North America Cakes Market

North America Cakes Market Size (2024 to 2032)

The North American cakes market size was valued at USD 16.21 billion in 2023, and the market size is expected to be valued at USD 16.74 billion in 2024 and will reach USD 21.66 billion by 2032. and is estimated to be growing at a CAGR of 3.27% from 2024 to 2032.

MARKET OVERVIEW

The cake is a form of sugary food made from flour, sugar, and other ingredients, usually baked in the oven and consumed as a dessert after a meal. The cake is mainly used to celebrate special occasions such as birthdays, anniversaries, Christmas, and other festivals. The most common ingredients used in cakes include flour, eggs, sugar, butter or oil, or margarine, and raising agents, including baking soda or baking powder. Additional ingredients and flavors used are dried, candied, or fresh fruits, cocoa, nuts, and vanilla extract, and some spicy flavors with many substitutions for the primary ingredients. Consumers around the world demand personalized baby cakes with a unique style, theme, color, topping, or flavor.

The great popularity of celebrating various types of special occasions and the success of cake cutting are supposed to remain key factors for years to come. In recent years, the trend to celebrate various kinds of special occasions, successes, or festivals, such as birthdays, weddings, wedding anniversaries, Valentine's Day, Christmas, animal birthdays, labor anniversaries, Mother’s Day and children's Day, has been increasing dramatically around North America. The demand for baked goods is also increasing significantly around the area, as they are instant, accessible and delicious foods in this rapidly urbanizing and changing lifestyle. North America benefited from the strong consumer base for baked goods, including cakes, pastries, cookies and pita bread. The market share of innovative and healthy products has increased in the regions due to the increasing number of health-conscious people across the locale. The bakery industry has seen higher profits due to shifts in consumer preferences towards advanced bakery variants. However, growing consumer awareness of diseases like diabetes, high cholesterol, tooth decay, and the like prevents them from eating sweet desserts, which can further hamper the growth of the North American cake market.On the other hand, with the constant growth of the food industry, market players have opportunities to invest in this market.

This research report on the North American cakes market has been segmented and sub-segmented into the following categories.

North America Cakes Market By Type

• Dessert Cake
• Cheesecake
• Cup Cake
• Wedding Cake

Dessert cakes were the largest product segment with a 50.5% share in 2019 and are expected to maintain their lead over the conjecture period, as these products are widely consumed fresh on various occasions. Also, it is consumed after meals in various countries as part of dessert. These cupcakes have a higher shelf life compared to their dessert counterparts. These products are eaten fresh and can be consumed after one week. Therefore, the demand for these products is also increasing among the younger generations around the world.

North America Cakes Market By Mixing Method

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

Several national players have their own specialty stores with a wide range of artisan cakes, dessert cakes and biscuits. Additionally, cupcakes and other types of baked goods with a high shelf life are widely available at the largest supermarket chains, such as Walmart, Sainsbury's, Tesco, 7-Eleven, Apar, and Aldi. These big players in the pocket industry are expanding their product offerings to attract customers. Online cake sales are increasing dramatically in many parts of the world as it is very easy and convenient for customers to order the desired cakes.

North America Cakes Market By Distribution Channel

• n-Store Bakeries
• Supermarkets
• Convenience Stores
• Online Stores

North America Cakes Market By Country

• U.S
• Canada
• Mexico
• Rest of North America

Two parallel trends dominating the US baked goods market are health and gluttony. The focus on health is supported by the launch of products that contain whole grains, high in fibre, or other ingredients that promote health. Increasingly "gluten-free" varieties of baked goods, along with the resulting higher unit price, will further drive value-based sales over the forecast period. Therefore, new product innovations coupled with packaging changes are essential to remaining competitive in the US bakery market. The industry has seen a rise in the popularity of single-use portable packaging. Sales of baked goods in the morning declined as consumers switched to healthier alternatives such as snack bars and yoghurt. With the increasing call for breakfast drink recipes and the increased use of breakfast food outlets, overall morning food consumption has declined.

KEY MARKET PLAYERS

Mondelēz International, Kellogg NA Co., Canyon Bakehouse LLC, Bimbo Bakeries USA, and Hostess Brands are some major players dominating the North American cakes Market.

RECENT HAPPENINGS IN THE MARKET

• CAKE published about its procurement by Constellation Software Inc., a $ 20 billion international provider of advanced software and services. Investing in Acquisitions Strengthens CAKE's Innovation in Performance Marketing Software and Solutions for Affiliate Marketing, Lead Generation and Multi-Channel Marketing; and reinforces the company's commitment to providing superior customer service, providing marketers, advertisers and publishers with new opportunities to increase their margins.
• The Indian Competition Commission (ICC) announced that it had approved the proposed acquisition of around 8% by private equity firm TPG in API Holdings. API Holdings is the parent company of API Holdings Group and Pharmeasy, one of the major players in electronic pharmacy. The National Court of Company Law (NCLT) approved a composite merger plan submitted by API Holdings, pursuant to a notice submitted to the regulator.