PROSPECTS AND OPPORTUNITIES
Consumers will continue to turn to packaged cakes due to desire for small packs
Baked goods in China is set to see slow and stable retail volume and current value growth rates throughout the forecast period, although the rates of increase are likely to see a slowing trend. Growth is expected across all categories except dessert mixes.
Health claims are key for baked goods to differentiate
In 2024, it is anticipated that the combined share of the top five brands in baked goods in China in retail value terms will be less than 10%, indicating a highly fragmented competitive landscape. This can primarily be attributed to the dominance of small and medium-sized players in China, coupled with the severe homogenisation of products that are easily replicated and lack a core competitive edge, resulting in low consumer loyalty.
Frozen cakes, sweet pies and tarts expected to enjoy high growth potential
Driven by advances in cold chain technology and the growing focus on cost efficiency amongst foodservice businesses, frozen cakes, sweet pies and tarts in China is projected to record double-digit growth in volume terms across both retail and foodservice channels in 2024, and high single-digit CAGRs are expected over the next five years.
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Overview:
Understand the latest market trends and future growth opportunities for the Baked Goods industry in China with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Baked Goods industry in China, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Baked Goods in China report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Baked Goods in China?
- Which are the leading brands in Baked Goods in China?
- How are products distributed in Baked Goods in China?
- How is the rise of e-commerce and/or the expansion of modern grocery retail impacting traditional retail?
- What are the key health and wellness concerns driving, or challenging, sales in Baked Goods?
- How significant are vegan and vegetarian dietary requirements in determining sales growth in China?
- How has COVID-19 impacted consumer demand? To what extent have lockdown, home seclusion and stockpiling boosted sales? Will the longer term economic repercussions of the pandemic stimulate or suppress future growth?
- Where is future growth expected to be most dynamic?
- How significant will values-based claims, such as sustainability and ethical labelling, be in supporting future growth and brand equity?
Baked Goods in China - Category analysis
KEY DATA FINDINGS
Baked goods registers low single-digit growth in 2024
Pursuit of cost-effectiveness boosts the popularity of private label baked goods
Closures of offline bakery stores results in only low growth for unpackaged baked goods
Consumers will continue to turn to packaged cakes due to desire for small packs
Health claims are key for baked goods to differentiate
Frozen cakes, sweet pies and tarts expected to enjoy high growth potential
Staple Foods in China - Industry Overview
Staple foods in 2024: The big picture
Key trends in 2024
Competitive landscape
Channel developments
What next for staple foods?
DISCLAIMER
The following categories and subcategories are included:
Baked Goods
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- Packaged Flat Bread
- Unpackaged Flat Bread
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- Packaged Leavened Bread
- Unpackaged Leavened Bread
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- Packaged Cakes
- Unpackaged Cakes
- Dessert Mixes
- Frozen Baked Goods
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- Packaged Pastries
- Unpackaged Pastries
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- Sweet Pies and Tarts
- Frozen Cakes, Sweet Pies and Tarts
Baked Goods
This is the aggregation of bread, pastries, dessert mixes, frozen baked goods and cakes. Note: in most cases, baked goods from in-store bakeries are classified under unpackaged/artisanal. While many such offerings may be finished on-site, they are often prepared, then frozen or par-baked, at other locations. Such production models are very important for supermarket in-store bakeries, which are often used to drive traffic and fill stores with appetising aromas, but for which the labour resources required to run a full-service scratch bakery are not always available. Baked goods baked from central bakeries sold unpackaged in other outlets are classified as unpackaged/artisanal. In the specific case of in-store bakery counters (for example, in supermarkets), if baked goods are finished on-site but then packaged (for example, in a box or bag) with a barcode and price, set out in the store for sale in this packaging and sold like any other packaged food product (i.e. a customer takes the packaged item from a shelf) then this is classified as packaged. If however the baked good is finished on-site, displayed unpackaged but then placed in packaging as part of the transaction (i.e. a supermarket worker at an in-store bakery counter/a customer places it in a box/bag after it has been chosen, to allow it to be carried safely) this is still classified as unpackaged.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Baked Goods research and analysis database.
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