Global Cake Mixes Market - 2023-2030

Market Overview

The Global Cake Mixes Market reached US$ 1.4 billion in 2022 and is expected to reach US$ 1.8 billion by 2030 and is expected to grow with a CAGR of 3.5% during the forecast period 2023-2030. A prominent trend in the cake mixes market is the demand for healthier and functional options. Brands like Kodiak Cakes have capitalized on this trend with their protein-powered pancake and waffle mixes, catering to health-conscious consumers.

The cake mixes market is a thriving segment within the food industry, driven by the demand for convenient baking solutions. With busy lifestyles, consumers are seeking time-saving options that still deliver delicious homemade cakes. The market offers a wide variety of cake mixes, including options for gluten-free, vegan, and specialty flavors. The increasing popularity of online retail has further fueled the growth of the cake mixes market, providing easy access for consumers.

One driver in the cake mixes market is the increasing demand for time-saving baking solutions. For instance, a survey conducted among consumers revealed that around 70% of respondents preferred using cake mixes for their convenience and ease of preparation. This trend is supported by the steady growth in sales of cake mixes, with an estimated annual increase of 8-10% in recent years. Busy lifestyles and the desire for quick homemade desserts contribute to the rising popularity of cake mixes as a convenient baking option.

Market Dynamics

Health-conscious Consumers Drive Demand for Healthy Cake Mixes and Formulations

The cake mixes market is being driven by health-conscious consumers who seek healthier alternatives without compromising on taste. The demand for healthier cake options has led to the development of cake mix formulations that incorporate nutritious ingredients and reduce the presence of artificial additives. Gluten-free cake mixes and vegan cake mixes, in particular, align with the preferences of health-conscious individuals.

These mixes often utilize natural and plant-based ingredients, catering to those who prioritize wholesome and clean eating. As consumers become more aware of their dietary choices, the availability of healthier cake baking mixes meets their needs and preferences. This driver creates opportunities for manufacturers to innovate and capitalize on the growing market of health-oriented consumers, fostering the expansion of the cake mixes industry.

Rising Demand for Diverse Dessert Options Propels Cake Mixes Market Growth

The cake mixes market is experiencing significant growth due to the increasing demand for diverse dessert options. Consumers are seeking convenient solutions that cater to their dietary preferences and restrictions. Dessert mixes, including gluten-free and vegan cake mixes, have gained popularity among individuals with specific dietary needs. The availability of these specialized mixes addresses the growing demand for alternative options, accommodating those with gluten sensitivities or following a vegan lifestyle.

Cake mix formulations have also advanced, ensuring that gluten-free and vegan cake mixes deliver the same delicious taste and texture as traditional counterparts. This driver of the cake mixes market provides opportunities for manufacturers to expand their product offerings and capture a wider consumer base, propelling overall market growth.

Limited Availability of Specialized Cake Mixes and Ingredients Hampers Confectionery Sector

The cake mixes market faces another restraint with the limited availability of specialized confectionery mixes, cake ingredients, and cake flavors. While consumers seek a diverse range of options, including unique confectionery mixes, specialty ingredients, and a variety of cake flavors such as vanilla, chocolate, and red velvet, the market often falls short in meeting these demands.

This limitation hinders the ability of manufacturers to cater to specific consumer preferences and inhibits the market's overall growth potential. Overcoming this restraint requires investment in research and development to expand the range of available confectionery mixes, cake ingredients, and flavors, ensuring a wider selection and greater consumer satisfaction.

COVID-19 Impact Analysis

The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario, and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it to pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis

The global cake mixes market has been segmented by product type, end-use application, distribution channel, and region.

Diverse Distribution Channels Drive Cake Mixes Market Expansion

The distribution channels play a crucial role in the cake mixes market, determining the accessibility and availability of these products to consumers. The cake mixes market size presents ample opportunities for expansion and diversification through various distribution channels. Statistical data indicates that supermarkets and hypermarkets dominate the distribution channel, accounting for approximately 40-45% of the cake mixes market share.

Convenience stores hold a share of around 15-20%, while online retail has witnessed significant growth, representing approximately 20-25% of the market. Specialty stores contribute around 10-15%, while other channels such as discount stores and independent retailers hold a share of approximately 10-15%.

Geographical Analysis

Asia Pacific Emerges as a Growing Force in the Cake Mixes Market, Paving the Way for Expanding Market Share and Size

By region, the global cake mixes market is segmented into North America, South America, Europe, Asia-Pacific, Middle-east, and Africa.

The Asia Pacific cake mixes market is the fastest growing segment in the global market. Statistical data indicates that the region is witnessing significant expansion, with a projected compound annual growth rate of 8-10% in recent years. While North America holds the largest cake mixes market share, the Asia Pacific region is emerging as a prominent player. According to the market analysis, the cake mixes market size in the Asia Pacific is steadily growing.

This growth can be attributed to factors such as changing consumer preferences, urbanization, and the rising popularity of Western-style baked goods. With a large and diverse population, the Asia Pacific region offers immense potential for the cake mixes market to further expand and capture a significant market share.

Competitive Landscape

The major global players in the market include: Associated British Foods plc, General Mills, Inc., Archer-Daniels-Midland Co., Ingredion, Inc., Cargill, Inc., Pinnacle Foods, Inc., Hain Celestial Group, Inc., Kerry Group plc, Continental Mills, Inc., and Chelsea Milling Co.

Why Purchase the Report?

• To visualize the global cake mixes market segmentation based on type, flavor, distribution channel, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities in the market by analyzing trends and co-development.
• Excel data sheet with numerous data points of cake mixes market-level with all segments.
• The PDF report consists of a cogently put-together market analysis after exhaustive qualitative interviews and an in-depth market study.
• Product mapping is available as Excel consists of key products of all the major market players.

The global Cake Mixes market report would provide approximately 61 tables, 62 figures, and 190 pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies