Cakes

Global Cakes Market to Reach US$71.2 Billion by 2030

The global market for Cakes estimated at US$65.1 Billion in the year 2024, is expected to reach US$71.2 Billion by 2030, growing at a CAGR of 1.5% over the analysis period 2024-2030. Dessert Cakes, one of the segments analyzed in the report, is expected to record a 1.9% CAGR and reach US$36.8 Billion by the end of the analysis period. Growth in the Sponge Cakes segment is estimated at 1.3% CAGR over the analysis period.

The U.S. Market is Estimated at US$17.6 Billion While China is Forecast to Grow at 3.5% CAGR

The Cakes market in the U.S. is estimated at US$17.6 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$13.7 Billion by the year 2030 trailing a CAGR of 3.5% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 0.2% and 1.0% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 0.6% CAGR.

Global Cakes Market - Key Trends and Drivers Summarized

How Are Cakes Central to Global Culinary Traditions and Celebrations?

Cakes are a fundamental element of culinary traditions and celebrations around the world, symbolizing festivity, community, and joy. Whether it`s a birthday, wedding, or national holiday, cakes often play a central role in marking these occasions. The universal appeal of cakes lies in their versatility and adaptability; they can be customized in endless ways through variations in flavor, shape, decoration, and ingredients to suit cultural preferences and dietary restrictions. This adaptability makes cakes an integral part of both everyday life and special events, serving as a canvas for artistic expression in baking and a delightful treat that brings people together. The rich diversity of cakes, from simple pound cakes to elaborate multi-tiered creations, showcases the deep-rooted cultural significance and personal importance of this beloved dessert.

What Innovations Are Enhancing the Functionality of Cakes?

Innovations in cake baking and design are enhancing their functionality, making them more inclusive and tailored to modern consumer needs. One significant trend is the development of health-conscious cakes that are lower in sugar, gluten-free, or made with alternative ingredients like almond flour or vegetable purees to cater to dietary preferences and restrictions. The rise of veganism has also led to innovations in egg and dairy substitutes that maintain the desirable textures and flavors of traditional cakes. Technological advancements in baking equipment and techniques allow for more precision and efficiency in cake production, from 3D printed cake decorations to automated icing machines. Additionally, the integration of global flavors and fusion recipes continues to evolve the role of cakes in culinary arts, making them a dynamic and ever-changing segment of the food industry.

How Do Cakes Impact Social Interactions and Celebrations?

Cakes significantly impact social interactions and celebrations by serving as a focal point for gathering and sharing. In many cultures, sharing a cake is more than just a culinary experience; it`s a symbolic gesture of unity, love, and celebration. Cakes are often present at milestone events such as birthdays, weddings, and anniversaries, marking life’s important moments with sweetness and joy. The act of cutting a cake is a ceremonial tradition in many celebrations, symbolizing the sharing of good fortune and happiness with friends and family. In the business world, cakes are also used in corporate celebrations and recognitions, enhancing camaraderie and morale among employees. The universal appeal of cakes in social contexts underscores their role in fostering connection and joy in both personal and community life.

What Trends Are Driving Growth in the Cake Market?

Several trends are driving growth in the cake market, including the rise of customized and artisanal cakes, increased consumer interest in global and exotic flavors, and the growth of online retail and delivery services. Consumers increasingly seek personalized cake designs that reflect individual tastes and themes, driving demand for custom cake services and artisanal bakeries. The globalization of taste and the increasing exposure to international cuisines have also fueled interest in cakes featuring unique flavors and ingredients from around the world. Additionally, the convenience of online shopping and the expansion of delivery services have made specialty cakes more accessible to a wider audience, expanding the market beyond traditional brick-and-mortar bakeries. These trends reflect the evolving consumer preferences and the dynamic nature of the cake industry in meeting these demands with innovation and creativity.

SCOPE OF STUDY:

The report analyzes the Cakes market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Type (Dessert Cakes, Sponge Cakes, Cupcakes, Other Types); Distribution Channel (Retail Channel, Food Service)

Geographic Regions/Countries:
World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

Select Competitors (Total 36 Featured) -

• Anmol Industries Limited
• Britannia Industries Ltd.
• Campbell`s Catering UK
• Elite Foods, Inc.
• Finsbury Food Group PLC
• Frontier Biscuit Factory Pvt. Ltd.
• Grupo Bimbo S.A.B. de C.V.
• Mckee Foods Corporation
• Merwans Confectioners Pvt. Ltd.
• Monginis

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.