North America Cakes Market Insights Forecasts to 2033

• The North America Cakes Market Size was valued at USD 13.98 Billion in 2023.
• The Market is Growing at a CAGR of 4.35% from 2023 to 2033
• The North America Cakes Market Size is Expected to Reach USD 21.40 Billion by 2033

The North America Cakes Market Size is Anticipated to Reach USD 21.40 Billion by 2033, growing at a CAGR of 4.35% from 2023 to 2033. North American cakes market is being driven by rising consumer demand for premium, custom, and healthier cake options and growing convenience through ready-to-eat products.

Market Overview

North America cakes market relates to the overall market for diverse cake types and products in the countries of North America, the United States, Canada, and Mexico. Such markets include many kinds of cake types, namely, traditional, premium, specialty, such as gluten-free or sugar-free cakes, and even ready-to-eat cakes. The cake is a sweet dish prepared with flour, sugar, and other materials, baked in the oven, and eaten as a dessert after the meal. Cake is primarily used to celebrate occasions like birthdays, anniversaries, Christmas, and other festivals. Moreover, Consumers have become more concerned with the quality of ingredients used in making desserts and the distinct flavors. Such a change in preference is enhancing the demand for specialty cakes that chefs and caterers offer. As health awareness continues to rise, demand for healthy cakes, such as gluten-free and sugar-free cakes, also increases. Bakeries adapt to the changing demand by innovating healthier options that do not compromise on taste and quality. The North American cakes market is very prospective, as changing consumer preferences and trends in cuisines open endless avenues for new developments and further growth.

Report Coverage

This research report categorizes the market for the North America cakes market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the North America cakes market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the North American cakes market.

Driving Factors

Consumers are now more interested in high-quality, premium, gourmet cakes with distinctive flavors, artistic designs, and high-quality ingredients. Customization options for events like weddings, birthdays, and holidays are driving the demand. Growing consumer awareness of health and wellness creates demand for healthier cake alternatives. These include gluten-free, low-calorie, sugar-free, and plant-based cakes, appealing to the needs of health-conscious consumers and, therefore, opening up a bigger consumer base.

Restraining Factors

The traditional cake market might get affected with a rise in individuals following diet-restrictive measures like vegan, dairy-free, gluten-free, or low-carb diets. Ingredients such as flour, sugar, butter, and eggs sometimes tend to have fluctuating costs due to agricultural yields, labor costs, or even supply chain interruptions. Thus, the price of the raw materials determines the final cake price, which may cause price volatility with unprofitable sales to small-scale producers.

Market Segmentation

The North America cakes market share is classified into product type and distribution channel.

• The dessert cakes segment accounted for the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period.

Based on the product type, the North America cakes market is segmented into dessert cakes, sponge cakes, cupcakes, and others. Among these, the dessert cakes segment accounted for the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period. The growth is attributed to the interest of consumers in North America in gourmet, artisanal, and premium dessert cakes that has increased recently. This demand for better quality, unique cakes with exotic flavors, better ingredients, and innovative designs stimulates the segment. Many dessert cake manufacturers are launching healthier options, such as low-calorie, gluten-free, and plant-based cakes, in response to the growing trend of health-conscious eating, which may increase demand even more.

• The retail segment accounted for the highest share in 2023 and is expected to grow at a significant CAGR during the forecast period.

Based on the distribution channel, the North America cakes market is divided into retail and food service. Among these, the retail segment accounted for the highest share in 2023 and is expected to grow at a significant CAGR during the forecast period. The growth is driven by different types of cakes available in retail chains, including supermarkets, bakeries, and convenience stores, that sell pre-packaged or ready-to-serve cakes to consumers looking for convenient and easy options. This convenience increases the quantity of sales volumes, especially among busy people or families. The performance of the retail industry has increased as a result of consumers' ability to order cakes online from both local bakeries and big supermarket chains, guaranteeing prompt home delivery.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the North America cakes market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Pepperidge Farm (Campbell Soup Company)
• Bimbo Bakeries USA (Grupo Bimbo)
• Hostess Brands, Inc.
• McKee Foods
• Bake’n Joy Foods, Inc.
• General Mills
• Sara Lee Frozen Bakery
• Dessert Holdings
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In November 2023, Bimbo Bakeries USA, a subsidiary of Grupo Bimbo, introduced its first Entenman cake. The "real ingredients" used ensure that they are free from artificial colors and contain no fructose, making it a great snack for breakfast, midday, or evening.

Market Segment

This study forecasts revenue at North America, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the North America cakes market based on the below-mentioned segments:

North America Cakes Market, By Product Type

• Dessert Cakes
• Sponge Cakes
• Cupcakes
• Others

North America Cakes Market, By Distribution Channel

• Retail
• Food Service