Market Snapshot
| Study Period: | 2016 - 2026 |
| Base Year: | 2020 |
| Fastest Growing Market: | Asia Pacific |
| Largest Market: | Europe |
| CAGR: | 3.44 % |
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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).
| By Flavor | |
| Sweet | |
| Savory |
| By Product Type | |
| Packaged Pastries | |
| Unpackaged/Artisanal Pastries |
| By Distribution Channel | |
| Online Retail Stores | |
| Supermarkets/ Hypermarkets | |
| Convenience Stores | |
| Other Distribution Channels |
| Geography | ||||||||
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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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Increasing Consumption of Pastries in the Middle East
The consumption of pastries in the developing markets, such as Asia-Pacific, is based on certain factors, like an increase in the consumption of snacks and convenience foods. Moreover, there is a growing demand for the decorated pastry cake segment. This consumer shift is due to the rise in disposable income and preference for innovative products. 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 pastries in particular. China is set to become one of the largest baked goods markets globally by 2022, with pastries being one of the most popular segments. Owing to this factor, the Asia-Pacific pastry market is expected to witness a potential increase in sales growth during the forecast period.
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Competitive Landscape
The market for pastries is highly competitive due to the presence of many regional and international suppliers. In addition, new healthier varieties, with less fat, are being introduced by vendors to attract the health-conscious population. Some major players in this market include Flowers Foods, Grupo Bimbo, Hostess Brands, McKee Foods, and The Essential Baking Company.
Recent Developments
- In June 2020, Mondelez India entered the India cakes and pastries market with the launch of Cadbury Cocobakes Choc Layered Cakes. In less than a year, this was the company’s second launch under the Chocobakery sub-category after the successful launch of Cadbury Chocobakes Choco-filled Cookies.
- In June 2019, Warrens Bakery introduced a new range of cheese and Marmite pastry. The product launch was made possible after Warrens Bakery collaborated with Marmite.
- In February 2019, Rubicon Bakers introduced a new addition to their product line, a 4-pack vegan Neapolitan Cupcakes available at retailers across the United States.
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 By Flavor
5.1.1 Sweet
5.1.2 Savory
5.2 By Product Type
5.2.1 Packaged Pastries
5.2.2 Unpackaged/Artisanal Pastries
5.3 By Distribution Channel
5.3.1 Online Retail Stores
5.3.2 Supermarkets/ Hypermarkets
5.3.3 Convenience Stores
5.3.4 Other Distribution Channels
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.1.4 Rest of North America
5.4.2 Europe
5.4.2.1 Spain
5.4.2.2 United Kingdom
5.4.2.3 Germany
5.4.2.4 France
5.4.2.5 Italy
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 Rest of Asia-Pacific
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle East & Africa
5.4.5.1 South Africa
5.4.5.2 Saudi Arabia
5.4.5.3 Rest of Middle East & 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 Aryzta AG
6.3.3 Britannia Industries
6.3.4 Flowers Foods
6.3.5 George Weston Limited
6.3.6 Groupo Bimbo
6.3.7 Hillshire Brands Company
6.3.8 Hostess Brands LLC
6.3.9 McKee Foods Co.
6.3.10 Finsbury Food Group PLC
*List Not Exhaustive7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Pastries Market market is studied from 2016 - 2026.
What is the growth rate of Pastries Market?
The Pastries Market is growing at a CAGR of 3.44% over the next 5 years.
Which region has highest growth rate in Pastries Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Pastries Market?
Europe holds highest share in 2020.
Who are the key players in Pastries Market?
McKee Foods Corporation, Flowers Foods, Grupo Bimbo, Hostess Brands, LLC, The Essential Baking Company are the major companies operating in Pastries Market.
