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The muffins market size is forecast to increase by USD 1.50 billion, at a CAGR of 3.54% between 2023 and 2028. Market growth hinges on several factors, such as rising consumer demand for portion-snacking products, a growing preference for gluten-free and health-conscious bakery foods, and the expansion of organized retail and private label offerings. The increasing popularity of portion-snacking products reflects changing consumer lifestyles and preferences for convenient, smaller-sized snacks. Simultaneously, the demand for gluten-free and healthy bakery items underscores a broader shift towards wellness-oriented eating habits. Organized retail channels and private labels are pivotal in meeting these evolving consumer preferences, offering a diverse range of products tailored to market demands. This convergence of trends not only drives innovation within the bakery and snacking sectors but also fosters competitive dynamics among retailers and brands. As market players adapt to these trends, leveraging product innovation and retail strategies becomes crucial in capturing market share and sustaining growth in a competitive landscape shaped by evolving consumer expectations. It also includes an in-depth analysis of market trends and analysis, market growth analysis and challenges. Furthermore, the report includes historic market data from 2018 - 2022.
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The market is diverse and dynamic, offering a range of options from traditional to innovative. Key ingredients like dough, eggs, and various bakery ingredients form the foundation, while whole grains alternatives and unusual ingredients cater to health-conscious and adventurous consumers. Whether through in-store muffin offerings or packaged muffin varieties, bakeries emphasize healthy bakery ingredients to counterbalance potential concerns over high calorie food products. This market thrives on creativity and consumer preference for wholesome options, blending traditional flavors with innovative twists to meet evolving tastes and dietary needs. As demand grows for nutritious snacks and convenient treats, the muffins market continues to expand its offerings, ensuring there's something for everyone seeking delicious and satisfying baked goods. The market is evolving with a focus on healthier alternatives and innovative flavors. Consumers seek muffins made from whole grains, natural ingredients, and healthier substitutes to combat health adversities associated with high-calorie food products. Bakeries, including in-store bakeries and producers of private label products, are incorporating minimally-processed ingredients and exploring novel desserts and confectioneries to meet the demand for nutritious options.
The growing demand for portion-snacking products is notably driving market growth. The popularity of muffins in recent years has increased because people are looking for convenient, single-serving snacks. People can now purchase these high-calorie products in more manageable serving sizes as a result of the rising awareness about the importance of health. People are increasingly willing to experiment with new flavors while still paying attention to the nutritional value of the foods they consume.
Moreover, baking and candy-making have noticed a shift in consumer preference as a result of this pattern. This fad has developed because of the growing consciousness of the link between diet and health and the understanding that the high butter and sugar content of these sweets might contribute to unwanted weight gain. Thus, producers are concentrating on introducing new products with smaller serving sizes to entice buyers. Manufacturers are now embracing the current trends in their products to create a better quality product rather than simply adding value to the number, leading to high growth of the market. Hence, these factors will boost the market growth during the forecast period.
The increasing trend of savory muffins is an emerging trend in the market. Consumer tastes and preferences are changing, and many are willing to experiment with the foods they consume, including bakery and confectionery products. In line with this, traditionally sweet muffins are now available in savory varieties as well. Cardiovascular diseases drive the demand for sugar substitutes and non-conventional muffin ingredients that cater to dietary preferences and health-conscious choices. The market also embraces savoury muffins and flavours beyond traditional offerings, appealing to diverse palates. Supply channels for baked products include both in-store muffins and packaged muffins, offering convenience and variety to consumers looking for convenient bakery options. With an emphasis on innovative food products, the muffins market continues to expand with creativity and a commitment to meeting nutritional needs through delicious, wholesome treats.
Further, cheese, parsley, meat, and other fillings are common ingredients in savory muffins. Many bakers are also experimenting with sweet and savory flavors in muffins to give them a unique flavor. Therefore, the availability of different flavors of muffins is expected to increase their consumption and drive the demand for the global market during the forecast period.
