New York, May 06, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "GCC Frozen Bakery Products Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06067773/?utm_source=GNW
As the United Arab Emirates registered the highest number of COVID-19 cases in the Gulf region, the country imposed a strict lockdown, which hampered the supply chain of various products. The disruption in the United Arab Emirates’ supply chain has impacted the GCC’s supply chain and has had a significant negative impact on frozen bakery markets of other GCC countries, as they rely heavily on imports to meet the domestic consumption of bakery products.
Key reasons for the growing demand for frozen bakery products in GCC market include growing preference for convenient foods and popularity of specialty frozen bakery products. The rising rate of ex-pat population in the region, followed by the increasing number of women getting employed, are the major reasons for the surging demand.
The increasingly busy lifestyles of consumers in the region have also contributed to the expanding retail sector, primarily e-commerce. Additionally, the expansion of all retail sectors, including supermarkets, hypermarkets, specialty stores, and others, offers an excellent opportunity to international and domestic players to extend their business in the GCC region.
Key Market Trends
Increased Demand for Convenience Food
An increase in demand for convenient food products and drive for greater taste, safety, and consistency are the major factors driving the frozen bakery products market in the region. Fast-paced and hectic lifestyles are compelling consumers to purchase convenient food and ready-to-eat products, including frozen bakery products, such as croissants, rolls, bread, and others.
Frozen bakery products are witnessing high demand compared to conventional products, mainly due to their extended shelf life. Easy thawing and baking facilitate the need for such products, thereby, augmenting the market growth in GCC. Furthermore, the manufacturers are focusing on introducing product varieties in the frozen bakery category, which is likely to increase the popularity of frozen bakery products among consumers
The Rise in Demand for In-Store Bakery Experience
The evolution of in-store bakeries, primarily due to the increasing number of supermarkets/hypermarkets, malls, clubs, and cafeterias, is the major factor capturing the interest of visitors and shoppers. The in-store bakery offers ease and convenience for shoppers and serves products that come under freshly baked and frozen food categories.
The adoption of frozen bakeries at in-store bakeries, wherein traditional bakery machineries cannot be operated, owing to various factors, such as high operational cost and space limitation, is increasing the demand for frozen bakery products, primarily frozen dough and bread. Also, the wide availability of frozen bakery products across the retail outlets, followed by the influence of Westernization, owing to the ex-pat population in the region increasing every year, is catering to demand frozen bakery products from different demographics.
Competitive Landscape
The GCC frozen bakery products market is highly competitive with the presence of both international as well as regional players. Some of the prominent players in the country include Atyab Bakery, Dofreeze LLC, Switz Group, Sunbulah Group, and Americana Group Inc. International players like Kellogg’s, General Mills, and B&G Foods have been continuously working on expanding their geographical reach and creating brand awareness, which in turn gives them a competitive advantage. Also, companies are efficiently increasing their production platform and extensive distribution network support for profitable growth and increased market penetration.
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Read the full report: https://www.reportlinker.com/p06067773/?utm_source=GNW
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The GCC frozen bakery products market was valued at USD 236.41 million in 2020, and it is projected to grow at a CAGR of 5.05% during the period of 2021-2026
The countries in the region import a significant volume of bakery products among themselves, such as bread, biscuits, pastry, cakes, and other bakery products, majorly from the United Arab Emirates, Saudi Arabia, and Bahrain.
| Source: ReportLinker