PUBLISHER: Grand View Research | PRODUCT CODE: 1553420
PUBLISHER: Grand View Research | PRODUCT CODE: 1553420
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.