Cake Mixes Market Size, Share & Trends Analysis Report By Product, By Distribution Channel (Hypermarkets/Supermarkets, Convenience Store, Online and Others), By Region, And Segment Forecasts, 2024 - 2030

Cake Mixes Market Size, Share & Trends Analysis Report By Product, By Distribution Channel (Hypermarkets/Supermarkets, Convenience Store, Online and Others), By Region, And Segment Forecasts, 2024 - 2030

Cake Mixes Market Growth & Trends

The global cake mixes market size is expected to reach USD 1.97 billion by 2030 registering a CAGR of 4.1%, according to a new report by Grand View Research, Inc. The growth in the market is driven by high demand for bakery products. Increased consumer disposable income levels in developing countries, such as China and Japan, is anticipated the boost the demand further.

Moreover, rising demand for Ready-To-Eat (RTE) food products across the globe due to hectic lifestyles is anticipated augment the demand over the forecast period. In addition, constant product innovation in cake mixes due to demand for specialty products, such as low calorie and gluten-free foods as a result of rising health consciousness. The impact of e-commerce channels also plays a crucial role in boosting the product demand.

The market in North America is anticipated to account for the maximum revenue share due to high demand for organic products along with constant product launches. Asia Pacific is expected to be the second largest market over forecast period due to rapidly expanding bakery industry in emerging economies. The baked goods market in China was valued at USD 28.6 billion in 2017 and is expected to ascend at a CAGR of 12.3% over the forecast period.

Cake Mixes Market Report Highlights

• The chocolate segment dominated the market and accounted for a market revenue share of 42.0% in 2023. The increasing consumer preference for indulgent and premium dessert options has fueled the demand for chocolate-based products in cake mixes.
• Hypermarket/supermarket accounted for the largest market revenue share in 2023. The availability of various cake mixes, including different flavors and types, in hypermarkets and supermarkets has been a significant driver of market growth.
• North America cake mixes market dominated the market revenue share with 34.2% in 2023. The soaring consumption of bakery products, changing dietary habits, and the rise in demand for ready-to-eat and ready-to-cook instant products have significantly contributed to the expansion of the cake mixes market in the region.
• Major companies in the market focus on new product launches, capacity expansion, and M&A activities to increase their market share

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