Artificial Intelligence
Baking Mixes Market is Predicted to Gain US$ 11.09 Billion at 5.3% CAGR by 2033, States Fact.MR
Rockville, July 05, 2023 (GLOBE NEWSWIRE) — According to the latest published industry report by Fact.MR, a market research and competitive intelligence provider, Baking Mixes Market is projected to reach US$ 11.09 billion, from an expected US$ 6.61 billion in 2033. The global market for baking mixes is anticipated to grow at a moderate 3.9% CAGR from 2018 to 2022 to 5.3% CAGR over the following ten years.
The consumption of bakery products has been increasing on a global basis, and it is expected that this will predominantly increase sales of baking mixes in the future. Due to their reliance on bread as a main food source, Western nations today account for the majority of the demand for bakery goods.
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Key Driving Forces Accelerating the Market Growth
- Baking mixes offer convenience to consumers by providing pre-packaged ingredients with measured proportions, eliminating the need for measuring and mixing various ingredients. This saves time and effort in baking, making it an attractive option for busy individuals or those with limited baking skills.
- There has been a rise in the demand for homemade baked goods, as people are spending more time at home and seeking out activities like baking. Baking mixes cater to this demand by providing an easy way to create homemade baked goods without the need for extensive baking knowledge or skills.
- Factors such as an upsurge in the number of people suffering from gluten intolerance and celiac disease have resulted in the consumption of gluten-free products. A rise in consumption of plant-based and gluten-free baking mixes is expected during the forecast period.
- Baking mix sales in the US are expected to witness a valuation of US $ 2.24 Bn by the end of 2033 and is predicted to witness a CAGR of 4% during the forecast period.
- Baking mix manufacturers are constantly introducing new and innovative products to meet evolving consumer preferences. They offer a wide range of flavors, textures, and dietary options to cater to various needs, including gluten-free, vegan, and organic baking mixes.
- Many consumers are becoming more health-conscious and are seeking healthier alternatives in their baked goods. Baking mix manufacturers are addressing this demand by offering products with reduced sugar, whole grains, and natural ingredients.
Vital Indicators Shaping the Future of the Industry
- The increasing focus on health and wellness is expected to shape the future of the baking mixes market. Consumers are seeking healthier alternatives in their baked goods, including options with reduced sugar, whole grains, and natural ingredients.
- Consumers are becoming more conscious of the ingredients used in their food products. They are looking for baking mixes that have clean labels, which means they are free from artificial flavors, colors, and preservatives. Transparency in ingredient sourcing and manufacturing practices will become increasingly important for baking mix brands.
- Growing environmental awareness is influencing consumer choices. Sustainable packaging, ethical sourcing of ingredients, and environmentally friendly manufacturing practices will become significant factors in the baking mix market.
- The rise in plant-based diets and alternative ingredients is impacting the baking mixes market. Consumers are seeking vegan and gluten-free options, as well as alternatives to traditional wheat flour, such as almond flour, coconut flour, or oat flour.
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Challenges Hindering the Market Growth
- The baking mixes market in North America is highly competitive, with numerous brands and products vying for consumer attention. The presence of both established players and new entrants intensifies competition, making it challenging for companies to differentiate themselves and capture market share.
- Some consumers perceive baking mixes as inferior to homemade or bakery-made goods. They may associate baking mixes with lower quality, lack of authenticity, or artificial ingredients. Overcoming this perception and building trust in the quality of baking mixes is a significant challenge for companies operating in the market.
- Price sensitivity among consumers poses a challenge for baking mix manufacturers. With increasing competition and the availability of cheaper alternatives, companies may face challenges in maintaining attractive pricing levels for consumers while ensuring profitability.
Strategies for Manufacturers/Suppliers to Scale in the Market
Constantly innovating and diversifying product offerings can help manufacturers/suppliers attract new customers and tap into emerging trends. This could involve developing new flavors, introducing specialty or seasonal baking mixes, and catering to dietary preferences such as gluten-free, vegan, or organic options.
- In March 2033, Snacktivisit, a regenerative baking mix company announced that it had completed its branding and packaging refresh and had also launched the same on all sales channels in 2023.
Collaborating with other companies or brands can provide opportunities for growth and expanded market reach. Manufacturers/suppliers can explore partnerships with retailers, e-commerce platforms, or complementary product manufacturers to leverage each other’s strengths and access new customer bases.
