India Dry Cakes Market To Be Fueled By Bar Cakes Segment During The Forecast Period
Rising demand for convenience food products and growth
of food service segment are the leading factors driving the India Dry Cakes Market
in the forecasted years.
According to
TechSci Research report, “India Dry Cakes Market– By Region, Competition,
Forecast & Opportunities, 2029F” the India Dry Cakes market is
forecast to grow at faster rate during forecast period due to rapid change in purchasing
pattern, increasing number of instore bakeries, and rising demand for vegan dry
cake products. The market's growth is stimulated by increasing number of
working professional, rise in food service segment, and rising demand for vegan
products.
As lifestyle of
consumers have become more hectic and fast-paced, there is an increasing demand
for convenient and easy-to-eat food items. Dry cakes, which are ready-to-eat
and can be carried around easily, have gained popularity among Indians. The
demand for muffins and bar cakes in India is on rise, driven by changing
consumer preferences and the growing influence of western food cultures. The
trend towards health and wellness is influencing the demand for packed cakes in
India. Consumers are looking for healthier options that are low in sugar, fat,
and calories, and many packaged cake manufacturers are responding to this trend
by introducing healthier varieties that are made with natural ingredients.
Muffins and bar
cakes are popular snacks that are widely consumed across the country,
especially in urban areas. Muffins are small, individual-sized cakes that are
usually sweet and come in a variety of flavors such as chocolate, blueberry,
and banana. They are convenient to eat and can be consumed as a breakfast item
or as a snack during the day. Bar cakes, on the other hand, are larger than
muffins and are typically cut into small portions. They are available in
various flavors and are often consumed with tea or coffee.
The increasing
demand for muffins and bar cakes in India can be attributed to several factors.
Firstly, a surge in the demand for upscale and indulgent food products is a
result of rising disposable income. Secondly, the growing influence of western
food cultures, especially among the younger generation, has led to an increased
interest in cakes and pastries. Finally, the increasing availability of these
products in modern retail channels such as supermarkets and hypermarkets has
made them more accessible to consumers.
Several domestic
and international players are now catering to the growing demand for muffins
and bar cakes in India. Companies such as Britannia Industries, Parle Products,
and ITC Limited have launched a range of muffins and bar cakes in different
flavors and sizes to cater to the diverse tastes of consumers. Additionally,
many standalone bakeries and cafes have started offering muffins and bar cakes
on their menus.
The market is
dominated by local and regional brands, with a few international players
operating in the country. Some of the key players in the market include
Britannia Industries Limited and Parle Products Pvt. Ltd.
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market data Figures spread through xx Pages and an in-depth TOC on "India Dry Cakes Market"
The India Dry
Cakes Market is segmented based on type, pack size, distribution channel, and
region.
Based on type,
the market is segmented into bar cakes, muffins/cupcakes, and others (brownies
etc.). Due to the availability of different flavors and shifting consumer
preferences, bar cakes have become more popular.
Based on pack
size, the market is segmented into upto 100g, 100 to 250g, and above 250g.
Based on
distribution channel, the market is segmented into bakeries & specialty
stores, supermarkets/hypermarkets, conventional stores, online, and non-retail.
The online segment is growing at faster rate on the account of increasing
online sales channels in India.
Based on region,
the market is segmented into north, west, south, and east region.
Key market
players in the India Dry Cakes market include:
·
Britannia Industries
Limited
·
Monginis Foods
Private Limited
·
Parle Products
Private Ltd.
·
Bonn Nutrients
Private Ltd.
·
Elite Foods Pvt
Limited
·
Surya Food &
Agro Ltd.
·
Saj Food Products
Private Limited
·
Kitty Industries
Pvt. Ltd.
·
Anmol Industries
Limited
·
Oetker (India)
Limited
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“The growing
demand for vegan dry cakes products is going to boost the India Dry Cakes
market in forecasted period. Market leaders are constantly launching new flavors
and products to meet the changing consumer preference, which is expected to
drive the India Dry Cakes over the next few years. Additionally, increasing
number of working professionals, growing expansion of ecommerce channel, and
rising demand for convenience food will positively impact the India Dry Cakes
during the forecast period.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“India Dry Cakes Market By Product Type (Bar Cakes,
Muffins/Cup Cakes, Others (Brownies etc), By Pack Size (Upto 100g, 100 to 250g
and Above 250g), By Distribution Channel (Bakeries & Specialty Stores,
Supermarkets/Hypermarkets, Conventional Stores, Online and Non-Retail), By
Region, Competition, Forecast & Opportunities, 2029”, has evaluated the future growth
potential of Dry Cakes market in India and provides statistics and information on market structure,
size, share and future growth. The report is intended to provide cutting-edge
market intelligence and help decision makers take sound investment decision.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities present in India Dry Cakes
market.
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