The global vegetable-based baking mixes market is expected to post a CAGR of over 8% during the period 2018-2022, according to the latest market research report by Technavio.
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Technavio has published a new market research report on the global vegetable-based baking mixes market from 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the market is the growth in organized retailing. There has been a significant rise in the establishment of supermarkets, hypermarkets, and specialty stores owing to the worldwide growth of organized retailers. RTE foods and baked goods are mainly sold by large organized retailers, and vendors in the market are highly dependent on these large organized retailers for the distribution of their products.
As per Technavio, innovations in packaging will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global vegetable-based baking mixes market 2018-2022 research report also analyzes other important trends and market drivers that will affect market growth over 2018-2022.
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Global vegetable-based baking mixes market: Innovations in packaging
A major factor of differentiation for manufacturers of bakery ingredients such as vegetable-based baking mixes is packaging. Through inventive packaging and branding, an accessible positioning of the product can be achieved. Therefore, packaging is establishing itself as a major aspect of brand marketing, and key vendors are constantly innovating with it in their product offerings. Packaging is also a medium of differentiation between vendors, with labeling information such as the content of the product, the story of the brand, nutritional information, tagline, colors, and packaging material.
“Convenience is fast becoming a major factor for modern customers, especially for millennials, who are increasingly consuming RTE foods and are also establishing a growing customer segment for bakery products. The growing adoption of on-the-go food consumption is driving the demand for packaging sizes, and pouch and flexible packaging varieties, owing to their convenience factor,” says a senior analyst at Technavio for research on food.
Global vegetable-based baking mixes market: Segmentation analysis
This market research report segments the global vegetable-based baking mixes market by distribution channel (supermarkets and hypermarkets, and specialty and convenience stores) and geographical regions (APAC, EMEA, and the Americas).
The supermarkets and hypermarkets segment held the largest market share in 2017, accounting for over 55% of the market. This distribution channel segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2017 with a market share of over 62%. This region is expected to dominate the market through 2022, however there will be a decrease in its market share.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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