Pastries Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The global pastries market is projected to witness a CAGR of 3.44% during the forecast period, 2021-2026.

Due to the impact of COVID-19, pastries witnessed greater sales, including frozen and fresh products, owing to the surge in demand for convenience food. However, artisanal pastries observed a decline in sales due to limited consumer expenditure on non-essential food products and limited production of artisanal pastries, attributed to the social distancing and lockdown measures imposed by the government of various countries around the world.

The growing popularity of customizable pastries and increasing product innovation are expected to drive the market’s growth during the forecast period.

The use of specialty ingredients, like whole-grain bread, concentrates, and sweet goods mixes in pastries, has seen major developments as a part of the overall demand for healthy ingredients, indulgence without calories, and high demand for on-the-go food products. Sweet indulgences, like cupcakes and slice cakes, are purchased based on appearance, texture, mouthfeel, and other subjective attributes, and the focus on healthy ingredients is given second priority.

Scope of the Report

Pastries are varied kinds of baked products made from flour, sugar, milk, butter, shortening, baking powder, and eggs. The global pastries market is segmented by flavor, product type, distribution channel, and geography. By flavor, the market includes sweet and savory pastries. By product type, the market is segmented into packaged pastries and unpackaged or artisanal pastries. By distribution channel, the market is segmented into online retail stores, supermarkets/hypermarkets, convenience stores, and other distribution channels. Moreover, the study provides an analysis of the pastries market in the emerging and established markets across the world, including North America, Europe, Asia-Pacific, South America, and Middle East & Africa. For each segment, the market sizing and forecasts have been done based on value (in USD million).

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Key Market Trends

Growing Demand for Freshly Baked Pastries

Globally, consumers are turning to bakery products that offer functional benefits and suit the specific dietary needs of consumers, such as gluten-free, kosher, organic, and natural ingredients, and use of flour, such as rice flour and chia flour, other than wheat flour. Additionally, consumers are looking for food products that deliver instant nutrition. Therefore, they are willing to pay more for such products, thereby allowing a substantial innovation in the respective product category. Hence, the increasing demand for freshly baked pastries can be considered an opportunity in this market and an increase in online sales and new product launches.

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