Arista AG (US), Grupo Bimbo SAB de CV (Mexico), Flowers Foods, Inc. (US), Rich Products (US), Lantmannen Unibake, USA, Inc. (Denmark), Vandemoortele Bakery Products (France), Europastry Sa (Spain), General Mills, Inc. (US) are some of the leading players profiled in MRFR Analysis and are at the forefront of competition in the Global Frozen Bakery Market.
Market Overview:
Frozen Bakery products have been perceiving an augmented demand mainly due to the growing urbanization, changing consumption patterns, and traction towards convenience foods. Availability of variety of Frozen Bakery products has increased the popularity and consumption of these products among consumers in developed regions. High focus on R&D has led to innovations in bakery products by increasing the shelf-life of the product and enhancing the nutritional value. All these factors have a positively impacted the market growth of Frozen Bakery escalating it to the ascended heights on the global platform.
Acknowledging the kind of traction the market is gaining currently; demonstrating the growth prospects globally, Market Research Future has recently published a study report. According to the report, Frozen Bakery industry is projected to reach USD 21,842.82 million by 2023, at a CAGR of 6.60% during the forecasted period.
Key drivers contributing the market growth include increasing demand for the ready to eat foods owing to the consumer preferences and increasing demand for bakery products with high shelf-life etc. Rising applications of bread and bread based products in fast food chains has a positive influence on its market growth. Rolls and buns are anticipated to grow at a high rate based on increasing demand for on-the-go food products. Temperature-proof packaging of frozen bakery product protects it from the outer environments temperature keeping it fresh for a longer period of time. In addition, temperature-proof packaging also helps in inhibiting the bacterial growth owing to this perceives a high demand in frozen bakery market.
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Conversely factors such as production energy and other manufacturing costs, labour cost, price volatility of the raw materials such as wheat, wheat flour & other raw material cost, time consuming production process and technology changes are expected to hamper the market growth. However, there have been important production technology advancements in the commercial bakery industry. These advancements focus on the development of ESL technology. In a sense, these technological innovations are expected to propel the market growth during the forecast period.
Competitive Analysis:
The global Market of Frozen Bakery appears to be highly competitive yet consolidated. Many large and small key players operating in the market are churning the competition to gain competitive advantage. To sustain their market position these players incorporate acquisition, collaboration, partnership, expansion, and technology launch. Manufacturers operating in the Frozen Bakery market strive to develop a state of art manufacturing facilities where they can make all their products from carefully sourced raw materials right in their own facility.
Industry/ Innovation/ Related News:
January 09, 2018 – Panetteria Foods Pvt. Ltd. (India) launched country’s first frozen bakery product line including Flaky, flavourful golden puffs with scrumptious stuffing, the new ready to cook variants include Curry Crunch, Oriental Surprise, Peri -Peri Munch and Thyme Roll.
January 10, 2018 – Cole’s Quality Foods, Inc. (US), launched Middles, frozen cheese-stuffed bread bites. At the launch the company mentioned that it knew that a standard marketing campaign wouldn’t cut it. Current sales trends within the frozen bread category were flat for the past few years. The brand needed to dig deep to generate excitement, so it headed to the small town of Lebanon, Kas., the geographical middle of the United States, to launch the product and sponsor Lebanon Bash.
Market Segments:
Global Frozen Bakery Market is segmented in to 4 Key dynamics for an easy grasp and enhanced understanding.
By Type : Comprises – Bread, Rolls & Buns, Cakes & Cupcakes, Muffins & Cupcakes, Cookies & Doughnuts, Pies & Tarts, Sandwiches & Wraps, & others
By Packaging: Moisture-vapour-proof, Odour-Proof, Temperature-Proof, and others
By Application: Pizza Base, Cake Batter, Burger Buns, Sandwich Slices, Breakfast Foods, Appetizers, Snack Foods, Confectionery, Desserts, and others
By Regions: North America, Europe, APAC and Rest of the World.
Bread based frozen bakery will continue to dominate the frozen bakery type segment with more than 20% market share and will reach a market value of more than USD 6,000 Million witnessing the highest growth rate of 7.61% By 2023.
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 2023
Frozen desserts based application will witness a highest growth rate (~7.70%) during forecast period.
Pizza base will dominate the frozen bakery applications holding 17% of market share in the market and growing at a rate of 7.09% by 2023.
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Regional Analysis:
Europe is estimated to dominate the global frozen bakery market holding a lion’s share of more than more than 35% market share and is projected to reach more than USD 8,000 Million with CAGR of 7.27% by 2023.
North America will witness the highest growth rate of ~7.62% in the global frozen bakery market whereas Asia-Pacific and Rest of the world will witness moderate growth rate.
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