Global Frozen Bakery Market is expected to garner a revenue of USD 26 billion by 2024 with a CAGR of approximately 7.5% during the forecast period, 2019–2024. Diverse demand of Frozen Bakery across various countries of developed regions are likely to drive the global frozen bakery market. Bread based frozen bakery is estimated to witness the higher growth rate. High focus on R and D has led to innovations in the frozen bakery products by increasing the shelf-life of the product which is likely to attract the consumers resulting in higher sale of frozen bakery goods.
By 2024, bread based frozen bakery will grow with a CAGR of 7.61% during the forecast period 2017-2024. Increase in consumption of bread-based bakery products has a positive impact on the growth of frozen bakery in the developed countries of various region. Frozen Bakery is found to have retained organoleptic properties such as color, flavor and has an enhanced shelf-life. These two major factors are supporting its sale amongst the consumers of various regions.
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- General Mills, Inc. (U.S.)
- Arista AG (U.S.)
- Flowers Foods, Inc. (U.S.)
- Rich Products (U.S.)
- Lantmannen Unibake, USA, Inc (Denmark)
- Vandemoortele Bakery Products (France)
- Europastry Sa (Spain)
- Grupo Bimbo SAB de CV (Mexico)
Application of frozen bakery as frozen pizza base will continue to dominate the frozen bakery market followed by frozen desserts. Pizza base based application will hold more than 15% market share and it is projected to grow with a CAGR of 7.09% by 2024. Application in frozen desserts will witness a growth rate (~7.70%) during forecast period 2017 to 2024. The application of frozen bakery in sandwich slices will witness significant growth in upcoming years due to high nutritional value of the product.
Europe will continue to dominate the Frozen Bakery Market and it is projected to reach more than USD 8,000 Million with CAGR of 7.27% by 2024. North America will witness a high growth rate during forecast period 2017 to 2024 backed up by economy developments. Asia-Pacific region will witness moderate growth rate in frozen bakery market for the same period. Growing popularity of convenience foods in Europe and North America is driving the market of frozen bakery in the region.
The Global Frozen Bakery Market is projected to reach USD 21,842.82 Million by 2024. Temperature-proof based packaging of frozen desserts will continue to dominate the frozen bakery market with more than 30% market share, and it is projected to grow at a CAGR of 7.11% by 2024. Pizza base will dominate the frozen bakery applications holding a lion’s share in the frozen bakery market and growing at a rate of 7.09%. Bread based frozen bakery will continue to dominate the frozen bakery type segment with more than 20% market share
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