At a CAGR of 4.4%, Cakes and Pastries Market to Reach A Vlue of US$ 170.2 Billion by 2027

SHERIDAN, UNITED STATES, November 15, 2022 /EINPresswire.com/ -- According to the latest report by IMARC Group, titled "Cakes and Pastries Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global cakes and pastries market reached a value of US$ 130.7 Billion in 2021. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 170.2 Billion by 2027, growing at a CAGR of 4.4% during 2022-2027.

Cakes and pastries are one of the most popular products, which are baked using flour, sugar, eggs, margarine, baking soda, and baking powder. The cakes have a unique texture, which makes them customizable as per the consumer preference. They are largely used on ceremonial occasions, such as weddings, birthdays and anniversaries and are available in different sizes and shapes. Moreover, pastries are often baked or fried and are used as a crust for tarts and pies. Shortcuts, puff, and choux are some of the types of pastries available in the market.

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Market Trends:

The cakes and pastries market is primarily driven by the rising demand for customized pastries and cakes and inflating consumer expenditure power. The high demand for decadent foods and rising working populace have facilitated the demand for ready-to-eat food products, such as pastries, cakes, and pies. Moreover, the rising consumer health consciousness has prompted the key players to introduce healthy product variants, such as whole wheat, multigrain, organic, and gluten-free, which is creating a positive outlook for the market.    

Key Market Segmentation:

Competitive Landscape:

Finsbury
Flowers Foods
Grupo Bimbo
American Baking Company
Britannia
Euro Cakes
Hostess Brands
McKee Foods
Yamazaki Baking
Aryzta
Mulino Bianco
Edeka
Edwards Cake & Candy Supplies
BreadTalk Group Limited.

Based On Product:

Artisanal Bakery Products 
In-store Bakery Products

Based On Type:

Cakes
Frozen Cakes & Pastries
Pastries
Sweet Pies

Based On Sector:

Food Service
Retail

Based On Distribution Channel:

Super Markets and Hyper Markets
Convenience Stores
Specialist Retailers
Artisanal Bakeries
Online Stores
Others

Breakup by Region:

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Based On Country

Italy
Germany
United States
France
Ireland
United Kingdom
Netherlands
Australia
China
Brazil
Argentina
Mexico
Saudi Arabia
Africa Region
Japan

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Key highlights of the report:

Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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