Factors such as hectic lifestyle and need for easily consumable products in emerging economies will fuel Frozen Bakery Market during the forecast timespan. Further, product innovation and advancement in techniques including hydrocolloids, enzymes and sourdough fermentation to improve quality of these goods will lead to growth in frozen bakery products. Enhanced lifestyle of consumers worldwide is increasing adoption of these products in their daily diet. Frozen Bakery Market size is anticipated to cross USD 57,248.57 Million by 2027; according to a new research report by Global Market Insights, Inc.
Consumers’ preference for eye appealing, nutritious and longer shelf life products, without compromising in quality and taste has switched manufacturers to frozen bakery products from fresh bakery goods. Additionally, economic growth of some countries is the preliminary driving factor of the market, as consumers have become capable of affording high priced products with improved shelf life and nutritional value. The product market has led to increase in processed food production and will introduce innovative and diverse range of frozen bakery products.
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However, preference for freshly baked and conventional products will obstruct the growth of the product market. Health related problems and concern of maintaining the temperature are other factors that can hinder the global market.
Frozen cakes & pastries are expected to dominate the product market from 2021 to 2027. Increase in import and exports of these products in regions such as Europe and North America will complement its growing market share worldwide. Additionally, cakes & pastries with low protein wheat and higher gluten-starch ratio have witnessed popularity and will contribute significantly to the product industry. Frozen cakes are further segmented into pancakes, muffins and pound cakes.
Supermarket & hypermarket segment is estimated to surpass market value of USD 9 billion in 2024 in the market. Supermarkets have been successful in acquiring substantial share in the market as they offer assorted products at low prices manufactured by major bakeries. They also have in-store bakeries that produce a variety of baked products. Increasing population and one roof shopping solution provided by supermarket and hypermarket are expected to maintain the channel’s market share.
Asia Pacific will grow at a significant pace and account for a share of more than 20% in the market. Positive outlook of the region is attributed to consumers’ inclination toward frozen products from regular items in their meal. Additionally, frozen food adoption is increasing owing to its benefits of ease in availability, better quality, environment friendly manufacturing, and reasonable pricing.
The consumption of frozen bakery products in Middle East & Africa is projected to exceed 220 kilo tons in 2024. Factor driving consumption of these products in this region is consumers’ shift of dietary preferences to ready-to-eat products due to their hectic life schedule. Furthermore, escalating number of retail chains has given a boost to availability of these products.
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The product market is highly consolidated with prominent manufacturers in the market which include ConAgra Brands, Lantmannen Unibake, Kellogg Company, Grupo Bimbo, Europastry, Cole’s Quality Foods, General Waffel, Bridgford Foods, Pepperidge Farm. Other significant players are Maple Leaf Foods, Custom Foods, Aryzta, Associated British, and Cargill Incorporated.
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