About Cakes and Pastries
The bakery industry has expanded from simple baked goods to a multitude of products across various categories, including healthy, organic offerings.
Healthy-eating trends, in light of growing concerns about obesity and related health issues, are expected to drive the bakery market globally. Manufacturers incorporate healthy ingredients, such as whole grains, into their products. They also label the products, clearly listing all ingredients, to enable consumers to make informed choices. Many vendors have also reduced the portion sizes of their products, targeting consumers who are calorie conscious. Dupont offers a toffee-filled chocolate cake with about 50% fewer calories than standard cake. Dawn Foods also offers a wide range of baked products such as brownies, cakes, and cookies under the name Weight Watchers. Puraslim is a low-fat, cost-effective alternative for traditional margarine, butter, and oil used in baking. Its use enables the reduction of the amount of fat in baked goods.
Technavio’s analysts forecast the global cakes and pastries market to grow at a CAGR of 3.76% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global cakes and pastries market for the period 2016-2020. To calculate the market size, the report considers revenue generated from the retail sales of cakes and pastries in terms of revenue and volume:
Technavio Announces the Publication of its Research Report – Global Cakes and Pastries Market 2016-2020
Technavio recognizes the following companies as the key players in the Global Cakes and Pastries Market: Groupo Bimbo, Flower Foods, Finsbury, Tyson Foods, Yamazaki Baking, McKee Foods, and Hostess Brands.
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.
Commenting on the report, an analyst from Technavio’s team said: “The market is being driven from the in-home consumption of cakes and confectionery foods. The popularity of new television shows focusing on cakes and cupcakes and a shift away from only dessert and special-occasion consumption, combined with more in-home entertaining due to the recession, is supporting growing sales for both in-grocery and independent bakeries.”
According to the report, despite the growing health consciousness worldwide, there exists a steady market for premium, indulgent food products — cakes and pastries being the prominent ones. Greater indulgence in these food products and the acceptance of on-the-go snacks have contributed to the demand for cakes and pastries. As a result, the sales of chocolate-based cakes had increased by 19% by volume globally between 2007 and 2012.
Further, the report states that packaged cakes by leading manufacturers are expected to face a challenge from the private labels being sold in supermarkets.
Groupo Bimbo, Flower Foods, Finsbury, Tyson Foods, Yamazaki Baking, McKee Foods, Hostess Brands, American Baking Company, Aryzta, BreadTalk, Britannia, Edeka, Edwards, Edwards Cake & Candy Supplies, George Weston, Hillshire Brands, Hostess Brands, Mulino bianco, Monginis, Pepperidge Farm.
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