Baking Mix & Prepared Food Production in the US
The Baking Mix and Prepared Food Production industry produces a variety of products, including perishable foods such as salads, prepared meals and sandwiches, sweetening syrups, dried and dehydrated ingredients, dessert mixes, flavoring powders and egg products. The industry has benefited from rising per capita disposable income over the five years to 2019, as well as rising full-time employment, which bolsters demand for convenient foods since working individuals typically have less time to cook. Additionally, manufacturers introduced a variety of healthier prepared foods, appealing to an increasingly health-conscious consumer base. These healthier product alternatives are often more costly to manufacture but also command premium retail prices. Over the past five years, domestic operators have had an advantage over international importers as they have properly adapted to satisfy shifts in consumer demand and new dietary preferences. Due to increasing health consciousness among consumers, health scares over contaminated products have curbed imports. During the same five-year period, many domestic operators have launched versatile product innovations that cater to healthy dietary trends and other varied demands of consumers. Over the five years to 2024, increasing disposable income and employment will help drive consumer demand for value-added products such as prepared and spiced foods, which save time during meal preparation. In addition, the trend of growing health concerns among consumers is expected to continue as consumers seek fresh ingredients instead of processed foods.
Operators in this industry produce perishable prepared foods, such as sandwiches, meals and peeled or cut vegetables. Industry operators use dried and dehydrated ingredients to produce dessert mixes, flavoring powders and processed eggs.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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