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Cake Mixes Market Forecast, Trend Analysis & Competition Assessment BY 2022
North America to Remain on Top
Based on the geography, the research report segments the global market for cake mixes into North America, Asia Pacific, Latin America, the Middle East and Africa, and Europe. Among these, the North America market has acquired the lead, owing to the presence of cake mixes vendors in a large number in this region. Expanding at a CAGR of 4.0% between 2017 and 2022, this regional market is predicted to remain on the top over the next few years. The markets in Europe and Asia Pacific are also expected to experience a significant rise in the years to come, states the research report.
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The global market for cake mixes is demonstrating a competitive business landscape, finds a new research study by Transparency Market Research (TMR). General Mills Inc., Archer-Daniels-Midland Co., Associated British Foods Plc, Pinnacle Foods Inc., Ingredion Inc., Cargill Inc., Hain Celestial Gropu Inc., Continental Mills Inc., Kerry Gropu Plc, and Chelsea Milling Co. are some of the prominent players in this market. The key companies are concentrating on expanding their regional reach to strengthen their position in the global market. Over the coming years, these vendors are projected to engage into mergers, acquisitions, and strategic partnerships to gain a competitive advantage over their peers, states the research report.
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Rising Uptake of IT in Medical and Healthcare Sector to Boost Market’s Growth
“The global market for cake mixes is gaining substantially from the increasing demand for ready-to-make bakery products.” says a TMR analyst. Going forward, the rise in disposable income of consumers and the increasing influence of western food culture are likely to support the growth of this market in the years to come, states the research study.
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