Pastries Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Global Pastries Market is segmented by Flavor (Sweet and Savory), Product Type (Packaged Pastries and Unpackaged/Artisanal Pastries), Distribution Channel (Online Retail Stores, Supermarkets/ Hypermarkets, Convenience Stores, and Other Distribution Channels), and Geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa). The report offers market size and forecasts in value (USD million) for the above segments.

Market Snapshot

Pastries Market Overview
Study Period: 2016 -2027
Base Year: 2021
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, 2022-2027.

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 declined 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 significant 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 various baked products made from flour, sugar, milk, butter, shortening, baking powder, and eggs. Pastries are considered bakers' confectionery products. 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 on-trade and off-trade channels. Off-trade channels further include online retail stores, supermarkets/hypermarkets, convenience stores, Specialty Stores, and other distribution channels. Moreover, the study analyzes the pastries market in the emerging and established markets worldwide, 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
On-trade
Off-trade
Online Retail Stores
Supermarkets/ Hypermarkets
Convenience Stores
Specialty Stores
Other Distribution Channels
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Spain
United Kingdom
Germany
France
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle-East & Africa
South Africa
Saudi Arabia
Rest of Middle-East & Africa

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Key Market Trends

Preference for Healthy and Free-from Bakery Products.

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. With the increasing emergence of chronic diseases such as diabetes, the preference for nutrient-rich pastries has increased drastically. Additionally, consumers are looking for food products that deliver instant nutrition. Therefore, they are willing to pay more for such products, allowing substantial innovation in the respective product category. Hence, the increasing demand for freshly baked free-from pastries can be considered an opportunity in this market and an increase in online sales and new product launches.

A rising interest in nutritional pastries has been observed among the consumers, as they demand products with clean-label ingredients, making them suitable for diabetic consumers. Consumers consider a product “clean” only if it contains wholesome, natural, and organic ingredients. Consumers’ purchasing habits seek to limit the differentiability of the nutritional ingredients used in the product. ​

Pastries Market1

Asia-Pacific Holds Significant Market Share

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 rising 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 support the growth in sales of baked goods and pastries. 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.

Global Pastries Market2

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. In addition to offering unique and customized products, companies are focused on enhancing and expanding their distribution network. Many players are focused on product offerings via various online platforms to increase their consumer reach. Some major players in this market include Flowers Foods, Grupo Bimbo, Hostess Brands, McKee Foods, and The Essential Baking Company.

Recent Developments

In August 2021, Rubicon Bakers, a portfolio company of Trive Capital, acquired Just Desserts, a handmade desserts brand in California. Just Desserts produces a wide range of premium desserts and pastries, traditionally handcrafted to its recipes. The strategic acquisition will help Rubicon Brands expand its products’ reach in the specialty and mainstream grocery market.

In August 2021, Europastry brands with Verdeo, a company dedicated to creating new ways to use olive oil in food products, launched a range of pastries, Olive. The new range, including croissants, donuts, and muffins, is made with 100 percent olive oil instead of butter and palm oil.

In June 2020, Mondelez India entered the Indian 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.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Flavor

      1. 5.1.1 Sweet

      2. 5.1.2 Savory

    2. 5.2 By Product Type

      1. 5.2.1 Packaged Pastries

      2. 5.2.2 Unpackaged/Artisanal Pastries

    3. 5.3 By Distribution Channel

      1. 5.3.1 On-trade

      2. 5.3.2 Off-trade

        1. 5.3.2.1 Online Retail Stores

        2. 5.3.2.2 Supermarkets/ Hypermarkets

        3. 5.3.2.3 Convenience Stores

        4. 5.3.2.4 Specialty Stores

        5. 5.3.2.5 Other Distribution Channels

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

        4. 5.4.1.4 Rest of North America

      2. 5.4.2 Europe

        1. 5.4.2.1 Spain

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 Germany

        4. 5.4.2.4 France

        5. 5.4.2.5 Italy

        6. 5.4.2.6 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 Rest of Asia-Pacific

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle-East & Africa

        1. 5.4.5.1 South Africa

        2. 5.4.5.2 Saudi Arabia

        3. 5.4.5.3 Rest of Middle-East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Strategies Adopted by Leading Players

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 American Baking Company

      2. 6.3.2 Aryzta AG

      3. 6.3.3 Britannia Industries

      4. 6.3.4 Flowers Foods

      5. 6.3.5 Groupo Bimbo

      6. 6.3.6 Hostess Brands LLC

      7. 6.3.7 McKee Foods Co.

      8. 6.3.8 Tyson Foods

      9. 6.3.9 Europastry Brands

      10. 6.3.10 Finsbury Food Group PLC

      11. 6.3.11 Trive Capital (Rubicon Bakers)

    4. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. IMPACT OF COVID-19 ON THE MARKET

**Subject to Availability

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Frequently Asked Questions

The Pastries Market market is studied from 2016 - 2027.

The Pastries Market is growing at a CAGR of 3.44% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Europe holds highest share in 2021.

McKee Foods Corporation, Flowers Foods, Grupo Bimbo, Hostess Brands, LLC, The Essential Baking Company are the major companies operating in Pastries Market.

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