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The global pastries market is witnessing robust growth due to the growing popularity of customizable pastries and the increasing demand for innovative food products. Pastries are made from the dough of flour, water, and shortening that may be sweet or savory in taste. The recent trend towards artisanal bakery products has led to the utilization of minimally-processed and natural ingredients in the pastries. The manufacturers are incorporating specialty ingredients such as whole-grain bread, fruits, fruit concentrates, and others due to the rise in demand from the consumers for healthy ingredients and indulgence without calories.
The indulgence foods such as pastries are purchased on the basis of their appearance, mouthfeel, texture, and taste. The manufacturers across the globe are presenting new varieties of pastries in attractive shapes and flavourful blends to meet the rising consumer demand. The savory pastries incorporated with plant-based products such as mushrooms is growing popular due to the consumers changing preferences towards vegan products. The demand for pastries with exotic flavors coupled with aesthetic appeal has increased, as the consumers want their food not only to look good but also taste good. These factors have cumulatively fuelled the growth of the global pastries market.
The consumer's inclination towards bakery products with functional benefits has led to the incorporation of gluten-free and lactose-free ingredients in pastries. The manufacturers are producing pastries, formulated using rice flour and soy milk or almond milk instead of wheat flour and cow milk. For instance, The Pastry Room, manufactures gluten-free and vegan pastry and desserts across Europe. These factors are fuelling the pastries market growth.
Key Market Driver -
Increasing Demand for Innovative Baked Products
Key Market Restraint -
Negative Health Impacts Associated with High-Calorie Food Consumption
The various health issues such as high blood pressure and obesity associated with the consumption of high-calorie food products such as pastries are hampering the market growth. The world obesity rate has increased in recent years. According to World Health Organization (WHO), in 2016, more than 1.9 billion adults, were overweight and over 650 million were obese. This has led the consumers to shift towards low calorie and fat-free diet which has negatively affected the global pastries market growth.
The key companies operating in the global pastries market are, Finsbury Food Group Plc, Flowers Foods, Grupo Bimbo, McKee Foods Corporation, Yamazaki Baking Co. Ltd., Hostess Brands, LLC, ARYZTA Food Solutions, George Weston Ltd., Monginis, and Pepperidge Farm Incorporated.
The sweet pastries are the most preferred variant. The availability of sweet pastries in numerous flavourful options are driving its market. The savory pastries are gaining popularity among the consumers due to their rich and spicy taste. The artisanal bakery is gaining traction owing to their aesthetic appeal and the consumer's growing demand for fresh, customized and premiumized baked products.
The specialty stores are the consumer's most preferred channel for buying as it offers a wide range of freshly baked pastries in the different price ranges. The supermarkets/hypermarkets are gaining popularity due to the availability of a wide range of packaged pastries and the attractive discount schemes on bulk purchasing them. The presence of in-store bakeries in the hypermarkets and supermarkets is also drawing consumers' attention as they offer freshly baked pastries.
North America is expected to witness a significant increase in the demand of pastries. The evolving consumer preferences towards innovative indulgence food products are driving the pastries market. The manufacturers are experimenting with different flavors to formulate new and distinct blends for fillings and toppings due to the consumers evolving taste preference. These factors are propelling the growth of the pastries market in the region.
Europe is projected to witness significant growth in the upcoming years. The demand of consumers in the region for convenience food is rising, especially among the millennials and working population. The existence of various established local bakeries and bakery product manufacturers in the region such as Baker’s Delight and Finsbury Food Group Plc, is driving pastries sales performance in the regions.
Asia Pacific is anticipated to witness substantial growth in the upcoming years. The region has witnessed consumers shifting preferences towards convenience food products due to rapid urbanization and the wide acceptance of western culture. Countries such as China and India are the potential markets for pastries and other baked goods due to their younger cohort.
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