Cakes and pastries are most important products in bakery industry. 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.
Key factors driving growth of the global cakes and pastries market during forecast period are increasing urbanization, augmented demand from millennials, intensified indulgence in cakes and pastries, innovations in bakery industry, and consumer preference for food. Additionally, increasing disposable income affect the level of purchasing power across the globe and that influence the cakes and pastries market. In addition, increasing western-styled bakery in the Asia Pacific region may fuel demand for cakes and pastries over the forecast period.
However, healthy diet trends, growing concerns about obesity and health related issues are major key factors restraining growth of the global cakes and pastries market during forecast period. Significant trend of growing at-home consumption may hamper growth of the global cakes and pastries market.
The global cakes and pastries market report has been segmented on the basis of product, and region. On the basis of region, into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Currently, the market in North America followed by Europe dominates the global cakes and pastries market in terms of revenue, owing to rising demand for the convenience food, changing consumer test over the forecast period. Emerging economies in Asia Pacific such as India, and China are expected to provide numerous opportunities for increasing consumption of cakes and pastries, owing to high population in this region. Additionally, rising disposable income of consumer, enabling them to afford expensive food products, is also fuelling growth of the global cakes and pastries market over the forecast period.
Prominent players in the global cakes and pastries market include Groupo Bimbo, Flower Foods, Finsbury, Tyson Foods, Inc., Yamazaki Baking Co., Ltd., MCKEE FOODS, Hostess Brands, LLC., American Baking Company, Aryzta AG, and BreadTalk Group Limited.
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