Baking mixes have gained massive popularity among consumers due to its easy-to-prepare characteristics and the growing popularity of convenience food. Market Research Future (MRFR) has extensively studied the trends and patterns within the global baking mixes market over the forecast period of 2016-2022 in a detailed study. MRFR has asserted that the baking mixes market is well positioned to capture a CAGR of 3% during the forecast period.
The trend of home-based baking is one of the preliminary factors which is substantiating the growth of the baking mixes market. Consumers prefer baking mixes due to their easy availability across local stores and convenience of preparation which make them highly popular among working consumers. The increasing penetration of the products offered by leading market players in the baking mixes market through various retail distribution channels is ensuring an escalated level of profits to the manufacturers. Changing food consumption pattern and increase in disposable income among consumers is likely to spur demand for baking mixes. Furthermore, as bakery products are viewed as comfort foods, the baking mixes market stands to achieve a significant rise in their market stake.
Increasing inclination towards using cakes as dishes in celebrations is contributing to the demand for the market. Moreover, restaurants and food chains are increasingly incorporating cakes and other bakery products because of the economies of scale that can be achieved by reducing the cost of ingredients used.
Consumers are increasingly clamoring for gluten-free products, and the baking mix industry has been swift to keep pace with the trend of Gluten-free. Various market players are introducing gluten-free products to tap the base of health-conscious consumers or those suffering from celiac disease. Moreover, to meet the growing demand for better and distinct flavors in baking mixes, manufacturers are increasingly coming up with newer flavors. Furthermore, they are progressively incorporating functional ingredients in baking mixes to keep in line with popular dietary trends.
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Segmentation
The global baking mixes market has been segmented based on type and functional use. By type, the global baking mixes market has been segmented into cookie & biscuit mixes, cake & muffin mixes, bread mixes, pancake & waffle mixes, and others. By functional use, the global baking mixes market has been segmented into gluten-free, vegan, organic, sugar-free, paleo and others.
Regional Analysis
By region, the global baking mixes market has been segmented into North America, Asia Pacific (APAC), Europe, and the Rest of the World (RoW). North America is spearheading the global market on account of the existence of a substantial number of key players in the region and high consumer affinity towards baked products. The US is the most important market within the North America market. Increased availability of baking devices in households as most food preparations require baking is also indirectly contributing to the demand for baking mixes. Europe too is an important revenue pocket which is spurred by continuous innovation in the field of baking mixes. The APAC market is likely to be driven by increasing affordability, growing interest towards baking and key players extending their presence in the region. Western influence on the food consumption patterns has induced high demand for baking mixes in the region. However, the market has to develop significantly as a majority of the end users still prefer traditional preparations and also prefer baking cakes using original ingredients.
Competitive Landscape
Betty Crocker (U.S.), Pioneer brand (U.S.), Hungry Jack (Australia), King Arthur Flour (U.S.), Duncan Hines (U.S.), Pillsbury (U.S.), Jiffy (U.S.), and Nestle (Switzerland) are the distinguished players in the global baking mixes market.
Industry Updates
April 2019 - Krusteaz, a foodservice baking mix supplier, launched four new gluten-free products. Yellow Cake Mix, Chocolate Cake Mix, Chocolate Chip Cookie Mix, and Confetti Buttermilk Pancake Mix are the available variants which do not contain any artificial flavoring substance or preservatives.
It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the sugar baking mixes market include United Biscuits, Dr. August Oetker Nahrungsmittel KG, Mondelez International, Inc. Finsbury Food Group Plc, Dunkin' Donuts LLC, Yamazaki Baking Co. Ltd. Barilla Holdings S.P.A., Associated British Foods (ABF) Plc., General Mills, Inc. Rich Product Corporation.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Sugar Baking Mixes Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/sugar-baking-mixes-market/download-sampleMarket DynamicsThe global sugar baking mixes market is forecasted to grow healthy.
The broad range availability of these products and the growing e-commerce of these products are accelerating market growth.
Key players are bringing new products with low cholesterol, fat, and gluten-free, organic, quality, and hand-selected ingredients.
Customers are demanding reduced sugar and reduced-fat products to fit in with the latest nutritional guidelines.The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis.
