The global cake mixes market size is expected to reach USD 1.61 billion by 2025 registering a CAGR of 3.77%, according to a new report by Grand View Research, Inc. The growth in the market is driven by high demand for bakery products. Increased consumer disposable income levels in developing countries, such as China and Japan, is anticipated the boost the demand further.
Moreover, rising demand for Ready-To-Eat (RTE) food products across the globe due to hectic lifestyles is anticipated augment the demand over the forecast period. In addition, constant product innovation in cake mixes due to demand for specialty products, such as low calorie and gluten-free foods as a result of rising health consciousness. The impact of e-commerce channels also plays a crucial role in boosting the product demand.
The market in North America is anticipated to account for the maximum revenue share due to high demand for organic products along with constant product launches. Asia Pacific is expected to be the second largest market over forecast period due to rapidly expanding bakery industry in emerging economies. The baked goods market in China was valued at USD 28.6 billion in 2017 and is expected to ascend at a CAGR of 12.3% over the forecast period.
View detailed insights @ https://bit.ly/3np0VL3
Cake Mixes Market Report Highlights
• Chocolate flavor segment is projected to account for the largest market share by 2025. However, the fruit flavor segment is estimated to register the fastest CAGR over the forecast years
• Offline distribution channel led the global cake mix market in 2018 and accounted for a share of more than 85%
• North America was the leading regional market in 2018 and is projected to retain its dominant position over the next few years
• Growing bakery ingredients market on account of increased consumption of RTE foods, mainly in developed countries, will drive the regional market
• Major companies in the market focus on new product launches, capacity expansion, and M&A activities to increase their market share
• Some of the key manufacturers are Archer-Daniels-Midland Co.; Associated British Foods Plc; General Mills, Inc.; Continental Mills, Inc.; Ingredion, Inc.; Cargill, Inc.; Pinnacle Foods, Inc.; Hain Celestial Group, Inc.; Chelsea Milling Co.; and Kerry Group Plc
Get Sample PDF Copy @ https://bit.ly/3Cd1cHa