Baking Mixes Market: Overview
The baking mixes market witnessed notable growth in the recent past and is expected to continue to do so in the near future. Amidst COVID-19 and nationwide lockdowns imposed by governments, individuals in many parts of the world have extensively taken to home baking for the joy of home baking. Baking of cakes, cookies, muffins have become regular in households thanks to availability of ready-to-use baking mixes.
Key types into which baking mixes is available are cookie and biscuit mixes, pastry and muffin mixes, cake, bread mixes, and others. Key categories into which baking mixes is divided are gluten-free and conventional.
The report provides a qualitative analysis of the baking mixes market, covering demand dynamics, growth opportunities, and regional outlook for the forecast period 2020- 2030. Furthermore, the report delves into the competitive landscape along with valuable insights into growth strategies, business moves for new participants to make
Baking Mixes Market: Competitive Landscape
The baking mixes market is choc-a-bloc with companies of varying sizes. The baking mixes market features presence of some large food companies that hold substantial share in the market. Small companies that have presence in local and regional markets also register notable sales due to word of mouth marketing.
Product innovation and product development are the focus of companies in the baking mixes market. Large food companies with R&D infrastructure are striving to develop new line of baking mixes. This includes baking mixes to meet dietary requirements, food habits of new-age consumers, reduced sugar content, non-dairy, and zero raising agents.
Prominent companies operating in the baking mixes market are General Mills Inc., Associated British Foods plc., Hain Celestial Group Inc., Mondelez International, Dr. Oetker, Simple Mills, Pioneer Brand, Foodstirs, Chelsea Milling Company, Bob’s Red Mill Natural Foods, Conagra Brands Inc., Keto and Company, Continental Mills Inc., Stonewall Kitchen, and Miss Jones Baking Co.
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Baking Mixes Market: Key Trends
Easy to use and easy to store are some of the key factors stoking demand for baking mixes among individuals of various age groups. Baking mixes are available for a number of baked goods including cakes, cookies, muffins, and bread. Baking mixes are available in powder form, complete with instructions on the box for mixing and baking.
Fancy for home baked goods and interest of amateur cooks to try their hands on baked foods are some other factors for ever-increasing demand for baking mixes. Baking mixes are easy to prepare and mostly do not require additional ingredients.
Availability of baking mixes to prepare a number of baked goods and availability in several flavors is a plus for their demand.
Growing interest of young children in cooking and baking opens growth avenues for the baking mixes market. Young children both boys and girls tend to spend time in cooking and baking activities during vacation for fun and learning, for which baking mixes comes handy.
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Baking Mixes Market: Regional Outlook
Europe accounts for significant share in the baking mixes market. Common practices of home baking, including use of baking mixes among the working population boosts the baking mixes market in the region. Senior citizens in the region who mostly live independently keep themselves occupied with home activities, including cooking and baking pursuits. Baking mixes are convenient to use and gives near-perfect results in no time.
Asia pacific is emerging as a key region in the baking mixes market. Rapid rise in demand for easy-to-prepare foods due to changing lifestyle is benefitting the bakery mixes market. Individuals and couples tend to spend considerable time in the kitchen on weekends to de-stress after a hectic working week.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.