Fermented pastry products are produced by fermenting and baking multi-layered dough. Increasing our knowledge of the impact of the fermentation process during pastry making could offer opportunities for improving the production process or end-product quality, whereas increasing our knowledge on the sugar release and consumption dynamics by yeast could help to design sugar reduction strategies. Therefore, this study investigates the impact of yeast fermentation and different sugar concentrations on pastry dough properties and product quality characteristics. First, yeasted pastry samples were made with 8% yeast and 14% sucrose on a wheat flour dry matter base and compared to non-yeasted samples. Analysis of saccharide concentrations revealed that sucrose was almost entirely degraded by invertase in yeasted samples after mixing. Fructans were also degraded extensively, but more slowly. At least 23.6 ± 2.6% of the released glucose was consumed during fermentation. CO₂ production during fermentation contributed more to product height development than water and ethanol evaporation during baking. Yeast metabolites weakened the gluten network, causing a reduction in dough strength and extensibility. However, fermentation time had a more significant impact on dough rheology parameters than the presence of yeast. In balance, yeast fermentation did not significantly affect the calculated sweetness factor of the pastry product with 14% added sucrose. Increasing the sugar content (21%) led to higher osmotic stress, resulting in reduced sugar consumption, reduced CO₂ and ethanol production and a lower product volume. A darker colour and a higher sweetness factor were obtained. Reducing the sugar content (7%) had the opposite effect. Eliminating sucrose from the recipe (0%) resulted in a shortened productive fermentation time due to sugar depletion. Dough rheology was affected to a limited extent by changes in sucrose addition, although no sucrose addition or a very high sucrose level (21%) reduced the maximum dough strength. Based on the insights obtained in this study, yeast-based strategies can be developed to improve the production and quality of fermented pastry.