Baking Mixes Market

Baking Mixes Market Outlook (2023 to 2033)

Worldwide sales of baking mixes are estimated at US$ 6.61 billion for 2023 and are predicted to climb to US$ 11.09 billion by the end of 2033. After expanding at a moderate 3.9% CAGR from 2018 to 2022, the global baking mixes market is set to exhibit expansion at 5.3% CAGR over the next ten years.

Bakery product consumption on a global level has been witnessing an upward trend on a global scale and this is anticipated to primarily augment sales of baking mixes in the future. Western countries currently account for a leading demand for bakery products as they use bread as a staple in their diets.

Rising awareness regarding the benefits of a plant-based diet, a growing vegan population, and increasing preference for clean-label baking ingredients and functional foods are other influential prospects that could favour demand for cooking mixes through 2033. Cheesecake mixes, biscuit mixes, all-purpose baking mixes, gluten-free cupcake mixes, organic cake mixes, and vegan cupcake mixes are some popular baking mixes that have a bright demand outlook going forward.

Expanding demand for frozen bakery products and organic bakery products will provide new opportunities to established as well as incoming companies in the baking ingredient space. Baking mix companies also have a unique opportunity of foraying into the pet food and nutrition space as demand for vegan and plant-based pet food increases around the world.

• In October 2022, Peterra Kitchen, a plant-forward pet food start-up founded in 2021, announced the launch of its new plant-based baking mixes that could be used to create dog treats or cat food mix-ins. The mixes are completely free from artificial ingredients, GMOs, and preservatives, thereby making them clean-label products.

More and more celebrities are trying to cash in on their fame by the launch of lucrative businesses with ideologies and standards that they live by. Plant-based diets and veganism are popular trends that are being advocated by celebrities and social media influencers as they launch businesses focused on these same trends.

• In October 2022, American model Chrissy Teigen’s lifestyle brand, Cravings by Chrissy Teigen announced the launch of its line of baking mixes. The mixes are based on Chrissy’s recipes and usually require the addition of one or two ingredients before baking.

Report Attributes	Details
Baking Mixes Market Size (2023)	US$ 6.61 Billion
Projected Market Value (2033F)	US$ 11.09 Billion
Global Market Growth Rate (2023 to 2033)	5.3% CAGR
South Korea Market Value (2033)	US$ 410.33 Million
Japan Market Growth Rate (2023 to 2033)	2.9% CAGR
China Market Value (2033F)	US$ 1.59 Billion
United States Market Value (2033)	US$ 2.24 Billion
Bread Baking Mix Demand Growth (2023 to 2033)	4.9% CAGR
Key Companies Profiled	Cargill Inc. Dawn Food Products Inc. General Mills Inc. Associated British Foods plc Archer-Daniels-Midland Company Pinnacle Foods Inc. Chelsea Milling Company Bob's Red Mill Natural Foods Inc. Hain Celestial Group Inc. Ingredion Incorporated

What’s Allowing Baking Mix Start-ups to Maximize Their Growth Potential?

“Veganism and Better-for-you Trends Supporting New Company Growth”

The world of baking mixes is filled with innumerable options and the localized nature of the bakery industry makes it an even harder one to penetrate. But some global trends could be identified by macro research and refined through micro research to improve their revenue generation potential such as veganism and better-for-you trends.

New baking mix manufacturers are specifically focusing on creating vegan baking mixes to reach out to a consumer base that is expected to expand immensely in the near future. Meanwhile, demand for bakery products containing functional ingredients and having a better nutritional value is rising rapidly and incoming baking mix companies could benefit from this if they play their cards right.

• In January 2023, Coconut Whisk, a vegan baking mix start-up based in the United States, announced the launch of its products in all of Kowalski’s grocery stores in Minnesota and is eyeing further expansion by raising funds going forward.
• Living Prana, a Hawaii-based functional food start-up launched in early 2022 is taking on organic pancake and waffle mixes by utilizing functional ingredients such as spirulina. The company had plans to reinvent traditional unhealthy foods by addition of superfoods, clean ingredients, and functional ingredients in the future.
• In February 2021, TruEats Modern Baking Co., a start-up focusing on providing better-for-you bakery mixes, featured an initial lineup of pancake, waffle, brownie, and muffin mixes. The products are diabetic-friendly, gluten-free, plant-based, and have no added sugars.

Aspects such as local supply, pricing trends, product standards, safety regulations, and new developments that govern the start-up landscape have been elaborately discussed in this brand-new baking mixes market study by skilled analysts at Fact.MR, a market research and competitive intelligence provider.

Country-wise Insights

What’s Fueling Baking Mix Demand in Asian Countries?

