Cakes and pastries are the prominent products in a bakery industry. These are sweet desserts, baked with ingredients such as flour, eggs, butter/oil, sugar, and baking compounds. Cakes are specially referred on celebratory occasions such as birthdays, anniversaries, and wedding ceremonies. There are a variety of pastries available in the market that are baked with relatively similar content with varying quantities. The demand for cakes and pastries is expected to grow owing to urbanization and increase in disposable income of the consumers.
Market scope and structure analysis:
|Market size available for years||2020–2027|
|Base year considered||2019|
|Forecast units||Value ($US)|
|Segments covered||Type, Segment, Application, Distribution Channel|
|Regions covered||North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and Rest of Asia-Pacific), LAMEA (Middle East, Brazil and Rest of LAMEA)|
|Companies covered||Finsbury, American Baking Company, BreadTalk, Edeka, Edwards Cake & Candy Supplies, Hillshire Brands, Monginis, Flowers Foods, Aryzta, Grupo Bimbo, Britannia, Hostess Brands, George Weston, McKee Foods, Mulino bianco, Yamazaki Baking, Pepperidge Farm.|
COVID-19 Scenario Analysis:
Lack of footfall in stores
The consumer footfall in stores and bakeries have been declined due to the COVID-19 implications. This has resulted in a decline in the revenue for the industry.
Get a Sample Report at: https://www.alliedmarketresearch.com/request-sample/6954
Online distribution of cakes and bakeries
Since many players in the market have diversified their distribution channel from offline stores to online platforms, the demand is considerably arising through the online channel that lets consumer place an order as per their requirements and then the same is delivered with due diligence and safety standards.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Surge in urbanization, increase in disposable income of the population, rise in trend of cakes and pastries among the millennials, the innovations in bakery and the continuously changing consumer preferences drive the market growth. Nowadays, these products come up with improvements such as sugar free or low fat bakery products, but the pertaining health concerns and diet consciousness of consumers prevails as a restraint for growth of the market.
The global cakes and pastries market trends are as follows:
Diversification in distribution channel
Today’s population is highly integrated on the online platform and this urges the need for marketers to expand their business through online platforms as well. For this the key market players develop a mode of online distribution channel wherein the customers can place an order as per their choices or the list of options available and this not just saves time but also eases the order placements and deliveries.
The manufactures either create or publish their own websites and do direct customer handling or come in partnership with local bakery stores and enable the sale of customized and branded bakery products through the local retailers. Consumers can surf the website, scroll through the menus and offers that are generally discounted or availed I combos, to fuel the sale of their products.
Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/6954
Artisanal products witnessing a higher demand
The artisanal bakeries segment is the fastest growing segment in the cakes and pastries market than the industrial products. This is because artisanal products are highly customized and rich in content in terms of health, taste and nutrition. The segment is experiencing growth also because the demand for freshly baked cakes is rising. This gives consumers the choice of product customization and get a product as per their preferential demands.
These products are generally higher in price than those produced in the industries on in-store bakeries, but the wide availability of choices and diversified options intrigue the customers to make a purchase, ultimately fueling the revenue for the segment and the industry. The key market players wish to deliver the fresh baked customized cakes and this is efficiently driving the market growth.
Key Segments Covered:
Key Benefits of the Report:
- This study presents the analytical depiction of the global cakes and pastries industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global cakes and pastries market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global cakes and pastries market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global cakes and pastries market analysis based on competitive intensity and how the competition will take shape in coming years.
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.