The global cake mix market has grown significantly in size and value in recent years. The increase in consumers’ disposable income has allowed them to spend unrestrictedly to satisfy their taste buds, which is reflected in the growing demand for cakes. The fact that the cake mix is easy to prepare and consume also significantly boosts this market. The introduction of the sugar-free and low-fat cake mix has a significant impact on this market and is expected to lead to further growth in this market in the coming years.
Cake Mix Market Size and Growth Rate:
The global cake mix market was worth $ 1.09 million in 2017. With a CAGR expansion of 3.60% between 2017 and 2022, it is expected to reach $ 1.31 million by the end of the forecast period.
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Cake Mix Market Growth Drivers and Restraints:
With the increase in production of high nutritional and allergen-free cake mixes, the growth potential of this market is expected to grow rapidly in the near future.
All over the world, people prefer to consume food products, which do not contain harmful chemical additives and consequently offers opportunities in these markets.
Geographical Overview of Cake Mix Market:
Asia-Pacific is expected to grow steadily in the near future as a result of population growth. It is also expected that Latin America, and the Middle East and Africa will experience healthy growth in their respective markets.
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Key Players of Cake Mix Market:
Some of the leading manufacturers of Cake Mix Market are General Mills Inc, Archer-Daniels-Midland Company, Associated British Foods, Pinnacle Foods Inc, Cargill Inc, Ingredion Incorporated, Hain Celestial Group Inc, Kerry Group, Continental Mills Inc, Chelsea Milling Company and others.
Cake Mix Market Segmentation:
By Cake Type:
- Angel Food Cake
- Layer Cake
- Chiffon Cake
- Cup Cake
- Cheese Cake
- Modern Trade
- Departmental and Traditional Grocery Store
- Convenience Stores
- Online Channels
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
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