The global bakery premixes market size was valued at US$ 384 million in 2022 and is poised to grow from US$ 406 million in 2023 to US$ 544 million by 2028, growing at a CAGR of 6.0% in the forecast period (2023-2028).
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Crafting Convenience: The Cake Segment's Upward Trajectory
The cake segment within the bakery premixes market is poised for remarkable growth, boasting the highest projected Compound Annual Growth Rate (CAGR) in the upcoming forecast period. This surge in demand is fueled by the increasing consumer inclination towards convenient baking solutions, coupled with the burgeoning trend of home baking. Bakery premixes offer a hassle-free solution for delectable crafting cakes, catering to the needs of both novice and seasoned bakers alike. The allure of convenience has become a key driver in the cake segment, particularly as urbanization, busy lifestyles, and rising disposable incomes prompt consumers to seek ready-to-use baking solutions. Manufacturers, attuned to this evolving landscape, are introducing innovative and diverse cake premix offerings, striking a balance between quality and convenience. For instance, South Bakels (South Africa) offers customizable cake premixes, allowing consumers to tailor their baking creations according to their preferences. This anticipated growth underscores the substantial market potential for cake premixes, positioning it as a focal point for industry players keen on capitalizing on the expanding bakery segment.
UK: A Beacon of Innovation in the European Bakery Premixes Market
The UK is poised to maintain its dominant position within the European bakery premixes market, thanks to its unwavering commitment to product development and adeptness at adapting to changing consumer preferences. The British bakery industry stands out for its innovative spirit, continually introducing new flavors, healthier options, and convenient solutions that resonate with modern lifestyles. Renowned for its culinary expertise and adherence to stringent quality standards, the UK enjoys a global reputation that further bolsters its leadership in the European bakery premixes sector. British brands are synonymous with quality, fostering trust among consumers and business partners alike, thereby contributing to the country's sustained dominance.
In June 2023, Puratos (Belgium), a global leader in bakery premixes, introduced a new brioche bakery mix, Easy Soft’r, to the UK market. This innovative product facilitates the production of high-quality brioche products, boasting a soft, moist crumb and prolonged freshness. Such initiatives create ample opportunities for growth in the UK market by aligning traditional recipes or formats with current consumer priorities.
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Influence and Innovation: Key Players in the Bakery Premixes Market
Prominent industry players such as Puratos (Belgium), ADM (US), Cargill, Incorporated (US), Nestle (Switzerland), DSM (Netherlands), and Oy Karl Fazer Ab. (Finland) wield substantial influence in the bakery premixes market. These entities boast robust manufacturing facilities and well-established distribution networks across pivotal regions, ensuring widespread accessibility of their products. With their finger on the pulse of consumer preferences and a commitment to innovation, these industry giants continue to shape the landscape of the bakery premixes market, driving growth and meeting the evolving needs of consumers worldwide.
