Cakes Market Scope
The cake is a kind of food which is generally used and known all over the world in the form of Sweet Desserts. Cakes is basically a modern modification of bread, typically in olden days bread is used in place of cake. The market of the cake is growing tremendously in the last few years due to rising celebrations activity and the product offerings are also at the innovative level, as there are rising preferences of the customizable cake. But there are some factors due to which the market is hindering such as there is an increase in the home bakers and some of the regulatory factors related to the product labelings which is lowering the market
According to AMA, the Global Cakes market is expected to see growth rate of 3.3% and may see market size of USD75.0 Billion by 2026.
Kraft Foods (United States), Nestle (Switzerland), Danone Group (France), Britannia Industries (India), Lotus Bakeries (Belgium), Mondelez International (United States), ITC Limited (India), Campbell Soup Company (United States), The Kellogg Company (United States), Dali Food Group (China), United Biscuits Company (United Kingdom), Kambly (Switzerland), Walkers Shortbread (United Kingdom) and The Hershey Company (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are American Baking Company (Netherlands), Aryzta (Swirtzerland), Brutons Biscuit Company (United Kingdom), Ulker Biskuvi Sanayi (Turkey) and Cornu AG (Switzerland).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Cakes market by Type (Sponge cake, Cup Cake and Dessert Cake), by Application (Celebration, Eatable desert and Others) and Region with country level break-up.
On the basis of geography, the market of Cakes has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
Café Valley is partnering with the Hershey Company to introduce a decadently delicious snack size coffee cake bite that is equal parts brownie and cheesecake, with a sprinkle of chocolate. The coffee cake bites is made with Hershey's chocolate, and is of cocoa flavor
Kraft Heinz signs definitive agreement to acquire primal kitchen
Market Trend
- New product launches
- Expanding global vegan population base
- Emergence of private label brands
Market Drivers
- Growth in innovation of product offerings
- Increasing popularity of customizable cakes
Opportunities
- Demand for innovative products
- Increasing demand for freshly baked cakes
- Increasing online sales of cakes
Restraints
- High presence of unorganised players
- Increasing health concerns
Challenges
- Regulatory constraints pertaining to the product labelling
- Increase in home bakers
Key Target Audience
Cakes maker, Sub-component provider, Channel partners, Industry association, Downstream vendors, Government and investment communities, Research organization and associations and End-user