Global Cakes and Pastries Market to Expand at 3.76% CAGR from 2016 to 2020 owing to Rising Indulgence in Cakes and Pastries

Published Date : May 09, 2016

ALBANY, New York, May 09, 2016: has announced the addition of a recent report, titled ‘Global Cakes And Pastries Market 2016-2020,’ to its online repository. According to the report, the global cakes and pastries market is anticipated to expand at a 3.76% CAGR during the period between 2016 and 2020 owing to the rising indulgence in cakes and pastries and increasing at-home consumption of these products.

Over the past few years, there have been several changes in the global cakes and pastries market. Long gone are the days when the bakery industry comprised of simple baked goods. Today, the global bakery industry comprises various products across numerous categories such as organic offerings and healthy products. The growing concerns about obesity and many other health issues have led to the growth of healthy eating habits. Manufacturers of cakes and pastries are focusing on adding healthy ingredients such as whole grains in their food products. Nowadays, they also label the products in detail, by clearly listing the ingredients. This makes it easy for consumers to make informed choices.

To target the calorie-conscious consumers, many vendors are aiming to minimize portion sizes. For instance, DuPont offers toffee-filled chocolate cakes with 50% fewer calories as compared to the standard ones. Also, Dawn Foods offer plenty of baked products including brownies, cookies, and cakes with fewer calories under the name Weight Watchers. Puraslim, a low-fat alternative to traditional margarine, oil, and butter, is increasingly being used in baking. Using puraslim reduces the quantity of fats in baked products.

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The global cakes and pastries market is segmented on the basis of geography and product. By geography, the global cakes and pastries market is divided into Asia Pacific, the Americas, MEA, and Europe. The global cakes and pastries market is spread across the globe with leading players covering different regions. Key vendors such as Groupo Bimbo, Flower Foods, Finsbury, Tyson Foods, Yamazaki Baking, McKee Foods, and Hostess Brands are expected to introduce many low-calorie cakes and pastries to fulfill the needs of health conscious people. Some other leading players operating in the global cakes and pastries market are Edwards, Edwards Cake & Candy Supplies, George Weston, Hillshire Brands, Hostess Brands, Mulino Bianco, Monginis, and Pepperidge Farm.

Going forward, the declining share of packaged cakes and pastries is expected to hamper the growth of the global cakes and pastries market. However, newer varieties of cakes and pastries by leading manufacturers are expected to create new growth opportunities in the global cakes and pastries market. By product, the global cakes and pastries market is classified into artisanal and in-store bakeries. The increasing urbanization, the rising demand for millennials, and the increasing innovations in the bakery market are expected to propel the global cakes and pastries market.

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