Recommended NZ | Guide to Money | Gimme: Competitions - Giveaways

Cakes And Pastries Market In Asia-Pacific Worth $35.2bn In 2013

Read More:
Contributor:
Fuseworks Media
Fuseworks Media
Cakes And Pastries Market In Asia-Pacific Worth $35.2bn In 2013

Melbourne, 09th June 2010 - The Cakes and Pastries category in Asia-Pacific was valued at $24.4bn in 2008 and Datamonitor forecasts that it will grow at a CAGR of 7.6% between 2008 and 2013, reaching a value of $35.2bn in 2013.

"As cakes and pastries offer a quick snack alternative replacing a full meal, further sales growth is expected in the Asia-Pacific region as more people in urban localities lead fast-paced lifestyles, leaving little or no time for proper meals," says Nikhil Aggarwal, Senior Consumer Goods Analyst at Datamonitor.

Datamonitor's Recovery from Recession (RfR) service indicates that Indian and Chinese consumers are likely to drive growth in this category. Indeed, in April 2010, 54% of Indian consumers and 52% of Chinese consumers reported they would either maintain or increase their expenditure in biscuits & cakes over the next 3-6 months.

"On similar lines, growth in both cookies and crackers segments is expected to come not only from changing snacking habits (eating lesser during a meal but more small meals during a day) but also from the growing trend of consumers replacing a full breakfast with cookies or crackers," adds Aggarwal, based in India.

According to Datamonitor, the cookies (sweet biscuits) market in Asia-Pacific will grow at a CAGR of 4.9% between 2008 and 2013, reaching a value of $9.53bn in 2013. The crackers (savory biscuits) market in Asia Pacific will grow at a CAGR of 5.9% over the same period, to reach a value of $4.7bn in 2013.

"Growth in the Breads and Rolls category is also expected to come from consumers moving away from local breakfast foods as a result of increasing western influence. Introduction of new healthier varieties of packaged breads such as those made from whole wheat, multi-grains, and garlic is further expected to fuel this growth," concludes Aggarwal.

Datamonitor forecasts the bread & rolls market to grow at a CAGR of 4.9% between 2008 and 2013, to reach a value of $14.8bn in 2013.

All articles and comments on Voxy.co.nz have been submitted by our community of users. Please notify us if you believe an item on this site breaches our community guidelines.