The global cakes, pastries, and sweet pies market is projected to grow at a CAGR of 3.9% during the forecast period (2019 - 2024)
Increasing consumption of ready-to-eat food with the conveenience factor, with changing preferences for flavored food products, is pushing the revenue generation in the global cakes, pastries, and sweet pies market.
Introduction of bakery products, including cakes, pastries, and sweet pies, with health claims, such as lower amounts of high-fructose corn syrup and sodium and higher amounts of fiber, is expected to attract consumers to such products, and thus, help the overall market to grow.
Key Market Trends
Convenience of Ready-To-Eat products
The definition of convenience is evolving with dynamic demands from consumers. Cake mixes were one of the bakery products that gave birth to the concept of “convenience”. As evident from the graph, the ingredient level modification is driving the growth of the health category of bakery products in the developed market. The convenience that Cake products offer is increasingly turning multi-faceted, which is expected to continue to evolve in the foreseeable future. The bakery products are also witnessing additional attributes, such as being healthy, ethical, and comforting.
Asia Pacific to Witness Fastest Market Growth
Asia-Pacific is becoming a key market, as rising disposable income, urbanization, and the demand for western-style diets are supporting the growth in sales of baked goods and cakes in particular. China is set to become the second largest baked goods market by the end of forecats period, with cakes being one of the most popular segment. These markets are attractive to major corporates, which see the potential for significant sales growth.
Competitive Landscape
The market vendors are developing new products with an emphasis on Organic and gluten-free variants to increase their market share. The major emerging markets players are targeting leading brands in the matured markets. The bakery manufacturers and brand owners who dominate the domestic markets, are making strategic acquisitions of the market leaders, and often iconic brands, in more mature and sophisticated markets. Acquiring these brands enables diversification and gives these players access to stable cash flows and further growth opportunities.
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Increasing consumption of ready-to-eat food with the conveenience factor, with changing preferences for flavored food products, is pushing the revenue generation in the global cakes, pastries, and sweet pies market.
Introduction of bakery products, including cakes, pastries, and sweet pies, with health claims, such as lower amounts of high-fructose corn syrup and sodium and higher amounts of fiber, is expected to attract consumers to such products, and thus, help the overall market to grow.
Key Market Trends
Convenience of Ready-To-Eat products
The definition of convenience is evolving with dynamic demands from consumers. Cake mixes were one of the bakery products that gave birth to the concept of “convenience”. As evident from the graph, the ingredient level modification is driving the growth of the health category of bakery products in the developed market. The convenience that Cake products offer is increasingly turning multi-faceted, which is expected to continue to evolve in the foreseeable future. The bakery products are also witnessing additional attributes, such as being healthy, ethical, and comforting.
Asia Pacific to Witness Fastest Market Growth
Asia-Pacific is becoming a key market, as rising disposable income, urbanization, and the demand for western-style diets are supporting the growth in sales of baked goods and cakes in particular. China is set to become the second largest baked goods market by the end of forecats period, with cakes being one of the most popular segment. These markets are attractive to major corporates, which see the potential for significant sales growth.
Competitive Landscape
The market vendors are developing new products with an emphasis on Organic and gluten-free variants to increase their market share. The major emerging markets players are targeting leading brands in the matured markets. The bakery manufacturers and brand owners who dominate the domestic markets, are making strategic acquisitions of the market leaders, and often iconic brands, in more mature and sophisticated markets. Acquiring these brands enables diversification and gives these players access to stable cash flows and further growth opportunities.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
This product will be delivered within 2 business days.
Table of Contents
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY3 EXECUTIVE SUMMARY7 MARKET OPPORTUNITIES AND FUTURE TRENDS
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- American Baking Company
- Britannica, Inc.
- Euro Patisserie
- General Mills Inc.
- Flowers Foods, Inc.
- George Weston Limited
- Grupo Bimbo
- Tyson Foods (Hillshire Brands Company)
- Hostess Brands, LLC.
- McKee Foods
Methodology
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