Pancakes market size, share & industry analysis, By Flour Type (Wheat Flour, Rice Flour), By Packaging (Fresh, Frozen), By End-Use Application (Commercial, Household) and regional Forecast, 2024-2032

The pancakes market is witnessing significant growth due to its wide consumption as breakfast  in different parts of the world. Pancake is a flat cake, made with ingredients such as flour, eggs, milk and others on a flat pan. Pancakes can be made from whole-wheat flour, rice flour and paired with fruits instead of butter and syrup to make it healthy and nutritious. Further, the consumers these days’ demand for low-calorie and healthy food products due to their growing health consciousness and this has supported the pancakes market growth.

The pancakes are widely consumed as a convenience food as it requires minimum time for preparation and are also easily available in many fast food chains and restaurants. Also, factors such as minimal cooking-time and associated health benefits with pancakes has increased its demand amongst working population.

The increase in consumers’ demand for healthy and innovative variants of food products has contributed in driving pancakes market growth. New pancake variants with healthy ingredients such as gluten-free and vegan are being introduced by the manufacturers to suffice the increasing demand. Further, the changing consumers taste preferences has led to introduction of new flavours such as tiramisu and Nutella pancakes and this new launches would support its market growth.

Pancakes are high in carbohydrates and are traditionally topped with butter and syrups that are high in fat and calories, which leads to negative health effects such as obesity, diabetes and others. This would negatively impacted the market growth.

Key Players Covered:

The key companies operating in the global pancakes market are, Bob's Red Mill Natural Foods, Inc., C.H. Guenther & Son, Inc., Continental Mills, Inc., Dawn Food Products, Inc., General Mills, Inc., Horizons for the Blind, The J.M. Smucker Co., Foxtail Foods., Swiss Bake Ingredients Pvt. Ltd., and International House of Pancakes, LLC.

The global pancakes market is segmented by flour type, packaging, end-use application and geography. The flour type segment is led by wheat flour type as it is traditionally used for preparing pancakes along with that it imparts fluffiness and soft texture to it.

By packaging, fresh pancakes segment is holding the major share as consumers nowadays prefer freshly prepared foods compared to the frozen as they are perceived to be healthy and more flavourful.

The commercial end-application segment is expected to hold the major share in the market as many restaurants and cafes serve pancakes on a regular basis to the consumers with various toppings and syrups.

Regional Analysis:

North America is witnessing a significant growth in the pancakes market due to its consumption as a staple breakfast meal. The rise in number of working people and their dependency on the ready-to-eat breakfast has fuelled its regional sales performance.

Europe is expected to observe substantial growth in the pancakes market in the coming years due to the consumers increasing awareness regarding healthy eating. The ease of digestion and free from allergens are some of the benefits offered by gluten-free and vegan pancakes. Further, the pancakes manufacturers introducing new vegan varieties of pancakes have boosted its regional market growth.

Asia Pacific region is anticipated to witness significant growth in the foreseeing years due to the increase in adoption on westernized culture by the consumers. The rise in new restaurants and cafes being established in the countries such as India and Japan, have opened new ways for the pancakes market. This has further increased the consumption of pancakes which has propelled its regional market.

Segmentation

Key Industry Developments

• In March 2020, IHOP, an America-based multinational pancake restaurant company, launched cereal pancakes and shakes in three new variants. The cereal pancakes -Cinnamon Toast Crunch Pancakes, Crunch Berries Pancakes, and Fruity Lucky Charms Pancakes, were launched due to the increased demand of consumers. This new product launches helped the company strengthen its market presence.


• In September 2019, IHOP launched gluten-friendly buttermilk pancakes to its gluten-friendly line-up to expand its product portfolio. The pancakes have the same texture and flavour as the brand’s signature pancakes.