Asia Pacific Pastries Market was worth USD 5.23 billion in 2021 and estimated to be growing at a CAGR of 4.1%, to reach USD 6.4 billion by 2026.
Pastry is a dough of flour, water, and shortening that may be savoury or sweetened. Sweetened pastries are often described as bakers' confectionery. The word "pastries" suggests many kinds of baked products made from ingredients such as flour, sugar, milk, butter, shortening, baking powder, and eggs.
Pastry is differentiated from bread by having a higher fat content, which contributes to a flaky or crumbly texture. A good pastry is light and airy and fatty, but firm enough to support the weight of the filling.
Drivers and Restraints:
The growth of the Asia Pacific Pastries Market is mainly driven by the rising demand, increase in urbanization leading to the higher availability of bakeries. However, health concerns are a major factor restraining market growth. Therefore, to attract the health conscious populace, the vendors introduced healthier varieties with lesser fat content. Also, the rapid growth in home baking also acts as a restraint on market growth as it reduces the demand for packaged pastries.
Asia Pacific Pastries Market Segmentation Analysis:
The Asia Pacific Pastries market is segmented on the basis of taste, sales and by distribution channels. On the basis of taste, the market is segmented into sweet and savoury. On the basis of sales, the market is further categorized into packaged pastries and artisanal and in-store bakeries. On the basis of the distribution channel, the market is distributed among online sales, supermarkets/hypermarkets, convenience stores and others.
The Asia Pacific region is geographically segmented into China, India, Japan, South Korea, and Australia. Asia Pacific is predicted to grow at the highest CAGR during the forecast period. Factors such as growing consumption coupled with the rapid growth in distribution channels are anticipated to lead the growth of the market in this region.
Key Players in the Market:
Major key players in the Asia Pacific Pastries Market are
The major players operating in the Asia Pacific Pastries Market include American Baking Company, Aryzta, BreadTalk, Britannia, Edeka, Edwards, Edwards Cake & Candy Supplies, Finsbury, FlowerFoods, George Weston, Groupo Bimbo, Hillshire Brands, Hostess Brands, McKee Foods,Monginis, Mulino bianco, Pepperidge Farm, Tyson Foods, Yamazaki Baking.
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