The global muffins market outlooks, valued at USD 10.93 billion in 2023, is anticipated to grow from USD 11.40 billion in 2024 to USD 16.29 billion by 2032, with a compound annual growth rate (CAGR) of 4.56% over the forecast period, as detailed in the Fortune Business Insights™ report titled "Muffins Market, 2024-2032."
With a wide array of flavors such as banana, chocolate chip, and blueberry, muffins continue to be popular baked goods. This growing consumer demand is expected to fuel considerable industry growth in the coming years.
List of Key Players Mentioned in the Report:
- Mondelez International, Inc. (U.S.)
- Associated British Foods (U.K.)
- Grupo Bimbo (Mexico)
- General Mills (U.S.)
- Britania (India)
- Mckee Foods Corporation (U.S.)
- ARYZTA (Switzerland)
- Foodco Group Pty Ltd (Australia)
- Finsbury Food Group Plc (U.K.)
- Flowers Food (U.S.)
Information Source: https://www.fortunebusinessinsights.com/muffins-market-103834
Segmentation:
Packaged Segment Leads Due to Widespread Availability
The muffins market is divided into packaged and fresh muffins, with the packaged segment holding the largest share. This dominance is driven by the wide variety of flavors available and the extensive penetration of packaged muffins in retail channels.
Sweet Segment Captures Major Share Due to Growing Health Awareness
The market is also segmented into sweet and savory muffins, with sweet muffins holding a significant share. This is largely due to increasing consumer awareness about the health benefits of sweet muffins, which often include whole grains and fruit-based ingredients. As consumers seek indulgent yet healthier snack options, sweet muffins are gaining popularity, reinforcing their dominant position in the market.
Supermarkets/Hypermarkets Lead the Market Share, Driven by Expansion in Emerging Markets
The muffins market is further segmented by distribution channel, which includes online retail, grocery and convenience stores, specialty stores, and supermarkets/hypermarkets. The supermarkets and hypermarkets segment holds the largest share, benefiting from competitive pricing, a broad selection of products, and the rapid growth of retail outlets in developing countries.
Regional Market Growth
Geographically, the muffins market spans across North America, South America, Asia Pacific, Europe, and the Middle East & Africa. These regions are expected to play a key role in the market’s growth, driven by changing consumer preferences and the expansion of retail networks.
Report Coverage:
The report provides valuable insights into key trends within the muffins market, emphasizing critical factors that are expected to influence the global business landscape. It offers a comprehensive analysis of the industry across various segments, including product type, muffin type, distribution channel, and geography. This in-depth breakdown allows stakeholders to gain a deeper understanding of market dynamics and identify potential growth opportunities in the evolving muffins market.
Drivers and Restraints:
Industry Value to Rise Owing to Surging Popularity of Convenience Foods
The increasing consumer preference for convenience foods and bakery products is expected to drive substantial growth in the muffins market. Many industry players are adopting innovative technologies to meet consumer demands for convenience, variety, nutrition, and freshness. Additionally, companies are investing in research and development to explore new baking techniques that improve product quality.
However, the presence of alternative bakery products could pose a challenge to market expansion, as consumers may opt for these alternatives based on changing tastes and preferences. For muffin manufacturers, staying competitive by addressing this shift in consumer behavior will be crucial for maintaining and growing their market share.
Regional Insights:
Europe Accounts for Dominant Share Impelled by Rising Bakery Product Demand
The Europe muffins market holds a leading position, driven by the convenience these products provide and the growing consumer demand for bakery items.
In North America, the muffins market ranks as the second largest, fueled by the increasing availability of easy-to-prepare foods, the rising popularity of convenience products, and a growing consumer appetite for muffins. This trend reflects a broader shift towards on-the-go snacks that align with busy lifestyles, further driving market growth in the region.
Competitive Landscape:
Leading Market Players Launch New Products to Increase their Customer Base
Industry players are adopting new strategies, such as innovative packaging and the launch of novel products, to broaden their customer base and enhance their market presence. Key participants in the muffins market include ARYZTA, Hostess Brands, Inc., Food Solutions Switzerland AG, and McKee Foods Corporation. These companies are focused on leveraging creativity and quality to meet changing consumer preferences while maintaining a competitive advantage in the industry.
Key Industry Development:
February 2024 – Oreo has launched its new Oreo Muffins, designed to expand the company's product range. Each muffin is individually wrapped and contains vanilla-flavored pieces, adding to its appeal. This new offering aims to attract loyal Oreo fans by providing a convenient, delicious snack that blends the classic Oreo flavors with the soft texture of muffins.
