Frozen Bakery Products Market Size, Industry Analysis Report, Regional Outlook (U.S., Germany, UK, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024
Report ID: GMI1393
Global Frozen Bakery Products Market size is projected to grow at a high CAGR by 2024. The market growth drivers are globally growing preference for convenient means of food consumption, ease of preparation, product differentiation. The desirability for nutritious food having enhanced shelf-life without compromising on taste & quality has made industrialists shift from fresh to frozen bakery products.
Frozen dough can undergo several customizations-making the product coming off the production line consistent in shape, size, & performance. This is positive factor for today’s value-added format manufacturing plants and involves modernized and scientific methods of food preparation. Frozen bakery products do not involve any prior buying, storing or planning of ingredients and can hardly get any leftovers. They feature a variety of items especially for the inexperienced cooks.
In frozen bakery products, there exists a wide scope for innovation to enhance the quality and the versatility in these bakery food items by addition of a variety of enzymes, hydrocolloids and emulsifiers. They offer the flexibility to improve freshness, taste, volume, softening and texture while optimizing process efficiency. The nutritional profiles of these products can also be improved to support digestive health and weight management with the soy protein, functional dietary fibres, prebiotics, and probiotics. All of the aforementioned factors have reflected in the growing popularity of frozen bakery product. The vast globalization has led to enormous rise in transportation and tourism industries in the recent years, which also drive frozen bakery food demand for their easy-transportation.
Frozen bakery products are classified on the basis technology as raw products, ready-to-bake, and ready baked & frozen. Wherein the ready baked & frozen segment is likely to be the fastest growing-owing to the factors such as versatility, wide range of applications, convenience of consumption & transportation. Based on type, the market has been segmented as breads, cakes & pastries, pizza crusts and others (waffles, biscuits, cookies, bagels, pretzels and donuts). The market has been segmented as retail, artisan bakers, catering & industrial, on the basis of distribution channel. Retail sector is likely to be the prime segment over the forecast timeframe, whereas catering & industrial segment will be the fastest growing one. Based on technology, the market has been segmented as raw products, ready-to-bake, ready baked & frozen.
The Asia-Pacific region is projected to be the most lucrative market during the forecast timeframe. Frozen bakery products are likely to gain higher demand in several emerging economies like India-reason being the enhanced standard of living coupled with growing pace of the consumer lifestyles are demanding for readily available and new varieties of food products. European countries such as France, Italy, Spain etc., being the mature markets, will witness comparatively an average growth in the coming years. Manufacturers thus seek newer markets and vastly burgeoning opportunities in developing economies.
The frozen bakery products market is likely to face few restraints such as consolidated market state, consumer preference to freshly baked products, and instability in prices of raw materials. Also, they might contain refined flours, which lose fibre content during its processing-making the baked food less nutritious. This can also affect the market growth.
The frozen bakery products market comprises manufacturers such as, Associated British Foods plc, Grupo Bimbo S.A.B. de C.V., Lantmannen Unibake International, Aryzta AG, Europastry, S.A., General Mills Inc., Premier Foods plc., Inc. Vandemoortele NV, ConAgra Brands and Kellogg Company.
Dynamic consumer preferences, rapid technological innovations, and intense competition have made it necessary for the industry participants to lookout for ways to diversify their product lines. The globally growing pace of the consumer lifestyles propels the demand for convent food choices. This will further rise the adaptation of food bakery products by end user industries over the forecast period.
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