According to Future Market Insights research, during the projected period, the global consumption of cake boxes is estimated to stand at around US$ 402.1 Million in 2022 and is slated to increase at a CAGR of 4.5% to reach a valuation of US$ 622.9 Million by the end of 2032. The demand for cake boxes will boost with the top 5 companies estimated to hold 20% to 25% of the overall cake boxes market in 2022.
In the cake boxes market, based on the material, the paper and paperboard segment is projected to hold approximately 62% of the market share by the end of 2032 due to the possibility of customization along with its sustainability feature.
Attributes
Details
Market Size 2022
US$ 402.1 Million
Market Size 2032
US$ 622.9 Million
Value CAGR (2022 to 2032)
4.5%
Collective Value Share: Top 5 Companies (2022E)
20% to 25%
According to FMI, the cake boxes market revenue reached US$ 372.9 Million in 2021. The global cake boxes market is expected to reach US$ 622.9 Million by 2032, expanding at a CAGR of 4.5% during the forecast period. The demand for the paper and paperboard cake boxes market is estimated to accelerate with the top 5 companies holding 20 to 25% of the global cake boxes market in 2022.
The cake boxes market has and is estimated to experience a positive growth outlook in 2022. A new FMI forecast anticipates that the cake boxes market revenues will propel from 2022 to 2032 and is anticipated to create an absolute growth opportunity of US$ 250.0 Million.
The rise in consumption of bakery products including cakes and cupcakes among the population is the major factor driving the demand for cake boxes. The cake boxes market is projected to expand 1.7 times the current market value during the foreseeable period.
The North America and Europe regions are estimated to remain the major revenue-generating regions for the cake boxes market due to the high consumption of cakes in these regions along with the high number of home bakers in these regions.
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Historic Market Outlook for Cake Boxes Market
The overall cake boxes market was valued at US$ 309.0 Million in 2015. The target market accelerated at a CAGR of 3.2% from 2015 to 2021 and reached around US$ 372.9 Million by the end of 2021.
The cake boxes are the rigid paper and paperboard or plastic rigid packaging solution used for protecting and transporting the cakes to the end-users. With the constantly changing lifestyle as well as the eating habits of the consumer, the cake market is continuously evolving which has a positive impact on the cake boxes market. The consumption of cakes and cupcakes among the young population is increasing nowadays which drives the demand for cake boxes. The rise in preference for cakes and cupcakes on special occasions augments the sales of cake boxes.
Moreover, the cake boxes offering an elegant and eye-catching look gain popularity among the end-users. The cake boxes are easily customized as per the size & shape requirement which gains traction among the bakers. The growing number of home bakers creates a growth opportunity for the cake boxes market. The cake boxes are a suitable option for display packaging as it offers product visibility which bolsters the demand for cake boxes among cake producers. The cake boxes are available in different materials such as paper and paperboard and plastic. Paper and paperboard cake boxes are majorly preferred over plastic cake boxes among cake manufacturers as well as cake consumers due to their environmentally friendly features.
Overall, the rising inclination toward attractive packaging solutions among bakers creates a growth opportunity for the cake boxes market. The future growth outlook for the cake boxes market is anticipated to propel at a faster pace during the foreseeable period.
What Drives the Demand for the Bakery Packaging including Cake Boxes?
The cake boxes market is an interest-driven market for reasonable and convenient food. Also, expanding buyer inclinations toward online and home shopping have brought about expanding portion of the overall industry of the cake boxes market wherein customers can order and enjoy cakes at their doorsteps. Cake boxes are easy to use and easier to reuse or dispose of, hence driving the development of these boxes. The essential key drivers for the cake boxes are changing ways of life, food inclinations, preference for prepared food items, and a huge assortment of flavorful food varieties accessible all around the globe. The significant developing variables in the cake boxes market are the presentation of low fat, new flavors of mixes, and the presentation of low-calorie cakes. These propel the demand for cakes among the health-conscious population which helps the baker widen their reach. This propels the demand for cake boxes. Overall, the above-mentioned factors are anticipated to augment the sales of bakery packaging including cake boxes.
