Table of Contents
Cake Market Overview
Cake is the most diverse dessert, with various flavors and shapes, suitable for many occasions. They generally include ingredients like flour, sugar, eggs, and butter or oil, and can take the form of sponge cakes, layered cakes, bundt cakes, cheesecakes, or cupcakes. Baking involves mixing wet and dry ingredients, followed by baking in a preheated oven.
Frosting options abound, from buttercream to fondant, and decorations can be simple or elaborate. Cakes are a staple at celebrations and events, with trends like healthier options and unique designs shaping the industry. Entrepreneurs can explore opportunities in the customized cake market.
Market Drivers
The global cake market’s growth is driven by diverse consumer preferences, a culture of celebrating special occasions with cakes, and the convenience of on-the-go snacking options. Online bakeries and e-commerce have expanded access to cakes, while health and wellness trends have led to demand for healthier cake choices.
Customization and personalization are key, with personalized cakes in high demand. International bakery chains entering new markets and effective marketing efforts further stimulate the cake market. Technological advancements and cultural diversity also shape the industry.
Market Size
The global cake market is projected to reach $66.1 billion by 2033, with a consistent annual growth rate of 3.3% from 2023 to 2033. In 2023, it is expected to be valued at $47.8 billion.
List of Major Companies
These are the top ten companies operating in the Cake Market:
- Grupo-Bimbo
- General-Mills
- Premier-Foods
- Cheesecake-Factory
- McKee-Foods
- Rich-Products
- Yamazaki-Baking
- Flowers-Foods
- Britannia-Industries
- Hostess-Brands
Grupo-Bimbo
Company Overview
| Establishment Year | 1945 |
| Headquarter | Mexico City, Mexico |
| Key Management | Daniel Servitje (Chairman and CEO) |
| Revenue (US$ Bn) | $ 19.8 Billion (2023) |
| Headcount | ~ 146,296 (2023) |
| Website | http://grupobimbo.com/ |
About Grupo Bimbo
Grupo Bimbo, founded in Mexico in 1945, stands as a global bakery giant renowned for its cakes and other baked goods. With a vast international presence in over 30 countries, it boasts iconic cake brands like Entenmann’s.
The company’s commitment to quality, innovation, and sustainability has earned it a strong market position. Serving both retail and food service sectors, Grupo Bimbo is not only a business leader but also engages in community initiatives to combat hunger and support local communities, reflecting a broader sense of responsibility.
Geographical Presence
Grupo Bimbo is a significant player in the bakery industry, with a global presence spanning continents. In North America, it has acquired renowned brands and bakeries, holding a strong position in the United States and Canada. Across Latin America, including Mexico, Brazil, Colombia, and Argentina, Grupo Bimbo’s operations are substantial, reflecting its deep-rooted presence.
In Europe, the company has expanded into Spain, Portugal, and the United Kingdom, offering a diverse range of baked goods. Its commitment to global expansion is evident in its entry into Asian markets like China and Japan. Furthermore, Grupo Bimbo reaches into international markets in Africa and the Middle East, making its bakery products available worldwide.
Recent Developments
- In January 2024, Grupo Bimbo pledged its support for the Women’s Empowerment Principles (WEPs), which offer guidelines for fostering gender equality and empowering women across workplaces, marketplaces, and communities.
- In September 2023, Grupo Bimbo introduced the second edition of Bimbo Open Door, its open innovation platform for food companies, aimed at shaping the future of the food industry and promoting collaboration.
General-Mills
Company Overview
| Establishment Year | 1856 |
| Headquarter | Golden Valley, Minnesota, U.S. |
| Key Management | Jeffrey Harmening (Chairman and CEO) |
| Revenue (US$ Bn) | $ 20.1 B (2023) |
| Headcount | ~ 34,000 (2023) |
| Website | http://www.generalmills.com/ |
About General Mills
General Mills, a renowned food company, plays a significant role in the cake sector. Through brands like Betty Crocker and Pillsbury, they provide a wide array of cake mixes, frostings, and decorations, simplifying home baking.
Recognized and trusted, their products are staples in grocery stores, offering consumers convenient solutions for cake preparation. General Mills continually adapts its cake recipes to changing tastes, emphasizing innovation. Additionally, the company engages in community initiatives, demonstrating a commitment beyond profits.
