Asia Pacific Cakes Market

Asia Pacific Cakes Market Size (2024 to 2029)

Asia Pacific Cakes Market Size is expected to be worth USD 11.09 billion in 2024 and is projected to grow at a CAGR of 5.38%, to reach USD 14.42 billion by 2029.

MARKET OVERVIEW

The cake is generally a snack or a form of dessert. They used to be a modification of bread. In recent days, cake flour is made from low-protein wheat and the flour is prepared such that the starch-to-gluten ratio is high. Also, they used to be homemade or bakery-made special desserts. Now, they are one of the largest mass-produced food items. They are widely accepted and used as a symbol of celebration in almost all modern societies. In general, the ingredients of a cake include flour, eggs, sugar, butter, baking soda, or baking powder. Apart from these, several additional ingredients such as dried fruits, nuts, cocoa and several flavouring substances were added in the preparation. There are numerous recipes, styles, and shapes in which cakes can be made. The rapid increase in urban population and changing lifestyles and eating habits of people are the major factors driving the market growth. An increase in bakeries, the high usage rate of cakes in several ceremonies, and an increase in innovation regarding the making satisfying all types of consumers are also expected to drive the market growth. However, an increase in the diabetic and obese population and other health concerns are hindering market growth. 

This Report on Asia Pacific Cakes market is segmented, and sub segmented into following categories

Asia Pacific Cakes Market By Type Of The Cake

• Dessert Cake
• Cheesecake
• Cup Cake
• Ice Cream Cake
• Chocolate Cake
• Sponge Cake
• Wedding Cake

The cupcakes segment holds the largest market share due to its high popularity among children and its ease of preparation. Dessert cakes are expected to be the fastest-growing segment due to the increasing demand for desserts in ceremonies and dinners.

Asia Pacific Cakes Market By Mixing Methods

• Layer Cake
• Flourless Cake
• Pound Cake
• Shortened Cake

Layer cakes occupy the largest market share due to the innovation involved in their making.

Asia Pacific Cakes Market By Distribution Channel

1. In-Store Bakeries
2. Supermarkets
3. Convenience Stores
4. Online Stores

In-store bakeries generate the largest sales revenue whereas online stores are the fastest-growing market segment.

Asia Pacific Cakes Market By Country

• China
• India
• Japan
• Australia
• Japan

Asia Pacific is the fastest-growing market segment due to the huge consumer base and increasing demand for western food. Largely populated countries such as India and China provide huge opportunities for any bakery chains.

People are being habituated to a Western-style diet where bakery products are highly consumed in the region. All age groups are attracted to the cakes, which were taken as snacks and consumed on occasion. Consumers mainly preferred organic bakery products used in the preparation of cakes. Cakes consist of dietary products, and fruits used for flavours are beneficial in health as they have nutritional value. As these products consist of proteins and dietary fibres, people are attracted.

China had the largest share in the regional cake market due to urbanization leading to Western culture food habits.

Cakes are considered a symbol of celebration on special occasions in developed countries. Many Flavors are available by the producers to satisfy the customer's taste. The large population in China and being habituated to urban facilities and urban lifestyle was boosting the market. Children are primarily attracted to the bakery ingredients as they need daily evening snacks after playing. Desserts are highly consumed after a meal in many regions where it has become a traditional habit among the people. Many innovative ideas are coming from the producers as they introduce the cakes differently into the market, which attracts consumers.

Japan was holding the second position in the market revenue share as the people are habituated to cutting the cake during weddings and birthday parties, driving the regional market value.

Many people are serving cake as complimentary food to the guests at parties and gatherings. Cakes celebrating success or profit in any sector have become a market trend in the recent period. Online services are demanding market growth where people are being able to purchase quickly.

India has the largest population, and the demand for snacks among the population is high.

Children highly prefer cakes on every occasion, and adults prefer low-sugar and low-calorie cakes in consideration of health. The producers are being innovative to reach the customer needs where for diabetic patients, low sugar content cakes and vegetarian people egg was avoided. Fruit flavours are commonly used in the cake flavour to attract many consumers. The cakes are preserved for more than two days, attracting consumers to buy the product. Natural preservatives are being used by the producers regarding people's health. 

Australia and South Korea are countries highly adapted to the Western culture where the occasions are celebrated with cakes.

Weddings are successful with the cake cutting in these regions. Many people in this region have diversified tastes and preferences, and they are fond of experimenting with varieties. The hectic lifestyle of people was rising, and acceptance of convenience foods was prompting market growth. Consumers are attracted to the packaging and neat labelling regarding health consciousness. The pandemic had created an opportunity for people to prepare themselves at home, where consumption had become habituated by the people. Chocolate Flavors are the favourite of many people, which boosts the market demand. Various varieties of chocolate Flavors are used in preparing cakes according to customer satisfaction.

KEY MARKET PLAYERS  

Key Players In Asia Pacific Cakes Market Are Artisan Cake Company, The Blue Cake Company, American Baking Company, Edwards Cake, Britannia, Ele Cake Company, Little Venice Cake Company.