Pastries Market

Pastries Market Size, Growth, Forecast (2023-2028)

The global Pastries Market size is estimated to expand with a CAGR of about 3.44% during the assessment period. As custom cakes become more popular and product innovations increase, it is expected to drive market growth during the forecast period.

Market Overview:

Pastries are the most important product in the confectionery industry. They a type of baked sweet dessert with ingredients like flour, sugar, eggs, butter/oil, baking soda or yeast or powder. The patisserie is a celebration for events like weddings, anniversaries, and birthday celebrations. The cakes can be delicious or sweetened with flour, water and shortening dough. There are different kinds of pastries in the market that are made of natural elements like wheat flour and useful fats. The use of specialty ingredients such as whole-grain breads, concentrates, and confectionery mixes in pastries has seen great strides as part of the overall demand for healthy ingredients, calorie-free indulgence, and high demand for mobile food. Sweet indulgences, such as cupcakes and sliced cakes, are purchased based on appearance, texture, mouthfeel, and other subjective characteristics, and a focus on healthy ingredients takes second priority.

Recent Developments in Pastries Industry:

• Bimbo Bakeries launched an Iberia minion themed cake, produced under license from Universal Pictures and Illumination Entertainment.

Pastries Market Growth:

The demand for pastry is driven by indulgence and flavor innovation, and the economy remains a major concern, especially in the emerging worlds.

REPORT COVERAGE:

Drivers:

The main factors driving the growth of the global pastries market during the forecast period are urbanization, the greatest demand of the millennium generation, the increasing indulgence of cakes and pastries, innovation in the bakery industry and consumer preference for food. The dough is sweet, salty flour, water and oily dough. Empanadas are often fried or baked and used as a crust for pies and tarts. Puff pastries, short cuts and choux are the most common types of cakes available on the market. Also, an increase in disposable income affects the level of purchasing power worldwide and affects the market for pastries. Additionally, the rise of western-style bakeries in the Asia Pacific region may increase demand for cakes and pies during the forecast period. The deepening of urbanization and the growing demand for declining food are key factors driving the market growth. With more people interested in food experiments, the pastry market has seen many innovations, especially in flavor and topping. Therefore, the popularity of custom cakes that can drive the growth of this market for a predictable period is growing. In addition, the increase in the quantity of ready-to-eat foods, such as cakes, pies, and cakes, increased due to the increase in the workforce and the increase in disposable income, which further increased sales. As concerns about obesity and related health problems grow, healthy eating is expected to lead the bakery market worldwide.

Manufacturers incorporate healthy ingredients like whole grains in their products. It also labels products and clearly lists all ingredients, allowing consumers to make informed decisions. Furthermore, with the increasing demand for pastries and made-to-order cakes, ongoing experiments to introduce the unique aroma of peeling and toppings have been widely accepted. Consumers around the world are turning to bakery products that provide functional benefits and are suitable for the specific dietary needs of the consumer, such as wheat gluten, kosher, organic and natural ingredients, and the use of wheat flour other than wheat and rice and chia powder-based flour. Additionally, consumers look for foods that provide instant nutrition, and by paying more for these products, they enable significant innovation in each product category. Therefore, the growing demand for freshly baked cakes along with online sales and the launch of new products can be seen as an opportunity in this market. Besides, as health awareness increased among consumers, alternatives to healthier ingredients such as whole wheat flour instead of white flour were introduced. Along with this, the growing demand for low sodium, gluten-free, multi-grain and organic baked goods is also driving the market growth. Government subsidies limit the growth of the value of bread in the Middle East and Latin America. Its removal or expected removal requires consumers to switch to higher value-added package formats.

Restraints:

Healthy diet trends, obesity and growing concerns about health-related issues are key drivers of growth in the global pastries market during the calculated period. The increasing trend in household consumption may hinder the growth of the pastries market worldwide.

Pastries Market Segmentation Analysis:

By Taste:

• Sweet      
• Savory   

By Sales:

• Packaged Pastries
• Artisanal and In-store Bakeries     

By Distribution Channel:

• Online Sales           
• Supermarkets/Hypermarkets        
• Convenience Stores           
• Others     

Geographical Segmentation Analysis:

• North America - the United States and Canada
• Europe - United Kingdom, Spain, Germany, Italy, and France
• The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
• Latin America  - Brazil, Argentina, Mexico, and Rest of LATAM
• The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

Regional Analysis:

Following the North American market, Europe now dominates the global pastries market in terms of revenue, as demand for prepared food has increased and consumer testing has changed during the forecast period. In Europe, especially in the United Kingdom, cakes, pastries and sweets have dominated the market in recent years with increasing product launches. The Asia Pacific is a crucial market in the international marketplace as the call for disposable income, urbanization, and Western diets boost growth, especially in the sales of baked products. China will be the second-largest bakery market in the world by 2022, and cakes are one of the most popular. This market is attractive to major companies and sees the potential for significant sales growth. Emerging economies in the Asia-Pacific region, such as India and China, are expected to offer many opportunities to increase the consumption of cakes and pies due to the region's large population. In addition, the growth in consumer disposable income is making it possible to supply expensive food products, which is accelerating the growth of the global pastry market. Pastries consumption in developed regions is based on specific factors such as brand competition, convenience, and health attributes. The demand for decorated pastry segments is increasing. This change in consumers is due to increased disposable income and a preference for innovative products. Converting consumer preferences into frozen pastry products, especially viennaiserie products, is one of the key factors contributing to the growth of the global frozen pastry market. In the MEA region, the increase in disposable income of the population is expected to improve living standards, allowing consumers to spend on premium food, such as Viennoiserie products, which is expected to increase market demand for pastries in the area.

Impact of Covid-19 on the Global Pastries Market:

The Covid-19 pandemic has changed the food patterns of consumers across the globe, resulting in the increased intake of healthy and nutritious products. This is touted to negatively impact the global pastries market as they are a rich source of carbohydrates and trans-saturated fats. However, with the manufacturers introducing healthy components, there is a high chance for business growth in the coming years.

Key Players in the Market:

Major Key Players in the Global Pastries Market are

• 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