Inflated costs and the availability of substitute snacks in emerging economies are major challenges impeding market growth. Bakery goods, such as muffins and bread, are very common in Western countries. Vendors in these areas base their rates on the amount of money that residents can afford to spend. Companies do take into account local consumer spending power when setting prices for new items, but there is a floor below which they cannot go without incurring a loss in profit. The increased price of muffins has a ripple effect on production costs and overall sales. Similarly, vendors suffer when they are unable to take advantage of economies of scale and scope.
Furthermore, street food culture and genuine snacks are extremely popular in the developing countries of Asia and Africa. Muffins and other baked goods can't replace the importance of this lifestyle. This has been mitigated somewhat by greater globalization, but it is still not as common in these developing countries as it is in advanced economies like the US and the UK. Muffins are more expensive than street food and locally-produced snacks. Therefore, these factors are expected to pose a challenge to the global market growth during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
BAB Inc.: The company offers varieties of food and beverage products, such as handcrafted bagels, muffins, and more.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the offline segment will be significant during the forecast period. This section includes department stores, supermarkets, hypermarkets, convenience stores, and coffee shops. This segment's sales are being driven by the expanding retail industry and the proliferation of retail locations. These establishments give consumers an extensive selection of bakery goods and the convenience of obtaining everything under one roof.
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The offline segment was valued at USD 6.26 billion in 2018. In the organized retail sector, companies operate based on geographical presence, ease of production and inventory management, and transportation of goods. Convenience stores carry packaged muffins from both international and regional manufacturers. As these stores maintain stocks, they acquire products every day, allowing customers to purchase fresh and nutritious food items. Independent retailers are independent owners who have constructed their retail establishments by evaluating the personnel, marketing, merchandising, and sales requirements of businesses. As the number of independent merchants increases worldwide, muffin sales through this channel are anticipated to rise. Hence, muffin demand from offline distribution channels will increase during the predicted period.
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North America is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The US and Canada are among the largest markets in North America. As people in the region place a greater emphasis on health and include more healthy foods in their diets, the demand for healthy bakery goods is rising in North America. Moreover, as obesity rates in the United States continue to rise, so does the demand for healthier bread items.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
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The market caters to diverse consumer preferences and lifestyles through a variety of distribution channels. From traditional retailers and malls to organized retail stores and convenience stores, muffins are accessible in both specialty stores and online retail platforms. Consumers, including the younger generation, seek out handmade bakery products and customized items from artisanal or in-store bakeries and are drawn to exotic flavors and non-conventional ingredients for culinary experimentation. As concerns over health problems like obesity and high blood sugar persist, there's a growing demand for healthier muffin options made with whole grains and lower calorie counts. The market responds with innovations in muffin flavors and freshly baked products that cater to evolving tastes while promoting nutritional awareness. This dynamic sector not only reflects changing consumer habits but also addresses global health challenges amidst rising world obesity rates. Between meal snacks like muffins from in-store bakery products are gaining popularity in convenience stores and specialty stores, especially among those seeking high calorie foods and private label items in the baking industry.
Industry Scope |
|
Report Coverage |
Details |
Page number |
166 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.54% |
Market growth 2024-2028 |
USD 1.50 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
3.38 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 42% |
Key countries |
US, China, UK, Germany, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alpha Baking Co. Inc., ARYZTA AG, Associated British Foods Plc, BAB Inc., Bakeline Snc, Britannia Industries Ltd., Corporativo Bimbo SA de CV, EDEKA ZENTRALE Stiftung and Co. KG, Einstein Noah Restaurant Group Inc., FlapJacked, Flowers Foods Inc., GrainCorp Ltd., McCain Foods Ltd., McKee Foods, Mondelez International Inc., Prager Brothers, Promise Gluten Free, Sprightlite Foods Pvt. Ltd., The Hershey Co., and Warburtons Ltd. |
Market dynamics |
Parent market analysis, Market forecast, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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