Dry Cakes Market in India to Grow at 12% until 2022

Rising working class population, growing per capita income and changing consumer preferences to drive India dry cakes market through 2022

According to a report released by TechSci Research, “India Dry Cakes Market By Type, By Distribution Channel, Competition Forecast & Opportunities, 2012 – 2022”, India dry cakes market is projected to exhibit a CAGR of more than 12% during 2017-2022. Available in a variety of flavors and types, dry cakes are light and fluffy in texture. Growing consumption of cakes in India indicates huge untapped growth potential in the country’s dry cakes market as well as changed perception of people regarding cakes. Innovative product offerings, increasing disposable income, rising penetration of organized players in traditionally untapped market is expected to boost dry cakes market in India over the next five years.  

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"India Dry Cakes Market"

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According to the National Council of Applied Economic Research, number of middle class households in India was 53.3 million in 2015 and this number is forecast to reach 113.8 million by 2025. Moreover, number of smartphone users in the country grew from 44 million in 2012 to 251.8 million in 2016. On account of growing middle-class population and increasing smartphone users, the online sales of dry cakes are anticipated to grow at a very fast rate in India through 2022. With increasing acceptance of modernized packaged food products and rising availability of innovative product options and flavors, the bar cakes segment is expected to dominate the India dry cakes market during forecast period.

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“Growing availability of foreign brands through e-commerce, continuous investments in R&D activities to introduce new flavors and variants within the dry cakes segment and rising number of brand endorsements by celebrities are anticipated to fuel dry cakes market in India in the coming years. Besides that, increasing popularity of western and packaged products and greater accessibility and availability of these products at supermarkets or hypermarkets are few of the other major factors anticipated to steer dry cakes market in India over the next five years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“India Dry Cakes Market By Type, By Distribution Channel, Competition Forecast & Opportunities, 2012 – 2022” has evaluated the future growth potential of India dry cakes market and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in India dry cakes market.

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