Cakes, Pastries, and Sweet Pies Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.90 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Cakes, Pastries, and Sweet Pies Market Analysis
The Cakes, Pastries, and Sweet Pies market is projected to register a CAGR of 3.9% during the forecast period.
Increasing indulgence in cake, pastries, and sweet pies along with innovation in the bakery industry driving the market all over the world. The bakery sector has seen many innovations, particularly in flavor and topping, as more people become interested in food experiments. As a result, the popularity of custom cakes is expected to drive market growth over the forecast period.
Rising consumption of ready-to-eat food with the convenience factor, with changing preferences for flavored food products, is pushing the revenue generation in the global cakes, pastries, and sweet pies market. Additionally, the introduction of bakery products, including cakes, pastries, and sweet pies, with health claims, such as lower amounts of high-fructose corn syrup and sodium and higher amounts of fiber, is expected to attract consumers to such products, and thus, help the overall market to grow.
Moreover, bakery products' ingredients that provide functional benefits and are suitable for the consumer's specific dietary needs, such as wheat gluten, kosher, organic, and other natural ingredients are also driving the demand for pastries, cakes, and sweet pies. In March 2022, Morrisons launched a range of vegan pastries at its market street bakery counter across the United Kingdom. The company claims that this pastry range is ideal for health-conscious consumers who seek plant-based and meat-free alternatives to conventional food products.
Cakes, Pastries, and Sweet Pies Market Trends
Shifting Consumer Inclination Toward Ready-to-Eat Products
The definition of convenience is evolving with dynamic demands from consumers. Cake mixes were one of the bakery products that gave birth to the concept of convenience. For ease of consumption, convenience food is often a whole meal prepared professionally. Since many consumers lack cooking abilities and work long hours, the market for convenient food products like cakes, pastries, and sweet pies is growing.
Customers prefer natural, individualized products that do not compromise flavor, health, or ingredient goals. Manufacturers emphasize satisfying the needs and requirements of consumers looking for convenient food options with high quality, taste, and preference. The demand for high-quality bakery products is rising, especially among millennials and Generation Z, owing to the increasing prevalence of convenience or ready-to-eat food products.
The artisanal bakery sector is also playing a vital role in the market's growth. Artisanal bakery products are highly customized and rich in protein, carbohydrates, and dietary fiber, bolstering product sales. There is a significant rise in occasional cravings for hot and freshly baked bread, cakes, and pastries, which are in high demand worldwide. Such products are only available through artisanal players, thereby driving the artisanal bakery products market.
Asia-Pacific to Witness Fastest Market Growth
Asia-Pacific is becoming a key market as rising disposable income, urbanization, and the demand for Western-style diets support the growth in sales of baked goods and cakes. China is set to become the second-largest baked goods market by the end of the forecast period, with cakes being one of the most popular segments. These markets are attractive to major corporates, which see the potential for significant sales growth.
The demand for sugar-free baked goods is being driven by the rising incidence of diabetes across Asia-Pacific and worldwide. The increasing demand for simple dining has resulted in the utilization of various foods, with baked goods and confectionery having become staple food options in the convenience food category. According to the American Diabetes Association, more than half of the diabetic population lives in Asia, with China and India accounting for nearly half of all cases.
The introduction of healthy food options in the bakery sector is gaining popularity at a significant pace due to the fortification of bakery items to address the needs of health-conscious consumers and the growing demand for innovative and healthy food options. As a result, the region is experiencing a significant growth potential.
Cakes, Pastries, and Sweet Pies Industry Overview
The cakes, pastries, and sweet pies market is highly competitive, particularly with the significant presence of numerous global and regional players. The players in the market use various corporate strategies like product innovations to cater to the needs of the consumers. For example, manufacturers are introducing various clean-label, gluten-free, and uniquely flavored bakery products to increase their consumer base. The players in the market also adopt other strategies like acquisitions and expansions to penetrate the markets further. Acquisition of brands enables diversification and gives these players access to stable cash flows and growth opportunities. American Baking Company, Britannica Inc., General Mills Inc., Group Bimbo, and Tyson Foods are the leading players engaged in the cakes, pastries, and sweet pies market.
Cakes, Pastries, and Sweet Pies Market Leaders
Britannia Industries Limited
General Mills, Inc.
Tyson Foods
Flowers Foods, Inc.