- Another example is Renewal Mill (a company focusing on climate-friendly baking) had partnered with Just Date, a specialty sweetener provider to offer gluten-free muffin mix using upcycled ingredients.
Key Companies Profiled
- Cargill Inc.
- Dawn Food Products Inc.
- General Mills Inc.
- Associated British Foods plc
- Archer-Daniels-Midland Company
- Pinnacle Foods Inc.
- Chelsea Milling Company
- Bob’s Red Mill Natural Foods Inc.
- Hain Celestial Group Inc.
- Ingredion Incorporated
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Key Segments of Baking Mixes Industry Research
- By Product Type:
- Bread
- Cakes & Pastries
- Biscuits & Cookies
- Pizza Dough
- Waffles
- Muffins &Brownies
- Pancakes
- Frosting
- Other Bakery Products
- By Distribution Channel:
- Modern Trade
- Departmental & Traditional Grocery Stores
- Convenience Stores
- Online Channels
- Other Retail Channels
- By Region:
- North America
- Latin America
- Europe
- APAC
- MEA
Check Out More Related Studies Published by Fact.MR Research:
Baking Mix, Base and Concentrate Market: The global baking mix, base and concentrate market is expected to grow with the single-digit growth rate in the forecast period, 2018-2028.
Gluten-free Baking Mixes Market: Revenue from the global gluten-free baking mixes market is set to reach US$ 454 million in 2022, with the market predicted to expand at a high CAGR of 7.3% to reach US$ 923.2 million by 2032.
Vegan Baking Ingredients Market: The vegan baking ingredients market remains highly consolidated with leading players holding over 50% of the market share. These vegan baking ingredients producing giants are focusing on scaling their production facilities.
Baked Chips Market: The global baked chips market is valued at US$ 33.8 billion in 2023 and is expected to reach US$ 66.6 billion by 2033. Global demand for baked chips is predicted to increase at a noteworthy CAGR of 7% during the next 10 years.
Bakery Fillings Market: Bakery fillings are becoming versatile products, which are inspiring creative food applications. It is expected that the bakery fillings market will grow prominently during the forecast period – 2018 to 2028.
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REHOVOT, Israel, May 6, 2024 /PRNewswire/ — PractiTest, a leader in innovative test management solutions, continues to push the boundaries with the release of Milestones, a powerful project management module enabling QA teams to align and stay connected to business goals. PractiTest’s New Milestones Module empowers QA teams to define high-level testing objectives within set timeframes. This results in well-defined roadmaps for sprint planning, major releases, or other pivotal project Milestones. By setting these objectives, QA teams gain a focused understanding of their contribution to broader business objectives and deadlines.
“Milestones have given us increased granularity in our ability to organize our testing,” says Tony, a system engineer at Battelle. “Having traceability was good, but Milestones allow us to plan much more clearly and easily.”
Milestones establish a seamless link between QA initiatives and overarching business strategies, ensuring testing efforts directly contribute to achieving company objectives. By defining clear testing objectives and schedules for each project phase, QA teams can stay on track and ensure efficient use of resources. The Milestones module also improves visibility, providing a high-level overview of the entire testing process and promoting seamless communication and collaboration among cross-functional teams.
PractiTest’s Commitment to Innovation
The release of Milestones reaffirms PractiTest’s dedication to providing cutting-edge solutions that empower QA teams to thrive.
“In today’s competitive environment, ensuring QA aligns with business objectives is imperative,” says Yaniv Iny, CEO of PractiTest. “The Milestones module is a testament to our commitment to empowering QA teams to evolve into strategic partners, fostering quality and delivering tangible outcomes while staying in sync with overarching business objectives.”
About PractiTest
PractiTest is an end-to-end test management platform designed to simplify and untangle complexity for complex and robust environments. PractiTest centralizes all your QA work, processes, teams, and tools into one platform to bridge silos, unify communication, and enable one source of truth across your organization. With PractiTest you can make informed data-driven decisions based on end-to-end visibility provided by customizable reports, real-time dashboards, and dynamic filter views.