Geographical Presence
General Mills is a global company with operations spanning various regions worldwide. While headquartered in the United States, it has a strong presence in North America, Latin America (including Mexico, Brazil, and Argentina), Europe (including the United Kingdom and France), Australia, Asia (including China and India), and select Middle Eastern and African markets. This extensive geographical reach allows General Mills to cater to diverse consumer preferences and adapt its products to local tastes.
Recent Developments
- In September 2023, General Mills, Inc. acquired Fera Pets, Inc., a company specializing in pet supplements, founded by veterinarians. This marks General Mills’ entry into the pet supplement category and serves as the inaugural acquisition for its recently established growth equity fund.
- In August 2022, Old El Paso launched Tortilla Pockets, soft flour tortillas with a sealed bottom for mess-free filling. This innovation simplifies the taco customization process, making it easy and enjoyable.
Premier-Foods
Company Overview
| Establishment Year | 1975 |
| Headquarter | Hertfordshire, United Kingdom |
| Key Management | Colin Day (Chairman) |
| Revenue (US$ Bn) | $ 1.2 Billion (2023) |
| Headcount | ~ 4,322 (2023) |
| Website | http://www.premierfoods.co.uk/ |
About Premier Foods
Premier Foods plc, a prominent food company, holds a strong presence in the cake industry. With well-known brands like Mr. Kipling and Cadbury Cakes, they offer a wide array of high-quality cakes and sweet treats.
Innovation is key, as they regularly introduce new flavors and formats to keep their cake products appealing. Their distribution spans both retail and wholesale sectors, making their cakes accessible to consumers in grocery stores and food service establishments. Premier Foods also actively engages in social responsibility initiatives, showcasing a commitment that extends beyond business profits.
Geographical Presence
Premier Foods plc primarily operates in the United Kingdom, where it has a significant geographical presence. The company’s focus is primarily on the UK market, where it manufactures, distributes, and markets its food products, including cakes, under various brand names such as Mr. Kipling and Cadbury Cakes.
Recent Development
- In January 2024, Premier Foods initiated the “Win a Dinner, Give a Dinner” promotion in partnership with FareShare, a food redistribution charity. This campaign has expanded to include all major retailers across the UK.
- In October 2023, Premier Foods expanded its presence in the breakfast meal sector by acquiring FUEL10K, a dynamic breakfast brand known for its range of granola, oats, and beverage products.
Cheesecake-Factory
Company Overview
| Establishment Year | 1972 |
| Headquarter | Calabasas, California, U.S. |
| Key Management | David Overton (Chairman and CEO) |
| Revenue (US$ Bn) | $3.3 Billion (2022) |
| Headcount | ~ 47,500 (2022) |
| Website | http://thecheesecakefactory.com/ |
About The Cheesecake Factory
The Cheesecake Factory is renowned for its decadent cheesecakes and diverse dessert menu. They offer a variety of cake options, including layer cakes and chocolate cakes, alongside their iconic cheesecakes. Operating as both a restaurant and a retail bakery, customers can enjoy these delectable cakes on-site or purchase whole cakes for special events.
With a strong reputation for quality and innovation, The Cheesecake Factory’s cakes are a popular choice for celebrations and dining out, available in numerous locations across the United States and beyond.
Geographical Presence
The Cheesecake Factory, a well-known restaurant chain, has a substantial geographical presence primarily within the United States, spanning across various states, including California, Florida, New York, and Texas.
Additionally, the company has extended its reach to international markets, with restaurants in countries such as the United Arab Emirates (UAE), Mexico, Saudi Arabia, Kuwait, and Qatar. This expansion strategy strategically targets areas with high consumer traffic and demand for casual dining experiences.
Recent Development
- In July 2023, the Cheesecake Factory unveiled a new treat, the Cookie Dough Lover’s Cheesecake with Pecans.
McKee-Foods
Company Overview
| Establishment Year | 1934 |
| Headquarter | Collegedale, Tennessee, U.S. |
| Key Management | Mike McKee (President & CEO) |
| Revenue (US$ Bn) | $836 M (2021) |
| Headcount | ~ 6,800 (2021) |
| Website | http://www.mckeefoods.com/ |
About McKee Foods Corporation
McKee Foods Corporation, known for its iconic Little Debbie brand, is a key player in the cake industry. Their portfolio boasts a wide variety of snack cakes and sweet treats, including favorites like Swiss Rolls, Cosmic Brownies, and Nutty Bars.
Innovation and introducing new cake flavors are central to their approach, ensuring continued appeal to consumers. These cakes are readily available in grocery stores and supermarkets, along with distribution to food service establishments. McKee Foods has earned a reputation for quality and community engagement, making it a trusted name in the world of snack cakes.
