Cake Market - Size, Share & Outlook Growth | Forecast Upto 2032

Global Cake Market Overview

Cake Market Size Was Valued at USD 50.15 Billion in 2023 and is Projected to Reach USD 67.11 Billion by 2032, Growing at a CAGR of 3.29% From 2024-2032

The cake is a shape of candy meals crafted from flour, sugar, and different elements; this is commonly baked. In their oldest forms, desserts had been adjustments of bread, however desserts now cowl an extensive variety of arrangements that may be easy or elaborate, and that percentage functions with different cakes inclusive of pastries, meringues, custards, and pipes. The maximum usually used cake elements consist of flour, sugar, eggs, butter or oil or margarine, a liquid, and a leavening agent, inclusive of baking soda or baking powder. Common extra elements and flavorings consist of dried, candied, or sparkling fruit, nuts, cocoa, and extracts inclusive of vanilla, with several substitutions for the number one element. Cake also can be packed with fruit preserves, nuts, or dessert sauces (like pastry cream), iced with buttercream or different icings and adorned with marzipan, piped borders, or candied fruit.

The cake is regularly served as a celebratory dish on ceremonial occasions, inclusive of weddings, anniversaries, and birthdays. There are infinite cake recipes; a few are bread-like, a few are wealthy and elaborate, and plenty is centuries old. Cake making is not a complex procedure; even as at one time sizable exertions went into cake making (specifically the whisking of egg foams), baking gadgets and guidelines were simplified so that even the maximum novice of chefs may also bake a cake. Furthermore, growing utilization, switching preferences, and the emergence of small manufactures are among the changes transforming the organized cake industry. The increase in supermarket in-store bakeries is estimated to attract a significant number of consumers, further contributing to fueled market growth. Consumers are looking for value-based products and are attracted to artisanal bakeries with high-margin products.

Market Overview and Factors for the Cake Market:

Drivers:

With the growing disposable profits and expenditure energy, many of the purchasers coupled with growing have an impact on of western culture especially in Asia Pacific region, human beings have commenced spending extra money on bakery merchandise together with cakes and pastries for celebrating numerous activities together with birthday, anniversary, achievements and others, that's predicted to be the primary issue toward the boom of cake market over the forecast period. The bakery merchandise has lengthy been fundamental meals merchandise for human vitamins. The convenience, accessibility, and vitamins profile related to them are the primary elements in their sustenance withinside the current market. Increasing clever telecall smartphone and internet penetration were assisting human beings withinside the rural regions to get clean get right of entry to online purchasing on numerous e-commerce websites. Availability of clean cellular fee alternatives has resulted in growth with inside the variety of orders from tier 2 and tier three towns which permits human beings to get well-timed shipping at their doorstep. Another factor toward the boom of the cake market is the non-stop new product improvement and progressed distribution channel throughout the globe, which helps the huge availability and visibility of cake withinside the market.

Restraints:

Health problems in line with the increasing awareness for obesity, other associated diseases, and regulatory constraints concerning product labeling pose a threat to the global cake market. The rise in home bakers further decreases the demand for packaged cakes. Additionally, consumers are preferring healthier food products that have low carb, high protein, and fiber content, thus hindering the growth of the cake flour market during the projected period. Food perishability remains a key challenge for the cake industry.

Opportunities:

The Plant-Based Diet
Consumers are more and more transferring closer to plant-primarily based totally and flexitarian diets. The Flexitarian Diet is a fashion of consuming that usually specializes in plant-primarily based foods, however does permit animal merchandise in moderation. For the Bakery enterprise, this indicates now no longer the use of eggs, butter, and cream, but many customers demand plant-based products that don't compromise on taste. Therein lies the innovation for commercial bakeries, to create fine-tasting plant-based products, which in flip ought to make the transfer closer to a plant-based diet much easier. We are seeing a blaring in plant-primarily based totally cakes, biscuits, pastries and additionally fillings which includes chocolate.

