Cake Mixes Market Size
The Global Cake Mixes Market reached USD 1.4 billion in 2022 and is expected to reach USD 1.8 billion by 2030 and is expected to grow with a CAGR of 3.5% during the forecast period 2024-2031. One trend in the cake mixes market is the growing demand for personalized and customizable baking experiences. For instance, brands like Duff Goldman offer cake mixes that allow consumers to add their own creative touches, such as custom decorations or mix-in ingredients.
The cake mixes market is a thriving sector within the food industry, driven by demand for convenient and time-saving baking solutions. With consumers seeking easy-to-use options, cake mixes offer a quick and hassle-free way to create homemade cakes. The market is divided by a wide range of flavors, including traditional favorites and unique variations. The growing popularity of online retail has boosted the availability of cake mixes to a larger consumer base.
One driver in the cake mixes market is the increasing popularity of home baking and DIY projects. This can be observed through the rise in online searches for cake recipes and baking tutorials, with a 40% increase in searches for "cake mix recipes" in the past year. Additionally, social media platforms like Instagram and TikTok have seen a surge in user-generated content featuring homemade cakes using cake mixes.
Market Summary
| Metrics | Details |
| CAGR | 3.5% |
| Size Available for Years | 2021-2030 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | Type, Flavor, Distribution Channel, and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | North America |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Market Dynamics
Growing Demand for Convenient Dessert Solutions Drives Cake Mixes Market Expansion
The cake mixes market is fueled by the increasing demand for convenient dessert solutions. Consumers seeking hassle-free baking options are drawn to dessert mixes that offer quick and easy preparation. The availability of a wide range of dessert mixes, including cake mixes, confectionery mixes, and specialty flavors such as vanilla, chocolate, and red velvet, caters to diverse consumer preferences.
These convenient mixes save time and effort in measuring and mixing ingredients, making them a popular choice for busy individuals and families. The convenience factor, combined with the versatility and variety offered by cake ingredients and flavors, drives the growth of the cake mixes market, presenting opportunities for manufacturers to innovate and meet evolving consumer needs.
Increasing Emphasis on Homemade Baking Fuels Cake Mixes Market Growth
The cake mixes market is experiencing growth due to the rising emphasis on homemade baking. With a focus on creating personalized and freshly baked goods, consumers are turning to cake mixes as a convenient and reliable option. Cake mixes provide the necessary ingredients and proportions, simplifying the baking process and enabling individuals to enjoy the satisfaction of homemade cakes without the need for extensive culinary expertise.
Additionally, the availability of a wide array of cake flavors, including popular choices like vanilla, chocolate, and red velvet, enhances the appeal of cake mixes for home bakers to cake baking. The growing trend of homemade baking, coupled with the convenience and flavor variety offered by cake mixes, presents a significant driver for the market's expansion, creating opportunities for manufacturers and retailers alike.
Gluten-Free and Vegan Cake Mixes Face Formulation Restraints in the Market
One key restraint of the cake mix market is the limited availability of gluten-free cake mixes and vegan cake mixes. While there is a growing demand for these specialized products, the market still faces challenges in terms of cake mix formulation and production. Developing gluten-free cake mixes requires careful consideration of alternative ingredients and processes, which can add complexity and increase costs.
Similarly, formulating vegan cake mixes that meet consumer expectations for taste and texture can be a hurdle for manufacturers. Meeting the dietary restrictions and preferences of gluten-free and vegan consumers presents an opportunity for innovation and market expansion, but it requires investment in research and development to create quality formulations that align with these dietary needs.
Market Segment Analysis
The global cake mixes market is segmented based on type, flavor, distribution channel, and region.
Cupcake Mixes Dominate the Cake Mixes Market with Promising Growth Opportunities
The global cake mixes market has been segmented by type into angel food cake, layer cake, flourless cake, chiffon cake, cupcake, and others
Cupcakes hold a significant presence in the cake mixes market, enjoying a substantial share of consumer demand. Statistical data suggests that cupcake mixes contribute to approximately 30-35% of the overall cake mixes market. The popularity of cupcakes can be attributed to their individual serving size, convenience, and versatility in flavor and decoration options. As a result, they have become a favorite choice for celebrations, parties, and everyday treats.
The cupcake segment presents lucrative opportunities for manufacturers within the cake mixes market, with a growing consumer base and increasing interest in unique flavors and decorative designs. Capitalizing on this trend can lead to further market growth and expansion, making it a promising avenue for companies operating in the cake mixes industry.
Market Geographical Share
The North America Region Held the Largest Share of Cake Mixes Market.
The North America cake mixes market holds the largest share of the global cake mixes market. Statistical data reveals that North America accounted for approximately 40.2% of the overall cake mix market share. This region witnessed consistent growth, with a compound annual growth rate of around 4-6% in recent years. The cake mixes market size in North America is estimated to be valued at billions of dollars.
Factors contributing to this dominance include a well-established bakery culture, a high demand for convenience foods, and a growing preference for homemade baked goods. Furthermore, innovative product launches, increased marketing efforts, and the presence of major market players have propelled the growth of the cake mixes market in North America.
Cake Mixes Companies
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.
COVID-19 Impact on Market
The COVID-19 pandemic has significantly impacted the Cake Mixes Market, with a noticeable shift in consumer behavior. According to statistical data, the market witnessed a substantial increase in demand, experiencing a growth rate of approximately 20-25% during the pandemic period. This surge can be attributed to factors such as increased home baking and a greater focus on comfort foods.
Additionally, online sales of cake mixes saw a remarkable rise, accounting for nearly 40-45% of total sales. However, the market also faced challenges, including disrupted supply chains and production constraints. As the situation improves, it is expected that the market will stabilize and show steady growth in the coming years.
Key Developments
- On July 1, 2021, L Catterton, the largest U.S-based consumer-focused private equity firm, today announced that it has completed the previously announced acquisition of Kodiak Cakes, a fast-growing food business, with a delicious portfolio of 100% whole-grain, protein-powered pancake and waffle mixes, frozen waffles and pancakes, oatmeal, baking mixes, and a variety of snacking products, Kodiak provides its loyal consumers with "Nourishment for Today's Frontier.
- On July 27, 2021, King Arthur Baking Company, America's premier baking brand that supplied consumers through the baking boom of 2020, continues its legacy with new products designed to make baking easy and accessible to all bakers, no matter their skill level. Launching this fall, four new pancake mixes, a Gluten-free Confetti Cake mix, and Organic Masa Harina are the result of extensive market research and internal insights from the past year as the baking industry has seen a surge in new consumers and high demand for quality baking ingredients.
- On April 25, 2023, The Krusteaz Co., which was known as Continental Mills, Inc. until late last year, is adding to its portfolio with the launch of a waffle mix and three new baking mixes. The mixes include Krusteaz Churro Belgian Waffle Mix; Krusteaz Vanilla Pound Cake Mix; Krusteaz Gluten-Free Meyer Lemon Bar; Krusteaz Gluten-Free Vanilla Muffin.
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 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
