Market Size of Pastries Industry
Study Period | 2019-2029 |
Market Size (2024) | USD 65.38 Billion |
Market Size (2029) | USD 74.99 Billion |
CAGR (2024 - 2029) | 2.78 % |
Fastest Growing Market | Asia Pacific |
Largest Market | Europe |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Pastries Market Analysis
The Pastries Market size is estimated at USD 65.38 billion in 2024, and is expected to reach USD 74.99 billion by 2029, growing at a CAGR of 2.78% during the forecast period (2024-2029).
The growing popularity of customizable pastries and increasing product innovation are expected to drive the market's growth during the forecast period. The use of specialty ingredients, such as whole-grain bread, concentrates, and sweet goods mixes in pastries by manufacturers, has seen significant developments as a part of the overall demand for healthy ingredients, indulgence without calories, and high demand for on-the-go food products. For instance, in August 2021 Europastry brands with Verdeo, a company dedicated to creating new ways to use olive oil in food products, launched a range of pastries, Olive. The new range, including croissants, donuts, and muffins, is made with 100% olive oil instead of butter and palm oil.
Furthermore, among the most popular products in the bakery segment are cakes and pastries. It is often consumed for ceremonial events like birthdays, weddings, and anniversaries. Cakes come in a variety of sizes and shapes, and they can be made to the customer's specifications. A pastry is a flour, water, and oil dough that can be both sweet and savory. Pie and tart crusts are frequently made from baked or fried pastries. Pastries like puff, shortcrust, and choux are among the most popular varieties sold in stores.
The two main reasons propelling the market's expansion are the increased demand for indulgent food products and growing urbanization. The consumption of ready-to-eat food items like cakes, pies, and pastries has increased due to the growing working population and rising disposable incomes, which has increased sales. Also, a broad and diverse consumer base is being served by ongoing experimentation to develop unique flavors of fillings and toppings, coupled with the rising desire for customized pastries and cakes. Moreover, a rise in consumer health concerns has prompted the use of healthier ingredient substitutes, such as whole wheat flour, in place of white flour.
Pastries Industry Segmentation
Pastries are various baked products made from flour, sugar, milk, butter, shortening, baking powder, and eggs. Pastries are considered bakers' confectionery products. The global pastry market is segmented by flavor, product type, distribution channel, and geography. By flavor, the market includes sweet and savory pastries. By product type, the market is segmented into packaged pastries and unpackaged or artisanal pastries. By distribution channel, the market is segmented into on-trade and off-trade channels. Off-trade channels further include supermarkets/hypermarkets, convenience/grocery stores, specialty stores, online retail stores, and other distribution channels. Moreover, the study analyzes the pastries market in the emerging and established markets worldwide, including North America, Europe, Asia-Pacific, South America, and Middle-East & Africa. The market sizing has been done in value terms in USD for all the abovementioned segments.
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Packaged Pastries | |
Unpackaged/Artisanal Pastries |
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Pastries Market Size Summary
The pastries market is poised for steady growth, driven by the increasing demand for customizable and innovative pastry products. The market is experiencing a shift towards healthier ingredients, with manufacturers incorporating specialty components like whole-grain bread and sweet goods mixes to cater to health-conscious consumers. This trend is further supported by the rising popularity of on-the-go food options and the demand for indulgent yet guilt-free treats. The market is also witnessing a surge in the availability of gluten-free, organic, and natural ingredient-based pastries, aligning with consumer preferences for clean-label and functional foods. The Asia-Pacific region, in particular, is emerging as a significant market due to rising disposable incomes, urbanization, and a growing appetite for Western-style baked goods.
The competitive landscape of the pastries market is characterized by the presence of numerous regional and international players, all vying to capture a share of the expanding consumer base. Companies are focusing on product innovation, offering unique flavors and customizable options to attract a diverse range of consumers. The market is also benefiting from the increasing trend of online sales and the expansion of distribution networks, allowing brands to reach a broader audience. Major players such as American Baking Company, Aryzta AG, and Grupo Bimbo are actively introducing healthier and less fattening varieties to appeal to the health-conscious demographic. As the market continues to evolve, the emphasis on convenience, simplicity, and nutritional benefits remains a key driver of growth.
Pastries Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.1.1 Growing Demand for Free-From Foods Boosts Market Growth
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1.1.2 Growing Intolerance Toward Gluten and the Prevalence of Celiac Disease
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1.2 Market Restraints
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1.2.1 Price Fluctuations of Raw Material May Affect Growth
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Product Type
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2.1.1 Packaged Pastries
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2.1.2 Unpackaged/Artisanal Pastries
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2.2 Distribution Channel
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2.2.1 On-trade
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2.2.2 Off-trade
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2.2.2.1 Supermarkets/Hypermarkets
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2.2.2.2 Convenience/Grocery Stores
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2.2.2.3 Specialty Stores
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2.2.2.4 Online Retail Stores
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2.2.2.5 Other Distribution Channels
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest of North America
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2.3.2 Europe
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2.3.2.1 Spain
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2.3.2.2 United Kingdom
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2.3.2.3 Germany
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2.3.2.4 France
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2.3.2.5 Italy
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East & Africa
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2.3.5.1 South Africa
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2.3.5.2 Saudi Arabia
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2.3.5.3 Rest of Middle-East & Africa
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Pastries Market Size FAQs
How big is the Pastries Market?
The Pastries Market size is expected to reach USD 65.38 billion in 2024 and grow at a CAGR of 2.78% to reach USD 74.99 billion by 2029.
What is the current Pastries Market size?
In 2024, the Pastries Market size is expected to reach USD 65.38 billion.