Baking Mixes Market Size Worth USD 2.89 Billion by 2026 at 4.23% CAGR – Report by Market Research Future (MRFR)

New York, US, July 01, 2021 (GLOBE NEWSWIRE) — Baking Mixes Market Overview:

According to a comprehensive research report by Market Research Future (MRFR), “Baking Mixes Market Information by Product Type, Category End Use, Distribution Channel, and Region – Forecast till 2026”, the market is estimated to reach USD 2.89 Billion by 2026 at a CAGR of 4.23%.

Market Scope:

Baking mixes are ready-to-use blends of bakery ingredients and additions that aid in the preparation of bakery products such cookies, biscuits, pastries, and muffins, as well as bread. These mixes contain a powdered blend of product ingredients that will assist the user in preparing the bakery item in the shortest amount of time. Baking mixes are widely utilised by customers at home due to their convenience of use and widespread availability. Furthermore, baking mixes are increasing popularity among small and medium-sized food service operators.

Market Drivers:

The global baking mixes market is being driven by rising bakery product consumption and the bakery industry’s overall expansion. Consumer preferences for product variety in terms of taste, flavour, and freshness are continually evolving, which is driving the rise. As the food business has the highest levels of product innovation, changing customer preferences contribute to sector growth. The global baking mixes market is growing due to changing lifestyles and rising demand for comfort food. During the review period, rising demand for organic and clean label baked goods is likely to provide profitable growth possibilities for baking mix makers. High investments in R&D operations, followed by the development of new products, are significant revenue-generating prospects for baking mix manufacturers.

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Market Restraints

Furthermore, the global baking mix market’s expansion is hampered by rigorous regulatory environment constraints.

Competitive Landscape:

The Prominent Players operating in the Global Baking Mixes Market include:

• General Mills Inc. (US),
• Conagra Brands, Inc. (US)
• Chelsea Milling Company (US)
• Associated British Foods plc (UK)
• Mondelēz International, Inc. (US)
• Bob’s Red Mill Natural Foods, Inc. (US)
• Hain Celestial (US)
• Keto and Company (US)
• Continental Mills, Inc. (US)
• Dawn Food Products, Inc. (US)

The Players operating in the global baking mixes market are focusing on acquisitions, product launches, and expansions to strengthen their market position and capture a large customer base.

COVID-19 Analysis

The emergence of COVID-19, a global pandemic, triggered a global crisis. With over 213 countries affected, the epidemic has already created a global economic background and is expected to cause discontent, leading to global rescission. COVID-19 has had an impact on the market for baking mixes. Because of the urgent steps being taken to contain the spread of the coronavirus, such as physical separation and transportation restrictions, obtaining raw materials is challenging. Supermarket and hypermarket closures have had an impact on baking mix sales all over the world.

Browse In-depth Market Research Report (110 Pages) on Baking Mixes: https://www.marketresearchfuture.com/reports/baking-mixes-market-2151

Market Segmentation

Product Type, Category, End-Use, Distribution Channel, and Region have all been used to segment the Global Baking Mixes Market.

The market has been segmented into cookie & biscuit mixes, cake, pastry & muffin mixes, bread mixes, and others based on product type. In 2019, the cake, pastry, and muffin mixes segment had the biggest market share. Due to the increasing consumption of cakes, pastries, and muffins, the cake, pastry, and muffin mixes segment is a very profitable product segment for market players. They are sweet baked goods that can be consumed at any time of year and for any occasion. However, during the estimated period, the bread mixes category is expected to increase at a substantial growth rate.

The market has been divided into two categories: conventional and gluten-free. In 2019, the conventional segment held a bigger market share, but the gluten-free sector is predicted to grow at a faster rate throughout the forecast period.

The market has been divided into two segments based on end use: retail customers and foodservice. In 2019, the retail customers segment held a greater market share, while the foodservice segment is predicted to grow at the fastest rate throughout the projection period.

The market has been divided into store-based and non-store-based segments based on distribution channel. Supermarkets and hypermarkets, convenience stores, and other stores make up the store-based component. During the review period, the fastest-growing sub-segment is expected to be supermarkets and hypermarkets. Baking mixes are also widely distributed through convenience stores. During the review period, however, the non-store-based segment is expected to develop at a faster rate.

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Regional Insights

In 2019, North America held the greatest market share of 45.63 percent in the global baking mix market. The rise can be ascribed to the growing popularity of baked goods among consumers. Additionally, the growing working population in North America, as well as a growing preference for convenience, are expected to boost baking mix sales. Baking mixes are made in large quantities across Europe.

Healthy bakery products with whole grains, high fibre content, and no gluten are becoming increasingly popular in Europe. Furthermore, the growing consumer preference for convenience foods as a result of busy lifestyles is expected to fuel the European baking mix market.

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