Industry Analysis & Industry Trends
Changing consumer trends, volatile commodity prices and a saturated market characterise the Cake and Pastry Manufacturing industry. Rising input prices and intensifying external competition have also posed serious challenges for the industry over the past five years. For example, supermarkets have been extending their private-label offerings in their ongoing push into the fresh food market. The move towards artisanal and gourmet foods has increased competition from retail bakeries for the industry, threatening branded manufacturers in other parts of the baked goods sector. In response, industry operators have been relying on innovative new products to stimulate demand in an otherwise stagnant market... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Cake and Pastry Manufacturing industry is in the decline stage of its life cycle, which is characterised by a saturated domestic market, a range of well-established products and a falling number of participants as both internal and external competitive pressures intensify. In the 10 years through 2021-22, industry value added is expected to contract by an annualised 3.1%, compared with real GDP growth of 2.6% annualised. This indicates a stagnant industry whose contribution to the Australian economy is falling as it continues to underperform relative to the economy.
Given the high level of saturation, it is imperative for manufacturers to constantly introduce new products so as to stimulate sales growth and differentiate themselves from their competitors... purchase to read more