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Rising demand for ready-to-eat (RTE) and packaged goods is likely to fuel innovation in cake and pastry manufacturing, propelling the market over the forecast period.

The global cake and pastries market is expected to grow from $85.26 billion in 2022 to $92.44 billion in 2023 at a compound annual growth rate (CAGR) of 8.4%. The global cake and pastries market size is expected to reach $122.68 billion in 2027 at a CAGR of 7.3%.

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Global Cake And Pastries Market Segments Include:

• By Type: Cakes, Frozen Cakes And Pastries, Pastries, Sweet Pies
• By Distribution Channel: Super Markets And Hyper Markets, Convenience Stores, Online Retail, Bakeries, Other Distribution Channels
• By Application: Food Service, Retail, Other Applications
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global cake and pastries market in 2021.

Major Market Players in the cake and pastries market include Finsbury Food Group Plc, Flowers Foods, Grupo Bimbo, S.A.B. de C.V, Hostess Brands, McKee Foods Corporation, Yamazaki Baking Company Ltd., Aryzta AG, BreadTalk Group Private Limited.

Product innovation is a crucial trend that is gaining traction in the cakes and pastries market. To increase their market position, major players in the cakes and pastries sector are focusing on introducing unique products. Entenmann’s, a US-based manufacturer of baked goods, for example, debuted Entenmann’s Cake Truffles in October 2022. Entenmann’s Cookies & Crème Cake Truffles are packed with creamy white chocolate pieces and enrobed in a layer of silky, smooth chocolate coating. Entenmann’s Chocolate Delight Cake Truffles have a layer of silky, smooth chocolate coating on top. These very decadent flavours are sure to satisfy all chocolate fans.

The Cake And Pastries Global Market Report 2023  provides a cake and pastries market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The cake and pastries market forecast analyzes cake and pastries market size, cake and pastries market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Cake is a baked sweet dish that is similar to bread and is typically made with flour, sugar, baking soda or powder, eggs, and liquid flavouring. Pastries are created with a solid dough of flour, salt, a significant amount of fat, and a little amount of liquid.

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