Geographical Presence
McKee Foods Corporation is primarily located in the United States, with its headquarters situated in Collegedale, Tennessee. This company is renowned for its iconic brand, Little Debbie, which is well-known throughout North America.
McKee Foods Corporation’s operations are primarily concentrated in the United States, where it manufactures a wide range of snack cakes and other baked goods under the Little Debbie brand.
Recent Developments
- In January 2024, McKee Foods Corporation provided the PIE Innovation Center in Cleveland, Tennessee, with the first of two retired class 8 commercial trucks, as part of their commitment.
- In March 2020, McKee Foods revealed plans for a significant investment in its Collegedale operations, which includes a substantial expansion of its Apison Plant.
Rich-Products
Company Overview
| Establishment Year | 1945 |
| Headquarter | Buffalo, New York, U.S. |
| Key Management | Richard Ferranti (CEO) |
| Revenue (US$ Bn) | $ 5.8 Billion (2023) |
| Headcount | ~ 11,000 (2023) |
| Website | http://www.richs.com/ |
About Rich Products Corporation
Rich Products Corporation is a global food company renowned for its extensive involvement in the cake and bakery industry. Their diverse range of cakes caters to various preferences in the retail and food service sectors. With a strong emphasis on innovation and customization, they offer tailored cake solutions for clients.
Rich Products enjoys a trusted reputation for quality and excellence, serving consumers and clients worldwide. Engaging in community initiatives reflects their commitment beyond business profits, making them a respected name in the cake sector.
Geographical Presence
Rich Products Corporation, a global leader in the food industry, boasts an extensive geographical presence across North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. In the United States, the company operates multiple facilities and offices, serving diverse food service and retail customers.
Rich Products also has a significant European footprint, providing various food solutions. Expanding further, it serves the Asia-Pacific region with manufacturing facilities and offices, tailoring its offerings to local markets. Latin America benefits from Rich Products’ presence, with customized food solutions, while the Middle East and Africa receive specialized attention.
Recent Developments
- In September 2022, Rich Products Corporation joined the Food Nutrition and Health Investor Coalition to improve food-related health and combat hunger.
- In April 2022, Rich Products broadened its plant-based product line by launching pint-sized containers of Rich’s Oat Milk Frozen Dessert.
Yamazaki-Baking
Company Overview
| Establishment Year | 1948 |
| Headquarter | Tokyo, Japan |
| Key Management | Nobuhiro Iijima (President) |
| Revenue (US$ Bn) | $ 8.0 Billion (2023) |
| Headcount | ~ 32,210 (2023) |
| Website | http://www.yamazakipan.co.jp/english/index.html |
About Yamazaki Baking
Yamazaki Baking Co., Ltd. is a prominent Japanese food company deeply involved in the cake and bakery industry. They offer a wide array of cakes, including both traditional Japanese and Western-style varieties, catering to diverse consumer preferences. Combining innovation with traditional baking techniques, they continuously introduce new flavors and designs.
Their cakes are available for both retail consumers and the food service industry, while their global presence extends their Japanese cake expertise to international markets. Yamazaki Baking is renowned for its quality and craftsmanship, with a strong commitment to community engagement and corporate social responsibility.
Geographical Presence
Yamazaki Baking Co., Ltd. is a Japanese company with a significant presence primarily in Japan. They operate a network of bakeries, distribution centers, and retail outlets across the country. Their extensive presence within Japan allows them to cater to the local market efficiently.
Recent Developments
- In August 2022, Yamazaki Baking purchased the packaged bread and delicatessen food businesses from Kobeya.
Flowers-Foods
Company Overview
| Establishment Year | 1919 |
| Headquarter | Thomasville, Georgia, U.S. |
| Key Management | A. Ryals McMullian (President and CEO) |
| Revenue (US$ Bn) | $ 4.8 Billion (2022) |
| Headcount | ~ 9,200 (2022) |
| Website | http://www.mbda-systems.com/ |
About Flowers Foods
Flowers Foods, an American bakery company, holds a prominent position in the cake industry. They own renowned brands like Tastykake, Mrs. Freshley’s, and Dave’s Killer Bread, offering a wide range of cake products, including snack cakes and specialty options.
Flowers Foods caters to both retail and food service sectors, with their cakes available in grocery stores and food establishments. Their commitment to quality and innovation is evident through regular introductions of new flavors and variations. The company also actively participates in community initiatives and sustainability efforts, showcasing a dedication beyond business profits.
