Cake Mix Market in the US 2017-2021
About Cake Mix
A cake mix is generally mixed with water and eggs to make a cake. Cake can be easily prepared by adding the premix, hydrogenated fat or butter, water, and baking batter in a baking oven for a specific period of time. The advantage of using cake mix is the convenience of eliminates the drudgery of purchasing ingredients in small quantities and weighing and creaming them separately for long durations during the preparation of batter, which is a cumbersome process. Consistent and quality products can be prepared by using cake mixes.
Technavio’s analysts forecast the cake mix market in the US to grow at a CAGR of 2.50% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the cake mix market in the US for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.Technavio's report, Cake Mix Market in the US 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Cake Mix Market in the US 2017-2021
Technavio recognizes the following companies as the key players in the cake mix market in the US: Dr. August Oetker KG, General Mills, Hain Celestial, Hodgson Mill, and Pinnacle Foods.
Other Prominent Vendors in the market are: Better Batter Gluten Free Flour, Bob’s Red Mill Natural Foods, Continental Mills, Chelsea Milling, Dawn Food Products, Ghirardelli Chocolate, It's Wholesome, Kenyon Corn Meal, King Arthur Flour, Martha White, Naturally Nora, Paleo Baking, and Weisenberger Mills.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is innovation in packaging. Packaging plays a significant role in the growth of the market. Good quality of packaging increases the shelf life of products. Manufacturers are coming up with different packaging for cake mix in the US. New modes of packaging such as stand-up pouches are gaining popularity in the cake mix market in the US.”
According to the report, one driver in the market is increase in home-based baking. The cake mix market in the US is driven by the home-based baking of cakes, cupcakes, and confectionery food products. Consumers are increasingly becoming health conscious and baking products at home. Approximately 61% of adults in the US pay attention to nutrition-specific labels on food items so they can purchase and consume healthy food to manage their weight. Consumers are more inclined toward making food products according to their tastes and preferences. The popularity of television shows focusing on cakes and cupcakes have increased the interest of baking at home in return where consumers will buy cake mix for easy cooking.
Further, the report states that one challenge in the market is product recall and contamination. A major challenge to the growth of the cake mix market is the recall of products by manufacturers due to various issues. There is an increase in incidences of product recalls in recent years, which highlights the issue of product safety in global supply chains. Any product recall can damage the brand equity and the company's reputation severely. For example, in July 2016, General Mills recalled three kinds of cake mix under the Betty Crocker brand. The products were voluntarily recalled over concerns that they may be contaminated with E. coli.
Dr. August Oetker KG, General Mills, Hain Celestial, Hodgson Mill, Pinnacle Foods, Better Batter Gluten Free Flour, Bob’s Red Mill Natural Foods, Continental Mills, Chelsea Milling, Dawn Food Products, Ghirardelli Chocolate, It's Wholesome, Kenyon Corn Meal, King Arthur Flour, Martha White, Naturally Nora, Paleo Baking, and Weisenberger Mills.
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