Frozen Bakery Products Market Overview
Frozen bakery products allow customers prepare food in a short period of time without requiring a pastry chef or a specialized oven. They do not require any preservatives as microorganisms cannot grow when the temperature is below-9.5 °C. The other most important benefit of frozen bakery products is less food wastage as stores can bake based on demand, while keeping remaining products frozen and preserved.
The market for Frozen Bakery Products is mainly driven due to growing trend towards ready-to-bake products and rising demand for convenience food products due to hectic lifestyles. Also, quick-service restaurants and retail chains are being benefitted from frozen bakery products as they can now readily thaw frozen bakery products or prepare fresh items using frozen dough. But, the market growth can be constrained due to preference for freshly baked products, scarcity of raw materials along with high costs of packaging and transportation.
Frozen Bakery Products Market Forecast Report (2018-2023)
The Global Frozen Bakery Products Market has been estimated at USD 18.16 Billion in 2018 and is projected to reach USD 27.16 Billion by 2023, at a CAGR of 8.38% during the forecast period from 2018 to 2023.
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Frozen Bakery Products Market Segmentation
Global market for Frozen Bakery Products is segmented based on type and distribution channel. By type, the market is further sub-segmented into Frozen Bread, Frozen Pizza Crust, Frozen Cake & Pastry. By Distribution Channel, the market is further sub-segmented into Artisan Baker, Retail, Catering. Frozen bread market consists of the largest share followed by the frozen cakes and pastries market among others. Increased consumption of bread has created a saturated market for frozen bread while frozen cakes and pastries are growing fast.
Geographically, Global market for Frozen Bakery Products is segmented into North America, Asia Pacific, Latin America, Europe, and Middle-East and Africa. Europe is the biggest market in terms of market share across the globe, followed by North America. The European market for Frozen Bakery Products is witnessing a considerable growth due to high growth owing to increasing demand for “thaw-and-serve” and “bake-off” products that offer convenience to households as well as retail bakeries, grocery stores, and quick-service restaurants. The Frozen Bakery Products market in the Asia-Pacific region is projected to grow at the highest CAGR, which is greatly affected due to growing technological innovation, and increasing consumer preference towards convenience and ready-to-eat meals.
The major companies dominating this market for its products and services are
- Associated British Foods plc
- ARYZTA AG
- Lantmannen Unibake International
- EUROPASTRY, SA
- General Mills, Inc.
- Kellogg Company
- Premier Foods Plc
- Vandemoortele NV
- ConAgra Foods, Inc.
- Grupo Bimbo S.A.B. de C.V.
Key developments in the Market
- December 2017 – Europastry will have expanded its presence on Ulabox and Foodinthebox, two online sales platforms aimed at end customers.
- July 2017 – Grupo Bimbo acquired Panattiere, a Colombia-based frozen bakery company. This acquisition will provide an opportunity for the company to increase its footprint in the market by entering foodservice and in-store bakery channels.
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