CAGR of 3.4% for Cakes Market Segment and Growth Opportunities till 2031
The Cake market size was valued at USD 42.95 billion in 2019 and is anticipated to grow at a CAGR of 3.4% from 2020 to 2027.
Over the next few decades, cake cutting will continue to be a major driver because of its popularity in celebrating special occasions. The industry’s size is expected to grow due to the growing demand for desserts after meals at dine-outs and weekend parties by Generation Z and millennials. The trend to celebrate special occasions, success, or festivals has increased significantly over the last few years. This includes birthdays, weddings, and anniversaries as well as Christmas, valentine’s day and Christmas, pet’s birthday, work anniversary, mothers’ day, and children’s day.
The key drivers that will drive the growth of the Cakes Market are the rising demand from consumers for food on the go, the growing popularity of customized cakes, and the rise in urbanization. The Cakes Market report offers a comprehensive analysis of the market. This report provides a detailed analysis of the market’s key segments, drivers, restraints, and competitive landscape.
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Competitor analysis: Key Players
American Baking Company
Contents in the report
– Upcoming trends up to 2031
– Major growth driving factors
– Covid-19 footprint on each regional market
Key regional contributors of Cakes market are North America, East Asia, Europe, South Asia, Southeast Asia, Middle East, South America.
Evaluation of each country’s business situation.
Each regional market has its consumption value and volume estimates.
Projections for the consumption volume, revenue, and growth rate of key geographies during the forecast period.
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Cakes Market Breakdown by Type:
Cakes Market breakdown by application:
North America ( US, Canada, Mexico, Cuba)
Europe (Germany, France, UK, Russia, and Italy)
Asia ( India, Japan, China, South Korea, Bangladesh)
LAMEA (Latin America, Middle East, Africa)
Covid-19 impact on the industry
– The COVID – 19 crisis has created havoc and made many impacts on people’s life.
– Many governments worldwide have made policies and lockdowns for the sake of the people.
– The transportation and logistics situation is devastated around the globe.
– Covid-19 has brought health and food issues around the total world.
– People have gone jobless and many factories have got shut down because of a lack of human resources.
For more information: https://market.us/report/cakes-market/
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