Baking mix and enzyme are food materials employed in the bakery industry to prepare ready-to-eat foodstuffs. These ingredients increase color, volume, texture, flavor, softness, and other properties of the food items. They are available in different varieties, and their utilization in bakery products depends upon the consumption patterns of different regions. Baking mix and enzymes market enjoys high growth potential and it is anticipated that it will achieve remarkable position in the food processing sector in India. In addition, increase in trend of healthy eating and rise in preference for convenience food are the primary factors that boost the growth of the market. Prominent players and large corporates are developing their products to follow the consumer trends and boost the company growth to occupy top position in the baking mix and enzymes market share.
Baking Mixes are the packaged mix of ingredients to which liquid, eggs or other ingredients are added to produce baked goods like bread, brownie, dessert, cake, muffin, pancake, biscuits etc. Baking Mixes includes the pre-mixed formulation of all the ingredients used to prepare various baked products. Some of the common ingredients used in the baking mixes are flour, baking soda, baking powder, salt, sugar, yeast, flavouring ingredients, and other ingredients depending on the type of baked product, for instance, leaving aside the common ingredients, additional baking mix ingredients for bread differ from the baking mix ingredients for cakes, muffins, etc. Most of the baking mixes are available in a powder form and require the addition of milk, water, cooking oil, eggs, etc.
Baking Mixes market in India registered a positive compound annual growth rate (CAGR) of 9.62% during the period 2015 to 2020 with a sales value of INR 4,100.830 Crores in 2019, an increase of 9.84% over 2018. The market achieved its strongest performance in 2018, when it grew by 10.44% over its previous year and its weakest performance in 2018, when it increased by 8.43% over 2017. Increasing population with their disposable income has turned the market growth for cake mixes towards growth. Changing lifestyles of consumers have played the major role in increasing demand for cake mixes. Increasing working population across the world is facing many challenges related to their lifestyle as they do not have much time to prepare food and desserts for themselves and leaned more toward ready-to-eat food and prefer hotels and restaurants frequently to have their favorite desserts. This has increased the demand for cake mixes in hotel and restaurant industry. Increasing disposable income of consumers and dual sources of income in many houses affected the lifestyle of consumers. Rising purchasing power of consumers encouraged them to improve their living standard and spend more, which provide them with convenience and new experience. There is a witnessing increase in the frequency of people going to hotels and restaurants to have a delicious food and desserts and they are curious to experience and try every new and exotic flavor available, which propelled the demand for cake mixes.
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