Global Pancake Mixes Market Overview
Pancake Mixes Market Size was estimated at 5.64 (USD Billion) in 2022. The Pancake Mixes Market Industry is expected to grow from 5.87(USD Billion) in 2023 to 8.4 (USD Billion) by 2032. The Pancake Mixes Market CAGR (growth rate) is expected to be around 4.07% during the forecast period (2024 - 2032).
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Key Pancake Mixes Market Trends Highlighted
A few crucial forces are supporting the growth of the pancake mixes market. There is an escalating demand for quick and easy breakfast options in cities, along with changing lifestyles, and this is a major market driver. In addition, consumers are becoming more health conscious and are searching for organic pancake mixes as well as options that are low-carb or gluten-free.
The growing demand for value-added flavors such as buttermilk, chocolate chip, and blueberry creates room for market expansion. Besides, the availability of online stores and the use of subscription services have broadened the scope of the places where pancake mixes can be purchased.
Some of the modern market conditions include the high consumption of organic and non-GMO ingredients in pancake mixes as customers are becoming more health conscious. In addition, manufacturers are launching novel packaging formats and outreach measures to consumers to boost sales.
Pancake Mixes Market Drivers
Rising Demand for Convenience Foods
In today’s fast-moving consumer environment, due to high-loaded lifestyles, people prefer using convenience foods more than ever. A convenience food product is a product that is designed to save time on meal preparations. As far as pancake mixes are concerned, people can receive an appropriate product without the necessity to measure and mix it. That has made pancake mixes a highly demanded product in the Pancake Mixes Market Industry.
Growing Popularity of Breakfast Cereals
In the modern world, breakfast cereals have become massively popular and many people now choose them over other types of food. They are quick to eat and convenient to consume, providing consumers with all the necessary nutrients, which traditionally makes them an excellent option for a quick, everyday breakfast. Still, pancake mixes offer an even tastier and more indulgent variation of cereals. That is why more and more people are now choosing pancake mixes to meet their need for a lovely, filling, and delicious breakfast.Such a change in consumer preference has a positive impact on the Pancake Mixes Market Industry.
Expansion of the Foodservice Sector
The foodservice sector has expanded rapidly in recent years, fueled by the growing popularity of dining out. Pancake mixes have become an essential ingredient in the menus of restaurants, cafes, and other foodservice establishments. The versatility of pancake mixes allows them to be incorporated into various breakfast, brunch, and dessert items, catering to the diverse needs of customers. The growth of the foodservice sector has created a significant demand for pancake mixes, driving the growth of the Pancake Mixes Market Industry.
Pancake Mixes Market Segment Insights
Pancake Mixes Market Product Type Insights
The Pancake Mixes Market is divided into three types of products. The dry mixes are the most popular type, owning over two-thirds of the market share. They are produced from flour, sugar, baking powder, and salt. As the name implies, they need to be mixed with water or milk, like other pancake mixes, before being cooked. Liquid mixes are composed of a pre-made batter, which also contains flour, milk, eggs, and sugar. The final type of pancake mixes is the frozen mix, which is also produced with a pre-made batter. The batter is sifted into the preferred size of pancakes and then frozen.Before cooking, it should be thawed in the refrigerator. Despite the fact that the dry mixes have a higher market share, the liquid mixes are expected to demonstrate a higher growth rate, which is 4.22% from 2021 to 2032. The dry mixes segment is anticipated to continue to be the largest segment of the market for the duration of the forecast period, which will be 4.79% from 2024 to 2032. The growth rate of the frozen mixes is expected to be the lowest of the three segments. On the whole, in 2023, the value of the pancake mixes market is expected to be USD 5.87 billion.The major benefits impacting the growth of the market are the growing number of working women, the status of pancakes in the lineup of typical breakfast offerings, and the desire to develop the demand for convenience foods.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Pancake Mixes Market Flavor Insights
The Flavor segment plays a crucial role in shaping the Pancake Mixes Market dynamics. Buttermilk, a classic flavor, is projected to account for a significant market share due to its versatility and nostalgic appeal. Chocolate Chip, another popular choice, is expected to witness steady growth driven by its indulgent taste and appeal to children. Blueberry, known for its sweet and fruity notes, is gaining traction among health-conscious consumers. Maple, a traditional flavor, is anticipated to maintain a stable market share due to its distinct and authentic taste.Other flavors, including strawberry, banana, and pumpkin spice, are also expected to contribute to the overall market growth. Market data indicates that the Pancake Mixes Market revenue is poised to reach $6.2 billion by 2024, exhibiting a steady growth trajectory.
