Cake Market Will Estimates to Surpass USD 59.84 Billion, Expanding at a CAGR 3.3% by 2030 | Reports and Data

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.

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Key Players covered in this report are: Mondelēz International, Grupo Bimbo, McKee Foods, Yamazaki Baking CO., Ltd., BreadTalk Group Pte Ltd., Hostess Brands, Inc., Finsbury Food Group Plc, George Weston Foods Limited, Campbell Soup Company, and Britannia Industries.

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.

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

Key Regional Markets Covered in the Report:

• North America (U.S., Canada, Mexico)
• Europe (U.K., Italy, Germany, Spain, France, BENELUX, Rest of Europe)
• Asia Pacific (India, Japan, China, South Korea, Australia, Rest of Asia Pacific)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• The Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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Major Points covered in this report are as below:

• The Cake industry development trends and marketing channels are analyzed. The feasibility of new investment projects are assessed and overall research conclusions offered.

• With the tables and figures, the report provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.

• Development policies and plans, manufacturing processes and cost structures are also analyzed. This report also states import/export consumption, supply and demand figures, cost, price, revenue and gross margins.

• The Cake Market report provides key statistics on the market status of the Cake manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.

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