October, 2022 /press release/- Market Research Future Published a Half-Cooked Research Report on Baking Mixes Market Research Report.
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 2023-2032. 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.
The global baking mixes market has been segmented based on type and functional use. By type, the market has been segmented into cookie & biscuit mixes, cake & muffin mixes, bread mixes, pancake & waffle mixes, and others. By functional use, the market has been segmented into gluten-free, vegan, organic, sugar-free, paleo and others.
North America, Europe, Asia Pacific and rest of the World (RoW) are the key markets for baking mixes. North America is the largest market for baking mixes followed by Europe. High disposable income, the popularity of baking mixes and the presence of key players in the region fuel the growth of the North America market. The US is the key contributor to the North America baking mixes market. Europe market is driven by growing innovation in the field of baking mixes. Asia Pacific market is expected to exhibit moderate growth over the forecast period on account of growing popularity of baking mixes in the region. High disposable income, affinity for baking products and increased affordability support the growth of the market in Asia Pacific.
Duncan Hines (U.S.), Jiffy (U.S.), Betty Crocker (U.S.), Pillsbury (U.S.), Pioneer brand (U.S.), King Arthur Flour (U.S.), Hungry Jack (Australia), and Nestle (Switzerland) are the notable players operating in the global baking mixes market.