According to the latest report by IMARC Group, titled “Cakes and Pastries Market Size: Global Industry Trends, Share, Growth, Opportunity and Forecast 2021-2026”, the global cakes and pastries market reached a value of US$ 124.8 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 4.5% during 2021-2026.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Cakes and pastries refer to bakery products prepared by baking with ingredients, such as sugar, baking soda, flour, eggs, baking powder, etc. Some commonly available pastries in the market are puff, shortcuts, choux, etc. These are generally consumed on ceremonial occasions, including birthdays, weddings, anniversaries, etc. Cakes and pastries are available in various shapes and sizes and can be customized according to consumers’ preferences. They are often baked and are utilized as a crust for pies and tarts.
The elevating levels of urbanization and the escalating demand for decadent food products are primarily driving the cakes and pastries market across the globe. Moreover, the growing working population and inflating disposable incomes have led to the rising consumption of various ready-to-eat food products, such as cakes, pies, and pastries, thereby propelling the market growth. In line with this, continuous experimentation for introducing distinctive flavors of fillings and toppings and the growing demand for customized pastries and cakes is another growth-inducing factor. Furthermore, rising health-consciousness among consumers has led to the incorporation of healthier ingredient alternatives, including whole wheat flour instead of white flour, which is also augmenting the global market. Apart from this, the escalating demand for low sodium, gluten-free, multigrain, and organic bakery products will continue to bolster the cakes and pastries market over the forecasted period.
Cakes and Pastries Market 2021-2026 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the cakes and pastries market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Flowers Foods
- Grupo Bimbo
- American Baking Company
- Euro Cakes
- Hostess Brands
- McKee Foods
- Yamazaki Baking
- Mulino bianco
- Edwards Cake & Candy Supplies
- BreadTalk Group Limited
Key Market Segmentation:
The report has segmented the cakes and pastries market on the basis of product, type, sector, distribution channel and region.
Breakup by Product:
- Artisanal Bakery Products
- In-store Bakery Products
Breakup by Type:
- Frozen Cakes & Pastries
- Sweet Pies
Breakup by Sector:
- Food Service
Breakup by Distribution Channel:
- Convenience Stores
- Supermarkets and Hypermarkets
- Specialist Retailers
- Artisanal Bakeries
- Online Retailers
Breakup by Region:
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Industry Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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