Global Muffins Market 2017-2021
A muffin is a baked snack that can be sweet or savory. It is similar to cupcakes or mini cakes in appearance. The difference is that muffins are available in two tastes whereas cupcakes are only sweet and generally decorated with cream and other items.The global muffins market can be segmented by several ways depending on flavors, region, and distribution channel. Generally, the broad classification of muffins is American muffins, English muffins, and artisanal or packaged muffins.
Technavio’s analysts forecast the global muffins market to grow at a CAGR of 3.64% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global muffins market for 2017-2021. To calculate the market size, the report considers both volume and value of the global muffins market..The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Muffins Market 2017-2021
Technavio recognizes the following companies as the key players in the global muffins market: AB, Bruegger’s Enterprise, Einstein Noah Restrant Group, Grupo Bimbo, and George Weston Foods.
Other Prominent Vendors in the market are: Aryzta, Britannia, EDEKA Group, Flowers Foods, Hostess Brands, MCKEE FOODS, Monginis, and United Biscuits.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Healthy options to gain market share. In recent times, the trend of weight loss and being healthy is witnessed all over the world. The impact of this trend is most prominent in the food and beverages sector. In order to meet the health requirements of consumers and to differentiate their products in the market, vendors are coming up with products made with whole wheat, whole grains, or multigrain. This is also applicable for bakery products like muffins, and vendors are incorporating healthy ingredients to enhance the end product's nutrient value and reduce the calorie content.”
According to the report, one of the major drivers for this market is Growing demand for portion-snacking products. The rising demand for muffins in recent times can be attributed to the rise in demand for portion-snacking products. With the increasing focus on health, people now have these high-calorie products in controlled portions and sizes to maintain their calorie intake. Consumers are now experimenting with new flavors but at the same time, they are focusing on health-related aspects of what they consume. Portion-controlled food not only allows them to have whatever they want but also keeps a check on what they consume. This consumer behavior has started a trend in the bakery and confectionary industry.
Further, the report states that one of the major factors hindering the growth of this market is Inflated costs and availability of substitute snacks in emerging economies. Muffins and other bakery products are highly popular in Western countries. Therefore, the prices offered by the vendors are according to the disposable income in these regions. Although they try to incorporate the purchasing capacity of local consumers when they decide the selling price of new products, prices cannot be lowered beyond a certain limit to retain the minimum profit. The inflated cost of muffins affects the overall sales and thus increases the cost of production. Vendors also get affected in such situations as they cannot reach the economies of scale and scope.
AB, Bruegger’s Enterprise, Einstein Noah Restrant Group, Grupo Bimbo, George Weston Foods, Aryzta, Britannia, EDEKA Group, Flowers Foods, Hostess Brands, MCKEE FOODS, Monginis, and United Biscuits.