Frozen Bakery Products Market Size Worth US$ 33.3Bn, Globally, by 2028 at 4.0% CAGR - Exclusive Report by The Insight Partners

·11 min read
The Insight Partners
The Insight Partners

The Frozen Bakery Products Market size was valued at US$ 25.31BN in 2021 and is expected to grow at a CAGR of 4.0% from 2021 to 2028 to reach US$ 33.3BN by 2028

New York, May 10, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published the latest research study on Frozen Bakery Products Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type (Bread and Rolls, Cakes and Pastries, Cookies and Biscuits, and Others), Category (Gluten-free and Conventional), and End User (Foodservice and Food Retail). The report highlights key factors driving the market growth and prominent players along with their developments in the market.

Frozen bakery products witness high demand as people prefer ready-to-bake products because they are easy to prepare and can be prepared quickly. In addition, a significant increase in demand for processed food products due to a shift in consumer preference for baked products drives the growth of the frozen bakery products market. The acceptance of frozen bakery products is increasing due to factors such as convenience, preparation speed, easy product availability, and low costs. The growth of the market is also attributed to the surging demand from coffee shops and small and large-scale food chains.


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Report Coverage

Details

Market Size Value in

US$ 25.31 Billion in 2021

Market Size Value by

US$ 33.3 Billion by 2028

Growth rate

CAGR of 4.0% from 2021-2028

Forecast Period

2021-2028

Base Year

2021

No. of Pages

166

No. Tables

83

No. of Charts & Figures

80

Historical data available

Yes

Segments covered

Product Type , Category , and End Use and Geography

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends


Frozen Bakery Products Market: Competition Landscape and Key Developments

Dawn Food Products, Inc.; Europastry, S.A; Lantmannen Unibake.; Grupo Bimbo; S.A.B. Dec.V; Aryzta Ag; General Mills, Inc.; Cole's Quality Foods Inc.; Conagra Brands, Inc.; and Bridgford Foods Corporation are among the well-established players operating in the frozen bakery products market.

The demand for frozen bakery products is surging owing to rising consumer preference toward processed or convenience foods. In addition, the easy availability of frozen bakery products has influenced the buying pattern for the shoppers who are concerned with the dietary merchandise and rendered a firm place to the frozen bakery products in the list of daily consumables. Moreover, due to the growing food & beverages industry and improving economic conditions, consumers in developed and developing regions worldwide are moving toward convenience foods. The rural-urban migration has also increased in developing countries, which has led to an increase in street vending, ready-to-eat, and convenience foods.


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As a result, there has been a notable rise in the consumption of ready-to-eat foods, which has resulted in a significant increase in the market for convenience foods. Further, frozen bakery products have also found a shelf in retail stores and supermarkets due to the diversification of distribution channels. In addition, other factors driving the demand for convenience foods include changes in working demographics and a busy lifestyle. Therefore, the demand for frozen bakery products is expected to increase in response to the growing demand for convenience foods. The demand for convenience food is being fueled by the launch of longer-shelf-life frozen bakery products and an increase in the working population across the globe, along with a rise in the female workforce. Consumers buy and store frozen bakery items in their busy schedules and consume them as required.

The demand for frozen bakery products is surging, owing to rising consumer preference toward processed or convenience foods. In addition, the easy availability of frozen bakery products has influenced the buying pattern for the shoppers who are concerned with the dietary merchandise and rendered a firm place to the frozen bakery products in the list of daily consumables. Moreover, due to the growing food & beverages industry and improving economic conditions, consumers in developed and developing regions worldwide are moving toward convenience foods.


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The rural-urban migration has also increased in developing countries which has led to an increase in street vending, ready-to-eat, and convenience foods. As a result, there has been a notable rise in the consumption of ready-to-eat foods, which has resulted in a significant increase in the market for convenience foods. Further, frozen bakery products have also found a shelf in retail stores and supermarkets due to the diversification of distribution channels. In addition, other factors driving the demand for convenience foods include changes in working demographics and a busy lifestyle. Therefore, the demand for frozen bakery products is expected to increase in response to the growing demand for convenience foods.

Impact of COVID-19 Pandemic on Frozen Bakery Products Market

The COVID-19 outbreak has impacted different industries in a different manner. Amid the pandemic, the lockdown imposition is restricting the supply chain of frozen bakery products. The unavailability of raw materials and labor, due to the restrictions on the movement of people, is hindering the production of frozen bakery products. The frozen food industry has seen a steady growth amid pandemics as people are consuming foods that have a longer shelf life. According to the President of the American Frozen Food Institute (AFFI), the US-based frozen foods players have seen the sales of the frozen food products in the US were increased by 18.2% in 2020, which is approx. US$ 66 billion in sales. According to the AFFI report of November 2020, the decrease in the visits to the grocery store and being prepared to avoid food shortages motivated the consumers to buy frozen food products during the pandemic. The frozen food products supply chain has been mostly shifted from food service to the retail sector as the demand for frozen foods, such as frozen bakery products, has seen a shift from food service to household consumption. According to AFFI, during the COVID-19 outbreak, the consumers shopped online at a record rate where the sales for frozen food, including frozen bakery, witnessed a 75% increase. Thus, the increase in online sales for frozen food has resulted in a positive impact on the frozen bakery products market.


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In 2020, the frozen bakery products market was predominant in Europe at the global level. The primary factors driving the growth of the frozen bakery products market are the convenience these products offer, especially in minimizing the time required for cooking and baking. Moreover, the growing demand for ready-to-eat food products owing to hectic work schedules is also expected to contribute to the market growth in the region over the forecast period.

According to a report published by Food Drink Europe, the food & beverages industry in Europe accounted for a turnover of US$ 1,463.5 billion in 2020 making it one of the largest manufacturing industries in Europe. The growth of this industry is driven by the rising demand for comfort foods, frozen foods, and ready-to-eat meals. Moreover, the foodservice sector is expected to register a notable growth over the coming years leading to the rising trend of cloud kitchen services, quick-service restaurants, online food delivery services, and other such factors in Europe.

Among the segments of product type, the bread and rolls segment has led the market in 2020. Bread is a staple food prepared from a dough of water and flour. Bread has been a prominent food in many countries for a very long period. There has been an increase in the usage of bread as a frozen bakery, owing to the inclusion of a wide variety of additives such as fruits, nuts, various fats, and chemical additives that help in improving the texture and flavor and increasing the shelf life of the frozen bread.


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The urbanization of society has resulted in the increase in the prevalence of convenience foods in the western diet, resulting in market development. The availability of a wide range of frozen bakery products such as waffles, cookies and donuts, bread, cakes, and pastries provide customers with several options to choose from. Furthermore, an increase in economic standards, a rise in disposable incomes, and a diversification of food preferences are driving the demand for convenience foods.

This, in turn, is boosting the growth of the frozen bakery products market. To meet the rising demand, companies are developing higher-quality frozen bakery products and more effective distribution networks to serve a larger consumer base. For instance, on March 31, 2021, Dawn Foods announced the acquisition of JABEX—which is a family-owned manufacturer based in Bielsko-Biala, Poland—that specializes in high-quality fruit-based products for the bakery industry. Therefore, the rising demand for convenience food items is expected to stimulate the growth of the global frozen bakery products market.


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