“Rising Interest in Home Baking and Adoption of Western Baking Culture”

The influence of Western culture has been increasing in Asian countries owing to rapid globalization and urbanization. The aforementioned factor has favored the adoption of Western baking trends and is anticipated to bolster baking mix shipments over the next ten years. Rising disposable income and busy lifestyles are predicted to favor market development in countries such as India, China, Japan, and South Korea throughout the forecast period.

• Baking mix demand in China is extrapolated to rise at a healthy 4.9% CAGR from 2023 to 2033 and amass a valuation of US$ 1.59 billion by the end of the forecast period.

More people than ever before are getting involved in home baking either as a hobby or as a small home business in Asian countries, which is also a major aspect that could favor market growth in the long term.

Should Baking Mix Companies Invest in the United States?

“Growing Demand for Gluten-free Products – Prime Remunerative Opportunity”

The United States has witnessed an upsurge in the number of people suffering from gluten intolerance and celiac disease, which has resulted in high demand for gluten-free products. Plant-based and gluten-free baking mixes are estimated to witness high sales in the United States over the coming years thereby generating attractive revenue for baking mix companies.

• Baking mix sales in the United States are extrapolated to amass a revenue of US$ 2.24 billion by the end of 2033 while rising at a modest 4% CAGR across the forecast period.

High consumption of bread as a staple food, the presence of key baking mix manufacturers, and increasing focus on health and fitness are other influential trends that could augment baking mix demand in the United States over the next ten years.

What Opportunities Does the United Kingdom Market Offer?

“High Demand for Artisanal Bakery Products and Growing Preference for Plant-based Food Products”

Demand for bakery products in the United Kingdom has been flourishing in recent years and this trend is projected to uplift shipments of baking mixes over the coming years. Consumer preference for artisanal bakery products is increasing rapidly in the country and this is projected to influentially augment baking mix sales going forward.

• Baking mix shipments in the United Kingdom are slated to rise at 4.6% CAGR over the next ten years and attain a revenue of US$ 820.67 million by the end of 2033

Growing demand for celebratory and seasonal bakery products in the United Kingdom could also create new opportunities for baking mix manufacturers as they could create specific offerings catering to these demands. Moreover, the rapidly increasing vegan population in the country is also expected to bolster sales of plant-based baking mixes across the forecast period and beyond.

Category-wise Insights

Mixes for Which Bakery Products are Most Popular?

“Bread Baking Mixes Account for High Demand”

The baking mixes market is segmented on the bases of product type and further classified as bread, cakes & pastries, biscuits & cookies, pizza dough, waffles, muffins & brownies, pancakes, frosting, and other bakery products.

Bread has emerged as one of the key staples across both developed and developing regions. Besides the consumption of regular bread, specialty breads infused with different flavors have become highly popular, prompting key manufacturers to introduce specialized bread baking mixes.

• Sales of bread baking mixes are anticipated to rise at 4.9% CAGR from 2023 to 2033.

Which Sales Channel is Set to Be the Most Profitable for Market Players?

“Modern Trade Channels to Lead Global Revenue Generation”

Based on distribution channel, the baking mixes market is segmented into modern trade, departmental & traditional grocery stores, convenience stores, online channels, and other retail formats.

Modern trade channels are estimated to account for more baking mix sales than any other distribution channel over the next ten years. The growth of retail infrastructure in developing and developed economies and the high availability of different types of baking mixes in modern trade establishments are also projected to benefit overall market growth potential in the future.

• Shipments of baking mixes through modern trade channels are estimated to rise at 4.7% CAGR over the next ten years.

Competitive Landscape

Top-tier baking mix manufacturers are focusing on collaborations and partnerships to launch products that stand out in the marketplace. Baking mix suppliers are also rebranding their products and streamlining marketing campaigns to improve sales potential and gain a competitive advantage over other market players.

• In March 2023, Snacktivist, a regenerative baking mix company, announced that it had completed its branding and packaging refresh and was ready to launch the same on all sales channels in 2023. The company’s new branding perfectly captures the appetite appeal and taste experience of products to stand out amongst the competition.
• In November 2022, Renewal Mill, a company focusing on climate-friendly baking partnered with Just Date, a specialty sweetener provider to create a gluten-free muffin mix using upcycled ingredients. The flavor launched was a Chai Oat muffin mix using upcycled oat milk from Renewal Mill and organic date sugar from Just Date.

Key Segments of Baking Mixes Industry Research

• By Product Type :

  • Bread
  • Cakes & Pastries
  • Biscuits & Cookies
  • Pizza Dough
  • Waffles
  • Muffins &Brownies
  • Pancakes
  • Frosting
  • Other Bakery Products

• By Distribution Channel :

  • Modern Trade
  • Departmental & Traditional Grocery Stores
  • Convenience Stores
  • Online Channels
  • Other Retail Channels

• By Region :

  • North America
  • Latin America
  • Europe
  • APAC
  • MEA