Global Cake Market to Grow at a CAGR of 3.1% During the Period 2024-2032, Driven by Demand for Celebratory Cakes and Healthy Innovations in Cake Recipes

The global cake market is expected to be driven by demand for cakes, cupcakes and high-end confectionary experiences. Cakes are an essential commodity to celebratory events.

Key areas include bakeries (retail, wholesale, in-store), convenience stores, colleges and universities, hotels, restaurants, cafes, and business houses (corporate dining/feeding events). Cupcakes are expected to be more in demand. Gluten-free cakes are expected to be a fast-growing segment. Further, custom cakes and designer cakes are growing in popularity. While North America and Europe are likely to be key markets, Asia Pacific is also emerging as a significant market.

Some popular cakes in different parts of USA are Red Velvet Cake, Carrot Cake, Ice Cream Cake, Strawberry Cake, Sponge Cake, Devil's Food Cake, Pistachio Cake, Cheesecake, Pumpkin Spice Cake, Chocolate Lava Cake, Cookie Cake, Chocolate Cake, Pound Cake, Butter Cake, Angel Food Cake, Funfetti Cake, and Lemon Cake, among others.

Customers are increasingly shifting towards healthier food alternatives. As a result, demand for cakes that are high-fibre, low-calorie, low-fat, sugar-free, gluten-free or contain more nuts and fruit has increased. Addition of fruit to cake recipes has found customer appeal.  Strawberry, apple, banana, coconut, and lemon are some common fruit flavours. Citrus fruits and berries, such as limes, oranges, blueberries, and raspberries are also becoming increasingly popular in baked food items, including cakes.

As customers seek memorable experiences, firms are making offerings that enable customers to purchase and decorate their cakes any way they like. Such experience-oriented offerings are expected to boost the market.

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Market Analysis by Type, Flavour, Distribution Channel, and Region:

• By type, the market is segmented into Sponge Cakes, Cup Cakes, Dessert Cakes, Cheesecakes, and Others.

• By flavour, the market is classified into Chocolate, Vanilla, Cheese, and Others.

• By distribution channel, the market is segmented into Hypermarkets and Supermarkets, Bakeries, Online Sales, and Others.

• By region, the market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.

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