High demand for nutritive and healthy ingredients in bakery food has uplifted the global baking mixes market. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on Global Baking Mixes Market Research Report- Forecast to 2022 that the market will demonstrate an exceptional CAGR 3% while achieving million dollar growth readily in the forecast period.
Baking mixes are products which has a pre-mixed formulation of ingredients. These mixes are widely used in bakery food preparations. The most common ingredients used in the baking mixes includes flour, baking soda, baking powder, salt, sugar, yeast, flavoring agents, and other. The composition of ingredients may vary, depending on the type of product being prepared. The most common baking mix is available in a powder form which additionally requires milk, water, cooking oil, eggs, and other ingredients for the preparation of final product.
Shifting, consumer preferences towards natural ingredients, sweeteners, and preservatives have resulted in the manufacturers to focus on developing baking mixes with organic or natural ingredients. Additionally, high demand for baking mixes with gluten-free ingredients among the population with gluten resistance is gaining attraction. Furthermore, high investments from the major market players to offer new flavors and enhances taste has uplifted the global baking mixes market. Moreover, consumer inclination towards high nutrition and better ingredient for the quality product, manufacturers are readily involved in quality check for their products. This initiative will help the industries to hold the market of global baking mixes.
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Major Key Players:
With diverse product range and increasing awareness among consumers towards baking mixes is driving the market growth. With the entry of new industry players in the baking mixes segment, a trend of solid, volume-driven growth has been observed in the market. At present, there are limited numbers of large and small market players. Price, quality, product differentiation, distribution, and promotion are the major factors on which industrial players compete to maintain their market share. Industrial players are extensively investing on R&D, new product development and strategic partnerships. Industrial players in order to sustain and succeed in a competitive environment, look for product differentiation along with cost savings through a unique and clear value proposition. Industrial players are extensively investing on marketing activities in order to make strong brand image of their products and also to create awareness along with keeping strong focus on product packaging creating brand value.
The key players profiled in baking mixes are as Pillsbury (U.S.), Nestle (Switzerland), Pioneer brand (U.S.), Betty Crocker (U.S.), Duncan Hines (U.S.), Hungry Jack (Australia), King Arthur Flour (U.S.), and Jiffy (U.S.)
Latest Industry Updates:
Dec-2017 Doves Farm extends its FREEE range with new baking mixes. Also, in the same month Doves Farm added two new gluten-free baking mixes to its FREEE brand. Company is highly focused towards new product launches in gluten-free range.
Oct 2017 Foodstirs Modern Baking, involved in manufacturing USDA organic baking mixes, launched new organic snickerdoodle blondie mix and three limited-edition holiday SKUs: organic very merry gingerbread cookie mix, organic chocolate chippy pumpkin bread mix, and organic pumpkin spice stacks pancake mix. New product launch from the company will strengthen brand portfolio.
Jun 2016 Pillsbury introduced its new licensing relationship with Girl Scouts of the USA to bring two of America’s favorite Girl Scout Cookie flavors to the kitchen with NEW Pillsbury Girl Scouts products in name of thin mints and caramel & coconut flavored baking mixes. The company is rigorously involved in expanding product range with strategic mergers and acquisition.
Jun 2016 Bob’s Red Mill launched Paleo baking flour mix, new product launch will strengthen business portfolio of the company.
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The global baking mixes market is segmented into North America, Europe, APAC, and Rest of the World (RoW). The global baking mixes are highly dominated by North America owing to high consumption of baking mixes in daily consumption. Additionally, bakery and confectionary products have shown tremendous application of baking mixes in the U.S. Asia Pacific region is fastest growing region due to shifting lifestyle, demographic trends, and improved disposable income in that region. The consumption of baking mixes in developing counties like India, Brazil and China is expected to rise in the near future. The U.S. accounted for highest market share in the baking mixes by Australia. Major baking mixes companies are looking at Europe and APAC as potential regions for investments owing to potential demand from the consumers of these regions.
The global baking mixes market has been divided into type, function, and region.
On the Basis of Type: Cookie & Biscuit Mixes, Cake & Muffin Mixes, Bread Mixes, Pancake & Waffle Mixes and others
On the Basis of Function: Gluten Free, Vegan, Organic, Sugar-Free, Paleo and others
On the Basis of Region: North America, Europe, Asia Pacific and ROW
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