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The Pancake Mixes Market size is projected to increase by USD 1.64 billion and the market size is estimated to grow at a CAGR of 5.71% between 2023 and 2028. This pancake mixes market report extensively covers market segmentation by distribution channel (offline and online), product (dry pancake mixes (DPM) and liquid pancake mixes (LPM)), and geography (APAC, North America, Europe, South America, and Middle East and Africa). Our pancake mixes market growth and forecasting report examines historical data from 2018-2022, besides analyzing the current market scenario.
Innovations in packaging and the growing demand for multigrain pancake mixes are pivotal drivers of market expansion in the breakfast food and Syrups Market sectors. Enhanced packaging quality extends product shelf life, while industry efforts to innovate packaging aim to enhance product visibility and consumer appeal. Additionally, the trend towards multigrain pancake mixes reflects increasing consumer awareness of ingredient quality in baking mixes, with preferences shifting towards healthier options. Many market players are poised to introduce multigrain pancake mix variations to cater to health-conscious consumers, thereby fueling pancake mixes market growth in the forecast period.
The Pancake Mixes Market shows an Accelerate CAGR during the forecast period.
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Growing demand for gluten-free pancake mixes is the primary trend shaping pancake mixes market growth. The gluten-free food market in Western countries is growing due to more numbers of health-conscious people and awareness about celiac disease. It is estimated that 82% of Americans with celiac disease are still undiagnosed. Also, there is no medication available to cure this disease, and the only way to avoid it is to switch to gluten-free product offerings. Factors including high incidences of digestive health problems, weight management issues, and demand for nutritious food are raising the overall demand for gluten-free food items.
Amid high rates of gluten intolerance and celiac diseases, various health organizations are launching initiatives supporting the consumption of gluten-free bakery products. Therefore, market players have started offering gluten-free pancake mixes. Consequently, many brands are anticipated to come up with gluten-free pancake mixes during the forecast period, which would increase the overall revenue of the market.
Harmful ingredients used in pancake mixes is a challenge that affects pancake mixes market growth. Harmful ingredients are partially hydrogenated oil, and several studies have validated that partially hydrogenated oil contains trans-fat, which raises LDL (low-density lipoprotein) cholesterol, lowers HDL (high-density lipoprotein) cholesterol, and has other harmful effects. Hence, many end-consumers avoid buying packaged pancake mixes or syrups and try preparing batter themselves.
Moreover, since people are increasingly becoming conscious about the ingredients used in the products they consume, it is imperative for players not to use ingredients that can harm the overall health of consumers. Hence, such factors are anticipated to impede the growth of the market in focus during the forecast period.
The dry pancake mixes market holds the largest share of the global pancake mixes market, with several market players delivering a dry variety of pancake mixes where the requirement is just water. Market players are coming up with various innovations in dry pancake mixes to attract consumers. Furthermore, the emergence of online shopping platforms has made it simpler for customers to obtain a variety of dry pancake mixes, which has helped this market segment expand internationally. Thus, such innovations and trends are expected to help the dry pancake mixes segment grow significantly and increase the overall revenue of the global pancake mixes market during the forecast period.
The market share growth by the offline segment will be significant during the forecast period. The global pancake mixes market has traditionally been helped by offline distribution channels, which give buyers the opportunity to access a large range of products. Pancake mix purchases are still continually made in physical retail establishments, including supermarkets, hypermarkets, and convenience stores. In-store advertisements and displays can also affect consumer choices.
The offline segment was valued at USD 3.37 billion in 2018.
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Additionally, consumers are more likely to trust and feel acquainted with offline channels, making them the preferred option for individuals looking for pancake mixes. Despite the expansion of e-commerce, the offline distribution channel remains dominant, providing accessibility and convenience to a large consumer base. Owing to these factors, the market in focus is expected to grow during the forecast period.
APAC is estimated to contribute 33% to the growth of the global market during the forecast period
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The growth of the global pancake mixes market in APAC is primarily attributed to the growing demand for processed foods in the region, particularly in countries such as India, China, Vietnam, and Japan. The increasing number of working professionals, along with the growing number of nuclear families, has further raised the demand for processed foods in the region. Hence, these factors have significantly contributed to the growth of the processed foods industry, thus positively impacting the growth of the regional pancake mixes market during the forecast period.
Moreover, the increasing popularity of instant soup is also influencing consumer preferences and driving growth in the processed foods sector across APAC
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.
The pancake mixes market growth analysis 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 pancake mixes market forecast report predicts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Market Scope |
|
Report Coverage |
Details |
Page number |
157 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.71% |
Market Growth 2024-2028 |
USD 1.64 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.22 |
Regional analysis |
APAC, North America, Europe, South America, and the Middle East and Africa |
Performing market contribution |
APAC at 33% |
Key countries |
US, China, India, Germany, and the UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Basic American Foods, Bobs Red Mill Natural Foods Inc., C.H. Guenther and Son Inc., Castle Kitchen Foods Corp., Continental Mills Inc., Fibro Foods Pvt. Ltd., FlapJacked, General Mills Inc., Greens Desserts UK Ltd., Hodgson Mill, Hometown Food Co., LITTLE CHERRY MOM, Manildra Flour Mills Pty. Ltd., Pamelas Products Inc., PepsiCo Inc., Premier Foods Plc, Sovos Brands Inc., Swiss Bake Ingredients Pvt. Ltd., Vedant Food Solutions, and Balticovo |
Market dynamics |
Parent market analysis, Market forecasting, Pancake mixes market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and pancake mixes market worth and condition analysis for the forecast period. |
Customization purview |
If our pancake mixes market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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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 Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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