Pancake Mixes Market Size
|2018 - 2029
|Market Size (2024)
|USD 576.49 Million
|Market Size (2029)
|USD 750.59 Million
|CAGR (2024 - 2029)
|Fastest Growing Market
*Disclaimer: Major Players sorted in no particular order
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Pancake Mixes Market Analysis
The Pancake Mixes Market size is estimated at USD 576.49 million in 2024, and is expected to reach USD 750.59 million by 2029, growing at a CAGR of 5.42% during the forecast period (2024-2029).
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
This section covers the major market trends shaping the Pancake Mixes Market according to our research experts:
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.
Pancake Mixes Market Leaders
Bob’s Red Mill Natural Foods
C.H. Guenther & Son LLC
Continental Mills, Inc.
*Disclaimer: Major Players sorted in no particular order
Pancake Mixes Market News
- In December 2022, IHop partnered with General Mills to launch its new Mini Pancake Cereal, including pancake-shaped pieces in Blueberry & Syrup. According to the company's claim, every serving of the IHop Mini Pancake Cereal has 13g of whole grains and is vitamin and mineral-rich.
- In January 2022, C.H. Guenther & Son LLC, a branded and private label product producer, acquired St. Paul, Minn.-based Baldinger Bakery LP and Canada-based Baldinger & Sons Bakery.
- In February 2021, Aunt Jemima pancakes were reintroduced by PepsiCo. PepsiCo Inc. stated that its pancake mix and syrup products would be offered under the new name "Pearl Milling Company" after dropping the "Aunt Jemima" brand logo.
Pancake Mixes Market Report - 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
188.8.131.52 United States
184.108.40.206 Rest of North America
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
22.214.171.124 Rest of Asia-Pacific
5.2.4 South America
126.96.36.199 Rest of South America
5.2.5 Middle East & Africa
188.8.131.52 Saudi Arabia
184.108.40.206 South Africa
220.127.116.11 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Bob's Red Mill Natural Foods
6.3.2 C.H. Guenther & Son LLC
6.3.3 Continental Mills Inc.
6.3.4 General Mills
6.3.5 Hodgson Mill Inc.
6.3.7 The Hain Celestial Group
6.3.8 Hometown Food Company
6.3.10 King Arthur Baking Company
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Pancake Mixes Market Research FAQs
How big is the Pancake Mixes Market?
The Pancake Mixes Market size is expected to reach USD 576.49 million in 2024 and grow at a CAGR of 5.42% to reach USD 750.59 million by 2029.
What is the current Pancake Mixes Market size?
In 2024, the Pancake Mixes Market size is expected to reach USD 576.49 million.
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 and PepsiCo Inc are the major companies operating in the Pancake Mixes Market.
Which is the fastest growing region in Pancake Mixes Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Pancake Mixes Market?
In 2024, the North America accounts for the largest market share in Pancake Mixes Market.
What years does this Pancake Mixes Market cover, and what was the market size in 2023?
In 2023, the Pancake Mixes Market size was estimated at USD 546.85 million. The report covers the Pancake Mixes Market historical market size for years: 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Pancake Mixes Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Pancake Mixes Industry Report
Statistics for the 2024 Pancake Mixes market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Pancake Mixes analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.