In 2023 and 2033, respectively, the baking trays and moulds market is expected to generate US$ 840.9 million and US$ 1,520.3 million. Demand is anticipated to grow at a CAGR of 6.1% during the next few years.
The rise in popularity of convenience foods may be to blame for the recent growth in the market for baking trays and moulds. Due to how quick, easy, and efficient baking trays and moulds are for usage in both commercial and home settings, they are frequently used. Because the baking trays and moulds are heat-resistant, a variety of meals can be produced uniformly.
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The demand for baking trays and moulds is rising as consumers want convenience and a wide variety of foods. For instance, the comfort and simplicity of washing non-stick silicone bakeware pans has increased demand. Consumer desire for products that may be manufactured to order is driving up the need for custom baking trays and moulds.
The market is expanding as a consequence of rising consumer demand for environmentally friendly and long-lasting baking trays and moulds. The usage of silicone, glass, and bamboo as examples of organic and biodegradable materials for their goods is being emphasised by the manufacturers. The market is expanding as a result of the surge in demand for vibrant, attention-grabbing, and stylish baking moulds and trays.
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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.
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.
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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
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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