The global Cake Market is set to experience a period of robust growth owing to steadily increasing world population. Fortune Business Insights shares this information in its new report, titled “Cake Market Size, Share and Industry Analysis, By Product Type (Dessert Cake, Sponge Cake, Cup Cake, Others (Pound Cake and Red Velvet Cake)), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Online Retail) And Regional Forecast 2020-2027” Additionally, the report provides:
- Meticulous research into the market drivers, trends, factors, and restraints;
- Detailed assessment of the market segments;
- 360-degree analysis of overall industry outlook;
- Projections of future prospects of the market; and
- In-depth evaluation of the regional and competitive dynamics characterizing the market.
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Market Drivers and Trends:
Growing world population According to the UN Department of Economic and Social Affairs (DESA), global population is expected to reach 8.6 billion by 2030 and 9.8 billion by 2050. As a result, demand for food is likely to spike in the next decade, boding well for the Housefly Control Market growth.
Increasing need to narrow food security gaps Numbers released by the World Bank reveal that around 151 million children below the age of 5 are suffering from chronic malnutrition. Moreover, close to 2 billion people worldwide are deficient in essential micronutrients to be productive and ward off diseases. This would necessitate elevating agricultural productivity, which will be one the keyCake Market trends.
Development of revolutionary technologies The agriculture sector is undergoing rapid transformations on account of introduction of next-generation technologies. For example, governments and academic institutions are increasingly investing in developing genome editing tools such as CRISPR to build higher pest resistance in crops and increase their capacity to create food. Other advanced technologies such as blockchain, AI, and IoT are also enhancing theCake Market potential in the forthcoming years.
Major Segments includes:
By Product Type
- Dessert Cake
- Sponge Cake
- Cup Cake
- Others (Pound Cake and Red Velvet Cake)
By Distribution Channel
- Convenience Stores
- Specialty Stores
- Online Retail
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Major players are adopting different strategies, such as mergers and acquisitions, new product launches, and strategic collaborations, to gain a competitive edge in the market.
Some of the key players covered in the Cake Market report include
- Finsbury Food Group Plc,
- Mondelez International, Inc.,
- Bonn Group,
- Grupo Bimbo.,
- General Mills, Inc.,
- Britannia Industries Limited,
- Hostess Brands, LLC.,
- George Weston Limited,
- Flowers Foods, Inc., and BreadTalk Group Pte Ltd.
This market has been segmented into different regions such as North America, Europe, and Asia-Pacific. Among these, is anticipated to dominate the Cake Market share during the forecast period
Major Table of Content for Cake Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Cake Market Analysis, Insights and Forecast, 2014-2026
- North America Cake Market Analysis, Insights and Forecast, 2014-2026
- Europe Cake Market Analysis, Insights and Forecast, 2014-2026
- Asia Pacific Cake Market Analysis, Insights and Forecast, 2014-2026
- Middle East and Africa Cake Market Analysis, Insights and Forecast, 2014-2026
- Latin America Cake Market Analysis, Insights and Forecast, 2014-2026
- Competitive Landscape
- Company Profile
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