Pastries Market Size
| Study Period | 2019-2029 |
| Market Size (2024) | USD 65.38 Billion |
| Market Size (2029) | USD 74.99 Billion |
| CAGR (2024 - 2029) | 2.78 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Pastries Market Analysis
The Pastries Market size is estimated at USD 65.38 billion in 2024, and is expected to reach USD 74.99 billion by 2029, growing at a CAGR of 2.78% during the forecast period (2024-2029).
The growing popularity of customizable pastries and increasing product innovation are expected to drive the market's growth during the forecast period. The use of specialty ingredients, such as whole-grain bread, concentrates, and sweet goods mixes in pastries by manufacturers, has seen significant developments as a part of the overall demand for healthy ingredients, indulgence without calories, and high demand for on-the-go food products. For instance, in August 2021 Europastry brands with Verdeo, a company dedicated to creating new ways to use olive oil in food products, launched a range of pastries, Olive. The new range, including croissants, donuts, and muffins, is made with 100% olive oil instead of butter and palm oil.
Furthermore, among the most popular products in the bakery segment are cakes and pastries. It is often consumed for ceremonial events like birthdays, weddings, and anniversaries. Cakes come in a variety of sizes and shapes, and they can be made to the customer's specifications. A pastry is a flour, water, and oil dough that can be both sweet and savory. Pie and tart crusts are frequently made from baked or fried pastries. Pastries like puff, shortcrust, and choux are among the most popular varieties sold in stores.
The two main reasons propelling the market's expansion are the increased demand for indulgent food products and growing urbanization. The consumption of ready-to-eat food items like cakes, pies, and pastries has increased due to the growing working population and rising disposable incomes, which has increased sales. Also, a broad and diverse consumer base is being served by ongoing experimentation to develop unique flavors of fillings and toppings, coupled with the rising desire for customized pastries and cakes. Moreover, a rise in consumer health concerns has prompted the use of healthier ingredient substitutes, such as whole wheat flour, in place of white flour.
Pastries Market Trends
Preference for Healthy and Free-from Bakery Products
The market for free-from food is flourishing because of medical developments that have examined and provided a firm understanding of the various immune system responses, allowing customers to make conscious choices about the food products they choose to eat. Globally, consumers are turning to bakery products that offer functional benefits and suit the specific dietary needs of consumers, such as gluten-free, kosher, organic, and natural ingredients. Hence, the increasing demand for freshly baked free-from pastries can be considered an opportunity in this market and an increase in online sales and new product launches. For instance, in March 2021 Singapore bakery chain Joe & Dough and 'free-from' food specialist Oh My Goodness teamed up to offer varieties of gluten-free pastries across the country.
A rising interest in nutritional pastries has been observed among consumers, as they demand products with clean-label ingredients, making them suitable for diabetic consumers. Consumers consider a product 'clean' only if it contains wholesome, natural, and organic ingredients. Consumers' purchasing habits seek to limit the differentiability of the nutritional ingredients used in the product. Therefore, companies are focussing on launching nutritious and free-from bakery products globally to accommodate every consumer need. For instance, in June 2022, gluten-free pizza dough flour and a new line of keto-friendly baking mixes were launched by King Arthur Baking Co. Yellow cake mix, chocolate cake mix, all-purpose muffin mix, and pizza crust mix are among the non-genetically modified organisms (GMO) certified components used to make the keto mixes. Therefore, people are getting more attracted to products that are low in calories, have health benefits, and consist of clean-label ingredients.
Asia-Pacific Holds Significant Market Share
The consumption of pastries in developing markets, such as Asia-Pacific, is based on certain factors, like an increase in the consumption of snacks and convenience foods. Moreover, there is a growing demand for the decorated pastry cake segment. This consumer shift is due to the rising disposable income and preference for innovative products. Asia-Pacific is becoming a key market as rising disposable income, urbanization, and the demand for Western-style diets support the growth in sales of baked goods and pastries. China became one of the largest baked goods markets globally in 2022, with pastries being one of the most popular segments. Owing to this factor, the Asia-Pacific pastry market is expected to witness a potential increase in sales growth during the forecast period.
Furthermore, personal gifting is a popular trend among friends and family in the country, and people prefer to gift food items. Some gifted food items also include bakery products, thus aiding the growth of the market studied. Bakery products are often consumed daily for breakfast, along with coffee or juice across the region. Consumers prefer using bakery products like pastries that provide convenience and simplicity for on-the-go consumption. Together these factors are driving the growth of the bakery products market in the country.
