Analysis of COVID-19 Crisis-driven Growth Opportunities in Baking Mixes Market
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
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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.
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.
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