Frozen Bakery Market – Overview
High shelf-life, preserved nutrients and high nutritive values are identified to drive the market for frozen bakery positively during the forecast period. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on Global Frozen bakery Market Research Report- Forecast to 2023 that the market will demonstrate an exceptional CAGR % while achieving million dollar growth readily in the forecast period.
Frozen bakery products are available in the customized form with added nutrients based on the consumers demand. This major factor has found to have increased the sale of the product during the recent years. In addition to that, comparatively high shelf-life and convince consumption property is anticipated to boost the market for frozen bakery across the regions. Growth of the “ready-to-eat” market has also provided an impetus for the increased demand of this sector. Consumers are found to have more demand for pre-baked frozen bakery products as they tend to be time saving while on a hectic schedule. This has encouraged the manufacturers towards experimenting with the products and bringing in innovations.
Technological advancements in the freezing technology has given great results which has helped in increasing the production capacity of the product on a global level. Owning to this, Frozen Bakery Market has witnessed continued demand during the last few years and is projected to reach USD 21,842.82 Million by 2023, at a CAGR of 6.60% by 2023. Rising applications of bread and bread based products in fast food chains has a positive influence on frozen bakery market growth. Urbanization and changing food consumption trends have led to consumers demanding frozen bakery. On the other hand, food contamination leading to adulteration is identified to confine the growth of this market.
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Latest Industry Updates
- Feb 2017 Grupo Bimbo, S.A.B. de C.V. acquired Panattiere which is a Colombia-based frozen bakery firm. This portrays company’s inclination towards expansion of their frozen bakery market and extend their geographic footprint.
- Feb 2017 Lantmännen Unibake completed its acquisition of Anderson Bakery in Stockholm. Anderson Bakery engages in the supply of bake-off “Bonjour” baguettes in Sweden. Since, the product range offered by the company included frozen bread and dough, the company would be focusing more on expanding their frozen product range.
- Nov 2017 The Artisan Baker announced its manufacture and delivery of customized frozen bakery products which will be produced with high quality ingredients and without the addition of artificial flavorings and preservatives. This strategy will help the company is acquiring a wide consumer base and regenerating revenues.
- Nov 2017 General Mills, Inc. announced the launch of its clean label baking products which includes frozen bakery products such as frozen cinnamon rolls, muffins and scones. Company states that they have taken this step in order to meet consumer demand for baked items made with simpler and pure ingredients.
Frozen Bakery Market – Competitive Analysis
With the entry of industry players in the frozen bakery segment, a trend of solid, volume-driven growth has been observed in the market with the development of different varieties of product types. The companies are found to be aiming to capture a considerable share of the market segment as early as possible. In order to fulfil this, they are focusing highly on new product launches and acquisitions of small players to generate high revenues. The manufacturer’s key strategy include high investments in product development to create product differentiation and gain consumers attention.
The key players profiled in frozen bakery are Arista AG (U.S.), Grupo Bimbo SAB de CV (Mexico), Flowers Foods, Inc. (U.S.), Rich Products (U.S.), Lantmannen Unibake, USA, Inc (Denmark), Vandemoortele Bakery Products (France), Europastry Sa (Spain), General Mills, Inc. (U.S.)
Frozen Bakery Market – Segments
The global frozen bakery market has been divided into type, packaging, application and region.
- On The Basis Of Type: Bread, Rolls & Buns, Cakes & Cupcakes, Muffins & Cupcakes, Cookies & Doughnuts, Pies & Tarts, Sandwiches & Wraps, Others
- On The Basis Of Packaging: Moisture-vapor-proof, Odor-Proof, Temperature-Proof, Others
- On The Basis Of Application: Pizza Base, Cake Batter, Burger Buns, Sandwich Slices, Breakfast Foods, Appetizers, Snack Foods, Confectionery, Desserts, Others
- On The Basis Of Region: North America, Europe, Asia Pacific and ROW.
Frozen bakery Market – Regional Analysis
The global frozen bakery market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Global dietary market is highly dominated by Europe due to their high consumption of bread and bread based products including rolls and buns, wraps and others. North America is the second fastest growing region due to changing consumption pattern and high demand for bread based convenience foods. The consumption of frozen bakery in developing counties like India, Brazil and China is expected to grow in upcoming years.
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