Forecasts indicate that the baking trays and moulds market will generate US$ 840.9 million in 2023 and US$ 1,520.3 million in 2033. Over the foreseeable period, demand is expected to increase at a CAGR of 6.1%.
Recent expansion in the market for baking trays and moulds might be attributed to the rise in popularity of convenience foods. Baking trays and moulds are a common option for use in both commercial and residential settings since they make food baking quick, simple, and effective. A variety of meals may be prepared uniformly thanks to the heat-resistant design of the baking moulds and trays.
As customers look for ease and a wide selection of goods, the need for baking moulds and trays is growing. For instance, demand has increased as a result of the convenience and ease of cleaning non-stick silicone baking moulds and trays. The demand for custom baking trays and moulds is rising as a result of consumer demand for products that may be made to order.
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The market is growing as a result of growing customer demand for baking trays and moulds that are sustainable and friendly to the environment. Manufacturers are emphasising the use of silicone, glass, and bamboo as examples of organic and biodegradable materials for their products. Finally, the industry is growing as a result of the rise in demand for colourful, eye-catching, and stylish baking moulds and trays.
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.
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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
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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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