Global Cakes and Pastries Market 2016-2020

This market research study presents a detailed segmentation of the global cakes and pastries market by product (artisanal and in-store bakeries) and by geography (the Americas, APAC, Europe, and MEA). The key vendors identified in the market are Finsbury, Flowers Foods, Grupo Bimbo, Hostess Brands, McKee Foods, and Yamazaki Baking.

Overview of the cakes and pastries market

Technavio’s market research analysts have predicted the global cakes and pastries market to grow at a steady CAGR of more than 3% over the forecast period. The growing urbanization and increase in disposable income will have a positive effect on the cakes and pastries market until the end of 2020. Globally close to 54% of the population lives in urban areas is expected to increase in the coming years. Urbanization and rising disposable income have resulted in greater purchasing power. Furthermore, the working population in big cities prefer on-the-go foods such as pastries, cake snacks, and sweet pies which will propel the prospects of market growth during the forecast period.

The increasing innovation in product offerings is expected to contribute to the market growth during the forecast period. For example, in 2015, Bimbo Bakeries launched a Minions-themed cake range in Iberia produced under license from Universal Pictures and Illumination Entertainment. Also, a new type of cake-based snack called cake pops is gaining in popularity and is available in grocery stores and coffee shops. These are bite-sized cakes styled as lollipops and come in a range of designs. With more people interested in experimenting with food, the cakes and pastries market has seen many innovations, particularly in flavors and toppings. Thus, the growing popularity of customizable cakes and pastries to drive this market’s growth during the forecast period.

Segmentation by product and analysis of the cakes and pastries market

• Artisanal
• In-store bakeries

The artisanal segment is the fastest growing segment and is expected to reach more than USD 21 billion until the end of 2020. Artisanal bakery product sales have increased significantly due to the increasing demand for freshly baked cakes. Moreover, artisanal products are handmade so are priced higher than cakes from in-store bakeries. The growing demand for customizable, fresh cakes is likely to drive this segment’s growth in the coming years.

Geographical segmentation and analysis of the cakes and pastries market

• Americas
• APAC
• Europe
• MEA

In 2015, Europe dominated the market with a market share of close to 68% in terms of revenue. Factors like the presence of many established artisanal baked goods makers in Europe will propel the market for cakes and pastries during the forecast period.

Competitive landscape and key vendors

The global cakes and pastries market is highly fragmented due to the presence of a large number of small, regional, and international suppliers. These vendors are fiercely competing on the basis of product differentiation, portfolio, brand recognition, technology, and economical pricing. The report predicts that the vendor competition in this market will intensify during the forecast period due to increase in the number of vendors offering gourmet and new flavors, the rising demand for healthy food, and price wars among the vendors.

Key vendors in the market are -

• Finsbury
• Flowers Foods
• Grupo Bimbo
• Hostess Brands
• McKee Foods
• Yamazaki Baking

Other prominent vendors in the market are American Baking Company, Aryzta, BreadTalk, Britannia, Edeka, Edwards, Edwards Cake & Candy Supplies, George Weston, Hillshire Brands, Hostess Brands, Mulino bianco, Monginis, and Pepperidge Farm.

Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global cakes and pastries market?
• What are the key market trends impacting the growth of the global cakes and pastries market?
• What are the challenges to market growth?
• Who are the key vendors in the global cakes and pastries market?
• What are the market opportunities and threats faced by the vendors in the global cakes and pastries market?
• Trending factors influencing the market shares of the Americas, APAC, Europe, and MEA.
• What are the key outcomes of the five forces analysis of the global cakes and pastries market?

Technavio also offers customization on reports based on specific client requirement.

Related reports

• Bakery Market in Japan: Forecast, and Market Analysis 2015-2019
• Global Bakery Market 2015-2019
• Global Bread and Rolls Market 2016-2020
• Global Gluten-Free Packaged Food Market 2015-2019

Cakes and pastries include both artisanal and industrial products and typically consist of cakes, pastries, frozen cakes and pastries, and sweet pies. The market for cakes and pastries is expected to grow at a moderate rate over the coming years. Mondelēz, Yamazaki Baking, and Kellogg are some of the leading vendors in this market.

The global cakes and pastries market report is part of Technavio’s food and beverage research portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as alcoholic beverages, food, food service, and non-alcoholic beverages. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.