The Frozen Bakery Products market is a dynamic and rapidly growing sector within the global food industry. These products, ranging from frozen bread and pastries to pizzas and cakes, offer convenience and longer shelf life to consumers while maintaining the taste and quality of freshly baked goods. Factors such as changing consumer lifestyles, increased demand for ready-to-bake and ready-to-thaw products, and technological advancements in freezing techniques have contributed to the expansion of this market, making it a significant player in the modern food landscape.
Key Highlights:
· In June 2015, for instance, Tropilite Foods Pvt Ltd. had launched a new Svensons brand, a premium food brand with complete innovative food solutions in India. Delivering high degree of creativity in innovations of food products like frozen bakery range which serves mousse shots, savoury muffins, bruchita, volcano muffins, pizza tarts, marble brownie etc.
· In October 2015, Nina Bakery had launched fully baked and frozen pita sticks in Europe.
Analyst View:
The frozen bakery product market appears poised for sustained growth in the coming years. Factors such as busy lifestyles, rising consumer preference for convenient yet high-quality baked goods, and the global expansion of quick-service restaurants are expected to continue driving the demand for frozen bakery products. Additionally, advancements in manufacturing and distribution processes, as well as a focus on innovative product offerings, will likely contribute to the market's resilience and potential for profitability, making it an appealing segment for investors and industry stakeholders.
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Key Market Insights from the report:
The global market accounted for US$ 16.1 billion in 2018 and is projected to register a moderate CAGR of 7.8% over the forecast period. The market report has been segmented on the basis of type, distribution channel, and region.
· By type, cakes & pastries segment register significant growth rate over the forecast period. Higher disposable income and growing demand for cake and pastries on special occasions which includes birthdays, anniversaries and weddings are some factors expected to support growth of cake & pastries segment, thereby driving growth of the target market over the forecast period.
· By distribution channel, the retail segment holds for major revenue share in 2018, and is expected to maintain its dominance over the forecast period. Ease of product availability, coupled with growing number of retails stores globally are factors expected to support growth of the segment.
· By region, Europe frozen bakery products market accounted for major revenue share of the global market and is further anticipated to maintain its dominance over the forecast period. This is attributed to the presence of major manufacturers, coupled with growing demand for convenience food in the region.
The prominent player operating in the global frozen bakery products market includes Grupo Bimbo S.A.B. De C.V., General Mills Inc., Aryzta AG, Europastry, S.A., Conagra Brands, Inc., Associated British Foods PLC, Kellogg Company, Lantmannen Unibake A/S, Vandemoortele NV, and Premier Foods PLC.
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