The global bread mix market is expected to reach $5.32 billion in 2024, fuelled by a shift towards artisanal baked goods and health-conscious consumer preferences. Bread Mix Market to Grow Steadily, Driven by Consumer Demand for Artisanal and Health-Focused Products ROCKVILLE, MD – 22 July 2024 The global bread mix market is projected to achieve notable growth in the coming years, according to a recent report by Fact.MR. The market is expected to reach a value of $5.32 billion in 2024, expanding at a compound annual growth rate (CAGR) of 2.3% from 2024 to 2034. Demand for Artisanal Baked Goods Fuelling Market Growth Consumer preferences are increasingly shifting towards artisanal baked goods, which include bread, cakes, and other confections. Many manufacturers are responding to this trend by enhancing the appearance and texture of their products to mimic traditional artisanal baking techniques. This shift is significantly contributing to the growth of the bread mix market. Technological Advancements and Health Considerations Technological advancements are playing a pivotal role in modern baking, with new solutions being introduced at various stages of the baking process. This innovation is paving the way for the emergence of artisanal bakeries, which are becoming key players in the specialty ingredients market, particularly for bread mixes suitable for bread machines. The market is also witnessing a surge in demand for health-conscious options such as whole grain, gluten-free, and low-carb bread mixes. These variants cater to the growing number of consumers prioritising health in their food choices. Market Breakdown and Projections Among the various product types, bread and roll mixes dominate, making up more than half of global sales. The distribution of these products is primarily through modern trade channels, which are anticipated to hold a significant revenue share. Key markets and projections include: – United States: Estimated sales of $584.6 million in 2024. – South Korea: Projected to reach $348.6 million by 2034. – China: Expected to account for nearly half of the East Asian market share in 2024. – North America: Anticipated to grow at a CAGR of 2.5% from 2024 to 2034. – Pizza Mixes: Global sales estimated at $846.5 million in 2024. Retail Dynamics and Consumer Behaviour The widespread availability of bread mixes in supermarkets and hypermarkets enhances their visibility and accessibility. Large retail chains often collaborate with major brands and manufacturers, using their extensive marketing resources to promote these products through discounts and promotions. This strategy not only boosts consumer awareness but also encourages purchases. Industry Innovation and Key Players Leading market players are driving innovation while scaling up production to meet diverse consumer needs. Some notable companies in the bread mix market include Bakels India, Corbion NV, Lesaffre, Cargill Incorporated, and Associated British Foods Plc. These firms continue to invest in technologies such as Product Decoration Units, which allow for customised designs on baked goods, catering to the demand for visually appealing food items. Several notable launches include: – Glanbia Nutritionals: Introduced the OvenPro Series in October 2021, enhancing the texture and flavour of cakes and bread. – Associated British Foods: Released plant-based bread mixes in April 2023, targeting the growing vegetarian demographic. – Cargill: Launched gluten-free bread mixes in February 2023, broadening their customer base and meeting specific dietary requirements. Future Market Trends The report by Fact.MR also provides insights into related markets such as baking mixes, vegan baking mixes, gluten-free baking mixes, tortilla mixes, and plant-based breads. These sectors are anticipated to grow steadily, with the global baking mixes market predicted to reach $11.09 billion by 2033. In summary, the global bread mix market is set for moderate growth, driven by consumer trends towards artisanal and health-focused baked products, technological advancements, and strategic collaborations in the retail sector. Tags: