The American Frozen Cake and Pastry Market Posted Record Gains

IndexBox has just published a new report: 'U.S. Frozen Cakes, Pies, And Other Pastries Market. Analysis And Forecast to 2025'. Here is a summary of the report's key findings.

For the seventh consecutive year, the U.S. frozen cake and pastry market recorded growth in sales value, which increased by 3.6% to $7.3B in 2019. This figure reflects the total revenue of producers and importers (excluding logistics costs, marketing costs, and retail margins, which will be included in the final consumer price).

The market value increased at an average annual rate of +4.3% over the period from 2013 to 2019; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of 6.1% y-o-y. Over the period under review, the market reached the maximum level in 2019 and is expected to retain growth in years to come.

Production of Frozen Cakes, Pies, And Other Pastries in the U.S.

The American frozen cake and pastry market is largely buoyed by domestic production - despite growing robustly over the last decade, imports occupy only 15% of the market. Frozen cake and pastry production rose modestly to $6.6B in 2019. The total output value increased at an average annual rate of +3.9% over the period from 2013 to 2019; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years.

Exports from the U.S.

For the fourth consecutive year, the U.S. recorded growth in shipments abroad of frozen cakes, pies, and other pastries, which increased by 6.7% to 46K tons in 2019. The total export volume increased at an average annual rate of +6.5% from 2013 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. In value terms, frozen cake and pastry exports totaled $140M (IndexBox estimates) in 2019.

Imports into the U.S.

In 2019, the number of frozen cakes, pies, and other pastries imported into the U.S. stood at 239K tons, remaining constant against 2018. In general, total imports indicated a prominent expansion from 2013 to 2019: its volume increased at an average annual rate of +8.3% over the last six years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. In value terms, frozen cake and pastry imports stood at $1.1B (IndexBox estimates) in 2019.

Based on 2019 figures, imports increased by +66.7% against 2014 indices. Over the period under review, imports reached the peak figure in 2019 and are likely to continue growth in the immediate term.

Imports by Country

In 2019, Canada (196K tons) constituted the largest supplier of frozen cake and pastry to the U.S., accounting for an 82% share of total imports. Moreover, frozen cake and pastry imports from Canada exceeded the figures recorded by the second-largest supplier, France (9.5K tons), more than tenfold.

From 2013 to 2019, the average annual rate of growth in terms of volume from Canada amounted to +7.8%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+18.8% per year) and Italy (+15.1% per year).

In value terms, Canada ($884M) constituted the largest supplier of frozen cake and pastry to the U.S., comprising 83% of total imports. The second position in the ranking was occupied by France ($49M), with a 4.6% share of total imports.

Import Prices by Country

The average frozen cake and pastry import price stood at $4,438 per ton in 2019, growing by 4.9% against the previous year. Over the last six years, it increased at an average annual rate of +6.6%. The growth pace was the most rapid in 2014 an increase of 25% y-o-y. The import price peaked in 2019 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2019, the country with the highest price was Italy ($5,202 per ton), while the price for Canada ($4,509 per ton) was amongst the lowest.

From 2013 to 2019, the most notable rate of growth in terms of prices was attained by Canada, while the prices for the other major suppliers experienced more modest paces of growth.

Companies Mentioned in the Report

Rich Products Corporation, J & J Snack Foods, The Bama Companies, Sweet Street Desserts, The Eli's Cheesecake Company, Love & Quiches, Rhodes International, J. S. B. Industries, Bama Pie, Galaxy Desserts, Bonert's Incorporated, Lone Star Bakery, The James Skinner, Nemo's Bakery, Mel-O-Cream Donuts International, Culinary Arts Specialties, Coastal Foods, Labree's, Main Street Gourmet, Ralcorp Frozen Bakery Products, Marie Minnie Bakers, Astrochef, Creative Occasions, Granny's Kitchens, Circle Peak Capital Management, Steven-Robert Original's, Orange Bakery, Dawn Foods, Cloverhill Pastry-Vend, Panarama Incorporated (delaware), Edwards Fine Foods, Keystone Bakery Holdings

Source: IndexBox Market Intelligence Platform