Prepared Cakes and Pies - US - August 2012
U.S. sales of prepared cakes and pies have weathered the recession and slow economic recovery with steady growth between 2007 and estimated 2012 levels. Consumers apparently have found a degree of comfort in RTE cakes and pies even as they limited spending on many other items. Still, the effect of health issues, such as the growing obesity epidemic and related health conditions such as diabetes, have cast somewhat of a pall over caloric foods, which could limit the potential for further growth. These concerns, and consumer preference for smaller portion sizes that fit not only shrinking budgets but also shrinking households, have resulted in growing demand for smaller serving sizes, such as single slices of cheesecake, half pies, and 6-inch cakes. This report provides analysis of these factors as well as in-depth examination of the following:
- Demographic factors, including the higher probability of women, younger consumers, and ethnic consumers to eat RTE baked goods, and how population growth of these groups will impact future sales
- How cakes and pies baked in-store dominate the market, and the role of ISBs in helping supermarkets and mass marketers stay atop the market
- Competition from home baking (using mixes or from-scratch recipes), and how companies can mitigate this challenge
- The large number of national brand players in the market and how private label sales help grow the market
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