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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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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