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Frozen Bakery Products Market: Current Analysis and Forecast (2021-2027)

SKU ID : UMI-19274202 | Publishing Date : 07-Oct-2021 | No. of pages : 171

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Global Frozen Bakery Market was valued at US$ 22.6 Billion in 2020 and is anticipated to reach US$ 33.2 Billion by 2027 displaying an elevated CAGR of 5.2% over the forecast period (2021-2027).
Frozen Bakery Products like Bread, Pizza Crusts, and Cakes & Pastries are mostly obtained from wheat, rice, and barley. Frozen bakery products are progressively becoming an important part of the daily diet, particularly in Europe and North America. Bread manufacturing industries are witnessing high growth because of the rise in demand from consumers due to their busy lifestyles. The demand for frozen bakery products is increasing in developing regions owing to the increase in disposable income. Moreover, the increasing consumer preference toward convenience foods, easy availability of frozen bakery products, and improving economic conditions. In addition, the increase in rural-urban migration has led to an increase in street vending, ready-to-eat, and convenience foods. Furthermore, the diversification of distribution channels, introduction of frozen bakery products having a longer shelf life, an increase in the working population, and busy lifestyle is also deriving the market growth.
Insights Presented in the Report
“Amongst Type, Bread segment holds the major share.”
Based on Type, the market is fragmented into Bread, Pizza Crusts, and Cakes & Pastries. The bread segment holds the largest share in 2020 due to the rise in its demand in the France, UK, Italy, and Germany region. The rise in wheat production in the recent few years is further intensifying the segment growth. According to the OECD‑FAO Agricultural Outlook (2020‑2029) report, Global wheat production is expected to reach 839 Mt by 2029, growing at a more moderate pace compared to the last decade. Amongst the developed countries, wheat production is the highest in the European Union with high grain quality. The Pizza Crusts segment is expected to register the highest CAGR in the upcoming period due to the increase in its demand in commercial as well as retail stores. In addition, the rise in veganism trend is intensifying the segment growth. With the rise in the number of vegans, the manufacturing companies are strategizing the production of pizza crust. For instance, in 2018, B&G Foods launched cauliflower pizza crust in the North American region.
“Amongst Form of Consumption, Ready-to-Bake is anticipated to grow at the highest CAGR during the analyzed period.”
Based on the Form of Consumption, the market is fragmented into Ready-to-Proof, Ready-to-Bake, and Ready-to-Eat. The Ready-to-Bake segment holds the largest share in 2020 and is expected to register the highest CAGR in the upcoming period owing to an increase in demand for pre-baked products that take less time during the baking process. In addition, the introduction of freezing technology in baking offers the best-known preservation solutions for the bakery industry by improving the shelf life of products. For instance, blast freezing is a fast thermal preservation technology employed in the bakery to extend the product’s shelf life and to preserve its physicochemical stability, safety, and freshness. Blast freezers blow very cold air (typically at -30°C and -50°C and high flow rates of 3.0–6.0 linear meters per second) over the product. Moreover, the incorporation of low-temperature freezing technologies leads to the rise in the commercial value of bakery products.
“Amongst Distribution Channel, Conventional Stores segment are anticipated to grow at the highest CAGR during the analyzed period.”
Based on Distribution Channel, the market is fragmented into Conventional Stores and Specialty Stores. The Conventional stores segment holds the largest share in 2020 and is expected to register the highest CAGR in the upcoming period due to the rising number of Conventional stores. For instance, as per the latest NACS/Nielsen Convenience Industry Store Count (2020), there are 150,274 convenience stores in the U.S. Region.
“North America signifies one of the largest markets and Europe is expected to be the fastest-growing markets of Frozen Bakery Products market.”
For a better understanding of the market adoption of Frozen Bakery Products, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America will dominate the Frozen Bakery Products market on account of the busy lifestyle and rise in the number of convenience stores. The rising disposable income is leading to high purchasing power which is further intensifying the Frozen Bakery Products Market. As per the OECD, United States holds the highest disposable income, followed by Germany and Switzerland. Some of the major players operating in the market include Dawn Food Products, Inc., Europastry, S.A, Lantmannen Unibake., Grupo Bimbo, S.A.B. Dec.V, Aryzta Ag, General Mills, Inc., Cole's Quality Foods Inc., Conagra Brands, Inc., Bridgford Foods Corporation. Several M&As along with partnerships have been undertaken by these players to boost their presence in different regions.
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