Cake Mix Market Trends, Category by Type, Top Companies, and Forecast 2032
Cake Mix Market Overview
The global cake
mix market is mainly driven by the growing awareness regarding the various
product variations on offer in the market today. The global cake mix market has
grown readily over the last few decades due to the growing demand for cakes and
the increasing interest in home baking. The growing interest in bakery products
in emerging regions is likely to be a major driver for the global cake mix
market over the forecast period. Comfort foods such as cakes are likely to rise
in demand over the forecast period, particularly in urban areas in emerging
countries, where cakes are not a traditional part of the cuisine and have thus
become all the more popular due to their novelty.
The growing innovation in packaged foods to produce
long-lasting products is likely to benefit the global cake mix market over the
forecast period. As cake mixes are completely dry, they can be stored for a
long time, thus catering to the customers’ need for food that lasts for a long
time and can be prepared relatively quickly. This is likely to be a major
driver for the global cake mix market over the forecast period due to the
growing volume of the urban demographic looking for long-lasting convenience
food.
Competitive Analysis:
The global cake mix key market players include General Mills
Inc., Associated British Foods plc, Kerry Group plc, Chelsea Milling Co., Miss
Jones Baking Co., Dr. August Oetker AG, Dawn Food Products Inc., Hain Celestial
Group Inc., Archer Daniels Midland Company, and Pinnacle Foods Inc.
The threat of salmonella poisoning has reared its head in
the global cake mix industry in recent years. In November 2018, Conagra issued
a recall of four types of cake mix from Duncan Hines due to the risk of
salmonella poisoning. In March 2019, some Pillsbury flour packages were
recalled for fear of salmonella contamination.
Segmentation:
The global cake mix market is segmented on the basis of
type, flavor, distribution channel, and region.
By type, the cake mix market is segmented into angel food
cake, layer cake, flourless or low-flour cake, chiffon cake, cupcake, mug cake,
and others. The cupcake segment held the largest market share in 2017; however,
the angel food cake segment is likely to exhibit a robust growth rate during
the forecast period.
By flavor, the cake mix market is segmented into chocolate,
vanilla, and others. Chocolate was the leading flavour in 2017 and is likely to
retain its dominance through the forecast period due to its widespread
popularity.
Distribution channels in the cake mix market size include
store-based and non-store based. Store-based distribution dominated the cake
mix market in 2017, but could fall by the wayside by 2023 due to the emergence
of online shopping channels as reliable distribution channels for cake mix
manufacturers.
Regional Analysis:
Cake
mix market in North America holds the dominant share in the global market
due to the widespread demand for cake products in the region, the longstanding
popularity of cake in the region, and the presence of several leading market
players in the region. On the other hand, Asia Pacific is likely to exhibit the
fastest growth over the forecast period due to the growing demand for cakes,
which are still considered a novelty item in much of Asia Pacific.
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