A research study titled, “Frozen Bakery Products Market by Product, Application, Source Type, and Modality – Global Industry Analysis and Forecast To 2023” published by Crystal Market Research, states that the frozen bakery products Market is projected to be around $ 24.59 billion by 2023.
The global frozen bakery products market evaluated approximately USD 11.07 billion in 2013 and is anticipated to reach around USD 24.59 billion by the end of 2023 with registering itself at a compound annual growth rate (CAGR) of 8.31% over the forecast period.
Frozen Bakery Products Market – Report Overview:
Frozen Bakery products are bakery yields which are refrigerated and frozen at very low temperature to conserves it for a longer period of time. Low-temperature storage conserves not just the bakery products but also the organoleptic characteristics of the baked products including flavor, color, and texture. Frozen bread rolls, frozen bread, frozen pastries, frozen cakes, frozen patisserie and frozen pizza crust are a few of the key instances of frozen bakery products.
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The bakery products demand is found to be growing depending on the high requirements from customers as they are referred as convenience foodstuffs with longer shelf-life and maintained organoleptic characteristics. Out of all frozen bakery products, frozen pizza crust leads the highest market share followed by frozen pastries and frozen bread. In western nations, a lot of people choose to take frozen pizza as an ingredient of their everyday meal. Frozen bakery market maintains approximately 8% of the global frozen food market.
Frozen Bakery Products Market – Key Growth Factors:
The global frozen bakery products market in terms of product is disintegrated into pastries, pizza crusts, rolls, donuts, cakes, breads and others. With regards to revenue a substantial market share was registered by pizza crust of over 30 percent. In several western countries like Germany, France, Spain and Mexico frozen pizza is a part of daily meal. Moreover, this segment was leading the market owing to the pattern of consumption in emerging countries like United States and Italy. Companies providing frozen food are launching new pizzas that contain ingredients that are healthy.
Frozen Bakery Products Market – Regional outlook:
A significant amount of contribution to the global frozen bakery products market is expected from Europe during the forecast period. Emerging tourism and catering industry in the United Kingdom, France and Germany is said to reflect significant growth in the region in the upcoming years.
The growth of the regional market of frozen bakery products is attributed to the increasing requirement for ‘thaw and serve’ products that render convenience to retail bakeries, households, quick service restaurants and grocery stores.
Moreover, increase in the shelf life of these products render an option of stocking the products and utilizing as and when needed. Latin America was accounted for revenue of USD 1.4 billion in 2016 in the frozen bakery market. The region is anticipated to have a booming market due to the rising requirement of processed food and diversity in the lifestyle of the consumers. Additionally, the enhance food culture couples with rising living standards and disposable income is said to spur the growth of the market.
Frozen Bakery Products Market – Key Market Players:
The leading manufacturers in the global frozen bakery products market are Kellogg Company, General Mills, Bridgford Foods Corporation, Alpha Baking Company Inc, Pepperidge Farm, Maple Leaf Foods, Conagra Brands, Vandemoortele, Lantmännen Unibake, Cargill, Général Waffle Manufactory SPRL, Cole’s Quality Foods and EUROPASTRY S.A.
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Some of the key questions answered by the report are:
What was the Frozen Bakery products market size in 2016 and forecast from 2017 to 2025?
What will be the industry market growth from 2017 to 2025?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the Frozen Bakery products market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?