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Category-wise Insights
Which Material is Majorly Preferred for Manufacturing Cake Boxes?
The paper and paperboard segmented by material is the majorly preferred material for manufacturing cake boxes. The reason behind the same is its sustainability, reusability, printability, and easily customizable. The paper and paperboard segment is projected to register a CAGR of 4.4% during the forecast period.
Country-wise insights
How is the United Kingdom Shaping the Cake Boxes Market?
The United Kingdom cake boxes market is estimated to accelerate at a CAGR of 3.4% during the forecast period. The consumption of wheat flour is increasing among the United Kingdom consumer in different food items such as bread, pizza, cakes, biscuits, and others impacting the cake boxes market. As per the data provided by the United Kingdom Flour Millers, every day around 10 million cakes and biscuits are made in Britain. This is anticipated to supplement the sales of cake packaging including cake boxes in the United Kingdom
How China is anticipated to create a Growth Opportunity for the Cake Boxes Market?
China holds the major portion of the East Asia cake boxes market. China’s cake boxes market is projected to create an incremental opportunity of US$ 11.1 Million from 2022 to 2032. The reason behind the same is the expanding bakery industry in China. According to the USA Department of Agriculture (USDA), for baked goods, China is considered to be the 2nd largest retail market in the world. Moreover, the cake segment account for around 40% of the total retail baked good sales.
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Competitive Landscape
Due to the existence of many local and regional competitors, the overall cake boxes market is fragmented. Key participants use a variety of showcasing methods, including expansion, mergers and acquisitions, and product launches. Some of the recent developments in the market are as follows:
In May 2022, the paper-based packaging company named Smurfit Kappa Group announced the expansion of its production capacity by investing in a new packaging plant in Morocco for corrugated packaging.
In November 2021, Graphic Packaging International won 12 awards at the North American PPC Carton Awards which includes- Excellence Award for their McVitie’s Jaffa cakes festive gift box
Scope of the Report
Attribute
Details
Growth Rate
CAGR of 4.5% from 2022 to 2032
Base Year for Estimation
2021
Historical Data
2015 to 2020
Forecast Period
2022 to 2032
Quantitative Units
Revenue in USD Million, Volume in Units, and CAGR from 2022 to 2032
Report Coverage
Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing
Available upon Request
Cake Boxes Market by Category
By Material, Cake Boxes Market is Segmented as:
Paper & Paperboard Boxes
Plastic Boxes
By Size, the Cake Boxes Market is Segmented as:
Less than 5 oz.
5 oz. to 10 oz.
Above 10 oz.
By Printing, Cake Boxes Market is Segmented as:
Printed
Un-printed
By Region, Cake Boxes Market is Segmented as:
North America
Latin America
Europe
South Asia
East Asia
Middle East & Africa
Oceania
Frequently Asked Questions
In 2021, what was the worth of the cake boxes market?
The worth of the global cake boxes market was US$ 372.9 Million in 2021.
What will the growth outlook for the cake boxes market during the forecast period?
During the forecast period, the global cake boxes market is anticipated to expand at a CAGR of 4.5%.
By 2032, what will be the worth of the global cake boxes market?
By 2032, the global cake boxes market is projected to reach US$ 622.9 Million.
Which is the major factor driving the demand for cake boxes?
The increasing consumption of bakery products including cakes and cupcakes among the millennials is the major factor driving the demand for cake packaging including cake boxes.
Which material is preferred for manufacturing the cake boxes?
The paper and paperboard material is preferred majorly for manufacturing the cake boxes.
Which are the top 5 companies augmenting the sales of cake boxes?
The top 5 companies that are estimated to augment the sales of cake boxes are Plastic Package, Inc., LINDAR Corporation, Napco National, Graphic Packaging International, LLC, Smurfit Kappa Group plc, and Robinson Plc.
At what rate is the Indian cake boxes market projected to expand?
The Indian cake boxes market is projected to expand at a CAGR of 5.3% from 2022 to 2032 as per the FMI analysis.
