Increasing demand for packaged food products owing to the rise in population and individual disposable incomes has gradually fueled the frozen bakery market over the last few years. An evolving way of life constituting busier work days and hectic daily schedules has created a need for faster, easily consumable food. Continuous demand for bread, donuts and other snacks have further expanded the global frozen industry, as these products form an important part of the daily consumption and expenditures of most families. Introduction of new food items by brands to keep up with changing consumer trends, growing number of supermarkets and grocery stores that offer vast shelf space as well as affordability of ready-to-eat products will considerably boost the frozen bakery market revenue.
What are the benefits of frozen food which have strengthened the demand for frozen bakery products?
Essentially, frozen foods have an improved shelf life and better flexibility to be used according to needs, allowing for a longer period of storage. Establishments such as quick-service restaurants, without losing the nutrient value, are able to take advantage of frozen dough to prepare bread, pizzas and cakes faster. Food manufactures can mass produce various bakery products and transport them to other states and even export them. Frozen pizzas, for instance, are flash-frozen to make sure the product retails its taste and nutrients, with consumers able to store them for months to be used when required.
Which product segment is expected to dominate the frozen food market in the next few years?
A significant growth in consumption from North America and Europe will drive the frozen cakes and pastries market worldwide, which is anticipated to be the largest product segment from 2017 to 2024. These products, being suited for consumption in family desserts and celebrations to larger events, are simpler to produce and package, supported by the numerous types and flavors available. Low-cost and utilization of smaller shelf space has made products like frozen muffins, pancakes and pound cakes a favored commodity for retailers and small restaurants. Rising health awareness among consumers will generate additional demand for cakes and pastries containing enhance gluten-starch ratio and low protein wheat content, transforming the frozen bakery market dynamics.
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Which region is anticipated to capture a sizable share of the global frozen bakery market?
With a greater penchant for frozen products due to their wide availability, combined with reasonable prices and superior quality, the Asia-Pacific frozen bakery industry is expected to account for a significant 20% share of the global market over the forecast period. The region is also witnessing a rising number of retail chains and upsurge in investments in the manufacturing sector, with more focus put on eco-friendly production and packaging. A key driving factor propagating the APAC frozen bakery market is the accelerated economic growth in countries like China, India and other Southeast Asian nations, encouraging producers to increase food processing capacities and innovating a variety of frozen bakery offerings.
What have industry players been doing to thrive in the frozen bakery market?
A number of prominent industry participants constitute the global frozen bakery market landscape, including ConAgra Brands and the Kellogg Company, which offer several products that are supplied to every continent. Lantmannen Unibake is another key player which produces frozen buns, pretzels, artisan loafs, among other widely bought products. Cole’s Quality Foods, Grupo Bimbo, General Waffel, Maple Leaf Foods and Pepperidge Farm are some other significant market players. Product innovation is thus a widely adopted strategy in this industry.