Shifting Inclination of Consumers Towards New and Exotic Flavours is Propelling the Growth of the Cake Mixes Market
HYDERABAD, TELANGANA, INDIA, September 27, 2022 /EINPresswire.com/ — IndustryARC, in its latest report, predicts that Cake Mixes Market size is estimated to reach $1.5 billion by 2027, growing at a CAGR of 3.9% during the forecast period 2022-2027. A cake mix is a pre-mixed blend of ingredients that are used to make cakes or other baked goods like bread, pancakes, waffles, muffins, cookies, brownies, pizza dough, biscuits and a variety of other sweets. A cake mix is made up of basic components like flour, bread flour, baking powder, baking soda, yeast, sugar and salts. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
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Key takeaways :
This IndustryARC report on the Cake Mixes Market highlights the following areas –
1. Geographically, North America Cake Mixes Market accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the rise in the demand for cake mixes in the food industry in the North American region.
2. Cake Mixes Market size growth is being driven by the soaring consumption of bakery products owing to a busy lifestyle, changing dietary habits and increased consumption of ready-to-eat and ready-to-cook instant products. However, cake mix is a type of convenient food that contains sugar, salt and saturated fat and therefore intake of these foods on a regular basis can be harmful to health which is one of the major factors hampering the growth of the Cake Mixes Market.
3. Cake Mixes Market Detailed Analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Cake Mixes Market report.
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Segmental Analysis :
1. The Cake Mixes Market based on flavour can be further segmented into Chocolate, Vanilla, Butter scotch, Red Velvet, Caramel, Fruit and Others. The Chocolate Segment held the largest Cake Mixes market share in 2021. This growth is owing to the presence of cocoa which includes beneficial flavonoids, in chocolate flavours. The antioxidants in Chocolate Flavours have a number of health benefits, including “heart-protecting,” “anti-inflammatory,” “brain-stimulating,” and “mood-lifting” properties.
2. The Cake Mixes Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America and Rest of the World. North America held the largest Cake Mixes market share with 35% of the overall market in 2021. The growth of this region is owing to factors such as the presence of major market players as well as their product advancements.
3. The Cake Mixes Market based on the application can be further segmented into Household, Commercial and Others. The Commercial Segment held the largest Cake Mixes market share in 2021. This growth is owing to the commercial use of cake mixes in the food business, attributed to the rising demand from an aging population and increased consumption of ready-to-eat meals ascribed to a hectic lifestyle.
Competitive Landscape :
The top 5 players in the Cake Mixes Industry are –
1. General Mills, Inc.
2. Chelsea Milling Co
3. Continental Mills, Inc.
4. Kerry Group
5. Associated British Foods Plc.
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