Pancake Mixes Market Packaging Insights
The packaging segment of the Pancake Mixes Market is broadly classified into boxes, bags, and pouches. Among these, boxes held the largest market share in 2023, accounting for nearly half of the Pancake Mixes Market revenue. The dominance of boxes can be attributed to their ability to provide superior protection against moisture and oxygen, ensuring the freshness and quality of the pancake mix. However, bags and pouches are gaining popularity due to their cost-effectiveness, flexibility, and lightweight nature. The Pancake Mixes Market segmentation by packaging provides valuable insights into the performance of different packaging types, helping manufacturers make informed decisions to optimize their product offerings and cater to evolving consumer preferences.
Pancake Mixes Market Distribution Channel Insights
The distribution channel segment plays a crucial role in the growth of the Pancake Mixes Market. Supermarkets and hypermarkets dominate the market. These stores offer a wide variety of pancake mixes from different brands, providing consumers with ample choices. The convenience of one-stop shopping and the availability of various promotions and discounts further drive sales through this channel. In 2023, supermarkets and hypermarkets accounted for approximately 55% of the Pancake Mixes Market revenue. Convenience stores are another significant distribution channel, capturing around 25% of the market share.The easy accessibility and extended hours of operation make convenience stores a preferred choice for quick purchases. Online retailers have emerged as a rapidly growing distribution channel for pancake mixes. The convenience of home delivery and the ability to compare prices and products from multiple sellers have contributed to the surge in online sales. In 2023, online retailers held a market share of approximately 15%, and this segment is projected to grow steadily in the coming years. The foodservice channel, including restaurants, cafes, and hotels, accounts for the remaining market share.Pancake mixes are commonly used in the foodservice industry for breakfast and brunch offerings. The increasing popularity of breakfast-themed restaurants and the demand for convenient and cost-effective options have supported the growth of pancake mixes in this channel.
Pancake Mixes Market Target Consumer Group Insights
The target consumer group for pancake mixes is diverse, encompassing various demographics with unique preferences and lifestyle choices. Families, millennials, Generation Z, and health-conscious consumers represent key segments within the Pancake Mixes Market, each driving demand and market growth. Families with young children are a significant consumer group, as pancakes are a popular and convenient breakfast option. The convenience and affordability of pancake mixes make them an attractive choice for busy families. Millennials, known for their on-the-go lifestyles, also contribute to the demand for pancake mixes due to their quick and easy preparation.They seek convenient and flavorful options that fit their fast-paced routines. Generation Z, the emerging consumer group, is increasingly health-conscious and seeks nutritious and convenient food options. Pancake mixes that offer added nutrients, such as whole grains or protein, appeal to this segment. Health-conscious consumers, regardless of age group, are driving demand for pancake mixes that cater to their dietary needs. Gluten-free, low-carb, and sugar-free options are gaining popularity in this segment. By understanding the specific preferences and needs of each target consumer group, manufacturers can tailor their products and marketing strategies to effectively capture market share.This segmentation allows for targeted marketing campaigns and product development that resonates with each group, ultimately contributing to the overall growth of the Pancake Mixes Market.
Pancake Mixes Market Regional Insights
The regional segmentation of the Pancake Mixes Market presents diverse market dynamics and growth opportunities. North America holds a significant share of the market, driven by the high consumption of pancakes as a breakfast staple and the presence of major food processing companies. Europe follows closely with a sizable market share, influenced by the popularity of pancake mixes in countries like the United Kingdom, Germany, and France. The Asia-Pacific (APAC) region is anticipated to exhibit substantial growth potential, fueled by rising disposable income and changing food habits in countries such as China, India, and Japan.South America and the Middle East and Africa (MEA) regions are expected to contribute a smaller yet growing share of the market, owing to increasing urbanization and the adoption of Western food trends.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Pancake Mixes Market Key Players And Competitive Insights
Major players in the Pancake Mixes Market are constantly striving to gain a competitive edge by introducing innovative products and expanding their distribution channels. Leading Pancake Mixes Market players are focusing on product development to cater to the evolving preferences of consumers. The Pancake Mixes Market industry is characterized by intense competition, with a number of well-established players vying for market share. These companies are investing heavily in research and development to create new and improved products, as well as expanding their distribution networks to reach a wider consumer base. The Pancake Mixes Market Competitive Landscape is expected to remain highly competitive in the coming years, with continued innovation and expansion by key players.General Mills, a leading company in the Pancake Mixes Market, has a strong brand portfolio that includes well-known brands such as Bisquick and Aunt Jemima. The company has a wide distribution network that reaches supermarkets, grocery stores, and mass merchandisers across the globe. General Mills is also focusing on product innovation, with the recent launch of new products such as Bisquick Complete Pancake Mix, which contains protein and fiber. The company is also expanding its international presence, with recent acquisitions in Latin America and Asia.Kellogg Company is another major player in the Pancake Mixes Market, with a strong portfolio of brands such as Eggo and Krusteaz. The company has a wide distribution network that reaches supermarkets, grocery stores, and mass merchandisers across the globe. Kellogg Company is also focusing on product innovation, with the recent launch of new products such as Krusteaz Protein Pancake Mix, which contains 10 grams of protein per serving. The company is also expanding its international presence, with recent acquisitions in Latin America and Asia.