For more information about PractiTest visit: https://www.practitest.com/
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Artificial Intelligence
EZVIZ unveils its groundbreaking H9c Dual-lens Smart Pan-and-tilt Camera series: a new paradigm for automated, all-round outdoor protection
By combining a pan-and-tilt panoramic lens and a fixed 180-degree wide-angle lens, one H9c Dual smartly secures large areas with performance better than that of two ordinary ones.
HOOFDDORP, Netherlands, May 6, 2024 /PRNewswire/ — EZVIZ, a leading global player in innovative smart home security, proudly introduces the H9c Dual series, its latest dual-lens outdoor pan-and-tilt cameras that redefine smart protection for homes and small businesses. With options in 2K and 3K resolutions, their groundbreaking design combines a sharp bullet camera and a flexible PT camera, addressing complex security needs effectively. The interlinked dual lenses work collaboratively to safeguard wide property areas, detect and track activities, and offer auto-patrol options for hands-free security.
“The H9c Dual challenges traditional outdoor cameras with unrivaled vision, unmatched automation, and high versatility for basically any scenario,” said Candice Tu, the lead product manager, “EZVIZ leads the way in the development and application of advanced dual-lens technology. This underlines our dedication to bringing cutting-edge technology within reach for practical, everyday situations.”
At the core of the H9c Dual is its groundbreaking dual-lens technology, highlighted by EZVIZ’s distinctive co-action function. The two lenses can work independently at two static viewing angles or act together as a team. When the fixed lens detects motions, the pan-and-tilt lens automatically rotates to track the same activity. This co-action function can also be manually controlled through the EZVIZ App.
The series addresses unnoticed blind spots by offering a 180-degree comprehensive view in a single frame, supplemented by the bottom PT lens for intricate close-ups. Both lenses, with high resolutions of 2K/3K, use built-in AI chips to detect people and vehicles in customizable zones, ensuring users are informed of crucial activities. Users can set up to four patrol spots for the PT lens to complete automatic rotations on a schedule.
Equipped with powerful LEDs, the H9c Dual provides color night vision up to 40 meters and warns potential trespassers with a loud siren and dazzling flashlight upon detection. Offering superior protection compared to a traditional two-camera system, the H9c is a breeze to set up thanks to its adaptable mounting design. Users can manage and control their H9c through the user-friendly EZVIZ App, and enjoy seamless integration with prevailing voice assistants and the larger EZVIZ ecosystem.
Learn more at www.ezviz.com.
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BIRMINGHAM, England, May 6, 2024 /PRNewswire/ — Patients with spinal cord injury (SCI) could benefit from future treatment to repair nerve connections using red and near-infrared light.
The method, invented by University of Birmingham scientists and patented by University of Birmingham Enterprise, delivers light directly to the site of the injury.
Their latest research, published in Bioengineering and Translational Medicine, determined an optimal ‘dose’ for this novel approach, and showed it can deliver therapeutic improvements including significant restoration of sensation and movement, and regeneration of damaged nerve cells.
Researchers led by Professor Zubair Ahmed used cell models of SCI to determine the frequency and duration of light required to achieve maximum restoration of function and stimulate nerve cell regrowth.
They found delivery at a wavelength of 660nm for one minute a day increased cell viability (the number of live cells) by 45% over five days’ treatment.
Professor Ahmed said: “The effect of 660nm light was both neuroprotective, meaning it improved survival of nerve cells, and neuroregenerative, meaning it stimulated nerve cell growth.”
The researchers also investigated the effect of light therapy in preclinical models of SCI, using an implantable device and transcutaneous delivery with the light source placed against the skin. They showed comparable results for both methods, with a one-minute dose of 660nm light, delivered daily for seven days resulting in reduced tissue scarring, increased levels of proteins associated with nerve cell regeneration, improvements in the connections between cells and significant functional recovery.
This is the first time transcutaneous and direct light delivery have been compared in SCI. Professor Ahmed said: “To make light therapy viable for treating SCI in humans an implantable device will be required, to provide line of sight to damaged tissue and the opportunity for greater accuracy and standardise dosing without impedance due to the thickness of the skin and other tissues surrounding the spinal cord.”
The researchers are planning to develop an implantable device for use in humans with traumatic SCI. They have already received further funding and are seeking commercial partners or investors to develop a prototype device to take into first-in-man clinical trials.
Full release here.
University of Birmingham Enterprise helps researchers turn ideas into products and services that meet real-world needs. Follow us on LinkedIn and X.
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