Market Size of Cakes, Pastries, and Sweet Pies Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.90 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Cakes, Pastries, and Sweet Pies Market Analysis
The Cakes, Pastries, and Sweet Pies market is projected to register a CAGR of 3.9% during the forecast period.
Increasing indulgence in cake, pastries, and sweet pies along with innovation in the bakery industry driving the market all over the world. The bakery sector has seen many innovations, particularly in flavor and topping, as more people become interested in food experiments. As a result, the popularity of custom cakes is expected to drive market growth over the forecast period.
Rising consumption of ready-to-eat food with the convenience factor, with changing preferences for flavored food products, is pushing the revenue generation in the global cakes, pastries, and sweet pies market. Additionally, the 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.
Moreover, bakery products' ingredients that provide functional benefits and are suitable for the consumer's specific dietary needs, such as wheat gluten, kosher, organic, and other natural ingredients are also driving the demand for pastries, cakes, and sweet pies. In March 2022, Morrisons launched a range of vegan pastries at its market street bakery counter across the United Kingdom. The company claims that this pastry range is ideal for health-conscious consumers who seek plant-based and meat-free alternatives to conventional food products.
Cakes, Pastries, and Sweet Pies Industry Segmentation
Cakes, pastries, and sweet pies are referred to as baked products made from ingredients such as sugar, flour, butter, milk, baking powder, shortening, and eggs.
The cakes, pastries, and sweet pies market is segmented into product type, distribution channel, and geography. Based on product type, the market is segmented into cakes, pastries, and sweet pies. Based on distribution channel, the market is segmented into supermarkets/hypermarkets, specialist retailers, convenience stores, online retail stores, and other distribution channels. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East and Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).
| Product Type | |
| Cakes | |
| Pastries | |
| Sweet Pies |
| Distribution Channel | |
| Supermarkets/Hypermarkets | |
| Specialist Retailers | |
| Convenience Stores | |
| Online Retail Stores | |
| Other Distribution Channels |
| Geography | |||||||||
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Cakes, Pastries, and Sweet Pies Market Size Summary
The Cakes, Pastries, and Sweet Pies market is experiencing a steady growth trajectory, driven by increasing consumer indulgence and innovation within the bakery industry. The sector has seen a surge in interest towards experimental flavors and toppings, which has significantly boosted the popularity of custom cakes. This trend is further supported by the rising demand for ready-to-eat food products, which offer convenience and cater to changing consumer preferences for flavored items. The introduction of bakery products with health claims, such as reduced high-fructose corn syrup and increased fiber content, is also attracting health-conscious consumers, thereby contributing to market expansion. Additionally, the use of functional ingredients like wheat gluten and organic components is enhancing the appeal of these products, meeting specific dietary needs and preferences.
The market is characterized by a competitive landscape with numerous global and regional players employing various strategies to capture market share. Companies are focusing on product innovations, such as clean-label and gluten-free options, to cater to a diverse consumer base. The artisanal bakery sector is gaining traction, offering highly customized products that are rich in essential nutrients, further driving market growth. The Asia-Pacific region is emerging as a key market due to rising disposable incomes and urbanization, with China poised to become a significant player in the baked goods segment. The demand for sugar-free options is also on the rise, driven by the increasing prevalence of diabetes. Overall, the market is poised for continued growth, supported by the introduction of innovative and healthy food options, as well as strategic expansions and acquisitions by leading industry players.
Cakes, Pastries, and Sweet Pies Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Product Type
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2.1.1 Cakes
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2.1.2 Pastries
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2.1.3 Sweet Pies
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2.2 Distribution Channel
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2.2.1 Supermarkets/Hypermarkets
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2.2.2 Specialist Retailers
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2.2.3 Convenience Stores
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2.2.4 Online Retail Stores
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2.2.5 Other Distribution Channels
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest of North America
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Russia
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2.3.2.6 Spain
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2.3.2.7 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 India
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2.3.3.2 China
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2.3.3.3 Australia
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2.3.3.4 Japan
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle East and Africa
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Cakes, Pastries, and Sweet Pies Market Size FAQs
What is the current Cakes, Pastries, and Sweet Pies Market size?
The Cakes, Pastries, and Sweet Pies Market is projected to register a CAGR of 3.9% during the forecast period (2024-2029)
Who are the key players in Cakes, Pastries, and Sweet Pies Market?
Britannia Industries Limited, General Mills, Inc., Tyson Foods, Flowers Foods, Inc. and Grupo Bimbo, S.A.B. de C.V. are the major companies operating in the Cakes, Pastries, and Sweet Pies Market.
