The cakes and patisserie market continues to grow both in revenue and value terms. The market growth is forecast increase 20.7 percent by 2020, reaching a retail market value of US$150 million.
Close to 6,000 consumers were surveyed on their attitudes, perceptions and choices on the patisserie industry by Puratos, a bakery, patisserie and chocolate ingredients company. The survey revealed that the main consumer drivers for patisserie include naturalness, freshness and taste of the product. Consumers consider these three elements when buying quality cakes and confectionery.
Peter Deriemarker, market director of Asia Pacific at Puratos, said that the bakery business in Asia is benefiting from rising disposable income and changing lifestyle and consumption patterns.
It has been a struggle for the food industry to constantly create products that meet changing customer expectations whilst fulfilling their needs for food that tastes natural, delicious and fresh. Confectionery manufacturers should also place importance on food packaging, as consumers look for clean labels and good ingredient interaction.
Companies need to recognise the latest trends and translate them into their products. Companies also need to ensure they provide a wide selection of quality products to consumers. Additionally, consumers are eager to purchase products in bakeries where they focus on baking with natural ingredients.