Technavio’s latest report on the global muffins marketprovides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
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Technavio has published a new report on the global muffins market from 2017-2021. (Graphic: Business Wire)
The global muffins market is highly fragmented with the presence of large global players as well as local bakery stores in different regions of the world. These global players are continuously experimenting with flavors and processing techniques to capture a large share of the market. These brands face stiff competition from local vendors as they provide fresh products as compared to packaged muffins added with preservatives.
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The top three emerging trends driving the global muffins market according to Technavio food and beverage research analysts are:
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Healthy options to gain market share
“In recent times, the trend of weight loss and being healthy is witnessed all over the world. The impact of this trend is most prominent in the food and beverages sector. In order to meet the health requirements of consumers and to differentiate their products in the market, vendors are coming up with products made with whole wheat, whole grains, or multigrain,” says Atul Kumar, a lead analyst at Technavio for research on food.
Apart from changing the type of flour that is used to produce muffins, several other ingredients are added in the preparation of muffins like fruits, chia seeds, and others, to enhance the nutritional value of the end products. Muffins with blueberries and strawberries are very popular for their taste and also for the nutritional value of blueberries. Manufacturers are coming up with such innovations in muffins to market these products as healthy offerings.
Increasing trend of savory muffins
“In recent times, consumers' tastes and preferences are changing, and many are willing to experiment with the type of food that they take, including bakery and confectionary products. In line with this, muffins, which are traditionally sweet items, are now being offered in savory varieties as well. With innovations in the bakery food processing techniques and flavors, vendors are coming up with muffins that incorporate several varieties of seasoning, garnishing, and additives,” adds Atul.
Savory muffins generally contain cheese, parsley, meat, and other fillings. Many bakers are also experimenting by adding both sweet and savory flavors to muffins to give them a twist of taste. This availability of muffins in distinct flavors will increase their consumption in the coming years.
Expansion of in-store bakeries in supermarkets
With the growing number of private label products by large retail chains, the trend of opening in-store bakeries in supermarkets has been proven to be profitable. In recent times, there has been a greater penetration of the organized retail sector in emerging economies. The number of customers visiting these stores has also increased because of the availability of a wide variety of products under the same roof.
The demand for bakery products like muffins has increased with the introduction of in-store bakeries in these supermarkets. This demand is also propelled by the fact that people who come to shop like to have snacks, and they may prefer to opt for a snack which is available in distinct flavors and in both sweet and savory tastes within the store itself.
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