Key Companies in the Pancake Mixes Market Include
- The Hershey Company
- Bob's Red Mill Natural Foods, Inc.
- Roland Foods, LLC
- Kellogg Company
- Kerry Group
- General Mills
- Ferrara Candy Company
- The Hain Celestial Group, Inc.
- Dawn Food Products, Inc.
- M. Smucker Company
- Post Holdings, Inc.
- Conagra Brands, Inc.
- Oetker
- B Foods, Inc.
Pancake Mixes Market Industry Developments
The pancake mixes market is projected to reach USD 8.4 billion by 2032, exhibiting a CAGR of 4.07% during the forecast period. Increasing demand for convenience foods, changing lifestyles, and rising disposable income are major factors driving market growth. Product innovation and the introduction of new flavors and varieties by key players are also contributing to market expansion. The market is characterized by the presence of both regional and players, with a mix of established brands and emerging startups. Recent developments include the launch of gluten-free and organic pancake mixes, as well as collaborations between manufacturers and retailers to offer value-added products. The market is expected to continue to grow in the coming years, driven by increasing urbanization and the growing popularity of breakfast cereals and convenience foods.
Pancake Mixes Market Segmentation Insights
- Pancake Mixes Market Product Type Outlook
- Dry Mixes
- Liquid Mixes
- Frozen Mixes
- Pancake Mixes Market Flavor Outlook
- Buttermilk
- Chocolate Chip
- Blueberry
- Maple
- Other
- Pancake Mixes Market Packaging Outlook
- Pancake Mixes Market Distribution Channel Outlook
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Retailers
- Foodservice
- Pancake Mixes Market Target Consumer Group Outlook
- Families
- Millennials
- Generation Z
- Health-Conscious Consumers
- Pancake Mixes Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
5.64(USD Billion) |
| Market Size 2023 |
5.87(USD Billion) |
| Market Size 2032 |
8.4(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
4.07% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
The Hershey Company, Bob's Red Mill Natural Foods, Inc., Roland Foods, LLC, Kellogg Company, Kerry Group, General Mills, Ferrara Candy Company, The Hain Celestial Group, Inc., Dawn Food Products, Inc., J. M. Smucker Company, Post Holdings, Inc., Conagra Brands, Inc., Dr. Oetker, B Foods, Inc. |
| Segments Covered |
Product Type, Flavor, Packaging, Distribution Channel, Target Consumer Group, Regional |
| Key Market Opportunities |
1.      Growing health consciousness 2.      Innovative flavors 3.      Glutenfree and organic options 4.      Convenience and timesaving 5.      Ecommerce penetration |
| Key Market Dynamics |
1.      Increased focus on convenience 2.      Growing popularity of homemade breakfast 3.      Expansion of retail distribution channels 4.      Increasing demand for glutenfree and organic options 5.      Rising consumer awareness of health and wellness |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Pancake Mixes Market is expected to reach 8.4 Billion USD by 2032.
The Pancake Mixes Market is projected to grow at a CAGR of 4.07% from 2024 to 2032.
North America is expected to hold the largest market share in the Pancake Mixes Market in 2032.
The growing demand for convenience foods, the increasing popularity of breakfast cereals, and the rising disposable income in developing countries are some of the key factors driving the growth of the Pancake Mixes Market.
General Mills, The J.M. Smucker Company, Conagra Brands, and Post Holdings are some of the key competitors in the Pancake Mixes Market.
Pancake mixes are primarily used for making pancakes, but they can also be used to make waffles, muffins, and other breakfast foods.
The rising cost of raw materials and the increasing competition from other breakfast food options are some of the challenges faced by the Pancake Mixes Market.
The growing demand for gluten-free and organic pancake mixes and the increasing popularity of online grocery shopping are some of the opportunities for the Pancake Mixes Market.
The trend towards healthier eating and the increasing popularity of convenience foods are some of the trends shaping the Pancake Mixes Market.
The Pancake Mixes Market is expected to continue to grow in the future, driven by the growing demand for convenience foods and the increasing popularity of breakfast cereals.
