Frozen
bakery products market is projected to reach USD 29.5 billion by 2026,
from USD 22.3 billion in 2021, at a CAGR of 5.8% during the forecast period.
The busy lifestyle of consumers has contributed to the growth of the bread
manufacturing industry to produce new products that could cater to the rise in
demand from consumers. The increase in consumption of frozen bakery products in
the emerging markets of Asia Pacific and Latin America has also led to a rise
in the sales of frozen bakery products. The demand for frozen bakery products
in developing regions is driven by the increase in disposable income.
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Cakes & pastries
are the major by type segment having the highest CAGR of the frozen bakery
products market during the forecast period.
A pastry differs from bread in terms of fat content,
contributing to the flaky texture. Pastry dishes include pies, tarts, sponge
cakes, croissants, and muffins. The frozen cake is a form of sweet-baked
dessert consisting of flavored ingredients, such as fruit extracts. Specialty
cakes are gaining popularity, with a high starch-gluten ratio and low-protein
wheat. They are further segmented into sponge cakes, muffins, and cookies.
Currently, the frozen bakery product market players utilize new technologies to
achieve the required/recommended levels of freezing for cakes. In countries
such as the US, Canada, and Mexico, frozen cakes have been at the forefront
among other frozen bakery products.
By distribution
channel, the conventional stores dominated the frozen bakery products market in
2020.
Conventional stores have the potential to be a prominent
distributional channel for frozen bakery products. Niche retailers among these
stores have also realized the opportunity to establish an effective retail
chain. Earlier, these companies marketed their line of products only through
exclusive stores situated in prime locations. However, these companies now understand
the dynamic changes in consumer preferences for healthier food products. Hence,
a majority of the companies are marketing their products across regions through
all possible channels to ensure sustainability in the global market. Thus,
distribution channels play a vital role in bridging the gap between key players
of frozen bakery products and the end consumers in the market.
Asia Pacific region
is projected to witness the highest growth in the frozen bakery products market
by 2026.
The Asia Pacific region is among the fastest-growing regions
for frozen bakery products. The food & beverage industry has contributed
significantly to the market growth in this region. Due to the growing
population, rising incomes, and increasing urbanization the market growth is
significant. These factors are projected to support the growth of niche
markets, such as frozen bakery products. The market is driven by the increase
in demand for convenience food products in developing countries such as India, China,
Japan, and Australia. In the Asia Pacific region, China accounted for the
largest share in the frozen bakery products market in 2020.
The key players in this market include Grupo Bimbo (Mexico),
General Mills Inc. (US), Aryzta Ag (Switzerland), Europastry, S.A. (Spain),
Conagra Brands, Inc. (US), Associated British Foods Plc (UK), Kellogg Company
(US), Lantmannen Unibake International (Denmark), Vandemoortele Nv (Belgium),
Premier Foods Group Ltd. (UK), Cargill, Incorporated (US), Flowers Foods (GA), Bridgford
Foods Corporation (US), Coles Quality Foods Inc. (MI), and Dawn Food Products
Inc (MI).
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