The market for frozen bakery products encompasses of bread, cakes, pastries, and donuts made from corn, rice, wheat, barley, oats, and rye. Such are rich in nutrition and taste, have a moderately longer shelf life and are appropriate for usage, which drives requirement for such products in the market.
According to the report analysis, ‘Global Frozen Bakery Products Market to reach USD 4.9 billion by 2027’ states that growing the requirement for frozen bakery products is boosting market requirement for such products. The worldwide capacity of refrigerated warehouses augmented to 616 million cubic meters (m3) during 2018, from 552 million cubic meters (m3) throughout 2014, according to the International Association of Refrigerated Warehouses (IARW), a core companion of the Global Cold Chain Alliance (GCCA). The effective augment in the numbers of retail outlets selling the product in emerging regions coupled with nice-looking advertising and marketing will also specify requirement for luxury food items like that. The predilection for conventional and freshly baked products and unpredictability in raw materials prices are limiting factors. In the developing markets, the market probable for frozen bakery products is enormous, where consumer requirement for healthy baked goods products is growing due to an increasing health awareness can be the opportunity aspects.
Although, the regional analysis of worldwide frozen bakery products market is measured for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. The Europe is a mature and homogenous market in exceedingly penetrated frozen bakery products. The European market is witnessing growth owing to a good economic situation and an augment in launches of products that meet customer requirement. The market for frozen bakery products across North America is projected to witness robust growth due to augmented awareness of the health benefits linked with consuming several types of frozen foods. Whereas, the worldwide frozen bakery products market is worth approximately at USD 3.7 billion during 2019 and is projected to increase with a healthy growth rate of more than 4.2% over the forecast period of 2020-2027.
The producers focus on producing product variabilities in frozen bakery category. Additionally, fresh companies are volunteering into this sector with an aim to provide to the increasing requirement from customers as well as food service providers. Hence, obtainability of a wide range of products is probable to augment the popularity amongst consumers.
Not only has this, a significant upgrade and advancement in organized retail sector, predominantly in developing regions, are resulting in greater product visibility and approachability. This scenario is projected to further underwrite to the growth of the frozen bakery product market. The effective augment in the consumer preference for clean label and organic products owing to growing health and wellness concerns are offering prospective opportunities for the manufacturers to enlarge their product portfolio, support the growing requirement, and create revenue. Therefore, in the near years, it is predicted that the market of frozen bakery products will increase around the globe more significantly over the upcoming years.
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Frozen Bakery Products Market by Type (Frigid Bread, Freezing Pastries, Frigid Cake, Cold Pizza Crust, and Others), By Product (Buns, Donuts, Rolls, and Others), and by Distribution Channel (Caterers & Bakers, Bakers Shops, Industrial Catering, and Retailers) - Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024
Ankur Gupta, Head Marketing & Communications