“Cakes, Pastries, And Sweet Pies Market Size, Share – Growth, Trends, And Forecast (2018 – 2023)”: Is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data which enhances the understanding, scope and application of this report.
The China cakes, pastries, and sweet pies market is expected to reach USD 30.2 billion by 2023 and is expected to register a CAGR of 9.2%, during 2018-2023.
Major Companies Include are:
Fujian Dali Food Co Ltd, Orion Group, Nestl Sa, Grupo Bimbo Amongst Others.
China cakes, pastries & sweet pies volume sale crossed 2,858 million Kg in 2017, registering a healthy growth rate during the forecast period.
Market is mainly driven by changing lifestyle and increased consumer taste for premium baked goods. Pastries & Sweet Pies is the largest segment, which is growing at a faster rate. Consumer interest for healthy eating is the primary restraint for the market. Competition from other baked goods, such as breakfast cereals, expanding food service sandwich chain are affecting the market growth.
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Western Style Pastries: The Key Trend
Increased prevalence of western lifestyle and rising income has triggered the baked good sale in the region. China is expected to be the largest market for cakes and pastries globally during the forecasted period. China bakery and cereal market are expected to reach USD 47 billion by 2022. Despite the demand for the functional bakery, which is dominant in developed countries, Chinese prefers to buy something special. Cakes, pastries and sweet pies hold around 44% of China total bakery and cereal market. High young population demanding western style baked goods and convenience are driving the market growth. Mooncakes round pastries, which are generally eaten during occasions, are growing in demand.
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Expanding Distribution Channel Boosting Sales
Rising expansion in the number of bakeries, convenience stores, supermarkets, and hypermarkets are accelerating market growth. Artesian retail pastries are pushing their packaged cakes sales for wider distribution in tier II cities and tier III cities for expansion. Product and packaging innovation available in different flavors, offered by artesian bakers is continuing to drive pastries consumption. Many large players are shifting their distribution from modern grocery retails to traditional retail channel in rural and tier II cities to cater consumer demand.
Key Developments in the Cakes, Pastries, And Sweet Pies Market: –
January 2018 – Nestl SA opened its taste workshop under its Hsu Fu Chi brand in Dongguan city, China, inspired from its popular chocolate brand Kitkat. This shop main focus is on health & wellness packaged food products.
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Reasons to Buy Cakes, Pastries, And Sweet Pies Market Report: –
– Analyzing outlook of the market with the recent trends and Porters five forces analysis
– Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
– Market segmentation analysis, including qualitative & quantitative research incorporating the impact of economic & non-economic aspects
– Regional and Country level analysis integrating the demand and supply forces that are influencing the growth of the market
– Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
– 3-month analyst support, along with the Market Estimate sheet (in excel).
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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