New York, Aug. 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Pancake Mixes Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)" - https://www.reportlinker.com/p06484118/?utm_source=GNW
The Pancake Mixes Market size is expected to grow from USD 546.85 million in 2023 to USD 712 million by 2028, at a CAGR of 5.42% during the forecast period (2023-2028).
The changes in consumer behavior and demand, purchasing patterns, re-routing of the supply chain, dynamics of current market forces, and the significant interventions of governments are the major factors that affect the pancake mixes market. Convenience is still a driving factor when it comes to breakfast, and pancakes have increased in popularity as consumers seek inexpensive and simple meals at home rather than dining out.
As pancakes require little preparation time and are readily available in many fast food chains and restaurants, pancakes are frequently consumed as a convenience food. Additionally, the demand for pancakes among working people has increased due to factors including their quick preparation and related health benefits. Due to factors such as busy lifestyles and less time available for cooking, consumers often prefer packaged pancake mixes. However, the high incidence of digestive health problems, weight management issues, and the demand for nutritious food is fuelling the overall demand for gluten-free items. Thus, market players have started offering gluten-free pancake mixes.
Other factors, such as the development of new products, improvement in taste and versatility, and high levels of marketing support, are helping to increase the overall demand for pancake mixes.
Pancake Mixes Market Trends
Rising Popularity of Gluten-free Pancake Mixes
The rise in demand for healthier and innovative food products among customers has fueled the pancake market’s expansion. To meet the growing demand, manufacturers are introducing new pancake varieties with components including gluten-free and vegan. Changing to healthier lifestyles, increasing awareness concerning healthy eating, and growing knowledge of celiac diseases among consumers is the prime factor contributing to the higher consumption of gluten-free food products. The ease of digestion, the need or desire to avoid allergens, compatibility with vegetarian and vegan lifestyles, and concerns about sustainability are some associated factors stimulating the purchase of such foods.
The growing prevalence of gluten intolerance and celiac allergies is the primary reason for boosting the demand for gluten-free pancake mixes across the globe. According to the celiac UK report 2022, Coeliac disease affects at least 1 in 100 people in the United Kingdom and Europe; however, only 36% of people with the condition are currently clinically diagnosed. Thus, the increased consumer demand for nutritious products and the rising clean-label claims on products support the global market gro h. Gluten-free products are also increasingly viewed as specialty products that can offer an ideal substitute for wheat-, barley- or rye-based products. Consumers have also shown high interest in fortified flours and mixes with gluten-free label claims. The gluten-free trend has provided opportunities for manufacturers to improve the ingredient formulation and introduce substantial innovation with the organoleptic characteristics of food products.
North America Holds a Significant Share in the Global Market
Pancakes are the most popular breakfast option in North America and are enjoyed among all age groups. The majority of people in North America often eat pancakes for breakfast. Its regional sales performance has been fueled by the increase in working people and their dependence on ready-to-eat breakfast. The convenience level of pancake mixes helps to increase the total demand in the market. The United States market is among the most advanced and sophisticated in the world. Most food product categories have established markets, and there is great room for the volume growth of pancakes. The main factors driving this market are the growing interest in health and wellness, clean labeling, and convenience.
Moreover, changing food consumption behavior among consumers increased willingness to spend on such food, and the lack of time to cook at home are driving the market growth in the region. Consumers nowadays prefer whole-grain pancake mixes due to their inclination toward leading a healthy lifestyle. Companies are also focusing on expanding product portfolios to appeal to a broader base of consumers to strengthen the long-term prospects of healthier foods.
Pancake Mixes Industry Overview
The pancake mixes market is fragmented and is driven by various active players. There are numerous prominent players in the market, such as Continental Mills, Inc. d PepsiCo. Inc, General Mills, C.H. Guenther & Son LLC, and Bob’s Red Mill Natural Foods. The major players have used new product launches, expansions, joint ventures, partnerships, acquisitions, and others to increase the market growth. For instance, In September 2021, General Mills India launched its ready-to-cook (RTC) two minutes Pillsbury Pancakes brand in India. The Pillsbury Pancakes come in two variants – Choco Chip and Funfetti.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
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