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India Cake Market Analysis

The Indian cake market is projected to witness a CAGR of 12.5% during the next five years.

Bakery products have been basic food products for human nutrition. The convenience, accessibility, and nutrition profile associated with them are the major factors of their sustenance in the modern market. The consumption of cakes is gaining market traction, owing to consumers' changing perceptions and their convenience and health attributes. This is increasing the popularity of on-the-go cake products baked off or made at the consumer's convenience. Due to urbanization and the increase in the working population, the preferences for out-of-home consumption and demand for instant and nutritious products have increased, which is expected to propel the market growth over the long term.

During the COVID-19 pandemic, people stopped buying cakes from bakery shops due to product safety and hygiene issues. During the pandemic, the trend of homemade cakes increased, which affected the growth of the market. On the other hand, the trend of gluten-free products is growing in India, and market players, like Britannia, Parle, and many more, are manufacturing the products according to consumer preferences.

India Cake Industry Segmentation

Cakes are a form of baked products that are made using flour, sugar, butter, and other ingredients. The rise in cake consumption is mainly due to its popularity as a celebration of food on various occasions. The market is segmented by category, product type, and distribution channel. By category, the market is segmented into packaged and unpackaged or artisanal cakes. By product type, the market is segmented into sponge cakes, cupcakes, cheesecakes, and other product types. By distribution channel, the market studied is segmented into supermarkets/ hypermarkets, specialist retailers, convenience stores, online channels, and other distribution channels. For each segment, the market sizing and forecasts have been done on the basis of value in USD million.