Cake and Pastries Market, By Type (Artisanal and In-store Bakers), By Application (Online Retailer and Offline Retailer), By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034

Cake and Pastries Market was valued at USD 157.1 Billion in 2024 and is projected to grow at a CAGR of 3.30% to reach USD 211.6 Billion by 2034.

From simple baked goods to a multitude of products across various categories, including healthy, organic offerings, the bakery industry has expanded. Bakery industry produce and sells baked and flour-based food such as bread, cookies, cakes, pastries, and pies etc. Cake is a kind of sweet dessert which is baked by using ingredients like flour, sugar, eggs, butter/oil/margarine, a liquid, and leavening agents – baking soda or powder. Cake is a celebratory dish on ceremonial occasions, such as - wedding, anniversary, and birthday celebrations. Pastry is a dough of flour, water and shortening that may be savory or sweetened. There are variety of pastries available, which are made by utilizing the natural characteristics of wheat flour and certain fats.

The major driving force for Cake and Pastries Market are increasing urbanization, augmented demand from millennials, intensified indulgence in cakes and pastries, and consumer preference for food. The increasing disposable income affect the level of purchasing power across the globe and that influence the cakes and pastries market.

Innovation prefer such as pastries, cake snacks, and sweet pies which are on-the-go foods will propel the prospects of market growth during the forecast period on the working population in big cities. Increasing innovations in bakery product offerings across the globe is expected to propelling the target market growth. During the forecast period a new type of cake-based snack called cake pops is available and gaining popularity in grocery stores and coffee shops. The key players also label their product with the healthy ingredients which makes the customer more into this product. However, increase in healthy diet trends, coupled with rising concerns associated with obesity and health related issues are major factors restraining growth of the global market.  A key challenge that remains in industry is food perishability.

The cake and pastries market is segmented on the basis of type, application, and region. On the basis of type, the target market is divided into artisanal and in-store bakers. A unique selling point in fueling the demand is due to the artisanal cakes, the upcoming trend of in-store bakeries may further provide growth opportunities. One-stop-shop solution offering pastries and other bakery items in the in-store bakeries are offered. On the basis of application, the global market is further divided into online retailer and offline retailer but, mostly customer prefer offline buying of cake and pastries over online.

On the basis of region, cake and pastries market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

 The key dominator of cake and pastries market is North America due to its western tradition and use of cake in every celebration including home and work place culture. Followed by Europe as a major market enhancer in the target market followed by Asia Pacific, Latin America, and Middle East & Africa.

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The key player of the cake and pastries market include American Baking Company, Aryzta baking company, BreadTalk limited, Britannia limited, Edeka baking co., Edwards and Edwards Cake & Candy Supplies, Hillshire Brands and baking co., Mulino bianco bakers, Monginis limited, Finsbury, and Pepperidge Farm.

The New Launched Product News,

• In April 2023, Bakingo, a leading cakes and desserts connoisseur, has unveiled its latest collection of exquisite cakes featuring six heavenly flavors. With this introduction, the company—which is well-known for bringing freshly baked cakes and pastries to customers' doorsteps—has gone one step further in satisfying consumers' specific cravings. Delectable and exquisite flavors like as Belgian chocolate, Trio Mousse, Nutella Hazelnut, Biscoff Baked Cheesecake, German Black Forest cake, and Opera Coffee Chocolate cake can be found in Bakingo's exclusive cake collection.
• In September 2020, King’s Pastry expands their distribution throughout the U.S., and launched a new premium layered bar cake brand, Château Bakery, featuring internationally-inspired flavors meant to satisfy the growing consumer demand for unique international flavor profiles throughout the food industry. American Classics and European flavors with Fresh Raspberry Chocolate, Silky Boston Cream, Exquisite Tuxedo, Tiramisu Classico, Victorian Strawberry, and Raspberry Limoncello Luminoso are among the original flavors offered by Château. The Dulce de Leche Cremoso, Churro Delicioso, Tres Leches de Fresas, and Tres Leches de Café are among the new Latin American flavor range offered by Château.