What is Mooncake Market?
The mooncake is a Chinese bakery product which is traditionally eaten during the Mid-Autumn Festival. These are regarded are regarded as an indispensable delicacy and are offers among friends or family gatherings. The mooncakes are round pastries which measures about 10 cm in diameter and 3–4 cm thickness. The fillings are made from red bean or lotus seed paste which is surrounded by a thin crust and may contain yolks from salted duck eggs. Th moon cakes are accompanied by tea and eaten in small wedges.
The market study is being classified by Type (Cantonese Mooncakes, Beijing-style Mooncake, Suzhou-style Mooncakes, Hong Kong-style mooncake, Ningbo-style mooncake and Others) and major geographies with country level break-up.
Meixin Food Co.,Ltd. (Switzerland), Ganso (China), Wing Wah Food (China), Huamei Group (China), Suzhou Daoxiangcun (China), Guangzhou Restaurant Group Co., Ltd. (China), Jiahua Food (China), Shanghai Xinghualou (Group) Co., Ltd. (China), Beijing Daoxiangcun (China), Xian Maky (China) and Taipan Bread & Cakes (China) are some of the key players profiled in the study.
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that China Vendors will contribute to the maximum growth of Global Mooncake market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Mooncake market by Type, Application and Region.
On the basis of geography, the market of Mooncake has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increased Consumption of Bakery and Confectionery Products
- Increasing Disposable Income in Developing Economies Such as China
Market Trend
- Offerings of Mooncakes with Different Fillings and Ingredients
Restraints
- Increasing Costs of Mooncakes in Accordance with the Ingredients
Opportunities
- Changing Lifestyle of Consumers
- Increased Popularity of Mooncakes in China
Challenges
- Stiff Competition Among the Major Players
On August 2019, Hong Kong Mei Xin has Launched Marvel Mini Heroes and Disney Princess Mooncakes. It provides Disney Princess Musical Box (USD 38, 4 pcs/box, 45g each) which features four beloved princesses: Belle, Mulan, Jasmine and Snow White.
Key Target Audience
Manufacturers, Raw material suppliers, Government associations, Research organizations and Others