Pancake Mixes Market

Global Pancake Mixes Market Size (2024 to 2029)

The Global Pancake Mixes Market size is expected to reach a value of USD 721.60 million by 2029 from USD 566.47 million in 2024, with a CAGR of 4.96%.

Pancake mixes are ready-made pancake powders that can be cooked readily as and when required. Many factors are driving the demand for the product, such as an increase in popularity as a staple breakfast food and a rise in the demand for convenience foods. The increase in health consciousness among consumers is also adding to the market growth. The increase in the opportunities for the pancake mixes with the increase in adoption and external factors creating a scope to expand into new markets and new locations/regions.

There is a promising opportunity for the pancake mixes market driven by the changes in consumer preference and convenience-focused lifestyles. Pancake mixes are a convenient way to enjoy homemade-style pancakes without the requirement of extensive preparations. Pancakes made from the ingredients such as whole grains, millet, and reduced sugar & carbohydrate content are lucrative opportunities for manufacturers to target health-conscious customers. The versatility of the pancake mixes, which can be used as a base for a variety of recipes rather than traditional pancakes, will pave the way for innovation. There is a scope for brands to introduce variations, such as gluten-free, vegan, or protein-enriched mixes, to appeal to niche markets and increase product portfolios. Finally, the pancake mixes market is overhealed with opportunities driven by convenience, health consciousness, product innovation, e-commerce, and effective marketing strategies.

Global Pancake Mixes Market Drivers:

Among consumers, the rise in demand for healthier and innovative food products is fuelling the Pancake Mixes market demand. With the increase in demand, manufacturers are introducing new pancake varieties with components inclusion of gluten-free and vegan products to meet requirements. There is a change in the lifestyle of people with the increase in awareness about healthy foods and growing knowledge about the cause of serious health diseases. This resulted in driving the high consumption of gluten-free food products. Some important factors simulating the purchase of such products such as ease of digestion, desire or need to avoid allergens, compatibility with the vegetarian and vegan lifestyle, and finally, concern about sustainability.New product development, improvement in taste and versatility, and a high level of marketing support are the factors helping to increase the demand for the products in the pancake mixes market. Several market players are introducing innovative products and varieties in pancake mixes. In recent times, there has been a variety of products launched in chocolate, vanilla, and coffee flavor for adults in India. These innovations are acting as a driving force for the market in creating a new growth opportunity for the vendors and upsurging the demand for the pancake mix product.

Global Pancake Mixes Market Restraints:

Some ingredients are used in the manufacturing of pancake mixes that would harm the health of the consumers. This might be a challenging factor and hinder the growth of the pancake mixes market shares during the forecast period. The use of partially hydrogenated oil as one of the ingredients in the pancake mixes is limiting the consumption of the product. Some of the studies reveal that partially hydrogenated oil contains trans-fat that might raise the LDL cholesterol and decrease the HDL cholesterol levels, which results in a harmful effect on the human body. This creates a situation of self-preparation of the pancake mixes by the consumers rather than buying the packaged product. This shows a greater negative impact on certain consumer segments who are very conscious about the ingredients used in product manufacturing as they prefer products that do not harm the overall health of the consumers.

Impact of COVID-19 on the Pancake Mixes Market:

The COVID-19 pandemic has increased the demand for pancake mixes due to the increase in comfort foods consumption. The imposition of the lockdown and non-availability of restaurants has driven the increase in home consumption, driving sales. The disruption of the supply chain and production operations led to erratic shortages. As the increase in the severity of the pandemic rose, the demand for health and home-based activities influenced the pancake mix preferences. There is an increase in the demand for the brand’s products offering healthier and more functional options. E-commerce has gained a noticeable consumer base with the rise in sales through online shopping. Pancake mixes market has seen many challenges; brands focused on e-commerce, health-conscious offering, and cost-effective options has been in a better position.

REPORT COVERAGE: 

This research report on the Global Pancake Mixes Market has been segmented and sub-segmented based by flour, packaging , end use, application & region. 

Global Pancake Mixes Market - By Flour :

• Wheat Flour
• Rice Flour

The wheat flour segment is expected to have a dominant share in the pancake mixes market during the forecast period. It gives fluffiness and soft texture to the pancakes and has been traditionally used as the ingredient in pancake mixes. The nutritional factors are high in the wheat flour-based pancake mixes compared to the rice flour, which drives the demand for the segment.

Global Pancake Mixes Market - By Packaging:

• Fresh
• Frozen

The frozen packaging segment holds a significant share of the pancake mixes market owing to the several advantages associated with it compared to fresh packaging. It resonates with consumer preferences and lifestyles. Frozen pancakes are convenient and have a longer shelf-life that suits the present-day world requirement. The main advantage is availability as and when required without the fear of spoilage. The texture and flavor offered by the frozen product are high compared to the fresh packaging. So, it caters to the consistent quality requirement.

Global Pancake Mixes Market - By End Use Application:

• Commercial
• Household

The household end-use application is expected to have a high share in the pancake mixes market. Owing to the several factors that are influencing consumer behavior and preferences. It is the best and most healthy option for people who have a tight schedule of activities. It is a quick and convenient breakfast and snack as it doesn’t require extensive cooking skills and requires less time for preparation. The desire for comfort food and available customization as the individual needs and preferences drive the market. The commercial segment holds a market share with a percentage when compared to the food service offering establishments that have their standards and preferences of the pancakes, which may not be obtained from the pre-prepared pancake mixes.

Global Pancake Mixes Market - By Distribution Channel:

• Supermarkets/Hypermarkets
• Convenience Stores
• Specialist Retailers
• Online Retail
• Other Channels

The supermarkets and online retail segment hold a significant share of the pancake mixes market. The presence of convenience and availability of a variety of products under a single roof is driving the increase in the number of footfalls. The increase in internet and smart mobile phones penetrations has inclined the curve of the number of users. This resulted in the rise of online retail store demand associated with the ease of browsing and purchasing. The convenience and accessibility present in the large retail stores and platforms, as compared to other channels, are responsible for the increase in demand.

Global  Pancake Mixes Market - By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

North America is witnessing a noticeable growth in the pancake mixes market owing to the increase in the consumption of breakfast food. The increase in the number of working professionals and dependency on ready-to-eat and ready-to-cook food has propelled market sales in the regional area. Europe is observed to have substantial growth in the market with an increase in awareness about health. The benefits offered by the gluten-free and vegan pancakes, such as ease of digestion and free from allergens, will increase consumer demand. Asia-Pacific region is witnessed to grow at an increasing rate during the forecast period owing to the adoption of the Western culture and urbanization in India and Japan regions. There is an incline in the number of new restaurants and cafes established in the countries has been a positive aspect for the increase in sales for the pancake mixes.

KEY MARKET PLAYERS:

The Global key market players of Global  Pancake Mixes Market  are Bob's Red Mill Natural Foods, Inc, C.H. Guenther & Son, Inc, Continental Mills, Inc, Dawn Food Products, Inc, General Mills, Inc, Horizons for the Blind, The J.M. Smucker Co, Foxtail Foods, Swiss Bake Ingredients Pvt. Ltd, International House of Pancakes, LLC

RECENT HAPPENINGS IN THE MARKET:

• In 2022, to launch Mini Pancakes cereal IHop has partnered with General Mills. The new pancakes contain 13g of whole grains and are rich in minerals and vitamins.
• In 2022, St.Paul Minn – based Baldinger Bakery LP and Canada- based Baldinger & Sons Bakery was acquired by the C.H. Guenther & Son LLC, which is a branded and private label product producer.