Cakes Market Size, Share, Industry Trends and Forecast to 2033
This report provides a comprehensive analysis of the Cakes market, including insights into market size, growth trends, segmentation, and regional analysis. The forecast period covered is from 2023 to 2033.
| Metric | Value |
|---|---|
| Study Period | 2023 - 2033 |
| 2023 Market Size | $18.00 Billion |
| CAGR (2023-2033) | 7.2% |
| 2033 Market Size | $36.79 Billion |
| Top Companies | Mondelēz International, General Mills, Unilever, Kraft Heinz, Pinnacle Foods |
| Last Modified Date | 15 November 2024 |
Cakes Market Overview
What is the Market Size & CAGR of Cakes market in 2023?
Cakes Industry Analysis
Cakes Market Segmentation and Scope
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Cakes Market Analysis Report by Region
Europe Cakes Market Report:
The European Cakes market is set to grow from $6.41 billion in 2023 to $13.11 billion by 2033, driven by an increase in bakery innovation and the popularity of cake-based desserts within culinary industries.Asia Pacific Cakes Market Report:
In the Asia Pacific region, the Cakes market is projected to grow from $3.29 billion in 2023 to $6.73 billion by 2033, reflecting an increasing trend of western-style bakeries and the influence of social media on cake designs and flavors.North America Cakes Market Report:
North America led the Cakes market with a size of $5.82 billion in 2023, projected to reach $11.90 billion by 2033, fueled by high demand for specialty cakes and online shopping convenience.South America Cakes Market Report:
The South American Cakes market is expected to grow from $0.21 billion in 2023 to $0.43 billion by 2033. Factors such as the rise in disposable income and changing dietary trends play essential roles in this growth.Middle East & Africa Cakes Market Report:
The Middle East and Africa market is anticipated to grow from $2.27 billion in 2023 to $4.64 billion by 2033, supported by rising expatriate populations seeking diverse confectionery options.Request a custom research report for industry.
Cakes Market Analysis By Type
Global Cakes Market, By Type Market Analysis (2024 - 2033)
The Cakes Market reveals significant distinctions by type. Traditional Cakes dominate with a market share of 67.48% in 2023, expanding from $12.15 billion to $24.83 billion by 2033. Premium Cakes hold a 25.13% share, expected to grow from $4.52 billion in 2023 to $9.25 billion in 2033. While savory cakes represent a smaller segment at 7.39% extending from $1.33 billion to $2.72 billion in the same period.
Cakes Market Analysis By Distribution Channel
Global Cakes Market, By Distribution Channel Market Analysis (2024 - 2033)
In terms of distribution channels, offline retail holds a substantial share of 86.38% in 2023, valued at $15.55 billion, projected to almost double to $31.78 billion by 2033. Online retail, while smaller, shows promising growth, expanding from $2.45 billion in 2023 to $5.01 billion in 2033, reflecting the shift towards e-commerce platforms.
Cakes Market Analysis By Occasion
Global Cakes Market, By Occasion Market Analysis (2024 - 2033)
Analysis by occasion reveals that cakes for birthdays dominate the market with a 53.94% share in 2023, valued at $9.71 billion and anticipated to reach $19.85 billion by 2033. Wedding cakes follow at 23.91%, expanding from $4.30 billion to $8.80 billion. Cakes for celebrations and other occasions also contribute significantly, reflecting changing social trends.
Cakes Market Analysis By Ingredient
Global Cakes Market, By Ingredient Market Analysis (2024 - 2033)
By ingredients, flour-based cakes account for the major share of 67.48%, forecasting a growth from $12.15 billion to $24.83 billion. Non-flour-based cakes, while a smaller segment at 25.13%, grow from $4.52 billion to $9.25 billion. Organic ingredient cakes, though limited at 7.39%, are projected to expand from $1.33 billion to $2.72 billion as consumer trends evolve.
Cakes Market Trends and Future Forecast
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Global Market Leaders and Top Companies in Cakes Industry
Mondelēz International:
A multinational confectionery, food, and beverage company known for its cake products under brands such as Cadbury and Oreo.General Mills:
An American multinational manufacturer and marketer of branded consumer foods, including various cake mixes and ready-to-eat cheesecake products.Unilever:
Leading provider of food and beverage products with diverse cakes offerings across various markets, known for its innovative marketing strategies.Kraft Heinz:
One of the largest food companies globally, featuring a significant portfolio of baked goods, including cakes and dessert products.Pinnacle Foods:
Specializes in frozen and prepared foods, including a wide range of cake products, focusing on quality and convenience.We're grateful to work with incredible clients.
Related Industries
FAQs
What is the market size of cakes?
The global cake market is valued at approximately $18 billion in 2023, with a projected CAGR of 7.2%, indicating robust growth expected through 2033.
What are the key market players or companies in the cakes industry?
Key players in the cakes market include established brands and manufacturers focused on innovative cake offerings, catering to both traditional and premium segments.
What are the primary factors driving the growth in the cake industry?
The growth in the cake industry is driven by increasing consumer demand for diverse flavors, premium products, and the rise of online retailing and festive celebrations.
Which region is the fastest Growing in the cakes market?
The fastest-growing region in the cake market is Europe, projected to expand from $6.41 billion in 2023 to $13.11 billion by 2033.
Does ConsaInsights provide customized market report data for the cakes industry?
Yes, ConsaInsights offers customized market report data tailored to specific needs within the cakes industry, addressing unique business requirements and insights.
What deliverables can I expect from this cakes market research project?
Deliverables include comprehensive market analysis, segmentation data, trends report, and forecasts, delivering insights into market dynamics over the forecast period.
What are the market trends of cakes?
Current trends in the cakes market include a rise in premium offerings, increasing demand for organic ingredients, and a shift towards online purchasing channels.