Cake Model Market was valued at USD 70.1 billion in 2023 and is expected to reach USD 83.4 billion by 2028 to grow at 3.53% CAGR
Cake is a flour confection that is typically baked and is created with flour, sugar, eggs, fat (such as butter, oil, or margarine) and other ingredients. In their earliest origins, cakes were bread modifications, but they now refer to a wide variety of dishes that can be simple or elaborate and have features in common with sweets like pies, pastries, meringues, custards, and custard creams. Cakes can also be filled with fruit preserves, nuts, or dessert sauces (like custard, jelly, cooked fruit, whipped cream, or syrups), iced with buttercream or other icings, and decorated with marzipan, piped borders, or candied fruit.On ceremonial events like weddings, anniversaries, and birthdays, cake is frequently offered as a celebration food. There are innumerable cake recipes, many of which are years old. Some of them resemble bread, while others are lavish and elaborate. Cake baking is no longer a difficult process; while there used to be a lot of labor involved (especially in the whisking of egg foams), baking equipment and instructions have been made simpler so that even the inexperienced bakers can bake the cake. Also, there are various cake mixes available now which can be prepared with eggs or egg replacers for easy, hassle free, time saving and convenient usage to customers, food service operators and industrial scale bakeries.
REPORT COVERAGE:
REPORT METRIC |
DETAILS |
Market Size Available |
2022–2028 |
Base Year |
2022 |
Forecast Period |
2023-2028 |
CAGR |
3.54% |
Segments Covered |
By Type, By Mixing Methods, By Sales, and By Region |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
American Baking Company, Aryzta, BreadTalk, Britannia, Edwards Cake & Candy Supplies, Flower Foods, George Weston, Groupo Bimbo, Hillshire Brands, Hostess Brands, McKee Foods, Monginis, Mulino Bianco, Pepperidge Farm, Tyson Food, Yamazaki Baking |
The increasing demand for cakes, cupcakes, and high-end confectionary is driving the growth of the Cake Model market worldwide. The growing popularity of celebrating various special occasions like birthdays, success parties, weddings, etc. by cutting cakes is the key factor fueling the demand for cakes in the market. Moreover, cakes are a perfect dessert and can be savored after the main course. The increasing consumer preferences toward healthy and nutritious food have increased the demand for healthy cakes that offer nutritional benefits. The manufacturers are introducing innovative cakes by adopting healthier ingredients like almond flour, wheat flour, oats flour, etc. Such innovative and new product launches have enabled to meet the demand of the consumers thereby expanding the market growth.
According to the International Diabetes Federation, about 537 million adults (ages 20-79) will have diabetes in 2021. The total number of diabetics is expected to increase to 634 million by 2030. Therefore, this limited the consumption of fat and high-calorie foods, thereby limiting the cake market to some extent.
In April 2022, Bread Talk, launched a new and gorgeous cake for Mother’s Day. These come in two flavors: the yam-flavored Eternal Love and the Rose and berry-flavored Enduring Love.
In 2021, McKee Foods Corp. expanded its business with the launch of Little Debbie Strawberry Shortcake Mini Muffins on consumer demand by line-up its mini muffin cake item.
By Product Type
Dessert Cakes
Cupcakes
Cheesecakes
Sponge Cakes
Other Cakes
The dessert cake is expected to grow significantly due to its huge consumption on special occasions like birthday, wedding, success, etc. The dessert cakes are often served with lashing cream, fruits, fondants, fruit syrups, frostings, and chocolate to enhance its appearance, flavor, and taste. This feature drives the growth of the Cake model market.
By Distribution Channel
Supermarkets/Hypermarkets
Bakery
Specialist Retailers
Convenience Stores
Other Distribution Channels
Due to rising number of in-store bakeries providing fresh and high-quality cakes in the supermarkets and hypermarkets are boosting the cake model market growth. As the specialty stores offer a variety of artisanal, dessert and sponge cakes it is expected to fuel this segment growth. The specialty Bakery stores offer customizable cakes as per the demand of the customers. This boosts the growth of the bakery stores.
North America
Europe
Asia-Pacific
South America
Middle East
Africa
Europe is expected to account for the largest share in the market due to high presence of the bakery industry in the region. Consumer preferences toward healthy and nutritious food have influenced several developments and innovations in the cakes without changing their tastes and texture. This is driving the sales of the products thereby driving the regional market growth. Moreover, regions such as U.K. and Italy are popular for their artisanal bakery products, especially cakes have also aided in the market growth in Europe.
American Baking Company
Bread Talk
Britannia Industries
Euro Cakes
McKee Foods
Edwards Cake & Candy supplies
Flower foods
George Weston
Grupo Bimbo
Monginis
General Mills Inc.
CSM Bakery Solutions
Rich Products Corporation
Finsbury Food Group Plc.
Mondelez International Inc.
Hostess Brands
Hillshire Brands
Mulino Bianco
Pepperridge Firm
Tyson Food
Yamazaki Baking
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