Dallas, March 15, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, The global frozen bakery products market is expected to grow from USD 30.45 billion in 2020 to USD 53.36 billion by 2028, at a CAGR of 7.26% during the forecast period 2021-2028.The increase in the demand for convenience food products is one of the factors fuelling the frozen bakery products market.
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The frozen baked product, in general, includes doughnuts, bread, pastries etc. which are made from wheat, barley, corn, rye, rice and oats. Bread was the most common staple food in the earlier days. This provides many nutrients to human beings. They also have comparatively longer shelf life and are easy to use. There is a rise in the demand for frozen food all across the world. The frozen food is packed with nutrients which increases its shelf life, which is paving the way for frozen bakery products. People are living a hectic life these days, which has made them to give priority to convenience foods and on the go snacks.
The on the go snacks consist of fresh and also frozen baked products. Frozen bakery products are very much in demand by store bakeries, cafes, coffee chain and restaurants. The increase in population and surging disposable income are also the factor driving the frozen bakery product market. There is a surge in demand for convenience food product, all the premium restaurants, hotels and cafes have great demand for frozen bakery products because this at affordable prices provide, high-quality products with good service. It is also having more shelf life and can be consumed fast.The working class lifestyle has become much more hectic and also with much disposable income they look for convenience food which can be easily consumed, and fast to prepare.
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The people in developed and some of the developing countries are now much more aware of their health; they only prefer healthy product for consumption. So they would prefer fresh baked products compared to frozen bakery products. This act as a restraint for the product. However, people prefer usually goes to cafes and restaurants, where frozen bakery products are opted by them, and they serve freshly baked bakeries to the customers, and people don’t even realize it.
Key players for the global frozen bakery products market include General Mills (Pillsburry), Aryzta AG, Grupo Bimbo S.A.B. de C.V., Europastry, S.A., LantmannenUnibake International, Associated British Foods plc, Flower Foods Inc., TreeHouse Foods, Inc., Dawn Foods Products Inc. and Vandemoortele NV among others.
• For instance, in June 2018, Grupo Bimbo S.A.B. de C.V. acquired Mankattan Group, which was a major player in the baking industry. This acquisition has enhanced the product portfolio, manufacturing capacities and distribution network of the organization.
• In July 2017, Europastry, S.A. came to an agreement to acquire a 60% stake of Galician group Ingapan. This acquisition will strengthen the national and international distribution network of the organization.
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Bread segment is accounted for the highest market value of USD 10.7 Billion in 2020
The product segment is divided into breads, pizza crust, cakes & pastries, doughnuts, waffles and cookies. Bread segment is accounted for the highest market value of USD 10.7 Billion in 2020. Bread is widely used in almost all across the world. There is still a great demand for bread in Italy, France and Germany.
The Barley accounts for the highest market value of USD 9.71 Billion in 2020
The source segment includes corn, wheat, barley, and rye. The Barley accounts for the highest market value of USD 9.71 Billion in 2020. This is because barley and rye are majorly used in the making of different types of frozen bakery products.
The foodservice industry segment is accounted for the highest market value of USD 14.67 Billion in 2020
The end-user includes retail, foodservice industry, and food processing industry. The foodservice industry segment is accounted for the highest market value of USD 14.67 Billion in 2020. This is because frozen bakery products are in great demand by premium restaurants, cafes and big hotels, as it provides good quality product, better service at affordable price.
The catering accounts for the highest market value of USD 11.08 Billion in 2020
The distribution channel segment includes artisan baker, retail, catering, and online channel. The catering accounts for the highest market value of USD 11.08 Billion in 2020. This is because catering service is mostly responsible for the supply of bakery products in the retail sector, hotels, cafes, premium restaurants etc.
Regional Segment Analysis of the Frozen Bakery Products Market
• North America (U.S. , Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
• Asia-Pacific (China, Japan India, Rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)
The regions analyzed for the Frozen Bakery Products market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. Europe region is having the highest market value of USD 11.4 Billion in 2020. This is due to the fact that in Europe there is a great demand for the frozen bakery product, having extra ingredients, which benefits the health. North America had the second-largest market value of USD 9.77 Billion in 2020. People in this region focuses on the benefits in health provided by the added ingredient in the frozen bakery products. Asia Pacific is showing the highest CAGR in the forecasting period, due to the growing demand for frozen bakery products in the developing country like India.
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About the report:
The global frozen bakery products market is analysed on the basis of value (USD Billion).All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, and competitor position grid analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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