Market Size of China Cakes, Pastries, and Sweet Pies Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 10.13 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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China Cakes, Pastries, & Sweet Pies Market Analysis
The Chinese cakes, pastries, and sweet pies market is expected to register a CAGR of 10.13% over the forecast period (2022-2027).
In the first half of 2020, due to the impact of the COVID-19 epidemic, necessary measures were taken to prevent and control the epidemic, resulting in the suspension of production of bread bakery factories, interruption of the supply chain, and closure of offline stores, which caused the industry's supply chain system to be disrupted and reduced production efficiency. The epidemic has caused consumers to increase health awareness. Although offline sales channels had been affected by the epidemic and reduced sales, online sales channels had experienced explosive growth. The impact of the COVID-19 epidemic on small and medium-sized enterprises was even more significant because they could not resist risks.
The market is mainly driven by changing lifestyles and increased consumer taste for premium baked goods. Pastries and Sweet Pies are the largest segments and are witnessing rapid growth.
On the other hand, large industrial manufacturers, high-end or large bakery chains, retail outlets, and luxury hotels incorporated their stronghold in making fancy baked products to satisfy the demand for high quality mostly from the middle to high-income urban families and well-educated young generation. This factor is increasing the competition for international players.
