Pastries Market Pastries Market Market For Gluten Free Foods Compound Annual Growth Rate C A G R By Category In Percen
Dublin, Sept. 29, 2023 (GLOBE NEWSWIRE) -- The "Pastries Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)" report has been added to ResearchAndMarkets.com's offering.
The global pastries market is on track for substantial growth, with expectations to expand from USD 64.07 billion in 2023 to USD 71.86 billion by 2028.
This growth trajectory represents a solid compound annual growth rate (CAGR) of 2.32% during the forecast period from 2023 to 2028. Key drivers and trends are poised to fuel this market's expansion.
Key Highlights:
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Customizable Pastries: The rising popularity of customizable pastries and continuous product innovation are anticipated to drive market growth. Specialty ingredients like whole-grain bread, concentrates, and sweet goods mixes are in demand, aligning with consumer preferences for healthy ingredients and on-the-go food products.
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Indulgent Food Products: A growing desire for indulgent food products and increased urbanization have boosted the consumption of ready-to-eat pastries. Consumer interest in unique flavors, customized pastries, and health-conscious ingredient substitutes further propels market growth.
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Healthy and Free-from Bakery Products: Health-conscious consumers are driving the demand for free-from bakery products that cater to specific dietary needs, such as gluten-free, kosher, organic, and natural ingredients. Nutrient-rich and clean-label pastries are gaining traction among consumers, including those with diabetes.
Market Trends:
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Nutrition and Clean Labels: Consumers increasingly seek pastries with clean-label ingredients, prioritizing wholesome, natural, and organic components. Nutritionally balanced pastries are appealing to consumers, especially those who want to limit calorie intake.
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Asia-Pacific Dominance: Asia-Pacific is a significant market due to rising disposable incomes, urbanization, and a preference for Western-style diets. China, in particular, has become one of the largest baked goods markets globally, driving pastry sales.
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Personal Gifting: Personal gifting of food items, including bakery products like pastries, is a popular trend among friends and family. Pastries are often enjoyed daily for breakfast, further contributing to market growth.
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Convenience and On-the-Go: Consumers favor bakery products like pastries for their convenience and suitability for on-the-go consumption. These factors are instrumental in the growth of the bakery products market.