Pastries Industry Overview
The market for pastries is highly competitive due to the presence of many regional and international suppliers. In addition, new healthier varieties with less fat are being introduced by vendors to attract the health-conscious population. In addition to offering unique and customized products, companies are focused on enhancing and expanding their distribution network. Many players are focused on product offerings via various online platforms to increase their consumer reach. Some major players in this market include American Baking Company, Aryzta AG, Britannia Industries, Flowers Foods, Groupo Bimbo, Hostess Brands LLC, McKee Foods Co., Tyson Foods, Europastry Brands, and Finsbury Food Group PLC.
Pastries Market Leaders
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McKee Foods Corporation
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Flowers Foods
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Grupo Bimbo
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Hostess Brands, LLC
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The Essential Baking Company
*Disclaimer: Major Players sorted in no particular order
Pastries Market News
- June 2023: Le Macaron French Pastries® Continues Nationwide Expansion with Ten New Locations in Tucson, Gaithersburg, New York, Columbus, Tarpon Springs, FL, Pembroke Pines, FL, and three California stores in Long Beach, Sacramento, and New Port Beach. In addition, the company reported a third Le Macaron café is slated to open in Nashville.
- February 2023: McKee Food Corporation launched a new website for non-commercial food service brands: mckeefoodservice.com. With the recent update, vending and traditional foodservice customers can visit a single website for product information.
- August 2022: Under the Wrights brand, food manufacturing specialists Wright Food Group introduced the latest line of core ready meals and vegan savory pastries. In addition to the brand's current vegan offering and expanded savory range, the vegan line includes a vegan pastry.
Pastries Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Growing Demand for Free-From Foods Boosts Market Growth
4.1.2 Growing Intolerance Toward Gluten and the Prevalence of Celiac Disease
4.2 Market Restraints
4.2.1 Price Fluctuations of Raw Material May Affect Growth
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Product Type
5.1.1 Packaged Pastries
5.1.2 Unpackaged/Artisanal Pastries
5.2 Distribution Channel
5.2.1 On-trade
5.2.2 Off-trade
5.2.2.1 Supermarkets/Hypermarkets
5.2.2.2 Convenience/Grocery Stores
5.2.2.3 Specialty Stores
5.2.2.4 Online Retail Stores
5.2.2.5 Other Distribution Channels
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 Spain
5.3.2.2 United Kingdom
5.3.2.3 Germany
5.3.2.4 France
5.3.2.5 Italy
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East & Africa
5.3.5.1 South Africa
5.3.5.2 Saudi Arabia
5.3.5.3 Rest of Middle-East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Strategies Adopted by Leading Players
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 American Baking Company
6.3.2 Aryzta AG
6.3.3 Britannia Industries
6.3.4 Flowers Foods
6.3.5 Groupo Bimbo
6.3.6 Hostess Brands LLC
6.3.7 McKee Foods Co.
6.3.8 Tyson Foods
6.3.9 Europastry Brands
6.3.10 Finsbury Food Group PLC
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. ABOUT US
Pastries Industry Segmentation
Pastries are various baked products made from flour, sugar, milk, butter, shortening, baking powder, and eggs. Pastries are considered bakers' confectionery products. The global pastry market is segmented by flavor, product type, distribution channel, and geography. By flavor, the market includes sweet and savory pastries. By product type, the market is segmented into packaged pastries and unpackaged or artisanal pastries. By distribution channel, the market is segmented into on-trade and off-trade channels. Off-trade channels further include supermarkets/hypermarkets, convenience/grocery stores, specialty stores, online retail stores, and other distribution channels. Moreover, the study analyzes the pastries market in the emerging and established markets worldwide, including North America, Europe, Asia-Pacific, South America, and Middle-East & Africa. The market sizing has been done in value terms in USD for all the abovementioned segments.
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Pastries Market Research FAQs
How big is the Pastries Market?
The Pastries Market size is expected to reach USD 65.38 billion in 2024 and grow at a CAGR of 2.78% to reach USD 74.99 billion by 2029.
What is the current Pastries Market size?
In 2024, the Pastries Market size is expected to reach USD 65.38 billion.
Who are the key players in Pastries Market?
McKee Foods Corporation, Flowers Foods, Grupo Bimbo, Hostess Brands, LLC and The Essential Baking Company are the major companies operating in the Pastries Market.
Which is the fastest growing region in Pastries Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Pastries Market?
In 2024, the Europe accounts for the largest market share in Pastries Market.
What years does this Pastries Market cover, and what was the market size in 2023?
In 2023, the Pastries Market size was estimated at USD 63.56 billion. The report covers the Pastries Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Pastries Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Pastries Industry Report
Statistics for the 2024 Pastries market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Pastries analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Pastries Market Report Snapshots
