Cakes and Pastries Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Cakes and Pastries Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global cakes and pastries market size reached US$ 136.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 171.2 Billion by 2028, exhibiting a growth rate (CAGR) of 3.9% during 2022-2028. The growing popularity of coffee shops or cafes as social gathering spots, the proliferation of baking shows on television and online platforms across the globe, and the introduction of health-conscious options are some of the major factors propelling the market.

Cakes and pastries are a category of baked goods, beloved worldwide for their sweet, indulgent nature. A cake is a form of sweet food made from a mixture of ingredients such as flour, sugar, eggs, and often, a leavening agent, including baking powder or soda. They are typically topped with frosting or icing and sometimes filled with creams or jellies. Pastries, on the other hand, refer to a broad range of baked goods made from ingredients including flour, sugar, milk, butter, shortening, baking powder, and eggs. The defining characteristic of pastries is their crumbly, flaky, or puff texture, achieved through a process known as lamination, which involves folding and rolling the dough multiple times. From simple, everyday treats to extravagant, artistically decorated creations, cakes and pastries serve as an integral part of celebrations, gatherings, or even as a simple accompaniment to a cup of tea or coffee.

The growing popularity of coffee shops or cafes majorly drives the global market. These places have become social gathering spots where consumers go for coffee, and the accompanying sweet treats, such as cakes and pastries. Therefore, the growth in this cafe culture directly drives an increase in the demand for pastries and cakes. As economies grow and individual wealth accelerates, disposable income rises, which directly influences the purchasing power of consumers. As consumers have more money to spend, they are more likely to indulge in luxury items, including cakes and pastries, contributing to a rise in demand for these products. In addition, the availability of a variety of baking mixes and the proliferation of baking shows on television and online platforms are positively influencing the market. Apart from this, the advent of e-commerce and the rise of online delivery services making it incredibly easy for consumers to order cakes and pastries at their convenience is contributing to the market. Moreover, the introduction of health-conscious options, such as gluten-free, sugar-free, or vegan cakes and pastries is creating a positive market outlook.

Cakes and Pastries Market Trends/Drivers:

Global Urbanization and Changing Lifestyle

One significant market driver for cakes and pastries is rapid urbanization and changing lifestyles across the globe. As urban areas expand, so do the number of supermarkets, bakeries, and convenience stores that offer a wide range of cakes and pastries. With the hustle and bustle of city life, consumers are seeking quick, convenient, and tasty options for their meals and snacks. Cakes and pastries, often pre-packaged and ready to eat, perfectly fit into this urban lifestyle. In addition, the cultural shift towards dining out and trying new foods has also boosted the demand for cakes and pastries. Bakery cafes, patisseries, and dessert bars showcasing innovative and varied offerings have become popular meeting spots, leading to increased consumption.

Innovation and Product Differentiation

Another substantial market driver for cakes and pastries is the continuous innovation and product differentiation by manufacturers. Along with this, producers are constantly experimenting with flavors, textures, and ingredients, creating new products that appeal to diverse tastes. In addition to this, the introduction of health-conscious options, such as gluten-free, sugar-free, or vegan cakes and pastries, has expanded the consumer base to include those with dietary restrictions or preferences. Similarly, fusion desserts that combine elements from different cuisines have become a significant trend. These continuous innovations keep the cakes and pastries market dynamic and exciting, which is acting as another growth-inducing factor.

Marketing and Digital Influence

The power of marketing and the influence of digital media are significant market drivers for cakes and pastries. In confluence with this, businesses utilize attractive packaging, in-store promotions, and advertising campaigns to attract consumers, further positively influencing the market. In the digital era, social media platforms are used extensively for promotional activities. Instagram, Pinterest, and YouTube are full of mouth-watering images and videos of cakes and pastries, encouraging users to try them. Therefore, it is significantly contributing to the market. Moreover, influencers and celebrity chefs also contribute to this trend by sharing recipes, reviewing products, and endorsing brands. This extensive marketing and digital influence have effectively impacted the market.

Cakes and Pastries Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global cakes and pastries market report, along with forecasts at the global, regional and country levels from 2023-2028. Our report has categorized the market based on product, type, sector and distribution channel.

Breakup by Product:

Artisanal Bakery Products

In-store Bakery Products



In-store bakery products dominate the market

The report has provided a detailed breakup and analysis of the market based on the product. This includes artisanal bakery products and in-store bakery products. According to the report, in-store bakery products represented the largest segment.

