Market Size of India Cake Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 12.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
India Cake Market Analysis
The Indian cake market is projected to witness a CAGR of 12.5% during the next five years.
Bakery products have been basic food products for human nutrition. The convenience, accessibility, and nutrition profile associated with them are the major factors of their sustenance in the modern market. The consumption of cakes is gaining market traction, owing to consumers' changing perceptions and their convenience and health attributes. This is increasing the popularity of on-the-go cake products baked off or made at the consumer's convenience. Due to urbanization and the increase in the working population, the preferences for out-of-home consumption and demand for instant and nutritious products have increased, which is expected to propel the market growth over the long term.
During the COVID-19 pandemic, people stopped buying cakes from bakery shops due to product safety and hygiene issues. During the pandemic, the trend of homemade cakes increased, which affected the growth of the market. On the other hand, the trend of gluten-free products is growing in India, and market players, like Britannia, Parle, and many more, are manufacturing the products according to consumer preferences.
India Cake Industry Segmentation
Cakes are a form of baked products that are made using flour, sugar, butter, and other ingredients. The rise in cake consumption is mainly due to its popularity as a celebration of food on various occasions. The market is segmented by category, product type, and distribution channel. By category, the market is segmented into packaged and unpackaged or artisanal cakes. By product type, the market is segmented into sponge cakes, cupcakes, cheesecakes, and other product types. By distribution channel, the market studied is segmented into supermarkets/ hypermarkets, specialist retailers, convenience stores, online channels, and other distribution channels. For each segment, the market sizing and forecasts have been done on the basis of value in USD million.
| Category | |
| Packaged | |
| Unpackaged/Artisanal |
| Product Type | |
| Sponge Cakes | |
| Cup Cakes | |
| Cheesecakes | |
| Other Product Types |
| Distribution Channel | |
| Supermarkets/Hypermarkets | |
| Convenience Stores | |
| Specialist Retailers | |
| Online Channels | |
| Other Distribution Channels |
India Cake Market Size Summary
The Indian cake industry is experiencing significant growth, driven by changing consumer preferences and the increasing demand for convenient and nutritious food options. Urbanization and a growing working population have led to a rise in out-of-home consumption, boosting the popularity of on-the-go cake products. Despite challenges during the COVID-19 pandemic, such as a shift towards homemade cakes due to safety concerns, the market has rebounded with a focus on gluten-free and vegan products. Major players like Britannia and Parle are catering to these trends, while the introduction of value-added bakery products is further propelling market expansion. The rise of fast-food chains and online food stores, offering quick delivery and discounts, has also contributed to the growing demand for packaged cakes, particularly in metropolitan areas.
The Indian cake market is characterized by its fragmented nature, with numerous local and regional players such as Monginis, Elite Foods, and Frontier Biscuit Factory Pvt. Ltd. These companies are leveraging strategies like new product launches and expansions to strengthen their market presence. The market is witnessing a surge in the packaged cake segment, driven by the introduction of long-shelf-life and vegan cakes, appealing to the country's diverse population. Both online and offline sales channels are playing a crucial role in market growth, with urban areas seeing increased popularity of grocery delivery services. The focus on healthy alternatives and the addition of new flavors are expected to further enhance industry growth, as companies continue to innovate and expand their product offerings across India.
India Cake 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 Category
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2.1.1 Packaged
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2.1.2 Unpackaged/Artisanal
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2.2 Product Type
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2.2.1 Sponge Cakes
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2.2.2 Cup Cakes
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2.2.3 Cheesecakes
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2.2.4 Other Product Types
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2.3 Distribution Channel
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2.3.1 Supermarkets/Hypermarkets
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2.3.2 Convenience Stores
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2.3.3 Specialist Retailers
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2.3.4 Online Channels
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2.3.5 Other Distribution Channels
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India Cake Market Size FAQs
What is the current India Cake Market size?
The India Cake Market is projected to register a CAGR of 12.5% during the forecast period (2024-2029)
Who are the key players in India Cake Market?
Monginis, Britannia Industries Limited, Parle Products Pvt Ltd, Modern Food Enterprises Private Limited and Elite foods are the major companies operating in the India Cake Market.
