The global muffins market, 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, reflecting a compound annual growth rate (CAGR) of 4.56% during the forecast period, according to the Fortune Business Insights™ report titled "Muffins Market, 2024-2032."
Muffins, offered in popular flavors like banana, chocolate chip, and blueberry, continue to enjoy strong consumer demand. This growing preference is expected to drive substantial industry expansion in the years ahead.
Information Source: https://www.fortunebusinessinsights.com/muffins-market-103834
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.)
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 availability of packaged muffins across 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 mainly due to increasing consumer awareness of the health benefits of sweet muffins, which often contain 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 Market Share, Driven by Expansion in Emerging Markets
The muffins market is further segmented by distribution channel, including online retail, grocery and convenience stores, specialty stores, and supermarkets/hypermarkets. Supermarkets and hypermarkets hold the largest market share, driven by competitive pricing, a wide range of products, and the rapid growth of retail outlets in emerging markets.
Regional Market Growth
The muffins market spans across North America, South America, Asia Pacific, Europe, and the Middle East & Africa. These regions are poised to play a crucial role in the market's growth, driven by evolving consumer preferences and the continuous expansion of retail networks.
Report Coverage:
The report provides valuable insights into key trends shaping the muffins market, emphasizing critical factors influencing the global business landscape. It delivers a comprehensive analysis across various segments, such as product type, muffin type, distribution channel, and geography. This in-depth breakdown equips stakeholders with a deeper understanding of market dynamics, helping them identify potential growth opportunities in the evolving muffins industry.
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 anticipated to drive substantial growth in the muffins market. To cater to the demand for convenience, variety, nutrition, and freshness, industry players are embracing innovative technologies and investing in research and development to discover advanced baking techniques that improve product quality.
However, the market faces challenges from the availability of alternative bakery products, which may attract consumers with evolving tastes and preferences. For muffin manufacturers, staying competitive and adapting to these shifting consumer behaviors will be essential to maintaining and growing their market share.
Regional Insights:
Europe Accounts for Dominant Share Impelled by Rising Bakery Product Demand
The Europe muffins market maintains a leading position, driven by the convenience these products provide and the increasing consumer demand for bakery items.
In North America, the muffins market ranks as the second largest, bolstered by the growing availability of easy-to-prepare foods and the rising popularity of convenience products. Consumers' preference for muffins reflects a broader trend toward on-the-go snacks that align with busy lifestyles, further contributing to the market's expansion in the region.
Competitive Landscape:
Leading Market Players Launch New Products to Increase their Customer Base
Industry players are adopting innovative strategies such as unique packaging designs and the launch of new products to attract a wider customer base and enhance their market presence. Key players in the muffins market include ARYZTA, Hostess Brands, Inc., Food Solutions Switzerland AG, and McKee Foods Corporation. These companies are prioritizing creativity and quality to meet shifting consumer preferences while maintaining a strong competitive position in the market.
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Key Industry Development:
February 2024 – Oreo has launched its new Oreo Muffins, expanding its product portfolio with a unique offering. Each individually wrapped muffin is infused with vanilla-flavored pieces, adding to its appeal. This product is designed to captivate loyal Oreo fans, providing a convenient and delicious snack that blends the iconic Oreo flavors with the soft, fluffy texture of a muffin.
