It’s Pancake Tuesday, also known as Shrove Tuesday or Mardi Gras, and across America, millions of people will be digging into a stack of pancakes. The event marks the end of Carnival and the beginning of the Christian observance of Lent, a time when Christians are expected to make Lenten sacrifices and observances. Shrove Tuesday, the day preceding Lent, is a time when Christians can use up rich foods such as eggs, milk and sugar, before the fasting season of the 40 days of Lent. 

According to the PM Group, more than 2.5 tons of pancakes are consumed each year. That is equal to 75 billion pancakes annually. It’s believed pancakes were eaten as far back as prehistoric times.

Americans are happy to partake in eating pancakes just about any day of the year, with the sale of pancake mixes seeing a sharp increase in 2023, climbing to just over $546 million in sales, according to a new report from ReportLinker 

In 2023, VMAIL reported that sales of pancake mix were expected to grow by more than 5.43 percent over the next five years. 

Current data shows that this is growth in the market expected to decrease slightly to 5.42 percent by 2028.

Experts believe this may be due to a variety of factors including a slumping economy, supply chain issues and interventions of governments through higher interest rates. Despite these factors, growth is still expected to remain steady due to consumers looking for more inexpensive and easy meal options at home. Consumers are also looking for additional ways to save money on dining out experiences. 

Many restaurants are tapping into this market and have added pancakes to their menus in an effort to provide hearty and affordable meal options. They also increase profits for restaurants as they are quick and easy to make, while offering some health benefits. 

Packaged mixes remain one of the favorite ways for consumers to eat pancakes, with healthier and more diverse options available, such as gluten-free mixes.