The global cake mixes market is experiencing a significant growth, and will grow considerably in next few years. A cake mix is a pre-mixed formulation of ingredients used for making cakes or any baked dishes such as breads, pancakes, waffles, muffins, cookies, brownies, pizza dough, biscuits, and various other desserts. A cake mix is a mixture, including flour, bread flour, baking powder, baking soda, yeast, sugar, and salts as its basic ingredients. It is available in various different flavors like chocolate, vanilla, and fruits.
COVID-19 Scenario Analysis
- Coronavirus has spread all over the world and most of the countries are adopting lockdown measures to control the spread of the virus and securing public health.
- The COVID-19 pandemic saw a decline in the economic growth in almost all the major countries, thus affecting consumer spending patterns.
- Owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted the supply chain of numerous industries across the globe, thereby increasing the supply–demand gap.
- Thus, insufficiency in raw material supply is expected to hamper the production rate of cake mixes, which negatively impact the market growth.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
Increasing population with their disposable income has turned the market growth for cake mixes towards growth. Changing lifestyles of consumers have played the major role in increasing demand for cake mixes. Increasing working population across the world is facing many challenges related to their lifestyle as they do not have much time to prepare food and desserts for themselves and leaned more toward ready-to-eat food and prefer hotels and restaurants frequently to have their favorite desserts. This has increased the demand for cake mixes in hotel and restaurant industry.
The global cake mixes market trends are as follows:
Shifting consumer’s preference towards new and exotic flavors
Increasing disposable income of consumers and dual sources of income in many houses affected the lifestyle of consumers. Rising purchasing power of consumers encouraged them to improve their living standard and spend more, which provide them with convenience and new experience. There is a witnessing increase in the frequency of people going to hotels and restaurants to have a delicious food and desserts and they are curious to experience and try every new and exotic flavor available, which propelled the demand for cake mixes.
Key Benefits of the Report:
- This study presents the analytical depiction of the global cake mixes industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global cake mixes market share.
- The current market is quantitatively analyzed to highlight the global cake mixes market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global cake mixes market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions Answered in the Cake mixes Market Research Report:
- Which are the leading players active in the cake mixes market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps?
Cake Mixes Market Report Highlights
By Distribution Channel
Key Market Players
Kerry Group Plc, Archer-Daniels-Midland Co., Hain Celestial Group Inc., Chelsea Milling Co., Ingredion Inc., General Mills Inc., Cargill Inc., Pinnacle Foods Inc., Associated British Foods Plc, Continental Mills Inc.