Cake mix are the powdered premix that contains all the necessary ingredients needed for baking cakes. It can be used directly for the preparation of cakes by adding desired amount of eggs or even by using egg replacements according to one’s preferences. Wide range of cake mixes are readily available in the market having high nutritional value and various flavors. Increasing modernization and busy schedule of women working in white collar sector has increased the demands of ready-to-eat processed foods and powdered mixes globally. The easy to bake powdered cake mixes and the authentic flavors have made the global market of cake mixes grow at a higher rate.
Food additives present in cake mix helps in increasing the shelf life without compromising its nutritional value. Cake mix manufacturers are now also focusing on replacing potential food allergens by non-allergenic healthy substitutes. People with allergies generally prefer food products that are free of any dairy product or are gluten-free. The easy availability of gluten-free and dairy-free cake mix has therefore gained its popularity.
The cake mix market can be segmented on the basis of product type, added flavors, distribution channel, and by regions.
On the basis of product type the cake mix market can be segmented into two categories, white cake mix and yellow cake mix. Due to the increasing health concerns amongst the present generation and increasing demand to raise protein content in a food product, the market of white cake mix is expected to grow at a higher rate as in white cake mix only egg white is added which is a rich source of protein. Also, based on the product origin the cake mix market can be segmented in two categories, organic mix and non-organic cake mix. Due to increasing awareness and people adopting healthy lifestyle, the global market of organic cake mix is expected to expand at CAGR.
Based on the type of added flavors, the cake mix market is segmented into two types cake mix containing artificial flavors and cake mix containing natural flavors. People globally tend to buy food products that are free of any harmful chemical additives, therefore the market of cake mix containing natural flavors is expected to raise. On the basis of distribution channel, the cake mix market can be segmented into supermarkets/hypermarkets, online retail, convenience stores, specialist stores and others.
Furthermore, on the basis of flavors of the cake mix, the market can be segmented into four major segments, chocolate cake mix, vanilla cake mix, lemon cake mix and others.
Market Regional Outlook:
On the basis of region, the cake mix market has been segmented into North America, Latin America, Western Europe , Eastern Europe, Asia-Pacific excluding Japan, the Middle East and Africa. In regional market, as Pillsbury’s market expanded which is based, North America is considered to have the largest market for cake mix. Due to the ready-to-bake property and good shelf life, cake mix market ensures a rapid production rate. Also, the cake mix manufacturers are taking into consideration the increasing trend of consumption of sugar free products and therefore, the global cake mix market is expected to significantly increase the revenue contribution over the forecast period.
Market Drivers and Trends:
The manufacturers of cake mix focuses mainly on producing cake mix having good nutritional value and which does not contain any allergens. The increasing adoption of healthy life style has increased the demand of sugar free and low fat cake mix. This trend has increased the popularity of nutritional cake mix and so the cake mix global market is expanding at a higher rate. Due to various available options of cake mix including dairy- free cake mix, gluten- free cake mix and low calorie cake mix, the global market is expected to expand at CAGR.
The increasing population of women entering the white collar sector and their busy lifestyle is one of the major driving forces of the cake mix market. Increasing rate of people becoming health conscious has also influenced the cake mix market and has increased the demand of organic cake mix and sugar free cake mix. Increasing Population in the Asia-pacific regions is also considered to be one of the key drivers of the cake mix market.
Cake Mix Market Key Players:
Some of the key players in cake mix market are Pillsbury, Duncan Hines, Betty Crocker, Dr. Oetker, Farina Bella, Bob Red Mill, Hodgson & Mill, Arrowhead Mills. The easy to bake property has increased the demand of cake mix in global market. The established players are experimenting to increase their products quality as well as new entries are expected into the market.
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