Analysis of Baking Mixes market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Global sales of baking mixes Market to reach US$ 9.5 Bn by the end of the 2021-2031 assessment period. The market experienced a Y-o-Y increase of 3.9% in 2021 over 2020, up from US$ 5.4 Bn to reach US$ 5.66 Bn. Overall, the industry is projected to expand 1.7x until 2031.
|Market Size (2021)||US$ 5.66 Bn|
|Value CAGR (2021-2031)||5.3% CAGR|
|Market Size (2031)||US$ 9.5 Bn|
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The worldwide market for baking mixes is estimated to be valued at around US$ 5.66 Bn in 2021. Manufacturers have especially found lucrative growth opportunities across the gluten-free sector, given the high prevalence of celiac disorders across multiple geographies. From 2016-2020, the market surged at a CAGR of 4%.
Baking mixes including organic ingredients are also gaining popularity. Meanwhile, leading industry participants are investing in research to develop new tastes and improve taste. Consumption trends experienced further impetus during the COVID-19 pandemic, attributed to the emergence of home baking. Prominent companies, such as Tata, a maker of baking soda, Cadbury and other retailers experienced a 60% increase in product sales, especially in South Asia.
As the popularity of bakery products continues to rise, market players are increasingly foraying into high growth markets, especially across Asia. Moreover, surging popularity of gourmet foods, especially bakery products, is further enhancing utilization of various categories of baking mixes. According to projections put forth by Fact.MR, the market for bakery products is slated to experience a CAGR of 5.3% across the 2021-2031 forecast period.
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Globally, there is increasing inclination towards consuming various categories of dairy products, including cakes, biscuits, bread, muffins, cookies, rolls, pies, tarts, doughnuts and refrigerated products. Out of these, bread has emerged as the staple diet, both across the Eastern and Western hemispheres. It is anticipated that over 9 million large loaves of bread are consumed globally.
Although bakery products consumption is inclining, the incidence of consumption varies across different regions. According to U.K flour millers, about 60% of flour produced in the U.K is used to manufacture bread products, while the remaining 40% is used across a wide range of food products. Similarly, 26% Americans desire more baked goods, while 28% are eating more baked goods.
Turning towards Asia, India represents a highly opportunistic geography for heightened bakery products consumption, emerging as the 2nd largest biscuit producer in the world. Both bread and biscuits comprise for over 4 out of 5 bakery products produced in the country. Also, per capita consumption of baked products in China is currently 7.2 kilograms. Based on these trends, sales of baking mixes are bound to increase in the long-run.
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Gluten intolerance, or celiac disease, is an autoimmune, allergic disorder, affecting between 0.5% and 1% of the general population. This prevalence rate is especially high across the North American and European population. However, this myth is now slowly eroding, as prevalence rates were recorded to be highest across Asia (1.8%). While there are hardly any cures for this condition, following a gluten-free diet is the most preferred approach, prompting a flurry of gluten-free product launches.
Numerous large-scale, medium-scale and small-scale companies are offering gluten-free baking mixes. Some noteworthy examples include the Betty Crocker Gluten-Free Yellow Cake Mix, William Sonoma Gluten-Free Sugar Cookie Mix, Authentic Foods Blueberry Muffin Mix, Enjoy Life Brownie Mix, Simple Mills Banana Muffin Mix and Immaculate Sugar Cookie Mix among others.
In addition to these existing brands, several new portfolios are being introduced, with Mondelez International owned OREO introducing its own range of gluten-free sandwich cookies in January 2021. Likewise, several players are launching alternative flours made from jackfruit, breadfruit, okara and coffee cherry respectively.
According to Fact.MR, the market for baking mixes is likely to expand at a CAGR of nearly 5% across the 2021-2031 forecast period. The market is primarily an outcome of rapid urbanization and subsequent increase in out-of-home food consumption. Additionally, frequent consumption of bread as a staple food has inclined prospects across the region.
As consumers become increasingly health conscious, demand for gluten-free, low-carb, whole grain and organic bakery products is registering significant growth. Consequently, prominent manufacturers have found immense opportunities to cash in on this trend and accrue significant profits.
For instance, General Mills Inc. owned Betty Crocker brand offers a wide range of gluten free products, including chocolate brownie mix, chocolate chip cookie mix, sugar cookie mix, rice flour blend, devil’s food cake mix and yellow cake mix respectively. Likewise, Bobs Red Mill offers the 1 to 1 gluten-free baking flour.
According to data published by the Federation of Bakers Ltd., the U.K bakery market is worth 3.9 billion pounds, representing a large sector of the domestic food industry. As per its findings, present volume in terms of output is just under 4 billion units, equivalent to almost 11 million loaves of bread and packs sold every day. Hence, baking mixes sales are likely to flourish impressively across the forecast period.
An interesting trend observed in the U.K market for bakery mixes is the increased spawning of artisanal products. Traditional handmade cheeses, breads and cakes are acquiring immense popularity, attributed to the increasing preference by consumers. Players such as London-based Artisan Foods are immensely popular, constituting a chain of craft bakeries across the country.
Artisan Foods deploys English milled flour from two independent mills: Shipton Mill situated in Gloucestershire and FWP Matthews in the Cotswolds. Likewise, numerous regional small to medium level players are active across the U.K market. As per Fact.MR, the market for baking mixes is likely to register a CAGR of nearly 6.5% through 2031.
According to Fact.MR, bread baking mix is likely to be one of the top-selling baking mix items. By the end of 2031, revenue from bread baking mix is expected to surpass US$ 2.7 Bn. Increasing consumption of different categories of bread is inclining market growth of this segment.
Bread has emerged as one of the key staples across both developed and developing regions. Besides consumption of regular breads, specialty breads infused with different flavors have become highly popular, prompting key manufacturers to introduce specialized bread baking mixes. For instance, Pillsbury offers seven differently flavored bread baking mixes (banana, chocolate chip, cinnamon, cranberry, date, lemon poppy seed and pumpkin).
Companies in the baking mixes industry are focused on product innovation and development. Large food corporations with R&D facilities are working hard to create a new range of baking mixes. This comprises baking mixes that fulfill dietary needs, new-age consumer eating habits, decreased sugar content, non-dairy, and zero rising agents.
|Historical Data Available for||2016-2020|
|Key Countries Covered||
|Key Segments Covered||
|Key Companies Profiled||
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By 2021-end, market value for baking mixes is poised to reach US$ 5.66 Bn
According to Fact.MR, baking mixes sales experienced an upsurge at a CAGR of 4% from 2016-2020
By 2031, the market for baking mixes is likely to surge at a CAGR of 5.3%
The baking mixes industry is expected to accumulate US$ 9.5 Bn by 2031
Increasing consumption of gluten-free products is anticipated to generate fresh revenue ecosystems for baking mixes manufacturers
As per Fact.MR, the baking mixes industry is poised to register a CAGR of 5% from 2021-2031
U.K is expected to be the fastest growing market for baking mixes, growing at a CAGR of 6.5%
Bread baking mixes will emerge as the top selling category, generating over US$ 2.7 Bn in revenue by 2031
Baking mixes sales are expected to primarily occur via modern trade channels, contributing a revenue share worth 33%
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