Australia Cake Market Report and Forecast 2024-2032

Australia Cake Market Outlook

The Australia cake market size reached USD 1.13 billion in 2023. The market is expected to grow at a CAGR of 3.03% between 2024 and 2032, reaching almost USD 1.48 billion by 2032.

Key Takeaways

• The Australian Baking Industry Association reports a substantial presence of over 4,500 bakeries across the nation. This figure encompasses both retail establishments serving consumers directly and wholesale bakeries supplying ingredients or finished products to other businesses.

• Independent bakeries capture a significant share of the Australian market, holding 87.5% of the total market share.

• Further, according to NBIA, Australian bakeries offer a diverse range of baked goods, with bread leading the production share at 45.2%. Cakes follow closely behind at 27.1%, while pastries and other bakery items account for 25.4% of total production.

Evolving consumer preferences in the Australian bakery sector is creating opportunities beyond sponge cake

Australia maintains a strong affinity for sponge cake, a delectable treat known for its light and airy texture, often complemented by a cream and jam filling.  However, consumer preferences are evolving within the bakery sector. Value-conscious consumers are increasingly drawn to artisanal bakeries offering premium products with higher margins, thus, contributing to the Australia cake market growth.

Furthermore, a growing demand for functional bakery items is evident, with consumers seeking products that cater to specific dietary needs. This includes options boasting organic ingredients, gluten-free alternatives, natural components, kosher certifications, and the utilization of alternative flours such as chia and rice, in lieu of traditional wheat flour.

In July 2022, Bannos unveiled a new line of gelato cakes, catering to a diverse range of taste preferences. This exciting range boasts a variety of flavors. Additionally, Bannos caters to dietary restrictions with the inclusion of both gluten-free and vegan options.

Market Segmentation

Australia Cake Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments

Market Breakup by Form

• Packaged

• Unpackaged/Artisanal

Market Breakup by Product Type

• Cupcakes

• Cheesecakes

• Dessert Cakes

• Sponge Cakes

• Others

Market Breakup by Distribution Channel

• Supermarkets and Hypermarkets

• Convenience Stores

• Specialty Stores

• Online

• Others

Market Breakup by Region

• New South Wales

• Victoria

• Queensland

• Australian Capital Territory

• Western Australia

• Others

The Australia cake market key players are Black Velvet & Co Pty Ltd., Sugar High Australia Pty Ltd. (Cake Mail), Cakes2U, Ferguson Plarre Bakehouses Pty Ltd., Town Inn Pty Ltd. (Miss Maud), Khatib Pty Ltd. (Looma’s), Marks Quality Cakes, Mrs Jones The Baker, Sydney SmashCakes, and Sydney Cake House Sdn. Bhd., among others.

Key Highlights of the Report