Report : North America Prepared Flour Mixes Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Category (Gluten-Free and Conventional), and Application (Breads, Cakes and Others)
The Conventional Segment to Dominate North America Prepared Flour Mixes Market during 2021-2028
According to a new market research study on “North America Prepared Flour Mixes Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast – by Category, Application and Country,” is expected to reach US$ 6,453.92 million by 2028 from US$ 4,263.49 million in 2021. The market is estimated to grow at a CAGR of 6.1% from 2021 to 2028. The report provides trends prevailing in the North America prepared flour mixes market along with the drivers and restraints pertaining to the market growth. Widening application scope, and growth of bakery industry are major factors driving the growth of the North America prepared flour mixes market. However, fluctuations in raw material prices may hinder the growth of North America prepared flour mixes market.
North America is one of the worst affected economies due to the COVID-19 pandemic. The US recorded the highest number of COVID-19 confirmed cases in the region than Mexico and Canada. The unprecedented rise in the number of COVID-19 cases across the US and Canada along with the subsequent lockdown of manufacturing facilities in the countries have negatively influenced the growth of the food & beverages industry. However, with the reopening of several growth markets in the region, vaccination development, and initiatives taken by various governments to support economic and industrial growth, the demand for prepared flour mixes is anticipated to grow at a steady pace in the coming years.
The market for North America prepared flour mixes is segmented into category, application and country. Based on category, the market is segmented into gluten-free and conventional. In 2020, the conventional segment held the largest share in North America prepared flour mixes market. Based on application, the North America prepared flour mixes market is divided into breads, cakes and others. The cakes segment is expected to be the fastest growing segment over the forecast period. Based on country, the North America prepared flour mixes market is segmented into US, Canada and Mexico. In 2020, US held the largest share in North America prepared flour mixes market. Furthermore, in this present scenario of COVID 19 pandemic, the North America prepared flour mixes market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the North America countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for prepared flour mixes.
AB Mauri; Puratos; Lesaffre; Archer Daniels Midland Company; General Mills, Inc.; and Kerry Group are some of the leading companies in the North America prepared flour mixes market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
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