The North America Prepared Flour Mixes Market would witness market growth of 6.4% CAGR during the forecast period (2021-2027).
Prepared flour mixes are made up of a variety of ingredients like flours, starches, tastes, and functional additives. Additionally, most of the elements required in baking, such as oil, sugar, milk, and salt, are included in these mixes. Prepared mixes save time in the kitchen, add taste and texture to the finished product, and extend its shelf life. As a result, they're widely employed in the baking and confectionery industries. These premixes can be found in a variety of locations, including specialised stores, supermarkets, and department stores.
Because of changing eating patterns and the rising frequency of lifestyle disorders such as obesity and diabetes, there has been an increase in demand for healthy bakery preparations. In addition, the manufacture of cholesterol-free, fiber-rich, and low-fat prepared flour mixes, is one of the primary factors driving market expansion. Furthermore, there has been a rise in competitiveness among market competitors in the baked products sector, with an emphasis on time-saving and improved baking procedures.
Because of the COVID-19 epidemic, North America is one of the worst-affected economies. In comparison to Mexico and Canada, the United States has the largest number of COVID-19 confirmed cases in the region. The unusual surge in COVID-19 cases in the United States and Canada, as well as the following closure of production facilities in both countries, has harmed the food and beverage industry's growth. The demand for prepared flour mixes is expected to expand steadily in the next years due to the reopening of major growth markets in the region, vaccine development, and government initiatives to boost economic and industrial progress.
The burgeoning demand for functional foods and beverages is credited with the rapid expansion of prepared flour premixes in North America. In addition, vitamin supplements should be included in the daily routine of persons over the age of 50, according to the US Food and Drug Administration. This type of government initiative encourages supplement makers to create new products and capitalize on rising demand.
The US market dominated the North America Prepared Flour Mixes Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $8,673.1 million by 2027. The Canada market is estimated would exhibit expected to witness a CAGR of 7.9% during (2021 - 2027).
Based on Application, the market is segmented into Bakery Shops, Food Processing Industry, Household and Others. Based on Product, the market is segmented into Bread Mix, Pastry Mix and Batter Mix. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Prepared Flour Mixes Market is Estimated to reach $34.2 Billion by 2027, at a CAGR of 6.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Lesaffre Group, Wilmar International Limited, Bakels Group, Puratos NV/SA, Allied Mills, Rich Products Corporation, Nisshin Seifun Group Inc., CJ CheilJedang Corporation, and PT. Pondan Pangan Makmur Indonesia.
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