IMARC Group, a leading market research company, has recently releases a report titled “Cake Mixes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” The study provides a detailed analysis of the industry, including the global cake mixes market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the cake mixes market?
The global cake mixes market size reached US$ 1.51 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1.67 Billion by 2028, exhibiting a growth rate (CAGR) of 3.40% during 2023-2028.
What are Cake Mixes?
The cake mix refers to the production and distribution of pre-packaged mixes used to create cakes quickly and conveniently. Cake mixes offer a convenient solution for home bakers and professionals alike, allowing them to easily prepare cakes with consistent results and minimal effort. It includes pre-measured dry ingredients such as flour, sugar, baking powder, and flavorings. These ingredients are carefully blended to ensure a balanced and consistent taste and texture when combined with wet ingredients, including eggs, oil, and water. The cake mix market offers a wide variety of flavors, such as chocolate, vanilla, and yellow, along with more unique options, such as red velvet, lemon, or carrot cake. Additionally, there are cake mixes designed specifically for dietary restrictions, including gluten-free, sugar-free, and vegan options. They are widely used in households, bakeries, and food service establishments, offering a quick and reliable solution for cake preparation.
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What are the growth prospects and trends in the cake mixes industry?
The cake mixes market is driven by the increasing demand for time-saving solutions in today’s fast-paced lifestyle. This can be attributed to the escalating working population and busy lifestyle led by working populations. Moreover, with the rising focus on product innovation and diversification, manufacturers are constantly introducing new flavors, varieties, and formulations to cater to changing consumer preferences and dietary requirements. This includes options such as gluten-free, vegan, and organic cake mixes, addressing the growing demand for healthier and specialized baking solutions, thus creating a positive market outlook. Additionally, the market is witnessing the incorporation of premium ingredients, such as gourmet chocolates, exotic fruits, and unique flavor combinations, to elevate the taste and appeal of homemade cakes. Furthermore, expanding distribution channels to reach both traditional retail outlets and online platforms enables businesses to tap into a larger customer base and capture the growing demand for convenient baking solutions.
What is included in market segmentation?
The report has segmented the market into the following categories:
Market Breakup by Type:
- Angel Food Cake
- Layer Cake
- Flourless or Low-Flour Cake
- Mug Cake
- Others
Market Breakup by Flavor Type:
- Chocolate
- Vanilla
- Fruit
- Others
Market Breakup by Distribution Channel:
- Online
- Offline
Market Breakup by Application:
- Household
- Commercial
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Bob’s Red Mill Natural Foods Inc
- Chelsea Milling Company
- Conagra Brands Inc
- Dr. Oetker GmbH
- General Mills Inc
- Hodgson Mill, Inc.
- Miss Jones Baking Co
- Simple Mills Inc.
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