Cake Market Analysis, Revenue Share, Company Profiles, Launches, & Forecast till 2030

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Increasing consumption of cake on various special occasions along with the rise in consumption of cakes as a post-meal dessert

The global cake market size was USD 44.91 Billion in 2021 and is expected to register a revenue CAGR of 3.3% over the forecast period, according to the latest report by Reports and Data. Increasing consumption of cake on various special occasions along with the rise in consumption of cakes as a post-meal dessert is a primary factor driving the cake market revenue growth. Online cake ordering is becoming more and more common among people across the globe. Cake cutting is a need for every form of celebration and is the most essential part of the event. Growing preference for online stores owing to the availability of a wide range of choices in cake flavors and varieties offered. Since it allows customers to buy cakes for all events while saving time and money, customers prefer online cake delivery. Using materials like flour, sugar, and other sweeteners, cake is a baked sweet snack. Cakes come in a variety of forms and share ingredients with other sweets like pastries, meringues, custards, and pies.

Rising social media culture, as well as the capacity of various bakery and confectionery enterprises to present their myriad dessert delicacies in a variety of styles on such platforms, led to an increase in sales. Furthermore, one of the key factors driving the growth of the cake market is the availability of customized cakes based on the occasion. According to a study, more than half of Americans sample the newly launched restaurant as a consequence of the establishment's social media advertising post.

Custom cakes stand out because of personalization which is a much-preferred choice of the customer as a customized cake shows that the recipient is respected and loved. As a result, they become even more distinctive and in demand. The availability of various flavored cakes such as strawberry, blueberry, chocolate, and others in addition to eggless cakes provides consumers a wide range of choices and is the primary factor driving market revenue growth. However, cakes tend to have a hefty calorie count which leads to various health issues and an intake of extra sweets may lead to cavities as well which are some factors expected to provide some restraint to revenue growth of the market.

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Companies profiled in the market report include Finsbury Food Group Plc, Yamazaki Baking Co., Ltd, McKee Foods, Grupo Bimbo, BreadTalk Group Limited, Hostess Brands, LLC, Monginis, George Weston Limited, Campbell Soup Company, and Britannia Industries Limited.

Some Key Highlights from the Report

  • The dessert cake segment accounted for a major revenue share in 2021. Bakeries are in great demand for dessert cakes, particularly cupcakes, because these miniature delights are extremely profitable. Cupcakes are incredibly popular because they provide clients with the variety they expect from a bakery, have high-profit margins, and are customizable and simple to make. Caterers and party planners may struggle to please a huge group of individuals with a single cake. As a result, bakers commonly produce side-by-side cakes, which mix two complementary flavors into a single, large cake.
  • The specialist retailers segment accounted for a significant revenue share in 2021. Major domestic brands have specialty stores that offer a wide range of dessert cakes, customized cakes, and sponge cakes in various flavors. Freedom of selection, reasonable prices, and a one-stop destination for a variety of products, which helps in differentiation are the primary reasons enabling more sales through this channel.
  • The chocolate segment accounted for a major revenue share in 2021. Chocolate ingredients are in high demand, even throughout the festival and pandemic seasons. Chocolate is highly in demand than all the other flavors of cakes. According to research, the demand for chocolate cake is 35.71% followed by vanilla at 11.99%, cheesecake at 2.08%, and others.
  • Market in Asia Pacific is expected to register a steady revenue growth rate over the forecast period. China, Japan, and India are among the leading consumers of cake in the region. According to research, India imported the highest dollar worth of cake from Indonesia with shipments in 2020-2021 (April-November) valued at USD 19.91 Million followed by Philippines from which India imported around USD 17.05 Million. Export of cake to India is worth USD 73.82 Million in 2020-2021 (April-November). Countries which exports cake to India are Indonesia, Philippines, Nepal, Ukraine, and these fulfill almost 85.55% of the cake demand in India. Hence, it is driving the revenue growth of the market in this region.
  • On 21 June 2019, Bakery food company Britannia Industries announced that they want to capitalize on prospects in the cake category through the introduction of creative goods at various price points and expansion in rural regions.

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For the purpose of this report, Reports and Data has segmented the global cake market based on product type, distribution channel, flavor, and region:

Product Type Outlook (Revenue, USD Billion; 2019-2030)

  • Sponge cake
  • Dessert cake
  • Cheesecake
  • Others

Distribution channel Outlook (Revenue, USD Billion; 2019-2030)

  • Super Markets hyper Markets
  • Convenience stores
  • Specialist retailers
  • Others

Flavor Outlook (Revenue, USD Billion; 2019-2030)

  • Chocolate
  • Vanilla
  • Cheese
  • Others

Regional Outlook (Revenue, USD Billion; 2019-2030)

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Sweden
    • BENELUX
    • Rest of Europe
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East Africa
    • Saudi Arabia
    • UAE
    • South Africa
    • Israel
    • Rest of MEA

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Key Questions Addressed in the Report:

  • What are the dominating factors that are influencing the growth of the industry?
  • In the forecast period, which market segment is expected to rise the most?
  • What are the risks and challenges that the industry is facing?
  • In the coming years, which area is projected to dominate the market?
  • Who are the major players in the market? What kind of strategic business plans have they made?

Thank you for taking the time to read our article. The report can be tailored to the needs of the client. Please contact us for more details, and our team will tailor the report to your specific requirements.

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