Cakes Market - Growth, Trends, and Forecasts (2023 - 2028)

The Cakes Market is Segmented by Form (Packaged and Unpackaged/Artisanal), Product Type (Cupcakes, Dessert Cakes, Cheesecakes, Sponge Cakes, and Other Cakes), Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Convenience Stores, Online Retail Stores, and Other Distribution Channels), and by Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The report offers market sizes and forecasts in value (USD million) for the above segments.

Cakes Market Size

Cakes Market Summary
Study Period: 2018 - 2028
Fastest Growing Market: Asia Pacific
Largest Market: Europe
CAGR: 3.72 %

Major Players

Cakes Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Cakes Market Analysis

The cakes market is projected to register a CAGR of 3.72% over the forecast period.

As more events like birthdays, anniversaries, and success parties involve cutting cakes, the cake market is predicted to grow over the medium term. Also, the growing demand for easy and convenient foods like cupcakes, mini sponge cakes, muffins, etc., in all parts of the world is driving the market. People have become very health conscious and prefer their food to be tasty and nutritious. The trend of on-the-go food is going on worldwide owing to fast lifestyles and urbanization. Market players are preparing products that are small in size and easy to carry. For instance, in April 2021, McKee Foods Corp's brand Little Debbies launched Honey Bun Mini Muffins. The new muffins contain the same flavors as Little Debbie's classic Honey Buns but in a -smaller size.

Over the medium term, unpackaged/artisanal cakes led in terms of sales, while packaged/industrial cakes continued to decline in value terms. Rising consumption, shifting preferences, and the emergence of small producers are among the changes transforming the organized cake industry. Customized cakes are a recent trend in many countries like the United States, United Kingdom, India, China, Japan, and many more. Local cake shops and brands like Cake Box in the United Kingdom, Monginis and Theobroma in India, and Pinkbella in the United States provide good quality customized cakes in particular regions. People prefer their artisanal cakes to be created to their specifications, such as low in sugar, gluten-free, and with unique designs and decorations. This factor is boosting the artisanal cakes market in many regions.

Cakes Industry Segmentation

Cakes are bakery products that are rich in fat, cream, sugar, eggs, and flour, and they can be accompanied by a wide variety of inclusions, such as fruits and flavors like vanilla extracts. The cakes market is segmented by form, product type, distribution channel, and geography. By form, the market is segmented into packaged and unpackaged/artisanal. By product type, the market is segmented into cupcakes, dessert cakes, cheesecakes, sponge cakes, and other cakes. By distribution channel, the market is categorized into supermarkets/hypermarkets, specialty stores, convenience stores, online retail stores, and other distribution channels. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. For each segment, the market sizing and forecasts have been done on the basis of value (USD million).

By Form
By Product Type
Dessert Cakes
Sponge Cakes
Other Cakes
By Distribution Channel
Specialty Stores
Convenience Stores
Online Retail Stores
Other Distribution Channels
By Geography
North America
United States
Rest of North America
United Kingdom
Rest of Europe
Rest of Asia-Pacific
South America
Rest of South America
Middle East and Africa
South Africa
Saudi Arabia
Rest of Middle East and Africa

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Cakes Market Trends

This section covers the major market trends shaping the Cakes Market according to our research experts:

Rise of In-store Bakeries Augmenting Market Growth

The rise of in-store bakeries is projected to attract a significant number of consumers, further contributing to accelerated market growth. Many in-store bakeries in different regions are launching products, especially for in-store consumption experiences. For instance, in May 2022, Warburtons, one of the key bakery brands in the United Kingdom, launched a new store in New York called Ellie Warburtons Cakes. The brand is offering a range of bakery products, including a signature range of premium sweet treats, special blend coffees, locally sourced teas, and a menu of other baked goods, including a first for Warburtons, a banana fruit bread.

Consumers who are looking for value-based cake products are attracted to artisanal bakeries with high-margin products. Consumers are shifting their preferences to bakery products like cake, muffins, cupcakes, etc., due to their functional qualities that suit people's dietary needs, such as organic, gluten-free, natural ingredients, kosher, and the inclusion of flours other than wheat flour, such as chia flour and rice flour. For instance, in June 2021, Warburtons launched two new gluten-free chocolate cake squares. The flavors of these two cakes are Chocolate Orange & Gingerbread and Raspberry & Hazelnut. With this innovation, the demand for freshly baked cakes using organic ingredients has increased, which is boosting the current cakes market globally, along with a rise in online sales and the launch of the latest products. Additionally, another segment of consumers, the value-conscious consumers, are spending on lower-priced cakes offered by in-store bakeries, along with the convenience of one-stop shopping, further adding to the market's sales.

