Global Cakes and Pastries Market is segmented on the basis
of product as Artisanal and in-store bakeries and Packaged/industrial products.
Pastries incorporate a wide range of baked products that are formed including
ingredients like flour, sugar, milk, butter, shortening, baking powder, as well
as eggs.It is dough of flour, water and shortening that may be savory or
sweetened. And as far as cake is concerned, it is a kind of sweet dessert that
is usually baked in the global cakes and pastries market.
The prominent factors that are playing a very important role in driving the
growth of the market include rise in the urbanization, augmented demand from
millennials, intensified indulgence in cakes and pastries, and rise in the new
innovations in the bakery market.On the other hand, augmentation in the
disposable income has eventually raised the level of the purchasing power
across the globe and that is in turn having an optimistic influence on the
cakes and pastries market. Global Cakes and Pastries Market is currently
undergoing a significant trend of augmentation in the at-home consumption.
It has been observed that the manufacturers are putting more
emphasis on mingling taste and health together in their products via mixing
fibre, vegetables and a blend of protein and fibre in them. They have included
healthy ingredients like whole grains into their products plus, they have
tagged their products registering all the included ingredients in order to make
the consumers more informed and clear about their preferences. Most of the
leading companies have trimmed down the portion sizes of their products
focusing on the consumers who are calorie conscious.
The demand for pastries and cakes is tremendously mounting because of the
indulgence and flavor innovation. Moreover, more than half of the population
dwells in urban areas and the working population mostly opts for on-the-go
foods like pastries, cake snacks, and sweet pies, which are in turn providing a
great stimulus to the market. The factors that are acting as major hurdles in
the growth of the market includes reduction in the share of packaged cakes and
growing concerns about obesity and related health issues.
Global Cakes and PastriesMarket is gaining huge recognition
across the world due to its rising preference among children as well as youth
and it is anticipated that the market will witness the highest CAGR in the near
future. Global Cakes and Pastries Market is segmented on the basis of
geographical region as North America, Europe, Asia Pacific, Middle East Africa,
and Rest of the World.
As far as the geography is concerned, Asia Pacific is currently covering the
largest share in the market and it is anticipated that the region will witness
a huge growth in the next couple of years, the reason being rise in the
population and per capita consumption. China is the major contributor in
raising the market growth owing to huge volume of sales of pastries. On the
other hand, Asia Pacific and North America are also emerging significantly and
are contributing a larger share in the market, the reason being rise in the
product introductions and augmented penetration of the products.
The key players operating in the Global Cakes and PastriesMarket include McKee
Foods, Yamazaki Baking, Aryzta, BreadTalk, Britannia, American Baking Company,
Finsbury, Flowers Foods, Grupo Bimbo, Hostess Brands, Edeka, Edwards, Edwards
Cake & Candy Supplies, George Weston, Mulinobianco, Monginis, Pepperidge
Farm, Hillshire Brands, and Hostess Brands.
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