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The article cited AMA's "Global Cakes and Pastries Market Study" explored CAGR of 20.3%. According to the report, Growing utilization of cakes and pastries in the different festivals is one of the primary growth factors for the market. High demand for decadent food products is also expected to contribute significantly to the Cakes and Pastries market. Overall, Food Service applications of Cakes and Pastries, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. The By Distribution Channels, such as Convenience Stores, is boosting the Cakes and Pastries market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.

New technologies and major shifts in the industry will be game-changing factors that all players have to react now in order to maintain strong positions in the future. As many industry experts agree that significant changes are ahead. AMA’s Analyst on the Global Cakes and Pastries market identified that the demand is rising in many different parts of the world as "Rising demand for convenience food in emerging countries ". Furthermore, some recent industry insights like "On 4 March 2021, the UK’s leading specialty baker, Finsbury Food Group, has partnered with BOSH, the British vegan duo, to launch a brand-new vegan traybake to be sold in Costa Coffee stores nationwide. This new collaboration will be the first time that Finsbury and BOSH have partnered with a coffee shop. Finsbury and BOSH have created the indulgent BOSH Ultimate Slice; a chocolate tiffin base, with a chocolate topping and finished with fudge and cookie pieces." which is constantly making the industry very dynamic.

The report provides an in-depth analysis and forecast about the industry covering the following key features:
o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies
o Analyses the Global Cakes and Pastries market according to Type, Application, and regions
o Analyzes the top 10 players in terms of market reach, business strategy, and business focus
o Provides stakeholders’ insights and key drivers & trends of the market

**The market is valued based on weighted average selling price (WASP) and includes any applicable taxes on manufacturers. All currency conversions used in the creation of this report have been calculated using constant annual average 2023 currency rates.

Market Size Estimation
In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Cakes and Pastries market and other related sub-markets covered in the study.

o Key & emerging players in the market have been observed through secondary research.
o The industry’s supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes.
o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation
The overall Cakes and Pastries market size is calculated using market estimation process, the Cakes and Pastries market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Cakes and Pastries market size has been validated using both top-down and bottom-up approaches.