Cakes Market: Reasons for Purchasing at in-Store Delis or Bakeries in %, United Kingdom, 2021

The Consumption of Cake Products is Burgeoning in the Asia-Pacific Region

The consumption of cakes is dramatically on the rise in the Asia-Pacific region, particularly as more individuals in countries like Japan, China, and India are adopting western diets, boosting cake sales. The potential for increased market penetration and cake consumption per capita is considerable in Asia's developing markets. At the same time, in the developed markets, the invention of the latest organic flavors, vegan ingredients, and healthy and natural ingredients will sum up consumption frequency. According to the International Agricultural Trade Report from 2021, in China, 41% of their sales in bakeries come from selling cakes in retail stores. Also, rising sophistication in flavor preferences in cakes boosts the sales of cake products in China. In countries such as India, as consumers’ preference for nutritious and eye-appealing products grows, brands operating in the cake market have further improved their products’ shelf-life without any compromise on taste and organoleptic properties, which has eventually led cake manufacturers to switch from fresh to frozen categories in almost all the bakery segments.​ For instance, in July 2020, Goyo Foods Industry Co., a Japanese frozen confectionery maker, started producing frozen cakes in Thailand in partnership with a domestic manufacturer. The company will produce its frozen cakes at a factory of Srifa Frozen Foods Co. in the west of Bangkok. The cakes would be supplied to convenience stores, café chains, and hotels, among other businesses, in Thailand.

Cakes Market - Market Share (%), By Geography, Global, 2021

Cakes Industry Overview

The cakes market is competitive and is still growing owing to the product variants across packaging formats, flavors, and sizes. The market vendors are developing new products with an emphasis on organic and gluten-free variants to increase their market shares and gain traction in the global marketplace. The cake manufacturers and brand owners who dominate the domestic markets are making strategic acquisitions of domestic cake producers. Acquiring these brands enables diversification and further creates growth opportunities. Major players operating in the market include Hostess Brands Inc., DoFreeze LLC, Britannia Industries, and Grupo Bimbo.

Cakes Market Leaders

  1. Grupo Bimbo, S.A.B. de C.V.

  2. Hostess Brands, Inc.

  3. DoFreeze LLC

  4. McKee Foods Corporation

  5. Flowers Foods, Inc.

*Disclaimer: Major Players sorted in no particular order

Cakes Market Concentration

Cakes Market News

  • November 2022: Hostess Brands Inc. introduced sweet holiday snacks for the winter. The offerings will include the seasonal debut of Holiday HoHos, Holiday CupCakes, Mint Chocolate Flavored Twinkies, and Hot Cocoa & Marshmallow Flavored Donettes.
  • September 2022: Hostess brands launched new Hostess Bouncers in which the company provides bite-sized snack cakes with creamy fillings. The Hostess Bounces are available in three flavors such as Hostess Twinkies, Hostess DingDongs, and Hostess Donettes.
  • November 2021: McKee Foods Corp. introduced Little Debbie Strawberry Shortcake Mini Muffins to their mini muffin portfolio. The bite-sized muffins come in four to a pouch and five pouches to a carton, with a recommended retail price of USD 2.59. The muffins have a strawberry and vanilla shortcake flavor profile.

Cakes Market Report - Table of Contents


    1. 1.1 Study Deliverables and Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry


    1. 5.1 By Form

      1. 5.1.1 Packaged

      2. 5.1.2 Unpackaged/Artisanal

    2. 5.2 By Product Type

      1. 5.2.1 Cupcakes

      2. 5.2.2 Dessert Cakes

      3. 5.2.3 Cheesecakes

      4. 5.2.4 Sponge Cakes

      5. 5.2.5 Other Cakes

    3. 5.3 By Distribution Channel

      1. 5.3.1 Supermarkets/Hypermarkets

      2. 5.3.2 Specialty Stores

      3. 5.3.3 Convenience Stores

      4. 5.3.4 Online Retail Stores

      5. 5.3.5 Other Distribution Channels

    4. 5.4 By Geography

      1. 5.4.1 North America

        1. United States

        2. Canada

        3. Mexico

        4. Rest of North America

      2. 5.4.2 Europe

        1. Germany

        2. United Kingdom

        3. France

        4. Russia

        5. Spain

        6. Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. China

        2. Japan

        3. India

        4. Australia

        5. Rest of Asia-Pacific

      4. 5.4.4 South America

        1. Brazil

        2. Argentina

        3. Rest of South America

      5. 5.4.5 Middle East and Africa

        1. South Africa

        2. Saudi Arabia

        3. Rest of Middle East and Africa


    1. 6.1 Strategies Adopted by Key Players

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 Grupo Bimbo S.A.B. de C.V.

      2. 6.3.2 Hostess Brands Inc.

      3. 6.3.3 DoFreeze LLC

      4. 6.3.4 McKee Foods Corporation

      5. 6.3.5 Flowers Foods Inc.

      6. 6.3.6 Bonn Group of Industries

      7. 6.3.7 Yamazaki Baking Company Ltd

      8. 6.3.8 Britannia Industries Limited

      9. 6.3.9 Monginis Foods Private Limited

      10. 6.3.10 Valeo Foods Group

    4. *List Not Exhaustive

**Subject to Availability
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Cakes Market Research FAQs

The Cakes Market market is studied from 2016 - 2027.

The Cakes Market is growing at a CAGR of 3.72% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Europe holds highest share in 2021.

Grupo Bimbo, S.A.B. de C.V., Hostess Brands, Inc., DoFreeze LLC, McKee Foods Corporation, Flowers Foods, Inc. are the major companies operating in Cakes Market.

Cakes Industry Report

Statistics for the 2023 Cakes market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Cakes analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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