Frozen Bakery Market: Latest Trends, Top Manufacturers, Product Type, End User, Impact Due to COVID-19 and Forecast 2030
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| Frozen Bakery |
Frozen Bakery Market Overview:
The global frozen bakery market is projected to grow at a CAGR of 7.40% and reach USD 31.23 Billion by the end of the forecast period of 2030, as per a research report published by Market Research Future (MRFR).
The Frozen Bakery Market has been growing continuously on account of increased popularity and consumption of frozen bakery products among consumers across the world. Frozen bakery products have a long shelf life and act as ready-to-eat convenience food which makes it very popular among consumers. Surging preference for artisanal bakery products and development of new flavors and products have led to a growth in the market. Moreover, progress in packaging technology and global air-conditioned supply chains which help in the inhibition of bacterial growth further propel the growth of the market. Growing application of frozen bakery in fast food chains along with the rise in several high-end bakery shops augments the demand for frozen bakery market. Other factors which drive the market growth are low prices of frozen bakery products and easy & environment-friendly manufacturing process. Increasing research and development in the field also boosts the market growth. Development of innovative products and improvement in the quality of frozen products which include enzymes, hydrocolloids, antioxidants, and sourdough fermentation has gained popularity among the consumers and impacts the market positively. Preference for conventional and freshly baked product due to rising health awareness is a probable hindrance to the market growth. Increasing concerns over food contamination and adulteration are other limiting factors.
What forces are responsible for the North American frozen bakery industry growth?
The key driving forces behind North America's frozen bakery business are an increase in the demand for convenient foods, frozen bread, and other bakery goods with a longer shelf life. They also include an increase in the consumption of ready-to-eat food items.
Regional Insights:
The key markets of the Global Bakery Equipment Market include North America, Europe, Asia Pacific, and the Rest of the World (RoW). Europe dominates the frozen bakery market and is expected to reach USD 31.23 Billion with CAGR of 7.40% by 2030. However, the North American market is expected to grow considerably due to the increasing popularity of bakery products and presence of infrastructure and supply chains. High purchasing power and high disposable income are other factors which are expected to drive the market. The Latin American regions of Argentina, Mexico, Chile, and others are also likely to generate high growth. Japan, China, and India lead Asia Pacific market. Growing tourism industry drives the market, however, lower consumption of wheat in the region is expected to hinder the market growth. The Middle East & Africa market is expected to demonstrate high growth due to high consumption and wealth of wheat.
Who are the leading companies in the worldwide frozen bakery Industry?
The notable players of the frozen bakery Industry include Arista AG (U.S.), Flowers Foods, Inc. (U.S.), Lantmannen Unibake, USA, Inc (Denmark), Europastry Sa (Spain), Grupo Bimbo SAB de CV (Mexico), Rich Products (U.S.), Vandemoortele Bakery Products (France), and General Mills, Inc. (U.S.).
Frozen Bakery Market Segmentations:
The global frozen bakery market has been segmented based on type, packaging, and application.
By type, the market has been segmented into Bread, Rolls & Buns, Cakes & Cupcakes, Muffins & Cupcakes, Cookies & Doughnuts, Pies & Tarts, Sandwiches & Wraps, and others.
By packaging, the market has been segmented into Moisture-vapor-proof, Odor-Proof, Temperature-Proof, and others.
By application, the market has been segmented into Pizza Base, Cake Batter, Burger Buns, Sandwich Slices, Breakfast Foods, Appetizers, Snack Foods, Confectionery, Desserts, and others. The pizza-based application segment dominates the frozen bakery market and holds 17% of the market share and is expected to grow at a CAGR 7.09% over the forecast period. High demand for fast food can be attributed to this growth. Frozen desert-based application segment is likely to witness high growth over the forecast period.
About Market Research Future:
Market Research Future (MRFR) is a world-renowned market research company that offers a wide range of services, complete with accurate and precise analysis about diverse markets, sub-markets, and target consumers. Our approach is a combination of extensive information and multiple data sources that help provide an exhaustive comprehension about the latest major developments to the client, in addition to future events and what measures and decisions to take based on the same.
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