The Global Cake Mixes Market Size was Valued at USD 1.55 Billion in 2023 and the Worldwide Cake Mixes Market Size is Expected to Reach USD 2.19 Billion by 2033, according to a research report published by Spherical Insights & Consulting. Companies Covered: General Mills Inc., Ingredion Inc., Continental Mills Inc., Cargill Inc., Hain Celestial Group Inc., Archer-Daniels-Midland Co., Kerry Group Plc, Associated British Foods Plc, Pinnacle Foods Inc., Chelsea Milling Co., and other key companies.
New York, United States , March 28, 2024 (GLOBE NEWSWIRE) — The Global Cake Mixes Market Size is to Grow from USD 1.55 Billion in 2023 to USD 2.19 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 3.5% during the projected period.
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Cake mixes are pre-made ingredients that make baking a cake quick and easy. They usually contain dry ingredients such as flour, baking powder, baking soda, yeast, salt, sugar, leavening agents, and flavorings. They also require wet ingredients, such as eggs, water, milk, and flavoring. They are used to make various types of cakes, including chocolate, vanilla, and lemon. Cake mixes are popular worldwide because they are typically packaged in boxes and are easy to use. Currently, key players are offering customizable cake mixes that allow customers to add different ingredients or choose from a variety of mix-ins to create their cake. The rising population and disposable income are driving market growth during the forecast period. Furthermore, changes in consumer lifestyles are also contributing significantly to the growth of the cake mixes market. The world’s growing working population faces a number of lifestyle challenges, including a lack of time to prepare their food and desserts, an increased reliance on ready-to-eat food, and a preference for desserts at hotels and restaurants. As a result, the demand for cake mixes has increased in the hotel and restaurant industry. However, the cake mixes market will be constrained by the large number of preservatives used to extend the product’s shelf life, which may hinder the market and cause problems during the forecast period.
Browse key industry insights spread across 200 pages with 115 Market data tables and figures & charts from the report on the “Global Cake Mixes Market Size, Share, and COVID-19 Impact Analysis, By Type (Layer Cake, Angel Food Cake, Flourless or Low- Flour Cake, Mug Cake, Cup Cake, Others), By Flavor (Chocolate, Vanilla, Fruit, Others), By Distribution Channel (Online, Offline), By Application (Household, Commercial), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.”
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The cup cake segment is expected to hold the largest share of the global cake mixes market during the forecast period.
Based on the type, the global cake mixes market is categorized into a layer cake, angel food cake, flourless or low- flour cake, mug cake, cup cake, and others. Among these, the cup cake segment is expected to hold the largest share of the global cake mixes market during the forecast period. Because of easy consumption due to its small size and a high working population in the country.
The chocolate segment is expected to hold a significant share of the cake mixes market during the forecast period.
Based on the flavor, the global cake mixes market is categorized into chocolate, vanilla, fruit, and others. Among these, the chocolate segment is expected to hold the largest share of the global cake mixes market during the forecast period. Because chocolate-flavored food products are so popular around the world, the market is expected to grow at a consistent CAGR during the forecast period. A high level of awareness about chocolate’s health benefits will increase demand.
The offline segment is expected to grow at a substantial CAGR growth of the cake mixes market during the forecast period
Based on the distribution channel, the global cake mixes market is categorized into online and offline. Among these, the offline segment is expected to grow at a substantial CAGR growth of the global cake mixes market during the forecast period. Offline distribution channels offer a diverse range of products from various brands, and this is expected to drive the segment. The growing number of specialty stores, convenience stores, hypermarkets, and supermarkets around the world is also contributing to segmental growth over the forecast period.
The commercial segment is expected to hold a significant share of the cake mixes market during the forecast period.
Based on the application, the global cake mixes market is categorized into household and commercial. Among these, the commercial segment is expected to hold the largest share of the global cake mixes market during the forecast period. This expansion is attributed to the commercial use of cake mixes in the food industry, which is being driven by rising demand from an aging population and increased consumption of ready-to-eat meals as a result of a hectic lifestyle. The introduction of novel products such as quick baking mixes and low-sugar, no gluten mixes in a variety of flavors will be key drivers of increased commercial use of cake mixes during the projection period.
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North America is anticipated to hold the largest share of the global cake mixes market over the predicted timeframe.
North America is projected to hold the largest share of the global cake mixes market over the forecast period. This is due to a variety of factors, including increased demand for convenience and a shift in consumer preferences toward healthier options. Furthermore, the proliferation of online shopping has made it easier for customers to purchase cake mixes from a wide range of retailers. The market is also benefiting from the growing popularity of baking as a hobby.
The Asia Pacific market is expected to grow at the fastest CAGR growth during the forecast period. Customers can now find the best cake mix for their needs with greater ease. As a consequence, the Asia Pacific region is seeing an increase in the number of online stores selling cake mixes, making it easier for customers to shop from the comfort of their own homes.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global cake mixes market are General Mills Inc., Ingredion Inc., Continental Mills Inc., Cargill Inc., Hain Celestial Group Inc., Archer-Daniels-Midland Co., Kerry Group Plc, Associated British Foods Plc, Pinnacle Foods Inc., Chelsea Milling Co., and among others.
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Recent Developments
- In November 2021, Cargill, a food industry behemoth, has purchased an edible oil refinery in Nellore, Andhra Pradesh, India, in order to increase its regional presence and strengthen its existing supply chain. The company stated that it would cost around $35 million (250-270 crores) to acquire, modernize, and significantly increase the facility’s capacity to produce edible oil.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global cake mixes market based on the below-mentioned segments:
Global Cake Mixes Market, By Type
- Layer Cake
- Angel Food Cake
- Flourless or Low- Flour Cake
- Mug Cake
- Cup Cake
- Others
Global Cake Mixes Market, By Flavor
- Chocolate
- Vanilla
- Fruit
- Others
Global Cake Mixes Market, By Distribution Channel
- Online
- Offline
Global Cake Mixes Market, By Application
- Household
- Commercial
Global Cake Mixes Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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