A Baking Mix is a pre-mixed formulation ingredient which is widely used for Biscuits, Baking Cakes, Pancakes and Cookies. Along with being convenient to use, Baking Mixes Market reduces preparation times catering to the need of working couples, thereby giving boost to market growth. Furthermore, health conscious consumers are showing inclination towards clean label and organic products, hence demand for organic baking mixes have grown significantly.
In addition, growth in organized retailing system and e-commerce has made the product easily accessible to consumers, thereby supporting the market growth. Furthermore, increasing health awareness regarding celiac disease has accelerated the demand for free-from products such as gluten free baking mixes, globally. Changing consumption patterns and rising globalization are likely to enhance the market growth at an incremental pace. Also, effective promotional strategy coupled with novel product launches in different flavors will continue to support the market in upcoming years.
Attractive packaging design and customization of product as per consumers’ needs provide huge opportunities to the key players for market expansion. Increasing urbanization and growth in female workforce are other key factors supporting the market growth. The product is usually priced reasonably, however consumers are not shying away from purchasing premium priced products. Consumers’ are showing more interest in knowing what goes in their product and are more inclined towards buying quality products. Therefore, a surge in the demand for premium range baking mix products has been observed in recent years.
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Key Players Strategy
The key players profiled in the report are Pillsbury (U.S.), Nestle (Switzerland), Pioneer brand (U.S.), Betty Crocker (U.S.), Duncan Hines (U.S.), Hungry Jack (Australia), King Arthur Flour (U.S.) and Jiffy (U.S.) among many others.
A surge in new entrants in global baking mixes market has been observed as the market is growing significantly. Therefore, the competition in the market is expected to intensify in coming years. The food lifestyle of consumers is evolving swiftly; henceforth key manufacturers are launching novel products catering to the needs of the consumers. For instance, Unilever launched chilled liquid cake mix targeting consumers who have limited time for cooking and are looking for quick, easy, and convenient option. Aggressive promotional activities by key manufacturers have increased awareness about products’ availability among consumers and thereby supporting the company in increasing consumer base. Furthermore, with the advent of social media, manufacturers are able to target the right audience owing to age targeting features of social media which is likely to give an impetus to market growth.
Latest Industry Updates
ADM Milling which is a part of Archer Daniels Midland Company launched new multi-seed bread mix.
Bob’s Red Mill introduced breakfast mixes, namely protein pancake and waffle mix and grain-free paleo pancake and waffle mix.
Unilever introduced ready-to-bake liquid cake mixes under its Stork brand. The product consists of three varieties, namely; chocolate, lemon, and classy.
Foodstirs introduced Organic Sunday Pancakes Mix. The product is made from chemical-free ingredients.
Bakels launched bread mix targeting health conscious individual consumers who prefer to bake their own bread.
Global Baking Mixes Market is segmented into Type, Claim, Target Market, Distribution Channel, and Region
Based on Type- Bread Mixes, Cookie & Biscuit Mixes, Cake & Muffin Mixes, Pancakes & Waffle Mixes, and Others
Based on Claim- Sugar-free, Gluten-free, Vegan, Organic and Others
Based on Target Market- Residential, and Institutional
Based on Distribution Channel- Store Based, and Non-Store Based
Based on Region- North America, Europe, Asia-Pacific, and ROW
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