|Study Period:||2016 -2027|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The pancake mixes market is projected to register a CAGR of 5.43% during the forecast period (2022-2027).
COVID-19 is an incomparable global public health emergency that has affected almost every industry, and the long-term effects are projected to impact the industry growth during the forecast period. 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 seen an increase in popularity as consumers seek inexpensive and simple meals at home rather than dining out.
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 are fuelling the overall demand for gluten-free food 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.
Scope of the Report
A pancake (or hotcake, griddlecake, or flapjack) is a flat cake, often thin and round, prepared from a starch-based batter that may contain eggs, milk, and butter. Pancake mix is flour with other ingredients mixed in. The pancake mixes market is segmented by distribution channel (supermarket/hypermarkets, convenience stores, specialist retailers, online retail, and other channels) and geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa). The report offers the market size and forecasts in terms of value (in USD billion) for all the above segments.
|By Distribution Channel|
|Other Distribution Channels|
Key Market Trends
Rising Popularity of Gluten-free Pancake Mixes
Changing lifestyle, increasing awareness with respect to healthy eating, and growing knowledge of celiac diseases among consumers are 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 of the associated factors stimulating the purchase of such foods. 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 not only improve the ingredient formulation but also introduce substantial innovation with the organoleptic characteristics of food products.
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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 convenience level of pancake mixes helps to increase the total demand in the market. 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 the inclination toward leading a healthy lifestyle. Companies are also focusing on the expansion of product portfolios in the gluten-free segment appealing to a wider base of consumers to strengthen the long-term prospects of gluten-free foods.
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The pancake mixes market is fragmented and is driven by various active players. The major players have used several strategies such as new product launches, expansions, joint ventures, partnerships, acquisitions, and others to increase the market growth. There are numerous prominent players in the market, such as PepsiCo. Inc, General Mills, The Hain Celestial Group, and Bob’s Red Mill Natural Foods.
- In January 2022, C.H. Guenther & Son LLC, a producer of branded and private label products, acquired St. Paul, Minn.-based Baldinger Bakery LP and Canada-based Baldinger & Sons Bakery.
- 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.
- In March 2020, Glendale, California – IHOP’s parent company, Dine Brands Global, announced a partnership with PepsiCo and General Mills to roll out new cereal pancakes and cereal milkshakes at its locations across the United States.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Distribution Channel
5.1.2 Convenience Stores
5.1.3 Specialist Retailers
5.1.4 Online Retail
5.1.5 Other Distribution Channels
5.2 By Geography
5.2.1 North America
18.104.22.168 United States
22.214.171.124 Rest of North America
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 Rest of Asia-Pacific
5.2.4 Rest of the World
220.127.116.11 South America
18.104.22.168 Middle-East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Bob's Red Mill Natural Foods
6.4.2 C.H. Guenther & Son LLC
6.4.3 Continental Mills Inc.
6.4.4 General Mills
6.4.5 Hodgson Mill Inc.
6.4.7 The Hain Celestial Group
6.4.8 Hometown Food Company
6.4.10 King Arthur Baking Company
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Pancake Mixes Market market is studied from 2016 - 2027.
What is the growth rate of Pancake Mixes Market?
The Pancake Mixes Market is growing at a CAGR of 5.43% over the next 5 years.
What is Pancake Mixes Market size in 2016?
The Pancake Mixes Market is valued at 1 Billion USD in 2016.
Which region has highest growth rate in Pancake Mixes Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Pancake Mixes Market?
North America holds highest share in 2021.
Who are the key players in Pancake Mixes Market?
Bob’s Red Mill Natural Foods, C.H. Guenther & Son LLC, Continental Mills, Inc., General Mills, PepsiCo are the major companies operating in Pancake Mixes Market.