Meticulous Research® – leading global market research company, published a research report titled “Frozen Bakery Products Market by Product Type (Breads, Pizza Crust, Cookies & Biscuits, and Waffles), End Use (QSR, Hotels, Restaurants, and Catering, Bakery Chains, and Food Processing Industry), Specialty (Low-Calorie and Organic )—Global Forecast to 2027.”
According to this latest publication from Meticulous Research®, the Frozen Bakery products market is expected to grow at a CAGR of 4.8% from 2020 to 2027 to reach $59.9 billion by 2027. The growth of the frozen bakery products market is mainly attributed to increasing urbanization and inclination towards convenience foods, changing consumer taste and preferences, the growing global cold-chain market, and the availability of a wide range of bakery products across various distribution platforms. However, the preference for freshly baked goods and temperature monitoring requirements are expected to restrain the future growth of this market to some extent.
The global frozen bakery products market study presents historical market data in terms of value (2018 and 2019), estimated current data (2020), and forecasts for 2027—by product type (breads, pizza crusts, cakes & pastries, cookies & biscuits, donuts & pies, and waffles), by use (ready-to-proof, ready-to-bake, ready-to-eat), by end use (artisan bakers, hotels, restaurants, and catering, supermarkets & hypermarkets, bakery chains, and the food processing industry), by specialty type (specialty [low-calorie, gluten-free, organic, fortified, sugar-free, and other specialty types] and no specialty), and geography. The study also evaluates industry competitors and analyzes the market at regional and country levels.
Based on type, the breads segment is estimated to account for the largest share of the market in 2020. The large share of this segment is mainly attributed to the increasing consumption of bread across the globe, strong growth in the fast-food segment, ready-to-eat product chains, and quick-service restaurants. Also, the growing consumer preference and availability of healthy, whole-grain and multi-grain products are expected to support the growth of the frozen bread segment.
Based on use, the ready-to-bake segment is estimated to command the largest share of the frozen bakery products market in 2020. The key factor driving the demand for ready-to-bake frozen bakery products is the rising trend of bake-off bakery products in the food processing industry and convenience food stores to save the time and costs involved in scratch baking.
Based on end user, the supermarkets & hypermarkets segment is expected to register the fastest growth during the forecast period. The rapid growth of this segment is mainly attributed to the rise in small bakery facilities to meet the demand for frozen bakery products, the increasing number of supermarkets & hypermarkets across the globe, and the easy availability of frozen bakery products at low prices in supermarkets & hypermarkets.
Based on specialty type, the fortified frozen bakery products segment is estimated to account for the largest share of the market in 2020. Urbanization and the worldwide increase in the working population have boosted the demand for healthy and convenient food products, which are a few of the major factors driving the demand for fortified frozen bakery products. Also, the growing health consciousness among consumers further supports the growth of this segment.
This research report analyzes major geographies and provides a comprehensive analysis for North America (the U.S. and Canada), Europe (Germany, France, the U.K., Italy, Spain, and the rest of Europe), Asia-Pacific (China, India, Japan, and RoAPAC), Latin America, and the Middle East & Africa. Europe is estimated to hold the largest share of the frozen bakery products market in 2020, followed by North America and Asia-Pacific. However, the Asia-Pacific market is expected to register the fastest growth during the forecast period 2020-2027. The rapid growth of this regional market is mainly attributed to the accelerated economic growth of many countries in this region, increasing urbanization and disposable incomes, and the rising working population.
The frozen bakery products market space is characterized by a moderately competitive scenario due to the presence of many large- and small-sized global, regional, and local players. The key players operating in the frozen bakery products market are Associated British Foods Plc. (U.K.), Nomad Foods (U.K.), Oetker-Gruppe (Germany), Grupo Bimbo (Mexico), Europastry, S.A (U.S.), General Mills Inc. (U.S.), Aryzta AG (Switzerland), Vandemoortele NV (Belgium), Conagra Brands, Inc. (U.S.), Campbell Soup Co. (U.S.), Lantmännen Unibake International (Denmark), Kellogg Co. (U.S.), and Nestle SA (Switzerland).
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