The unprecedented COVID-19 pandemic has affected the global economy to a great extent. Considering the food industry, one of the most important sectors of the economy, a tremendous impact has been witnessed on the entire process from the field to the consumer. The restrictions in the movement of workers, closure of food production facilities, and changes in consumer demand have put excessive pressure on the food industry.
The report offers actionable and valuable market insights of Baking Mixes. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Baking Mixes Market across various industries and regions.
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Global sales of baking mixes to reach US$ 9.5 Bn by the end of the 2021-2031 assessment period. The market experienced a Y-o-Y increase of 3.9% in 2021 over 2020, up from US$ 5.4 Bn to reach US$ 5.66 Bn. Overall, the industry is projected to expand 1.7x until 2031.
|Market Size (2021)||US$ 5.66 Bn|
|Value CAGR (2021-2031)||5.3% CAGR|
|Market Size (2031)||US$ 9.5 Bn|
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Baking Mixes market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Baking Mixes
This newly published and insightful report sheds light on Market Insights of Baking Mixes, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Baking Mixes Market.
Key Segments Covered
· Product Type
- Cakes and Pastries
- Biscuits and Cookies
- Pizza Dough
- Muffins and Brownies
- Other Bakery Products
· Distribution Channel
- Modern Trade
- Departmental and Traditional Grocery Store
- Convenience Stores
- Online Channels
- Other Retail Formats
Companies in the baking mixes industry are focused on product innovation and development. Large food corporations with R&D facilities are working hard to create a new range of baking mixes. This comprises baking mixes that fulfill dietary needs, new-age consumer eating habits, decreased sugar content, non-dairy, and zero rising agents.
- In October 2021, Cargill Inc. introduced its SimPure 92260 soluble rice flour, exhibiting similar taste, texture and functionality as maltodextrin, an ingredient commonly used as a bulking agent and flavor carrier, rendering it suitable for applications in reduced-sugar bakery products, snacks, cereals & bars, powdered beverages and convenience foods
- Likewise, in January 2021, General Mills Inc. debuted 5 new bakery products in its Betty Crocker brand. These include the New Dunkaroos Frosting, Reese’s Pieces Surprise Cupcake Kit, the Hershey’s Kisses Blossom Cookie Kit, Giant Cookie Kit and Lemon Cookie Mix respectively.
- In 2019, a new range of baking mixes by Trader Joe’s- the Maple Pecan Cookie and Baking Mix, Cinnamon Crumb Coffee Cake and Pumpkin Chocolate Chunk Oatmeal Cookie Mix were introduced. These mixes are highly simple, appropriate for people craving freshly baked bakery products in record time
Future market demand is reliant on the ever widening popularity of gluten-free bakery products. Studies suggest that worldwide incidence of celiac disease, or gluten intolerance affects between 0.5% and 1% of the general population. This rate is the highest across Asia, at 1.8%. Hence, manufacturers are introducing mixes which either have low or no gluten in them.
Key Takeaways from the Market Study
- By 2031, the bread baking mixes are expected to generate over US$ 2.7 Bn in sales
- Modern trade is expected to contribute for approximately 33% of total baking mix sales
- Surging health consciousness boosting gluten-free baking mixes sales in the U.S, registering a 5% CAGR
- U.K to emerge as the fastest growing baking mixes market, clocking a CAGR of 6.5% through 2031
- Global baking mixes industry to be valued at US$ 5.66 Bn in 2021
“Growing desire for organic and clean label baked goods is likely to generate profitable development possibilities for baking mix makers. Substantial investments in R&D activities, followed by the creation of new products, are significant opportunities for baking mix manufacturers,” says a Fact.MR analyst.
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