According to The Insight Partners study on “Frozen Bakery Products Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type (Breads and Rolls, Cakes and Pastries, Cookies and Biscuits, and Others), Category (Gluten-free and Conventional), and End User (Foodservice and Food Retail),” the market is expected to grow from US$ 25,312.32 million in 2021 to US$ 33,308.15 million by 2028; it is expected to grow at a CAGR of 4.0% from 2021 to 2028. The report highlights key factors driving the market growth and prominent players along with their developments in the market.
Report Coverage Details
Market Size Value in- US$ 25.31 Billion in 2021
Market Size Value by- US$ 33.3 Billion by 2028
Growth rate- CAGR of 4.0% from 2021-2028
Forecast Period- 2021-2028
Base Year- 2021
No. of Pages- 166
No. Tables- 83
No. of Charts & Figures- 80
Historical data available- Yes
Segments covered- Product Type , Category , and End Use and Geography
Regional scope- North America; Europe; Asia Pacific; Latin America; MEA
Country scope- US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage- Revenue forecast, company ranking, competitive landscape, growth factors, and trends
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The demand for frozen bakery products is surging, owing to rising consumer preference toward processed or convenience foods. In addition, the easy availability of frozen bakery products has influenced the buying pattern for the shoppers who are concerned with the dietary merchandise and rendered a firm place to the frozen bakery products in the list of daily consumables. Moreover, due to the growing food & beverages industry and improving economic conditions, consumers in developed and developing regions worldwide are moving toward convenience foods. The rural–urban migration has also increased in developing countries which has led to an increase in street vending, ready-to-eat, and convenience foods. As a result, there has been a notable rise in the consumption of ready-to-eat foods, which has resulted in a significant increase in the market for convenience foods. Further, frozen bakery products have also found a shelf in retail stores and supermarkets due to the diversification of distribution channels. In addition, other factors driving the demand for convenience foods include change in working demographics and a busy lifestyle. Therefore, the demand for frozen bakery products is expected to increase in response to the growing demand for convenience foods.
Impact of COVID-19 Pandemic on Frozen Bakery Products Market
The COVID-19 outbreak has impacted different industries in different manner. Amid the pandemic, the lockdown imposition is restricting the supply chain of frozen bakery products. The unavailability of raw materials and labor, due to the restrictions on the movement of people, is hindering the production of frozen bakery products. The frozen food industry has seen a steady growth amid pandemic as people are consuming foods that have a longer shelf life. According to the President of American Frozen Food Institute (AFFI), the US based frozen foods players has seen the sales of the frozen food products in the US were increased by 18.2% in 2020, which is approx. US$ 66 billion in sales.
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Based on product type, the global frozen bakery products market is segmented into breads and rolls, cakes and pastries, cookies and biscuits, and others. In 2020, the bread and rolls segment accounted for the largest market share. Bread is a staple food prepared from a dough of water and flour. It has been a prominent food in many countries for a very long period. As the breads are prepared from the frozen dough, the biological materials, which are present, should be viable and metabolically active till the time of baking where these ingredients are denatured or killed.
The frozen bakery products market is segmented into five main regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). In 2020, Europe accounted for the largest share in the market.
Frozen Bakery Products Market: Competitive Landscape and Key Developments
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.; and Bridgford Foods Corporation are among the key players in the global Frozen Bakery Products market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.
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