(MENAFN Editorial) Global Cake Mix Market Information- by cake type (Shortened Cake, Layer Cake), flavor (vanilla), specialty diet (Fat-Free) and Region Forecast to 2022

Market Overview:

High demand for convenience bakery goods is identified to drive the market for cake mix positively during the forecast period. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on Global Cake Mix Market Research Report- Forecast to 2022 that the market will demonstrate an exceptional CAGR % while achieving million dollar growth readily in the forecast period.

Cake mix are premixes which can be prepared by adding eggs or egg replacers to them. Rising disposable income and demand from the population of millennial are the major identified key drivers to the growth of this market. In addition to that, comparatively high shelf-life and convince preparation is anticipated to boost the market for cake mix across the regions. Growth of the 'ready-to-bake market has also provided an impetus for the increased demand of this sector. Consumers are found to have more demand for flavored pre-mixes which can be prepared with egg replacers based on the growing vegan population. This has encouraged the manufacturers towards experimenting with new and unique flavors and bringing in innovations.

Technological advancements and improvisations in the manufacturing techniques have given great results which has helped in increasing the production capacity of the product on a global level. Variety of products that can be prepared with the help of these pre-mixes with short time span has a positive influence on cake mix market growth. Urbanization and changing food consumption trends have led to consumers demanding cake mixes on a global level.

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Latest Industry Updates:

Sep 2017 Dr. Oetker; one of the key players noted in the cake mix market, announced the launch of bake in the box cake mix. The product is a unique line introduced by the company which is anticipated to seek mass consumers' attention. The product is also made available in a range of flavors including double chocolate, lemon & poppy seed, and banana and choc chip.

Apr 2017 Unilever launched a new variety of liquid cake mixes under its Stork brand. The company is unique in terms of product formulation which has created a major product differentiation. The company aims to capture a wide consumer base with the launch of their unique offering in the cake mix range.

Jul 2016 Pristine; one of the bakery specialist in India launched their premium veg vanilla cake mix in the country. Innovations in the flavor and new product launch will help the company in penetrating the global cake mix market and generate high revenues based on escalating demand from the country.

May 2016 White Wings launched ‘Cake in a Cup'. The product is a cake mix product which allows consumers to cook cake in the cup using a microwave. The convenience baking technique will allow the company to generate high revenues by gaining consumers attention towards the product line.

Competitive Analysis:

With the entry of industry players in the cake mix segment, a trend of solid, volume-driven growth has been observed in the market with the development of different varieties of product types. The companies are found to be aiming to capture a considerable share of the market segment as early as possible. In order to fulfil this, they are focusing highly on new and unique product launches and acquisitions of small players to generate high revenues. The manufacturer's key strategy include high investments in product development to create product differentiation and gain consumers attention.

The key players profiled in cake mix are Dr. Oetker (Germany), Pillsbury (U.S.), Betty Crocker (U.S.), Pinnacle Foods Inc (U.S.), ArrowheadMills (U.S.), Krusteaz (U.S.), The French Cake Company (France), Italdecor (Italy), RMIX Alimentos Saudáveis Ltda (Brazil), Sudem Cake Mix and Products A.S. (Turkey) and Ghirardelli Chocolate Company (U.S.) among many others.

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Market Segments:

The Global Cake Mix Market has been divided into flavor, functionality, distribution channel and region.

On The Basis Of Flavor: vanilla, chocolate, strawberry, lemon and others

On The Basis Of Functionality: fat-free, sugar-free, gluten-free and others

On the Basis of Distribution Channel: Store-Based and Non-Store Based

On The Basis Of Region: North America, Europe, Asia Pacific and ROW.

Regional Analysis:

The global cake mix market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Global dietary market is highly dominated by Europe due to their high consumption of bakery products including cakes, breads and others. North America is evaluated to be growing at the fastest rate due to changing consumption pattern and high demand for sweetened bakery and convenience bakery products. The consumption of cake mix in developing countries is expected to grow in upcoming years based on the economy development and development of disposable income.

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