Project report for Muffin

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Introduction

A muffin is an individual-sized, baked product. It can refer to two distinct items, a part-raised flatbread that is baked and then cooked on a griddle and a cupcake-like quick bread that is chemically leavened and then baked in a mold. While quick bread muffins are often sweetened, there are savory varieties made with ingredients such as corn and cheese. Changing consumer habits and lifestyle are shaping the bakery industry in India. Part of a global trend, there is greater demand for healthier products and alternatives, particularly when it comes to bakery goods which are now more commonly consumed daily as opposed to being a treat.  Manufacturers are coming up with such innovations in muffins to market these products as healthy offerings. Savory muffins generally contain cheese, parsley, meat, and other fillings. Many bakers are also experimenting by adding both sweet and savory flavors to muffins to give them a twist of taste. This availability of muffins in distinct flavors will increase their consumption in the coming years. The numerous health adversities due to consumption of high calorie food products such as muffins have hampered its market growth. Apart from changing the type of flour that is used to produce muffins, several other ingredients are added in the preparation of muffins like fruits, chia seeds, and others, to enhance the nutritional value of the end products. Muffins with blueberries and strawberries are very popular for their taste and also for the nutritional value of blueberries.

Market potential & Strategy

The muffins market size has the potential to grow by INR 880570 Crores during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 3.15%. The global muffins market is observing a significant growth owing to the growing inclination of consumers towards innovative food products. Muffins are single serve, baked products that are made using dough, with or without eggs, sugar and other ingredients. The recent trend of using healthy bakery ingredients such as whole grains and sugar substitutes for making muffins has propelled its demand among the consumers. Further, the rise in utilization of minimally processed and natural ingredients in the muffins has boosted its market growth. The recent rise in experimenting with the food by the consumers has led to the growing popularity of savoury muffins among the consumers. Their changing preferences and taste have made them willingly experiment with new flavors and varieties in muffins. The manufacturers across the globe are launching new varieties of muffins incorporated with non-conventional muffin ingredients such as parsley, cheese and other fillings. The expansion of in-store bakeries in various supermarkets and new private label products being launched by the retailers, are the major factors driving the muffins market. The strengthening of supply channels due to opening of various new malls and organized retail stores in the developing economies has further boosted the global market growth of muffins.

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