Cake Mix Market Forecast with Investment, Key Driven, Gross Margin, Regional Demand
Market Scenario
The global Cake Mix Market 2021 is
projected to reach approximately USD 1.5 Billion by 2028 and mature
at a notable CAGR of 3.83% through the review period (2021-2028).
Market Dynamics
Over the recent years , the worldwide
demand for cake mix has seen a huge growth in its scale and price. Consumers '
growing discretionary income has allowed them to spend unrestrained on pleasing
their taste buds, mirrored in the increasing market for cakes and, accordingly,
the worldwide cake mix. This demand is also significantly driven by the fact
that cake mix is easy to prepare and drink. The launch of sugar-free and
low-fat cake mix has a huge effect on this market, which is projected to propel
it to develop a faster pace over the coming years. Diverse factors influence
the growth of the global cake-mix industry. A change in consumer preferences
and growing demand for convenience foods are helping a global initiative to
expand the cake mix industry. Consumers' hectic and high speed lifestyle drives
the appetite for a cake mix. Moreover, the product 's long shelf-life is
observed to sustain market growth. Price advertisements have also added to the
price 's positive sales. One of the future prospects for manufacturers of cake
mixes to ensure good sales growth is strong investment in R&D activities
followed by the production of new products. With the growing development of
cake mix with a high nutritious value and with no allergens, this market's
growth potential is expected to see a dramatic increase in the near future.
Besides that, the substantial growth in the working population of women and
their busy lifestyle is also projected to fuel the global cake
mix sales market demand over the coming year.
Competitive Dashboard
Conagra Brands, Inc (US), Continental Mills
Inc (US), Hain Celestial Group, Inc (US), Simple Mills, Inc. (US), Chelsea
Milling Co. (US), Miss Jones Baking Co (US), Bob's Red Mill, Natural Foods,
Inc. (US), Associated British Foods plc (UK), Mondelez International (US), Dr.
Oetker (Germany), Stonewall Kitchen (US), Keto and Company (US), General Mills,
Inc (US), Pioneer Brand (US), and Foodstirs, Inc. (US) are some of the key
players in the global market.
Segmentation
The Global Cake
Mix Market analysis has been segmented based on Type, Distribution
Channel, and Region.
In terms of the type, the cake mix market revenue
has been classified as angel food cake, layer cake, flourless or low-flour
cake, chiffon cake, cupcake, mug cake, and others.
In terms of flavor, the global market has
been classified as vanilla, chocolate, and others.
Based on distribution channel, the market
has been classified as store-based and non-store-based. The store-based segment
is also sub-segmented into convenience stores, supermarkets and hypermarkets,
and others.
Regional Overview
The global cake mix industry was analyzed
in four main regions — North America, Europe , Asia-Pacific and the rest of the
world.
North America accounts for 48.60 per cent
of global market share in 2017 and is predicted to lead the cake mix market size
over the projected timeframe. Wide presence of core cake mix players in the US
is expected to fuel business growth. Continuous product releases and robust
advertising campaigns to build customer recognition fuel the growth of the
demand for cake mixes in North America. Europe will also have the global cake
mix market share with Germany, the UK and France to be major contributing
country in this region. Increasing demand among the working population for
convenient bakery items is driving the growth of the cake mix in this area
mainly. However, in the forecast era Asia-Pacific is expected to experience the
highest CAGR. Increasing bakery food demand gives the cake mix manufacturers
tremendous potential to launch new products in this market. Manufacturers
launch cake mixes in different flavours to win the lucrative market share in
the Asia-Pacific region.
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