According to forecasts, the baking trays and moulds market is expected to exhibit significant growth in the coming years. It is projected to generate US$ 840.9 million in 2023 and reach US$ 1,520.3 million in 2033, with a compound annual growth rate (CAGR) of 6.1%.
One of the key factors driving the recent expansion in the market is the increasing popularity of convenience foods. Baking trays and moulds are widely used in both commercial and residential settings due to their ability to make food baking quick, simple, and effective. These heat-resistant trays and moulds enable uniform preparation of various meals.
The demand for baking moulds and trays is rising as customers seek convenience and a wide range of options. Non-stick silicone baking moulds and trays, which are easy to clean, have witnessed increased demand. Additionally, there is a growing trend for custom baking trays and moulds, driven by consumer preferences for personalized products.
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The market is also benefiting from the growing consumer demand for environmentally sustainable baking trays and moulds. Manufacturers are increasingly focusing on the use of organic and biodegradable materials such as silicone, glass, and bamboo. Finally, the industry is experiencing growth due to the rising demand for visually appealing and stylish baking moulds and trays that come in a variety of colors.
Overall, the baking trays and moulds market is set to thrive in the foreseeable future, driven by factors such as the popularity of convenience foods, the need for customization, sustainability concerns, and the demand for aesthetically pleasing products.
Key Takeaways
- In 2022, the United States ruled the baking molds & trays market, with a share of 15.2%.
- The baking molds & trays market increased at a 3.1% CAGR between 2016 and 2022, citing FMI’s study.
- The expansion of the market is anticipated to reach a market value of US$ 1,426.8 million by 2031.
- The expansion in China is anticipated to expand at an adequate CAGR of 6.53% by 2033. China’s market is likely to generate a share of US$ 115.7 million by 2033.
- Germany’s baking molds & trays market was expanding significantly, at a share of 2.7% in 2022.
- Between 2023 and 2033, the baking molds & trays sector is likely to increase in India with a size of US$ 78.8 million.
- The expansion in the United Kingdom is anticipated to expand at an adequate CAGR of 4.86% by 2033.
- Based on material, metal led with a market share of 32.6% in 2022, and continues to dominate the sector during the forecast period.
- Based on cavity type, multiple cavities are projected to lead the market by 2033. Initially, it was expanding at a market share of 79.9% in 2022.
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Key Strategies in the Industry
Companies that provide baking molds and trays are looking to grow their business and form strategic alliances with other producers to increase their product portfolio, product manufacturing capacity, and global presence. Many start-ups are focusing on providing cutting-edge solutions for the baking industry in this highly competitive market. The leading start-up companies in the baking molds and trays market include Bake Boss and Bake Rite.
Recent Developments
- New THC Chocolate Bar Polycarbonate Mold, a 9-piece multiple cavity baking mold constructed from FDA 21 CFR Compliant Polycarbonate, was introduced by Bold Maker in March 2021.
- Hans Brunner GmbH grew by establishing its first international subsidiary in Brazil in October 2020. Companies can complete client tasks quickly by communicating in local languages and eliminating time zones.
Key Players:
- Nordic Ware
- Guardini S.p.A.
- SILIKOMART S.r.l.
- Pavoni Italia S.p.A.
- Hans Brunner GmbH
- Dongguan AASIN Technology Co. Ltd.
- Panibois
Baking Molds & Trays Market Country Analysis:
United States: Lucrative Baking Molds & Trays Sector
The United States is considered a lucrative market for the baking molds and trays sector. It dominated the market in 2022 with a share of 15.2% and is expected to hold around 80% of the North America market until 2033. The baking industry in the United States is highly profitable, contributing nearly 2% of the country’s GDP. With a wide range of baked products, such as bread, rolls, and cakes, experiencing increasing consumption, the demand for baking molds and trays is growing rapidly in the United States.
United Kingdom: Growth Outlook for Baking Molds & Trays Sector
The United Kingdom’s baking molds and trays sector has been experiencing significant growth. The market was valued at US$ 21.4 million in 2022, and it is projected to expand at a compound annual growth rate (CAGR) of 4.86% during the forecast period, reaching a value of US$ 32.8 million. The popularity of baking as a hobby and the increasing number of home bakers have been key drivers of this growth. The demand is further fueled by the trend of healthy eating and the rising demand for convenience and specialty baked goods.
Silicone, glass, and metal are the most widely used materials for baking molds and trays in the United Kingdom. Metal molds hold the largest market share, accounting for approximately 70% of sales. However, silicone molds are gaining popularity due to their ease of use, ease of cleaning, and excellent non-stick properties.
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Key Segments
By Cavity Type:
- Single
- Multiple
By Material:
- Plastic
- Silicone
- Metal
- Wooden
- Others
By End Use:
- Commercial
- Household
- Industrial
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
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