Global Pastries Market to Reach $888.76 Billion by 2023

Global Pastries Market was worth USD 30.86 billion in 2016 and estimated to be growing at a CAGR of 2.9%, to reach USD 35.80 billion by 2021. Pastry is a dough of flour, water, and shortening that may be sweetened or savoury. Sweetened pastries are often described as bakers' confectionery.
The word "pastries" refer to many kinds of baked products that are made from ingredients such as flour, sugar, milk, butter, baking powder, shortening, and eggs. The pastry varies from bread by having a higher fat content, which contributes to a flaky or crumbly texture.

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The global pastries market is driven by the rising demand, increase in urbanization leading to the higher availability of bakeries. However, health concerns are a major factor restraining market growth. Therefore, to attract the health conscious populace, the vendors introduced healthier varieties with lesser fat content. Also, the rapid growth in home baking also acts as a restraint on market growth as it reduces the demand for packaged pastries.

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The Global Pastries market is segmented on the basis of taste, sales and by distribution channels. On the basis of taste, the market is segmented into sweet and savoury. On the basis of sales, the market is further categorized into packaged pastries and artisanal and in-store bakeries. On the basis of the distribution channel, the market is distributed among online sales, supermarkets/hypermarkets, convenience stores and others.

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The market has also been geographically segmented into North America, Europe, Asia Pacific, Latin America and Middle-East & Africa. In 2016, Europe led the global Pastries market in terms of market share. The market share in North America has dwindled owing to the rising incidence of obesity in the region coupled with increasing consumer health awareness. The market for these Pastries in Asia-Pacific area is amplifying because of more of consumption. The Asia-Pacific and other rising nations are foreseen to develop at a quick pace in the Pastries market in the following years when compared with the seasoned markets of developed regions.
The major players operating in the Global carbonated drinks industry include American Baking Company, Aryzta, BreadTalk, Britannia, Edeka, Edwards, Edwards Cake & Candy Supplies, Finsbury, FlowerFoods, George Weston, Groupo Bimbo, Hillshire Brands, Hostess Brands, McKee Foods, Monginis, Mulino bianco, Pepperidge Farm, Tyson Foods, Yamazaki Baking.

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