Global Cakes and Pastries Market Size Analysis 2020 due to COVID-19 Impacts

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Cakes and Pastries Market

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:

                       Report Metric                                            Details
  Market size available for years   2020–2027
  Base year considered   2019
  Forecast period   2021–2027
  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.

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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.

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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:

                 Segments                                      Sub-segments
  Type
  • Cakes
  • Frozen Cakes & Pastries
  • Pastries
  • Sweet Pies
  Segment
  • Artisanal
  • In-store bakeries
  Application
  • Food Service
  • Retail
  • Others
  Distribution Channel
  • Convenience Stores
  • Supermarkets and Hypermarkets
  • Specialist Retailers
  • Artisanal Bakeries
  • Online Retailers
  • Others

 

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.

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