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.
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Global Baking Mixes Market – Competitive Analysis
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.)
- In March 2018, CAULIPOWER, US-based frozen pizza brand launched the first-ever vegetable-based flour and baking mixes. The mixes are available in two varieties on Amazon.com.
- In October 2018, Krusteaz, a premium manufacturer of baking, pancake and waffle mixes, announced the expansion of baking mix line by introducing gluten-free products. The new products would bring more versatility to Krusteaz line of mixes.
- In October 2018, Motha Confectionary Works (Pvt) Ltd., Sri Lanka’s leading producer of baking ingredients and beverages, expanded their product line by the introduction of a novel range of baking mixes. The baking mixes are available in two flavors; mint chocolate and almond chocolate.
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.