Sugar Reduction
42% of consumers want to overcome the amount of sugar that they consume in their diet, as per the Ingredion. That is why reduced sugar claims are reaching traction in the market. Declining the amount of sugar in bakery fillings can potentially support industrial bakeries to tap into this rising global health and wellness trend. The introduction of bakery products with lower sugar claims has been rising over the last 4 years, primarily in South East Asia where low/reduced sugar claims have become more popular.  For instance, about 65% of APAC consumers agreed that Chocolate cookies with 'baddies' removed are the best cookies. Dove introduces 0 Sugar Belgian dark chocolate in China.

Market Segmentation

Based on the product type, the cupcakes segment is expected to dominate the cakes market over the forecast period. Cupcakes are still extensively more popular than any of these desserts. Even though they're all worthy contenders, none of them have led the cupcake yet, and it looks like they don't have a fighting chance either. Cupcakes are a treat that feels very affluent but can still be afforded. It's a little splurge like the customer's favorite beverage at Starbucks. It makes the day just a bit brighter and a lot tastier. Another trend that supported bringing cupcakes into the spotlight was the wedding cupcake cake. The weddings were the cake as a lot of cupcakes set on a beautiful, ranked catering plate.

Based on the form, the packages form segment is anticipated to hold the largest market revenue during the forecast period. Owing to the development of vegan packaged cakes and hygiene issues. For instance, India is a very diverse economy, with about 40% of its population being vegetarian, the launch of vegan cakes is anticipated to contribute a major chunk to the market growth. Frontier Biscuit Factory Pvt Ltd Is one of the popular organizations in the northern part of India, with a rich product portfolio in the vegan packaged cakes market.

Based on the distribution channel, the specialty stores segment is expected to hold the highest cakes market share over the forecast period. Different domestic players have their specialty stores with an extensive range of dessert cakes, artesian cakes, and sponge cakes. Additionally, cupcakes and other types of high shelf-life baked goods are highly available in the largest chain of supermarkets, such as Walmart, 7Eleven, Apar, Sainsbury's, Tesco, and Aldi. These deep-pocket industry participants are growing their product offerings to attract customers.

Players Covered in Cake market are :

• Monginis
• General Mills Inc.
• Finsbury Food Group Plc
• Britannia Industries Limited
• Modern Food Enterprises Pvt Ltd.
• Yamazaki Baking Co. Ltd.
• Mondelez International Inc.
• Elite Group of Companies.
• MCKEE FOODS
• Grupo Bimbo
• BreadTalk Group Limited
• Parle Products Pvt Ltd.
• Hostess Brands LLC.
• George Weston Limited
• Campbell Soup Company (Pepperidge Farm)
• Flower Foods
• Crazy Snacks Private Limited and other major players.

Regional Analysis for the Cake Market:

• Asia-Pacific is turning into a key marketplace, as growing disposable income, urbanization, and the call for western-fashion diets are assisting the increase in income of baked items and desserts. China is about to turn out to be the second-biggest baked items market globally via way of means of 2022, with desserts being one of the maximum famous segments. These markets are appealing to important corporates, which see the capacity for tremendous income increase. In nations together with India, as consumers' desire for nutritious and eye-attractive merchandise grow, manufacturers working withinside the desserts marketplace have similarly stepped forward merchandise' shelf-existence with no compromise on flavor and organoleptic properties, which has ultimately led cake producers to interchange from clean to frozen classes in nearly all of the bakery segments.
• Europe and North America region has significant growth rate for the cakes market during the forecast period. Various European countries such as Switzerland, the US, Canada, Belgium, France, Italy, and Austria are popular for their tasty bakery products, especially cakes. These economies have a large variety of cakes that are extensively utilized by the locals as well as tourists. A rising number of food tourists is also one of the major factors turning the cake industry in these regions.

Key Industry Developments in the Cake Market:

• In March 2024, McKee Foods launched two new Valentine’s Day-themed Little Debbie products Vanilla Mini Donuts and vanilla-flavored big-pack Valentine Cakes. Big Pack Valentine Cakes are individually wrapped snack cakes that come in cartons of six and are covered in light pink frosting and a white icing stripe pattern.
• In November 2023, Bimbo Bakeries USA, a subsidiary of Grupo Bimbo, introduced Entenman’s first baked donut cake. These are made with ‘‘real ingredients” and contain no artificial colors or high fructose corn syrup, making them an acceptable snack that can be enjoyed as a breakfast, midday, or evening snack.