Grupo Bimbo, S.A.B. de C.V.
*Disclaimer: Major Players sorted in no particular order
Cakes, Pastries, and Sweet Pies Market News
- In January 2023, Mr. Kipling, a brand of Premier Foods, launched a range of non-HFSS hot cross pies. The company claims that the non-HFSS pies contain 30% less sugar and real fruit pieces than a traditional pie, making them ideal for driving penetration among health-conscious consumers.
- In October 2022, Willamette Valley Pie Co. introduced the new brand BerryFields with almond butter and fruit hand pies. As per the company's claims, the freeze-to-thaw sandwich pastries come in mixed berry, strawberry, and grape varieties, are made with non-GMO-certified ingredients, and contain 4 grams of protein. Each flavor has an all-butter crust and includes almond butter.
- In March 2022, Samworth Brothers extended its product portfolio under the brand Higgidy and launched a range of vegan pastries. The range includes roasted chickpea masala vegan pie, petit pois and courgette flavor little vegan quiche. The quiche will be sold at Tesco and contains shortcrust dough with seeds and a filling that is seasoned with mint and chill. The chickpea curry pie, which has layers of creamy filling, will be sold at Sainsbury's, Waitrose, and Ocado.
Cakes, Pastries, and Sweet Pies Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Product Type
5.1.1 Cakes
5.1.2 Pastries
5.1.3 Sweet Pies
5.2 Distribution Channel
5.2.1 Supermarkets/Hypermarkets
5.2.2 Specialist Retailers
5.2.3 Convenience Stores
5.2.4 Online Retail Stores
5.2.5 Other Distribution Channels
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Russia
5.3.2.6 Spain
5.3.2.7 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 India
5.3.3.2 China
5.3.3.3 Australia
5.3.3.4 Japan
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Strategies Adopted by Leading Players
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 American Baking Company
6.3.2 Britannica Inc.
6.3.3 General Mills Inc.
6.3.4 Flowers Foods Inc.
6.3.5 Grupo Bimbo SAB de CV
6.3.6 Tyson Foods (Hillshire Brands Company)
6.3.7 Hostess Brands LLC
6.3.8 McKee Foods Corporation
6.3.9 Premier Foods (Mr Kipling)
6.3.10 Samworth Brothers (Higgidy)
6.3.11 Willamette Valley Pie Co.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Cakes, Pastries, and Sweet Pies Industry Segmentation
Cakes, pastries, and sweet pies are referred to as baked products made from ingredients such as sugar, flour, butter, milk, baking powder, shortening, and eggs.
The cakes, pastries, and sweet pies market is segmented into product type, distribution channel, and geography. Based on product type, the market is segmented into cakes, pastries, and sweet pies. Based on distribution channel, the market is segmented into supermarkets/hypermarkets, specialist retailers, convenience stores, online retail stores, and other distribution channels. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East and Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).
| Product Type | |
| Cakes | |
| Pastries | |
| Sweet Pies |
| Distribution Channel | |
| Supermarkets/Hypermarkets | |
| Specialist Retailers | |
| Convenience Stores | |
| Online Retail Stores | |
| Other Distribution Channels |
| Geography | |||||||||
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Cakes, Pastries, and Sweet Pies Market Research FAQs
What is the current Cakes, Pastries, and Sweet Pies Market size?
The Cakes, Pastries, and Sweet Pies Market is projected to register a CAGR of 3.9% during the forecast period (2024-2029)
Who are the key players in Cakes, Pastries, and Sweet Pies Market?
Britannia Industries Limited, General Mills, Inc., Tyson Foods, Flowers Foods, Inc. and Grupo Bimbo, S.A.B. de C.V. are the major companies operating in the Cakes, Pastries, and Sweet Pies Market.
Which is the fastest growing region in Cakes, Pastries, and Sweet Pies Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Cakes, Pastries, and Sweet Pies Market?
In 2024, the Europe accounts for the largest market share in Cakes, Pastries, and Sweet Pies Market.
What years does this Cakes, Pastries, and Sweet Pies Market cover?
The report covers the Cakes, Pastries, and Sweet Pies Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Cakes, Pastries, and Sweet Pies Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Cakes, Pastries, and Sweet Pies Industry Report
Statistics for the 2024 Cakes, Pastries, and Sweet Pies market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Cakes, Pastries, and Sweet Pies analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
