Frozen Bakery Products Market 2022: Prosperous Growth, Recent Trends and Demand by Top Key Vendors
According to Future market Insights, the global Frozen Bakery market size is estimated to be
valued at USD 23billion in 2021 and is projected to reach USD 49
billion by 2032, recording a CAGR of 7.4% during the
forecast period. Key factors that have contributed to the growth of frozen
bakery products are a spiralling preference toward convenient food and the
popularity of specialty frozen bakery goods. Intra-industry competitiveness is
high and affects the market positively.
Processed food has become one of the preferred choices of
convenient foods complementing today’s hectic lifestyle. As a result, there is
an inevitable rise in the demand for baked food. This has in turn led to the
growing acceptance of frozen bakery since it is easily available and can be
prepared for meal in much lesser time. In addition to this, the low cost of
frozen bakery makes it ideal for consumption among millennial.
It includes in-depth insights into the frozen bakery
market. Some of these are:
- The
estimated value of the market was at US$ 19.1 Bn in 2020. Through the
course of the report’s forecast period, the market is exhibited to show a
steady pace of growth.
- Regionally,
Europe emerged as a key market for frozen bakery.
- North
America and Asia will remain key markets for frozen bakery besides Europe
- While
retail continues to remain the most preferred channel of distribution,
market players are soon expected to diversify, which would drive their
focus to catering and industrial channels for distribution.
- Key
players are likely to focus on product innovations to stay relevant in
developed markets.
“In Europe, Germany has emerged as one of the most
lucrative markets for frozen bakery. Surge in tourism and catering business has
been giving impetus to growth witnessed in Europe. These trends are unlikely to
change in the coming years, which will turn favour growth of the overall frozen
bakery market in Europe,” revealed a lead analyst at FMI
Changing Lifestyle and Adoption of Healthier Routine Will
Remain Key Growth Drivers
Growth witnessed in the global frozen bakery market to a
large extent is attributable to changing lifestyle of consumers. As life gets
hectic and busier, consumers are finding it more and more difficult to invest
time in cooking or home prepped meals. This creates an ideal environment for
the sales of frozen bakery. Aided by the surging number of retail outlets, the
frozen bakery market will continue exhibiting an impressive growth trajectory
through the course of the report’s forecast period.
FROZEN BAKERY PRODUCTS MARKET TAXONOMY
The global Frozen Bakery Products market is segmented in
detail to cover every aspect of the market and present complete market
intelligence to readers
Type
- Bread
- Cakes
& Pastries
- Pizza
- Others
Distribution channel
- Supermarkets
- Hypermarkets
- Convenience
Store
- Online
Region
- North
America
- Latin
America
- Europe
- East
Asia
- South
Asia
- Oceania
- MEA
Who is Winning?
Some of the leading players operating in the frozen bakery
market are Dawn Food products Inc, General Mills, Lantmannen, Cole’s Quality
Food Inc, Europastry, Bridgford Foods Corporation, Conagra Brands, Cargill,
Grupo Bimbo , Aryzta AG.
As a result of increasing competition, manufacturers are
focusing on expanding their product portfolio and improving sourcing process.
Their expansion strategies are further aided by agreements between them and
local players across emerging market. These companies are particularly focusing
on catering to changing consumer preference across various applications.
In addition to this, mergers and acquisition remains a
popular strategy among market players. Companies intend to expand their
regional footprint through strategic collaborations.
Significant Contributions of the Report
- Key
Trends and Challenges: Detailed analysis on the ‘ins and outs’ of the
market with qualitative research and quantitative insights
- Recent
Drivers and Opportunities: Detailed assessment on the key growth drivers,
technological developments, and factors affecting the market over the
forecast period.
- Segmental
Analysis: Extensive research on each segment and sub-segment, compiled by
expert research analysts of FMI
- Regional
Market Forecast: Thorough analysis of each regional market to provide
market players with real-time data and reliable statistic to gain a
competitive edge in the industry
- Competitive
Landscape: Comprehensive analysis on prominent players and new entrants
eyeing to improve their revenue prospects in the industry
Information Source: https://www.futuremarketinsights.com/reports/frozen-bakery-market
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