As per the analysis of Market Research Future (MRFR), the global baking mixes market continues to experience positive growth and is expected to grow at a compound annual growth rate of approximately 3% over the forecast period of 2016-2022. One of the preliminary factors driving the growth of the Global Baking Mixes Market is the recent trend of home-based baking. Growing consumer awareness regarding packaged food and consumer preference towards homemade food products has given rise to the trend of home-based baking. Easy availability is another factor fuelling the growth of the baking mixes market. Baking mixes are readily available in grocery stores and supermarkets which is the preferred choice of time-pressed consumers. Moreover, baking mixes are an easy way to quickly bake cakes without much of hassles, the popularity of which has been accelerated with the introduction of mug cake mixes. Encouraged by the popularity of baking mixes, manufacturers are experimenting with new blends and offering baking mixes in various flavors. Innovations and developments in ingredients have also impacted market growth. Introduction of novel varieties such as gluten-free baking mixes has made them popular among health-conscious consumers. However, the growth of the market might be hampered by consumer dissatisfaction. Besides, baking mixes contain added preservatives and are averted by health-conscious consumers.
- Baking mixes manufacturers sell products through retail and e-commerce
- Top five exporters of baking mixes are U.S., France, Germany, Canada and Belgium
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Global Baking Mixes Market – Competitive Analysis
With diverse product range and increasing awareness among consumers towards baking mixes is driving the market growth. With the entry of new industry players in the baking mixes segment, a trend of solid, volume-driven growth has been observed in the market. At present, there are limited numbers of large and small market players. Price, quality, product differentiation, distribution, and promotion are the major factors on which industrial players compete to maintain their market share. Industrial players are extensively investing on R&D, new product development and strategic partnerships. Industrial players in order to sustain and succeed in a competitive environment, look for product differentiation along with cost savings through a unique and clear value proposition. Industrial players are extensively investing on marketing activities in order to make strong brand image of their products and also to create awareness along with keeping strong focus on product packaging creating brand value.
The key players profiled in baking mixes are as-
- Pillsbury (U.S.)
- Nestle (Switzerland)
- Pioneer brand (U.S.)
- Betty Crocker (U.S.)
- Duncan Hines (U.S.)
- Hungry Jack (Australia)
- King Arthur Flour (U.S.)
- Jiffy (U.S.)
Global Baking Mixes Market – Segments
The Global Baking Mixes Market has been divided into Type, Function, and Region.
On the Basis of Type
- Cookie & Biscuit Mixes
- Cake & Muffin Mixes
- Bread Mixes
- Pancake & Waffle Mixes
On the Basis of Function
- Gluten Free
Global Baking Mixes Market – Regional Analysis
The global baking mixes market is segmented into North America, Europe, APAC, and Rest of the World (RoW). The global baking mixes are highly dominated by North America owing to high consumption of baking mixes in daily consumption. Additionally, bakery and confectionary products have shown tremendous application of baking mixes in the U.S. Asia Pacific region is fastest growing region due to shifting lifestyle, demographic trends, and improved disposable income in that region. The consumption of baking mixes in developing counties like India, Brazil and China is expected to rise in the near future. The U.S. accounted for highest market share in the baking mixes by Australia. Major baking mixes companies are looking at Europe and APAC as potential regions for investments owing to potential demand from the consumers of these regions.
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- Baking mixes manufacturers
- Retailers and wholesalers
- Traders, importers and exporters