Dublin, September 29, 2021 (GLOBE NEWSWIRE) – The “Pastry Market – Growth, Trends, COVID-19 Impact and Forecasts (2021 – 2026)” report was added to ResearchAndMarkets.com offer.
The global pastries market is expected to grow at a CAGR of 3.44% during the forecast period 2021-2026.
Due to the impact of COVID-19, sales of pastries have seen increased sales, especially of frozen and fresh products, due to the increased demand for ready meals. However, artisanal pastries saw a decline in sales due to limited consumer spending on non-essential food items as well as limited production of artisanal pastries, attributed to social distancing and lockdown measures imposed by the governments of various countries in the United States. world.
The growing popularity of customizable pastries and increasing product innovation are expected to drive the market growth during the forecast period.
The use of specialty ingredients, such as whole grain bread, concentrates and mixtures of sweet products in baking, has seen major developments, as part of the global demand for healthy ingredients, a pleasure calorie-free and in high demand for take-out food. some products. Sweet treats, like cupcakes and cake slices, are purchased based on appearance, texture, mouthfeel, and other subjective attributes, and the emphasis on healthy ingredients is given priority.
Key market trends
Growing demand for freshly baked pastries
Globally, consumers are turning to baked goods that provide functional benefits and meet specific dietary needs of consumers, such as gluten-free, kosher, organic and natural ingredients and the use of flour, such as rice flour and chia flour, other than wheat flour. In addition, consumers are looking for food products that provide them instant nutrition and are willing to pay more for such products, thus enabling substantial innovation in the respective product category. Therefore, the growing demand for freshly baked pastries can be seen as an opportunity in this market, along with increased online sales and new product launches.
Increased consumption of pastries in the Middle East
Consumption of pastries in developing markets such as Asia Pacific is based on certain factors, such as increased consumption of snacks and ready meals. In addition, there is an increasing demand in the segment of decorated cakes. This displacement of consumers is due to the increase in disposable income and the preference for innovative products. Asia-Pacific is becoming a key market, as rising disposable income, urbanization and demand for Western-style diets support the growth in sales of bakery and pastry products in particular. China is expected to become one of the world’s largest bakery markets by 2022, with pastries being one of the most popular segments. Due to this factor, the Asia-Pacific pastry market is expected to experience potential increase in sales growth during the forecast period.
The pastry market is very competitive, due to the presence of a large number of regional and international suppliers. New, healthier varieties with less fat are being introduced by vendors to attract the health conscious population. Major players in this market include Flowers Foods, Grupo Bimbo, Hostess Brands, McKee Foods, and The Essential Baking Company, among others.
Reasons to buy this report:
Main topics covered:
1.1 Hypotheses of the study and definition of the market
1.2 Scope of the study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market drivers
4.2 Market constraints
4.3 Porter’s five forces analysis
4.3.1 Threat of new entrants
4.3.2 Bargaining power of buyers / consumers
4.3.3 Bargaining power of suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By flavor
5.2 By product type
5.2.1 Packaged pastries
5.2.2 Unwrapped / artisanal pastries
5.3 By distribution channel
5.3.1 Online Retail Stores
5.3.2 Supermarkets / Hypermarkets
5.3.3 Convenience Stores
5.3.4 Other distribution channel
5.4.1 North America
184.108.40.206 United States
220.127.116.11 Rest of North America
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 Rest of Asia-Pacific
5.4.4 South America
188.8.131.52 Rest of South America
5.4.5 Middle East and Africa
184.108.40.206 South Africa
220.127.116.11 Saudi Arabia
18.104.22.168 Rest of Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Strategies adopted by the main actors
6.2 Market share analysis
6.3 Company profiles
6.3.1 American Bakery Company
6.3.2 Aryzta SA
6.3.3 Britannia Industry
6.3.4 Food Flowers
6.3.5 George Weston Limited
6.3.6 Bimbo group
6.3.7 Hillshire Brands Company
6.3.8 Hostess Brands, LLC
6.3.9 McKee Foods Co.
6.3.10 Finsbury Food Group Plc
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 IMPACT OF COVID-19 ON THE MARKET
For more information on this report, visit https://www.researchandmarkets.com/r/ryq1ws
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