Yeast shortages and the bread-baking craze filled news and social media platforms in the past year as home baking skyrocketed amid stay-at-home mandates. Categories like baking mixes, ingredients, and flours are experiencing a sales boom that, while slowing, still continues. According to the Specialty Food Association’s recently released annual State of the Specialty Food Industry research, between 2018 and 2020, the $1.8 billion specialty category grew 41% in dollar sales. By comparison, the total baking mixes, ingredients, and flours category grew 26.2% during the same timeframe.
The bulk of growth occurred in 2020 as consumers stayed closer to home during COVID-19. The category grew 35% between 2019 and 2020. Baking ingredients like cornstarch and rising agents led pandemic-influenced growth, increasing 37% from 2019 to 2020. Flours grew 35% percent in the same period, while baking mixes jumped 28% percent. According to data from market research firm Mintel, 58% of U.S. consumers said they have tried a new cooking/baking recipe since the pandemic started. And with baking specifically, in January 2021, 31% of U.S. consumers said they were baking more often and planned to continue doing so, compared to a year ago, said Melanie Bartelme, global food analyst at Mintel.
As stay-at-home restrictions loosened in 2021, sales growth slowed. From January to April 2021, sales of baking mixes, ingredients, and flours decreased 10% versus the same time 2020, as was the case for all categories that exploded during early-phase panic buying of spring 2020. According to SFA’s research, the baking mixes, ingredients, and flours category is forecasted to reach $2.3 billion by 2025 at a CAGR of 6,4%, closer but still above its pre-pandemic 6% CAGR. Bartelme also points to grain-free varieties like cauliflower and cassava as growing and expects to see more as the keto diet increases in popularity. In addition to alternative grains and grain-free, reduced sugar in baking mixes and products that contain upcycled ingredients are also growing trends.
Source: Specialty Food Association Date: 07-26-2021
Effects on Costa Rica exports
The food industry in Costa Rica has been in constant growth and evolution due to a combination of unique tropical flavors and innovative producers. Today, the excellence, innovation and sustainability has made the offer of food produced in Costa Rica unique and supported by high international standards.
Nowadays, Costa Rica offers a variety of grain-free flours including plantain, breadfruit, and cassava. All of them are gluten-free options and have good nutritional and digestive properties.
In the first semester of 2021, Costa Rica registered USD 1.013 million in exports of the food industry (5% CAGR 2017-2021), the main destinations were Mexico (13%), Guatemala (12%), USA (10%) and Panama (10%). In total, there were 92 destinations.
If you are interested in learning more about the Costa Rican offer in the grain-free flours, you can contact us at email@example.com
Based on thisCommercial Alerts, at which level will you recommend it to other exporter?
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