The global cake mixes market size was valued at USD 1.24 billion in 2018. The market is estimated to expand at a CAGR of 3.77% over the forecast period. Rising product demand across the globe due to preference for Ready-To-Eat (RTE) foods on account of hectic work life is expected to be the key factor driving the market.
These products are available in a variety of flavors, such as chocolate, vanilla, fruits, and others, which is also anticipated to boost their demand over the forecast period. Moreover, increased spending on the premium category of branded products due to their high quality and reliability will contribute to market growth.
The rise in disposable income levels, especially in emerging countries like India and China, will also have a positive impact on product demand. Furthermore, the rapidly expanding bakery industry in these countries is projected to help boost the demand in the future. Also, constant product innovation in cake mixes on account of demand for specialty products, such as low calorie and gluten-free foods as a result of rising health consciousness.
For instance, in March 2019, Dawn foods expanded its category of gluten-free ingredients in bakery mixes products. The impact of e-commerce channels also plays a crucial role in boosting product demand. However, the use of various preservatives and chemicals for longer product shelf life may hamper the market growth.
The chocolate flavor segment accounted for the largest market share of more than 40% in 2018. The segment will expand further at a steady CAGR from 2019 to 2025 due to the high consumption of chocolate-flavored food products across the globe. High awareness levels about the health benefits of chocolate will boost the demand further.
The fruit flavor is expected to be the fastest-growing segment at a CAGR of 5.04% from 2019 to 2025. Rising demand for fruit flavored products due to natural and chemical-free ingredients is anticipated to augment the segment growth. Moreover, the availability of a variety of flavors, such as strawberry, pineapple, banana, blueberry, cherry, and mango, will fuel the segment growth further.
The offline distribution channel holds the largest share of the industry. Offline distribution channels have a variety of products of different brands, which is projected to drive the segment. The rising number of specialty stores, convenience stores, hypermarkets, and supermarkets across the globe is also contributing to the segment development. However, the online distribution channel is projected to be the fastest-growing segment registering a CAGR of 5.11% over the forecast period.
The segment is driven by the rising popularity and number of e-commerce websites, such as Natures Basket Ltd., Bakery Cart, and Big Basket, which offer a variety of organic products of different flavors. Also, online platforms offer doorstep delivery services and heavy discounts on branded products, which is further projected to boost sales through online distribution channels.
In terms of value, North America holds the largest market share due to the high demand for bakery products. In 2017, the baked goods market in the U.S. was valued at USD 58.6 billion and is anticipated to rise at a CAGR of 2.2% over the forecast period. The Fruit flavor segment in the U.S. is expected to register the maximum growth at a CAGR of 5.18% from 2019 to 2025.
Central & South America is expected to have the fastest CAGR of 6.20% over the forecast period on account of rising demand for bakery products in countries, such as Brazil and Argentina. The baked goods industry in Brazil is forecasted to rise at a CAGR of 9.5% over the forecast. The growing popularity of Brazilian cake recipes, such as Brazilian cornmeal cake, Brazilian carrot cake, passion fruit mousse cake, peach pound cake, and spiced pumpkin cake, will drive the regional cake mix market.
The market is identified by several strategic initiatives, such as acquisition and mergers, product innovation, capacity expansion, by the key manufacturers. Some of these companies include Archer-Daniels-Midland Co.; General Mills, Inc.; Associated British Foods Plc; Ingredion, Inc.; Cargill, Inc.; Pinnacle Foods, Inc.; Hain Celestial Group, Inc.; Kerry Group Plc; Continental Mills, Inc.; and Chelsea Milling Co.
The base year for estimation
Actual estimates/Historical data
2015 - 2017
2019 - 2025
Revenue in USD Million and CAGR from 2019 to 2025
North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa
U.S., Italy, France, China, Japan, Brazil, and Turkey
Revenue forecast, company share, competitive landscape, growth factors and trends
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This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For this study, Grand View Research has segmented the global cake mixes market report based on flavor, distribution channel, and region:
Flavor Outlook (Revenue, USD Million, 2015 - 2025)
Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
Regional Outlook (Revenue, USD Million, 2015 - 2025)
Central & South America
Middle East & Africa
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