eggs, butter and baking soda. On the other hand, pastries are generally fried or baked and are prepared from water, oil and flour. Cakes and pastries are usually consumed on ceremonial occasions, such as a wedding, anniversary and birthday celebrations. They are available in different shapes, flavors and sizes and can be customized according to the preference of the consumers.

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The confluence of various factors, such as rapid urbanization, increasing working population and rising consumer expenditure capacities, have increased the demand for on-the-go food products, which in turn is driving the global cakes and pastries market growth. Moreover, key manufacturers operating in this industry are introducing cakes and pastries with low glucose-fructose levels and a high amount of fibers on account of the growing health consciousness among individuals. Product innovations, such as cake pops, are also being increasingly launched by manufacturers to expand their consumer base. The rising trend of corporate parties and social gatherings, increasing indulgence in food and beverages, and the continual advent of distinctive flavors with reduced portion size and convenient packaging, are some of the other factors that are expected to create a positive outlook for the market.

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Key Market Segmentation:

Breakup by Product Type:

• 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:

• Convenience Stores
• Supermarkets and Hypermarkets
• Specialist Retailers
• Artisanal Bakeries
• Online Retailers
• Others

Breakup by Region:

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America

Competitive Landscape

The report has also examined the competitive landscape of global cake and pastries market. Some of the major players in the market are 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, etc.

Key highlights of the report:

• Market Performance
• Market Outlook
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Competitive Structure
• Profiles of Key Players

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