In-store bakery products in the cakes and pastries industry are experiencing significant growth, driven by the allure of freshly baked, on-premises goods. Customers are drawn to the sensory experience of an in-store bakery, where the aroma, sight, and taste of fresh products contribute to their appeal. The ability to customize orders, such as cakes for special occasions, also attracts consumers. Another driver is the perception of quality and authenticity associated with in-store bakery items. Consumers often equate the freshness of in-store baked goods with higher quality and fewer preservatives, which aligns with a growing trend towards healthier, cleaner food options. Additionally, the convenience factor of being able to buy baked goods while doing regular grocery shopping cannot be overlooked. This combination of freshness, perceived quality, customization, and convenience propels the market for in-store bakery products in the cakes and pastries industry.

Breakup by Type:

Cakes

Frozen Cakes & Pastries

Pastries

Sweet Pies



Cakes dominate the market

A detailed breakup and analysis of the market based on the type have also been provided in the report. This includes cakes, frozen cakes & pastries, pastries, and sweet pies. According to the report, cakes represented the largest segment.

The cakes segment is propelled by the essential role that cakes play in celebrations and festivities around the world, including birthdays, weddings, anniversaries, and numerous cultural and religious holidays. This ensures a consistent demand for cakes year-round. In addition, the diversification and innovation in cake flavors, forms, and decorating styles cater to a wide range of consumer tastes, driving further interest and demand. In addition, the rise of specialty diets has also influenced this market, with a growing demand for vegan, gluten-free, and sugar-free cakes expanding the consumer base. Another key driver is the influence of digital media and television baking shows that inspire consumers to try or make elaborate cakes, driving both direct consumption and the home-baking trend. Moreover, the advent of online cake delivery services has made access to a wide variety of cakes easy and convenient, further driving market growth for cakes.

Breakup by Sector:

Food Service

Retail



Food service dominates the market

The report has provided a detailed breakup and analysis of the market based on the sector. This includes food service and retail. According to the report, food service represented the largest segment.

The food service sector within the cakes and pastries industry is experiencing growth driven by the emerging trend towards dining out or ordering in, facilitated by the rise of online food delivery platforms. These platforms have increased accessibility to a wide variety of cakes and pastries from various food service establishments, driving consumer demand. Another driver is the growth in the café culture and casual dining sector, where cakes and pastries form an integral part of the menu offerings. Catering services, which provide baked goods for events and functions, are also contributing to the growth in the food service sector. Additionally, innovation and differentiation in menu offerings, with unique and diverse cakes and pastries, help establishments attract new customers and retain regular ones. In confluence with this, the rise of health and wellness trends has led to the inclusion of healthier, diet-specific options in the menu, broadening the potential customer base.

Breakup by Distribution Channel:

Supermarkets and Hypermarkets

Convenience Stores

Specialist Retailers

Artisanal Bakeries

Online Stores

Others



Supermarkets and hypermarkets dominate the market

A detailed breakup and analysis of the market based on the distribution channel have also been provided in the report. This includes supermarkets and hypermarkets, convenience stores, specialist retailers, artisanal bakeries, online stores, and others. According to the report, supermarkets and hypermarkets represent the largest segment.

The supermarkets and hypermarkets segment is driven by the convenience these establishments offer. They allow consumers to purchase a wide range of goods, including cakes and pastries, in one location, saving time and effort. Numerous supermarkets and hypermarkets also have in-store bakeries, which provide fresh, daily-made items, enhancing the appeal to consumers. Additionally, the diversity of options available at these stores, catering to various tastes and dietary needs, is a significant driver. They offer products ranging from basic cakes and pastries to more premium, specialty options, including organic, gluten-free, and vegan alternatives. Another key driver is the strategic product placement and attractive promotional activities in these stores, which encourage impulse purchases. Moreover, the advent of online grocery shopping has further enhanced accessibility, allowing customers to browse and purchase bakery products at their convenience, driving market growth in the supermarket and hypermarket sectors of the cakes and pastries industry.

Breakup by Region:

North America

Europe

Asia Pacific

Latin America

Middle East and Africa



North America exhibits a clear dominance, accounting for the largest cakes and pastries market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America, Europe, Asia Pacific, Latin America and the Middle East and Africa. According to the report, North America accounted for the largest market share.

