Cake Mix Market– Overview:
Cake mixes are gaining significant demand from the consumer end due to the convenience offered by the products. Market reports related to the food, beverage and nutrition industry have been presented by Market Research Future which creates reports on other industry verticals that outlines the current market scenarios. The market is anticipated to display brilliant CAGR growth in the forecast period.
Cake Mix Market Size was valued at USD 1.2 Billion in 2022. The cake mix market industry is projected to grow from USD 1.24 Billion in 2023 to USD 1.683 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.83% during the forecast period (2023 - 2032).
The rising popularity of convenience products such as cake mixes has increased with the rise in the urban lifestyle trend. The easy availability of ingredients in the right proportions is a major factor increasing the market’s progress. The relatively longer combined shelf life of the ingredients in cake mixes as opposed to the same ingredients in their entirety is also tipping the scales in favor of the escalating demand for cake mixes especially in urban areas.
Segmentations:
The segmentation of the cake mix market is carried out on the basis of cake type, flavour, specialty diet and region. On the basis of cake type, the market comprises of Layer Cake, Flourless Chocolate Cake, Shortened Cake, Pound Cake, Flourless or Low-Flour Cake, Foam and Sponge Cakes, Unbaked Cake, Tortes, Yeast Cakes, Cup Cakes and Others. On the basis of flavour, the cake mix market comprises of chocolate, vanilla, strawberry, red velvet, caramel, butter scotch, fruits, lemon, and others. On the basis of specialty diet, the market comprises of Low-Sodium, Low-Fat, Fat-Free, Cholesterol-Free, Sugar-Free, Gluten-Free and Others. The regions that are studied in the cake mix market are Europe, North America, Asia Pacific, and rest of the world (ROW).
Detailed Regional Analysis:
The cake mix market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). The North American region has the main market portion followed by the European region. Growing demand of bakery products amongst the emerging countries of the North American and European region is backing up the development of cake mix market. Countries such as Germany, China, U.K., U.S. and Netherlands are the main importers of cake mix.
Competitive Landscape:
The framework for growth plans also has inspired the market for potential new entrants. The market competitors are making considerable adjustments to minimalize the incidence of competitive disadvantage. The leadership trends in the market are reinforcing the level of growth that can be realized in the present market scenario. The market is also well equipped to meet the challenges and keep up with the dynamic growth trends effectively. The alterations seen in terms of strategy execution and creation are modifying the development pace of the market. The plan formulation process in the market has become meaningfully easier in which deviations are well accounted for; this approach surges the overall success of these plans in the market. The evolution patterns are revised in tandem to the customer likings to realize abundant growth, and in the long run, viability.
The important competitors Key Cake Mix Market Players are Pillsbury (U.S.), ArrowheadMills (U.S.), Krusteaz (U.S.), The French Cake Company (France), Italdecor (Italy), Sudem Cake Mix and Products A.S. (Turkey), RMIX Alimentos SaudáveisLtda (Brazil), Pinnacle Foods Inc (U.S.), Ghirardelli Chocolate Company (U.S.).
Industry Updates:
Jan 2018 CSM Bakery Solutions has revamped its range of Craigmillar Cake Mixes. The refreshed line-up includes Chocolate Crème Cake Mix, Chocolate Cake Mix, Farmhouse Cake Mix, Complete Sponge Mix, Plain Crème Cake Mix, Madeira Cake Mix, and Rich Celebration Cake Mix. The move the need to be updated with market trends and product demands is the main reason behind the change. The new sponge mixes have increased volume and size and are self-levelling.
Aug 2018 Dawn Foods has launched a range of American Style Layer Cake Mixes which is available in three flavours. The new mixes facilitate bakers to make American style layer cakes in Chocolate, White and Vanilla flavours. The Vanilla and Chocolate varieties combine natural flavours with a formula that delivers even layers and volume.
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