Frozen Bakery Products Market to Reach US$ 33.3 billion with a CAGR of 4.0% from 2021 to 2028
According to our latest market 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$ 25.31 billion in 2021 to US$ 33.3 billion 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.
Due to their ease of preparation and quickness, ready-to-bake goods are preferred by consumers, driving up demand for frozen bakery goods. The market for frozen bakery products is expanding due to a rise in demand for processed food items and a change in consumer preference for baked goods. Due to ease, speedy preparation, easy product availability, and affordable prices, frozen bakery items are becoming more and more popular. The increasing demand from cafes and both small- and large-scale food chains is another factor contributing to the market's expansion.
A growing consumer preference for processed or convenient foods is driving up demand for frozen baked goods. Additionally, the accessibility of frozen bakery goods has changed the purchasing behaviour of consumers who are interested in dietary goods and given frozen bakery goods a secure place on the list of essential daily items. Additionally, customers in developed and developing nations alike are turning to convenience foods as a result of the expanding food & beverage industry and improved economic situations. In emerging nations, there has also been a rise in the number of street vendors selling ready-to-eat and convenience foods. The market for convenience meals has grown significantly as a result of the noticeable growth in the consumption of ready-to-eat foods. Furthermore, due to the expansion of distribution channels, frozen bakery items can now be found on shelves at supermarkets and retail establishments. In addition, changing working demographics and a hectic lifestyle are major factors influencing the need for convenience foods. As a result of the rising demand for convenience foods, it is anticipated that the market for frozen bakery items will rise. The introduction of frozen bakery items with a longer shelf life, a growth in the working population worldwide, and a rise in the number of women in the workforce are all contributing to the demand for convenience food. Frozen bakery goods are purchased by consumers, who keep them in their hectic schedules and devour them as needed.
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 well-established players operating in the frozen bakery products market.
Different industries have been affected by the COVID-19 epidemic in different ways. The installation of a lockdown during the epidemic is limiting the supply chain for frozen bakery goods. The manufacture of frozen baked goods is hampered by the lack of labour and raw materials as a result of the restrictions on human travel. People are consuming goods that have a longer shelf life, which has led to the frozen food industry's continuous expansion during the pandemic. The sales of frozen food items in the US increased by around 18.2% in 2020, according to the president of the American Frozen Food Institute (AFFI), which is situated in the US. 66 billion dollars in sales. The AFFI report from November 2020 states that during the pandemic, people were driven to purchase frozen food items due to a decline in grocery store visits and a need to be ready in case of a food scarcity. As the demand for frozen goods, such as frozen bakery items, has changed from the foodservice to domestic consumption, the supply chain for frozen food products has primarily moved from the foodservice to the retail sector.
The report includes the segmentation of the global frozen bakery products market as follows:
Frozen Bakery Products Market, by Product Type
Breads and Rolls
Cakes and Pastries
Cookies and Biscuits
Others
Frozen Bakery Products Market, by Category
Gluten-Free
Conventional
Frozen Bakery Products Market, by End User
Foodservice
Food Retail
Frozen Bakery Products Market, by Geography
North America
US
Canada
Mexico
Europe
Germany
France
UK
Italy
Russia
Rest of Europe
Asia Pacific (APAC)
Australia
China
India
Japan
South Korea
Rest of Asia Pacific
Middle East & Africa (MEA)
South Africa
Saudi Arabia
UAE
Rest of Middle East & Africa
South America
Brazil
Argentina
Rest of South America
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