The North American market for cakes and pastries is influenced by a range of drivers. A notable factor is the region's cultural tradition of using cakes and pastries for celebrations and holidays, ensuring consistent demand. In addition, the rising trend of convenience and on-the-go food consumption, in line with the fast-paced lifestyle, also drives the market. The growth of in-store bakeries in supermarkets and hypermarkets, offering a diverse range of freshly baked goods, significantly contributes as well. Apart from this, the rapid expansion of coffee shop chains across the region, where cakes and pastries are a primary offering, stimulates the market. In confluence with this, the rising awareness of health and wellness has led to the rise of gluten-free, sugar-free, and organic products, expanding the customer base. Furthermore, the use of digital platforms for marketing and online sales, coupled with home delivery services, has increased accessibility to a wide variety of cakes and pastries, driving market growth in the North American cakes and pastries industry.

Breakup by Country

Italy

Germany

United States

France

Ireland

United Kingdom

Netherlands

Australia

China

Brazil

Argentina

Mexico

Saudi Arabia

Africa Region

Japan



The report has provided a detailed breakup and analysis of the market based on the country. This includes Italy, Germany, the United States, France, Ireland, the United Kingdom, Netherlands, Australia, China, Brazil, Argentina, Mexico, Saudi Arabia, Africa Region and Japan.

The United States has a well-established food industry infrastructure, including advanced manufacturing and distribution networks. This enables efficient production and widespread availability of cakes and pastries throughout the country. Moreover, the diverse culinary landscape in the United States has led to a wide variety of cake and pastry offerings to cater to different tastes and preferences. This diversity attracts a broad consumer base both domestically and internationally. Furthermore, the influence of American culture, as depicted in movies, TV shows, and social media, has popularized cakes and pastries as not only indulgent treats but also as symbols of celebration and lifestyle. This cultural influence has contributed to a higher demand for cakes and pastries both domestically and in international markets. In addition, the innovative approaches taken by American bakeries and pastry chefs have led to the creation of unique and inventive cake and pastry flavors, designs, and presentations. This creativity has helped maintain consumer interest and sustain the market's growth.

Competitive Landscape:

The global cakes and pastries market is experiencing significant growth due to the rapid expansion of product portfolios to cater to various dietary preferences and lifestyle choices, including gluten-free, vegan, and organic options. With increasing awareness of health-conscious consumers, companies are incorporating healthier ingredients and reducing added sugars and artificial additives in their products. They are also emphasizing nutritional information and highlighting health benefits to attract health-conscious customers. Therefore, it is significantly supporting the market. In response to changing consumer habits, manufacturers are enhancing their online presence through user-friendly websites and social media platforms. Several are offering online ordering and delivery services, making it convenient for customers to get their favorite cakes and pastries. Apart from this, the growing investments in market research and data analysis to understand consumer preferences, purchasing behavior, and emerging trends are significantly supporting the market. Furthermore, the widespread adoption of eco-friendly packaging materials to appeal to environmentally conscious consumers is contributing to the market.

The report has provided a comprehensive analysis of the competitive landscape in the global cakes and pastries market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

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.

Recent Developments:

In September 2022, Finsbury introduced the brand-new Orange Brownie Bites in collaboration with the chocolatier Thorntons.

In April 2023, The Sorrisa Group and Bimbo Bakeries USA, a division of Grupo Bimbo, have collaborated to launch a line of ice cream sandwiches under the Entenmann's name.

In February 2023, Hostess Brands announced the introduction of its most recent invention, Hostess KazbarsTM, a first-of-its-kind snack cake creation inspired by candy bars. Layers of soft chocolate cake, crème, and candy crunch, and caramel or smooth chocolate fudge constitute the latest Hostess invention.

Key Questions Answered in This Report:

How has the global cakes and pastries market performed so far, and how will it perform in the coming years?

What are the drivers, restraints, and opportunities in the global cakes and pastries market?

What is the impact of each driver, restraint, and opportunity on the global cakes and pastries market?

What are the key regional markets?

Which countries represent the most attractive cakes and pastries market?

What is the breakup of the market based on the product?

Which is the most attractive product in the cakes and pastries market?

What is the breakup of the market based on the type?

Which is the most attractive type in the cakes and pastries market?

What is the breakup of the market based on the sector?

Which is the most attractive sector in the cakes and pastries market?

What is the breakup of the market based on the distribution channel?

Which is the most attractive distribution channel in the cakes and pastries market?

What is the breakup of the market based on the country?

Which is the most attractive country in the cakes and pastries market?

What is the competitive structure of the global cakes and pastries market?

Who are the key players/companies in the global cakes and pastries market?