Geographical Presence
Flowers Foods Inc., a prominent player in the food industry, boasts a substantial geographical presence primarily in the Southeast and Southwest regions of the United States. Headquartered in Thomasville, Georgia, the company operates a vast network of bakeries, production facilities, and distribution centers strategically located nationwide.
This strategic network efficiently supplies a diverse range of bakery products to customers, serving states such as Georgia, Florida, Alabama, South Carolina, Tennessee, Texas, and Oklahoma. Flowers Foods Inc. is known for its popular brands like Nature’s Own, Wonder, and Dave’s Killer Bread, and it has shown efforts to expand into other regions.
Recent Development
- In May 2023, Flowers Foods issued a recall for specific Tastykake Chocolate Kandy Kakes because they may contain undeclared peanuts. Consuming this product poses a potential risk of severe allergic reactions, especially for individuals with peanut allergies, which could be life-threatening.
- In February 2023, Flowers Foods, Inc. acquired Papa Pita Bakery, known for its tortillas, premium bagels, buns, breads, English muffins, and flatbreads. Papa Pita Bakery will continue its operations as an independent subsidiary under Flowers Foods.
Britannia-Industries
Company Overview
| Establishment Year | 1892 |
| Headquarter | Bangalore, India |
| Key Management | Nusli Wadia (Chairman) |
| Revenue (US$ Bn) | $ 2.1 Billion (2023) |
| Headcount | ~ 4,570 (2023) |
| Website | https://www.britannia.co.in/ |
About Rafael Britannia Industries
Rafael Britannia Industries Limited, a prominent Indian food company, has a strong presence in the cake and bakery sector. Their cake offerings under brands like Britannia Cakes and Britannia Treat provide a diverse range of flavors and formats, catering to varied consumer preferences. These cakes are easily found in grocery stores and supermarkets across India, ensuring widespread availability.
Britannia’s commitment to quality and innovation is evident through its regular introduction of new cake flavors and products. Additionally, the company actively participates in community initiatives and corporate social responsibility, emphasizing a broader commitment beyond profits.
Geographical Presence
Britannia Industries maintains a substantial geographical presence primarily centered in India, where it operates an extensive distribution network, catering to diverse consumer segments. While India remains its core market, Britannia has ventured into international markets in regions such as the Middle East, Africa, and Southeast Asia.
Recent Developments
- In September 2023, Britannia Bourbon unveiled a product refresh, featuring updated packaging. This makeover reflects Britannia’s dedication to staying current while maintaining the beloved Bourbon flavors that have made it a household favorite.
- In September 2023, Britannia Milk Bikis initiated the #GrowthNeedsBoth campaign, challenging traditional parenting stereotypes. The campaign underscores the essential role of both parents in a child’s success, emphasizing equal and active involvement.
Hostess-Brands
Company Overview
| Establishment Year | 2013 |
| Headquarter | Kansas, United States |
| Key Management | Andy Callahan (CEO) |
| Revenue (US$ Bn) | $ 1.3 Billion (2022) |
| Headcount | ~ 2,000 (2022) |
| Website | http://hostessbrands.com/ |
About Hostess Brands
Hostess Brands, LLC, an American food company, is renowned for its iconic presence in the cake and bakery industry. They specialize in snack cakes, with beloved brands like Twinkies, Ho Hos, Ding Dongs, and CupCakes. These individually wrapped treats are favored by consumers of all ages, offering convenience for on-the-go enjoyment.
Hostess products can be found in grocery stores, convenience stores, and supermarkets, making them easily accessible. Their commitment to quality and occasional innovation keeps their cake offerings appealing, solidifying their status as a popular choice for cake enthusiasts and snack aficionados.
Geographical Presence
Hostess Brands, Inc., a prominent American baked goods and snacks company, primarily operates in North America, with its headquarters in Lenexa, Kansas, USA. The company has an extensive network of production facilities and distribution channels across the United States and Canada.
While Hostess has explored international opportunities, its primary focus remains on serving the North American market, offering iconic products like Twinkies and CupCakes.
Recent Developments
- In November 2023, the J. M. Smucker Co. confirmed the completion of its acquisition of Hostess Brands, Inc.
- In March 2023, Hostess Brands launched two new breakfast snacks: Hostess Chocolate Drizzle Baby Bundts and Hostess Donettes Old Fashioned mini donuts.
Discuss Your Needs With Our Analyst
Please share your requirements with more details so our analyst can check if they can solve your problem(s)
