LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the cake mix market in the US provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
One of the key factors resulting in the growth of the cake mix market in the US is the increase in home-based baking. Consumers are increasingly becoming health conscious and baking products at home. Approximately 61% of adults in the US pay attention to nutrition-specific labels on food items so they can purchase and consume healthy food to manage their weight. Consumers prefer to make food products according to their tastes and preferences.
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The top three emerging market trends driving the cake mix market in the US according to Technavio research analysts are:
- Innovation in packaging
- Increase in demand for organic cake mix
- Innovation in marketing strategies
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Innovation in packaging
Packaging plays a significant role in the growth of the market. Good quality of packaging increases the shelf life of products. Manufacturers are developing different packaging for cake mix in the US. New modes of packaging such as stand-up pouches are gaining popularity in the cake mix market in the US. Stand-up pouches are made from high-quality food-grade plastics. The Food and Drug Administration (FDA) approves food-grade plastics to be used in packaging. These pouches are assembled with several layers. These layers keep the cake mix fresh for extended periods than cardboard boxes and provide protection against ultraviolet rays, unfavorable odor, harmful vapors, moisture, and other environmental hazards.
According to Manjunath Reddy, a lead analyst at Technavio for food, “Stand-up pouches for cake mix packaging can be ordered with tear notches for easy opening and ziplock for convenient storage. Stand-up pouches use 12% less plastic than other forms of bag packaging that helps to save the material used. Additionally, they will eliminate the problem of returns caused by damage during shipping. Manufacturers are developing sustainable product packaging. Sustainable packaging helps the environment by reducing the waste generated, lowering the cost, saving the fuel required for transportation, and providing high efficiency for retailers.”
Increase in demand for organic cake mix
The demand for organic cake mixes has been increasing rapidly. Vendors aim to provide healthier food products by using high-quality ingredients and raw materials. Organic cake mix is produced with certified organic raw materials. Organic foods are distinguished from conventionally grown produce and do not use pesticides and chemicals for their production. This entices consumers to pay a premium price for these healthy and nutritional foods. Though organic food products are priced higher than their conventional counterparts, they constitute the fastest growing segment of the economy.
Customers in the US tended to pursue foods that offer health benefits, convenience, and taste. The demand for organic food products has increased in the US because of the rise in the country's obesity rate. Manufacturers are developing organic cake mixes to cater to the demand from customers. For example, Arrowhead Mills offers organic vanilla cake mix and organic chocolate cake mix.
Innovation in marketing strategies
Effective marketing assists the growth of the company and results in increased sales. Vendors in the market are adopting integrated marketing communication using the magazine, newspaper, and social media to sell their products. These communication channels play a significant role in generating product awareness. It is essential that products that are made from cake mixes such as cakes and pancakes should be also pleasing and appetizing to consumers. Manufacturers are launching innovative advertising campaigns that are promoting the consumption and generating the demand for cake mixes.
“Digital marketing has seen rapid growth in the advertising industry. Manufacturers are increasingly adopting the digital and social media space to market their products. The growth of social media has been exponential with millions of active users connected to one another. That is the best space to market products with least investment. Therefore, cake mix manufacturers are increasingly following this trend,” says Manjunath.
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