Competitive Landscape: —
The Global Baking Mix Market, as described in MRFR report, includes influential companies such as Jiffy (U.S.), Duncan Hines (U.S.), Hungry Jack (Australia), Pillsbury (U.S.), Betty Crocker (U.S.), King Arthur Flour (U.S.), Pioneer brand (U.S.), and Nestle (Switzerland). The market is getting huge traction from strategic implementations encouraged by these companies. These moves include merger, acquisition, product launch, innovation, and many other methods. The market is quite competitive, yet, a lot of scope is there for new entrants to seek prospect.
In April 2019, Krusteaz, a name to reckon with in baking industry, launched four new gluten-free products, Chocolate Cake Mix, Chocolate Chip Cookie Mix, Yellow Cake Mix, and Confetti Buttermilk Pancake Mix. These new products would increase the value of their already existing product line-up and would lure in buyers who are health conscious and believe in a perfect blend of taste and health in their foods.
The Global Baking Mix Market, as discussed in the report of the same by Market Research Future (MRFR) is expected to achieve 3% CAGR during the forecast period (2016-2022). Baking mix is gaining popularity owing to its ability to save time and simplify work process. It is a simple pre-mixed formulation containing ingredients in needed ratio that finds application in the making of cakes, pancakes, and cookies. The product is a blend of mostly flour, baking powder, baking soda, yeast, sugar, salt, and others.
Easy availability, time-saving procedures, and hassle-free execution are factors that is expected to trigger the market in the coming years. The product is gaining widespread popularity among the youngsters owing to which its growth is becoming significant in the home sector. At the same time, several ready-to-go food providers are popping up who are providing traction to the market.
On the flip side, use of chemicals could restrict the expected market growth as more and more people are now getting concerned regarding their health and rejecting products that contain chemicals and added preservatives.
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The Global Baking Mix Market, as per the regional analysis of MRFR, spans across North America, Europe, Asia Pacific and Rest-of-the-World (RoW). Their volume-wise and value-wise surge analysis would reveal important growth pockets that can take the market forward in the coming years.
The popularity of baking mixes, high-level of disposable income, and the food choices that mostly rely on baking mixes for end-products are responsible in making North America the leader of the global market. The huge population, and the presence of the U.S. are effective reasons that are bolstering the market growth in the region. Europe is also experiencing similar kind of prospect. The tendency to consume bakery and confectioneries in countries such as Germany, Italy, Spain, and the U.S. are quite high that could steer the market forward. Innovation is also the key for long sustenance.
The APAC market is expecting a moderate growth. However, huge population and growing trend of opting for ready-to-go food are percolating sectors owing to which the market can gain more. High disposable income, increasing affinity for baking products and easy affordability are factors that would support the market growth.
MRFR’s analysis of the Global Baking Mix Market is strongly founded upon a segmentation by Type and Functional Use. The segmentation would provide an easy access to the market in depth and help in understanding the coming years.
Based on the Type
• Cookie & biscuit mixes
• Cake & muffin mixes
• Bread mixes
• Pancake & waffle mixes
The pancake & waffle mixes segment is growing due to its popularity among the young generation as a good breakfast product or snack item. The Bread mixes segment is getting traction due to the worldwide popularity of food items such as sandwiches and burgers.
Based on the Functional Use
Rising health-concerns are providing substantial market thrust to gluten-free, organic, and sugar-free segments. At the same time, growing number of vegans across the globe is contributing largely to the expansion of the vegan segment.
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