Cakes and Pastries Market is Scaling New Heights With an Expected Market Valuation of Usd 22.4 Billion
#Millennials and #Generation Z?across the world are more inclined toward convenience foods. The rising demand for convenience foods, growing demand for #artisan-baked products, and increasing demand for #ready-to-eat products are driving the cakes and pastries market. The #cakes and #pastries market size is estimated to grow?at a?CAGR of 3.42% with an assessed valuation of USD?22.4 billion?between 2022 and 2027.?
Cakes and Pastries Market: Exploring the Market Drivers and the Market Trends?
When it comes to understanding the market drivers, consumers now want #wholesome, #personalized, and #naturalproducts without compromising health, taste, or ingredients.
As Millennials and Gen Z are more inclined towards ready-to-eat convenient foods, #baked goods, and confectioneries have become #readilyavailable on the street, and the need for #fuss-free convenient meals is served.
The rising demand for #sugarfree bakery products?is a prime #trend influencing?the?cakes and pastries market growth also, the growing consumer interest in different #flavors coupled with rising #consumption of homemade baked goods and #mindfulness of health and fitness concerns will catalyze the #growthopportunities?for the?global cakes and pastries market.
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Fastest-growing Geography and Vendor Insights
As per our market, research #Europe?is estimated to?contribute?41%?to the growth of the #globalcakesandpastriesmarket. The market dominates the food industry in this region due?to innovation, packaging, new flavors, #newtechnology,?and consumer?#healthconsciousness.?The growing market is dominated by consumers who are increasingly turning to a healthier lifestyle. As a result, cake and pastry recipes are placing greater demands on healthy, natural ingredients such as #naturallyoccurring sugars, #nuts, #wholegrains, fruits, and #seeds.?
The #UnitedStates, #Mexico, and #Canada also count as the most important markets for cakes and pastries apart from Europe.
?Vendors are implementing various strategies, to make their market presence felt in the market landscape, some of the prominent market players are segmented into pure play, category-focused, industry-focused, and diversified worth mentioning are Dofreeze LLC , EDWARDS CAKE AND CANDY , EUROPASTRY SA , Flowers Foods & Subsidiaries , Hostess Brands
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