Market Snapshot
2016-2024
2018
Asia Pacific
Asia Pacific
3.5%
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Cakes Market
The global cakes market is projected to grow at a CAGR of 3.5% during the forecast period.
- Unpackaged/artisanal cakes led sales in the cakes category, while packaged/industrial cakes continued to decline in both volume and value terms.
- Rising consumption, shifting preferences, and the emergence of small producers are among the changes transforming the organized cake industry.
Scope of the Report
The scope of the market includes cakes, such as cupcakes, dessert cakes, cheese cakes, sponge cakes, and other cakes by product type. By distribution channel, the market is categorized as supermarkets/ hypermarkets, specialist retailers, convenience stores, and others.
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| Supermarkets/ Hypermarkets | |
| Specialist Retailers | |
| Convenience Stores | |
| Other Distribution Channels |
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Key Market Trends
Rise in In-Store Bakeries
The rise in supermarket in-store bakery is projected to attract a significant number of consumers, further contributing toward accelerated market growth. Consumers are looking for value-based products and are attracted to artisanal bakeries with high-margin products. The in-store bakeries are found in supermarket or hypermarkets have a comparatively small floor area. However, it offers an extensive range of fresh-baked products with clean labels and healthier ingredients, owing to the demand for health-conscious consumers.
The increasing volumes of cakes in the in-store bakery is significantly observed, for cakes are dominating the dessert category, in the in-store bakery. Likewise, cakes are indulgent products that entice consumers shopping in supermarkets. The value-conscious consumers are spending on lower priced cakes offered by the in-store bakeries and the convenience of one-stop shopping further adds to the sales of the market.
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Asia Pacific Accounts for Maximum Revenue Share
Asia-Pacific is becoming a key market, as rising disposable income, urbanization, and the demand for western-style diets are supporting the growth in sales of baked goods and cakes in particular. China is set to become the second-largest baked goods market globally by 2022, with cakes being one of the most popular segments. These markets are attractive to major corporates, which see the potential for significant sales growth.
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Competitive Landscape
The cakes market is fragmented 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 share and gain traction in global marketplace. The bakery manufacturers and brand owners who dominate the domestic markets, are making strategic acquisitions of the market leaders, and often iconic brands, in more mature and sophisticated markets. Acquiring these brands enables diversification and gives these players access to stable cash flows and further growth opportunities.
Major Players
* Complete list of players covered available in the table of contents below
Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porters 5 Force Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Distribution Channel
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5.1.1 Supermarkets/ Hypermarkets
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5.1.2 Specialist Retailers
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5.1.3 Convenience Stores
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5.1.4 Other Distribution Channels
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5.2 Geography
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5.2.1 North America
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5.2.1.1 United States
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5.2.1.2 Canada
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5.2.1.3 Mexico
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5.2.1.4 Rest of North America
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5.2.2 Europe
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5.2.2.1 Germany
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5.2.2.2 United Kingdom
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5.2.2.3 France
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5.2.2.4 Italy
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5.2.2.5 Russia
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5.2.2.6 Spain
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5.2.2.7 Rest of Europe
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5.2.3 Asia-Pacific
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5.2.3.1 India
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5.2.3.2 China
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5.2.3.3 Australia
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5.2.3.4 Japan
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5.2.3.5 Rest of Asia-Pacific
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5.2.4 South America
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5.2.4.1 Brazil
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5.2.4.2 Argentina
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5.2.4.3 Rest of South America
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5.2.5 Middle East & Africa
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5.2.5.1 UAE
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5.2.5.2 South Africa
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5.2.5.3 Rest of Middle East & Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Market Share Analysis
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6.2 Most Active Companies
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6.3 Most Adopted Strategies
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6.4 Company Profiles
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6.4.1 American Baking Company
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6.4.2 Britannia
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6.4.3 Euro Cakes
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6.4.4 General Mills
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6.4.5 Flower Foods
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6.4.6 George Weston
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6.4.7 Grupo Bimbo
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6.4.8 Hillshire Brands
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6.4.9 Hostess Brands
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6.4.10 McKee Foods
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*List Not Exhaustive -
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
