May 27, 2020
According to a recent study titled ‘Prepared Flour Mixes Market Size By Product , By End-Use Industry Outlook Report, Regional Outlook , Application Development, Price Trends, Competitive Market Share & Forecast, 2019 – 2026’, available with Market Study Report LLC, global prepared flour mixes market is projected to register an appreciable growth rate through 2026.
Global prepared flour mixes market is primarily driven by the escalating demand for convenient ready-to-eat foods products along with proliferating consumption of bakery items globally.
Prepared flour mix is a combination of various dry ingredients such as salt, sugar, fat, and flours, formulated specially to prepare a particular product. These mixes require addition of only liquid ingredients like eggs, milk, oil, or yeast, depending on the end-product. Ease of use, cost-efficiency, and time saving benefits are the key factors encouraging the use of prepared flour mixes.
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Based on the product type, the market is categorized into bread mixes, pastry mixes, batter mixes, and others. Others segment including energy bars and other breakfast products, held about 5% market share in 2018. Increasing intake of energy bars as breakfast, meal replacement, and snacks among people with fast-paced lifestyle is fueling the segment growth. Moreover, companies such as GORP are offering prepared energy bar mixes that enables customers to prepare “do-it-yourself” energy bars, hence boosting the product penetration.
Speaking of the end-use spectrum, prepared flour mixes industry is classified into household, bakery shop, food processing industry and others, among which household segment is expected to see modest gains over the forecast timeline. Consumer inclination towards preparing high-quality and nutritious bakery items at home, coupled with the availability of wide variety of premixes for cakes, cookies and other bakery items are stimulating the segment growth.
Other end-use sectors accounted for 11% market share in 2018, owing to increase in the number of quick service restaurants and fast food chains. Restaurants are opting for prepared flour mixes due to time-saving benefits, high convenience, and improved efficiency which are crucial in such settings.
Considering the regional outlook, Asia Pacific prepared flour mixes market is predicted to witness significant gains over the projected timeline. Rising disposable income, changing dietary preferences in nations like China as well as rapid expansion of fast food and quick service chains are supporting the industry outlook in APAC.
Latin America accounted for 3% market share in 2018 and is expected to gain decent traction in the coming years, owing to growing consumer inclination towards high-end, organic, and artisanal food products in countries like Brazil.
Prepared flour mixes industry in Middle East & Africa is also slated to experience lucrative growth over the forecast duration, owing to increasing investments by manufacturers in region for development of new products. In addition, growing interest of major companies, like Kells towards expanding their chains further in the region is enhancing the industry growth in MEA.
Major players operating in global prepared flour mixes market are Lesaffre, Archer Daniel Midland (ADM), Bakels, Echema Technologies, Puratos, Luscombe - Allied Mills, Grand Place Puratos, Nisshin Seifun Group, Yihai Kerry, Pondan Pangan Makmur, and Rich Products Corporation among others.