The global cake market is expected to witness a CAGR of 3.3%, during the period 2018-2023, and is expected to value at USD 75 billion, by 2023. Manufacturers are including healthy ingredients in their cake products in order to gain competitive advantage. The sale of large cakes have been on the decline, as customers are favoring of smaller ones.
As a major development in the marketplace, at the end of October 2014, Fletchers became a part of Finsbury, largest supplier of premium cakes in UK, and contributed GBP 16 million to sales in two months.
The increasing popularity of customizable cakes is the driver for global cake market. With the rise of in-store bakeries and innovative product offerings from the small, regional, and international suppliers, the cake market is making its presence felt, globally. The recent trends of designer cakes and continuous innovations in cakes are likely to boost the market.
Health issues in line with the growing concern for obesity, other related diseases, and regulatory constraints pertaining to the product labelling pose a threat to the global cake market. The increase in home bakers further reduces the demand for packaged cakes. Food perishability remains a key challenge for the cake industry.
The increase in online sales and demand for innovation would further help in cake market growth in the future. In addition to this, there is an increased demand for affordable, healthier and freshly baked cakes. Cake pops, a snack, is gaining popularity and is available in grocery stores and coffee shops. The idea of customizable cakes is a key factor contributing to the growth of this market.
The global cake market is segmented based on flavors, product type, distribution channels, and geography. Decorated cakes and dessert cakes together account for the majority of the market demand for cakes, globally. The chocolate cakes are preferred to other flavors, and contribute the most to revenue generation. The market for cakes is highly fragmented, due to the presence of a large number of regional and international suppliers. The vendors compete for innovation, pricing, and distribution.
Globally, the North American and European economies have been the key revenue generators in the global cake market, followed by Asia-Pacific.
- March 2018 - Café Valley® is partnering with the Hershey Company to introduce a decadently delicious snack size coffee cake bite that is equal parts brownie and cheesecake, with a sprinkle of chocolate. The coffee cake bites is made with Hersheys chocolate, and is of cocoa flavor.
Reasons to Purchase this Report
- Analyzing outlook of the market with the recent trends and Porters five forces analysis
- Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
- Market segmentation analysis, including qualitative & quantitative research incorporating the impact of economic & non-economic aspects
- Regional and Country level analysis integrating the demand and supply forces that are influencing the growth of the market
- Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- 3-month analyst support, along with the Market Estimate sheet (in excel)
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1.1 Research Methodology
1.2 Definition of the Market
1.3 Report Description
2. Key Findings of the Study
3. Market Overview
4. Market Dynamics
4.1.1 Growing Trend for Customized Cakes
4.1.2 Rise of In-Store Bakeries
4.2.1 Growing Health Concerns
4.2.2 Low Shelf Life
4.3.1 Demand for Innovative Products
4.3.2 Increasing Demand for Freshly Baked Cakes
4.3.3 Increasing Online Sales of Cakes
4.4 Porters Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
4.5 Consumer Behavior Analysis
5. Market Segmentation
5.1 By Product Type
5.1.1 Sponge cake
5.1.2 Cup Cake
5.1.3 Dessert Cake
5.2 By Flavor
5.3 By Distribution Channel
5.3.1 Online Sales
5.4 By Geography
5.4.1 North America
22.214.171.124 Rest of North America
126.96.36.199 Rest of Europe
188.8.131.52 Rest of Asia-Pacific
5.4.4 South America
184.108.40.206 Rest of South America
220.127.116.11 South Africa
18.104.22.168 Rest of Africa
6. Competitive Landscape
6.1 Market Share Analysis
6.2 Most Active Companies
6.3 Strategies Adopted by Leading Players
7. Company Profiles
7.1 American Baking Company
7.4 Flower Foods
7.5 Hostess Brands
7.6 McKee Foods
7.8 Mulino Bianco
7.9 Pepperidge Farm
7.10 Tyson Foods