Key Frozen Bakery Market Players, Regional Insights, Growth Drivers, Opportunities and Trends 2030
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
2022 2030, as per a research report published by Market Research Future (MRFR).
Market Scope:
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 a
number of 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.
Segmentation:
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.
Regional Analysis:
The key markets of the global frozen bakery 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 8,000 Million
with CAGR of 7.27% by 2023. 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.
Competitive Landscape:
The global Key
Frozen Bakery Market Players 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.).
Industry Updates:
• In July 2018, an Oxford-based bakery, Modern Baker
received a funding award from an innovation agency Innovate UK for the
evaluation of the effect of different freezing processes on the bakery
products. The research will assess the impact of freezing on blood glucose
response, fiber levels, and nutrition.
• In July 2018, US Highland acquired Supreme Sweets, a
commercial bakery which specializes in the frozen bakery. The acquisition is
part of US Highland's long-term growth strategy, and it will now focus on
expanding its product line, especially gluten-free and low-calorie items.
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