MENA and Philippines Cake Mixture
MENA And Philippines cake mixture market size was $253.2 million in 2021 and is expected to reach $413.5 million by 2031, registering a CAGR of 5.1%
— Allied Market Research
PORTLAND, OREGON, UNITED STATES, October 6, 2023 /EINPresswire.com/ — Home-based bakeries have grown in popularity in recent years as they provide entrepreneurs with a profitable way to enter the cake mixture market. The increase in the number of home bakeries has had a positive impact on the cake mixture market. There is an increase in demand for high-quality cake mixtures that can help them achieve professional results as more people start baking cakes at home.
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The key players profiled in MENA and Philippines cake mixture industry report include Archer-Daniels-Midland Company, General Mills, Inc., Associated British Foods PLC, Chelsea Milling Company, Ingredion Incorporated, Conagra Brands, Inc., Hometown Food Company, Kerry Group P.L.C., The Krusteaz Company, Al Babtain Biscuit Manufacturing & Foodstuff CO. LTD., Riyadh Food Industries Company, AlBabtain Food, Dawn Food Products, Inc., United Food Industries, and al alali.
Home bakers often prefer cake mixture as they are easy to use and save time compared to making cake batter from scratch. Therefore, cake mix manufacturers have an opportunity to capitalize on this trend by creating products that meet the needs of home bakers. Manufacturers can meet the surge in demand for homemade cakes and capitalize on the popularity of home-based bakeries by providing convenient, high-quality cake mixes resulting an increase in MENA and Philippines cake mixture market size.
Premium cake mixture is often made with premium ingredients like organic flour, real vanilla extract, and premium chocolate, appealing to consumers looking for healthier, more natural products. Therefore, companies offering premium cake flour can capitalize on increased demand for premium products and expand their customer base, thereby driving the growth and profitability of the cake mixture market.
The surge in demand for healthier and nutritious options is a major driver for the growth of the cake mixture market. Consumers are increasingly health conscious and looking for options with less sugar, fat, and calories. Cake mixture manufacturers are responding to this trend by developing healthier options, such as low-fat and low-sugar cake mixes, gluten-free cake mixes, and organic cake mixes, such factor help in surge the MENA and Philippines market share.
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These healthier options surge the demand for healthier products, but also appeal to consumers who are willing to pay premium prices for premium ingredients. In addition, the incorporation of nutrients such as whole grains, nuts, and seeds also increases the nutritional value of cake mixture, making it an appealing option for health-conscious consumers. As a result, the cake mixture market has experienced significant growth and is expected to continue growing as manufacturers continue to develop and release healthier and more nutritious options helps MENA and Philippines cake mixture market to grow.
Packaging and presentation play an important role in the growth of the cake mixture market. Manufacturers have invested in attractive and innovative packaging to attract consumers and increase product visibility on store shelves. Eye-catching packaging can differentiate a product from its competitors and create an emotional connection with consumers, which results in MENA and Philippines cake mixture market trends.
Based on product cake mix segment held the major share in the market and expected to dominate during the forecast period due to increase in trend of fast food and ready to eat food in the developing and the developed regions surge the demand for cake mixture products. However, vanilla segment is expected to grow with the highest CAGR of 6.8% during the forecast period in the MENA and Philippines cake mixture market.
On the basis of type, layer cake segment held the major share in the market and expected to dominant during the forecast period due to in terms of trends in the cake mixture market, there has been a growing interest in layer cakes in recent years, particularly in the home baking and cake decorating communities. Moreover, the mug cake segment is expected to grow with the highest CAGR of 6.7% during the forecast period, results in MENA and Philippines cake mixture market Opportunities.
By distribution channel, supermarket held the major share in 2021 and expected to dominant during the forecast period. The cake mixture section in supermarket offers a variety of options, such as traditional cake mixes, gluten-free and vegan cake mixes, low sugar, and calorie cake mixes and organic or natural cake. However, Online segment is expected to grow with the highest CAGR of 6.0% during the forecast period results in MENA and Philippines cake mixture market growth.
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Key findings of the study
The MENA and Philippine cake mixture market was valued at $253.2 million in 2021, and is estimated to reach $413.5 million by 2031, registering a CAGR of 5.1% from 2022 to 2031 MENA and Philippines cake mixture market forecast.
By product, the vanilla segment is estimated to witness the fastest growth, registering a CAGR of 6.8% during the forecast period in the MENA and Philippines cake mixture market.
In 2021, depending on type, the mug cake segment was valued at $56.93 million of the MENA and Philippines cake mixture market share.
By distribution channel, the online segment is estimated to witness the fastest growth, registering a CAGR of 6.0% during the forecast period in the MENA and Philippines cake mixture market.
Saudi Arabia was the most prominent country in the MENA and Philippines cake mixture market, and is projected to reach $119.9 million by 2031, growing at a CAGR of 5.3% during the forecast period.