North America Cakes Market Size to Grow At 4.8% CAGR From 2024 to 2030.

 North America Cakes Market Size (2024 - 2030)

As per our research report, the North America Cakes Market size is estimated to be growing at a CAGR of 4.40% from 2024 to 2030.

Commercial bakeries, although in fewer numbers compared to retail stores, contribute nearly 80% of the total bakery industry profits within the region. These establishments are firmly established, with prominent players holding significant sway, while retail outlets exhibit more fragmentation. Presently, individuals lead busy lifestyles, fueling the demand for ready-to-cook and ready-to-eat food items.

The tradition of commemorating various special occasions and achievements through cake cutting is anticipated to continue as a primary driver of market expansion in the coming years. Additionally, the increasing preference for cakes as post-meal desserts during dining out and weekend gatherings among millennials and Gen Z consumers is poised to further stimulate market growth in the forecast period.

In response to this trend, gluten-free bakeries have demonstrated creativity and ingenuity. These businesses don't just substitute traditional ingredients with gluten-free alternatives; rather, they excel in producing cakes that are virtually indistinguishable from their gluten-containing counterparts. Ranging from rich chocolate cakes to delicate sponge cakes, their gluten-free offerings are diverse and flavorful, dispelling the misconception that gluten-free means sacrificing taste. The impact of the rise in gluten-free bakeries extends beyond niche markets, resonating throughout the entire cake industry. Conventional bakeries and large-scale manufacturers have acknowledged the importance of catering to diverse dietary requirements. Consequently, many mainstream cake producers have integrated gluten-free options into their product portfolios, recognizing the demand for inclusivity in their offerings.

Stringent regulations governing food safety and quality standards ensure that cakes meet specific health and safety benchmarks. Compliance with these regulations is imperative for safeguarding consumer interests and public health. Moreover, regulations often stipulate the information that must be disclosed on product labels, including ingredients, nutritional content, allergen alerts, and expiry dates.

The evolving consumer preferences for bakery products offering nutritional value and convenience, particularly in the context of COVID-19, are driving accelerated market growth in the region. During the coronavirus outbreak, North American consumers prioritized their health, immunity, and energy levels, leading to increased demand for gluten-free baked goods. This trend is not limited to celiac patients but also extends to health-conscious individuals seeking low-carb, low-fat, and high-protein options.

KEY MARKET INSIGHTS:

• Based on the Product Type, Dessert cakes emerged as the frontrunners, commanding a substantial market share of over 49.6%. Their popularity derives from their adaptability and extensive flavor range, catering to a broad spectrum of tastes and occasions. Following closely are cupcakes, cherished for their convenience and personalized appeal, rendering them ideal for parties and intimate gatherings. Cheesecakes have also secured their place, appreciated for their decadent, creamy texture and diverse variations, ranging from traditional New York-style to fruit-infused delights. Sponge cakes have not lagged behind, renowned for their light, fluffy consistency, making them the preferred option for aficionados of a lighter cake experience.
• Based on the Flavor, The chocolate flavor segment maintained a commanding stance in the cakes market, securing over a 35.6% share. The enduring allure of chocolate can be attributed to its delectable taste and universal appeal across all age groups. Chocolate cakes, celebrated for their diverse range and adaptability, stand as a favored option for various celebrations, including weddings, birthdays, and anniversary festivities. Following closely is vanilla, another timeless flavor. Vanilla cakes are treasured for their delicate yet indulgent taste and are frequently chosen for their compatibility with various fillings.
• Based on the Distribution Channels, In-store bakeries asserted a leading position in the cakes market, commanding over a 45.3% share. The prevalence of bakeries within stores can be attributed to their capacity to offer freshly baked, high-quality cakes, often customizable to suit individual preferences. They represent a preferred option for individuals seeking premium, freshly baked cakes to commemorate special occasions or indulge in delectable desserts. Another notable segment comprises supermarkets and hypermarkets. These establishments offer convenience to customers seeking to purchase cakes alongside their routine grocery shopping.
• Based on the region,The United States stands as the predominant region in the cake market. The growing trend for healthier gluten-free cakes has significantly boosted the demand for cakes and other bakery products across the country.
• Companies playing a leading role in the North America Cakes Market profiled in this report are Pepperidge Farm (Campbell Soup Company), Hostess Brands, Inc., McKee Foods, Bimbo Bakeries USA (Grupo Bimbo), Monginis, Merwans Confectioners Pvt. Ltd, Balconi S.p.A., Bake’n Joy Foods, Inc., Britannia Industries Limited, Bonn.

North America Cakes Market Segmentation:

By Product Type:

• Sponge cake
• Cup Cake
• Dessert Cake
• Others

By Distribution Channels:

• Retail
• Food Service

By Region:

• United States
• Canada
• Mexico

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