U.S. Frozen Bakery Market Size

U.S. Frozen Bakery Market Size

U.S. Frozen Bakery Market size was more than USD 6 billion in 2017 and will witness 4.3% CAGR during the forecast timespan. 

U.S. frozen bakery market will be primarily driven by the rising demand for ready to eat and convenience food market in the country. The globalization of eating habits does not mean a narrowing of market opportunities, rather it means that a wider variety of foods will be sold and consumed in a wider variety of places. Thus, creating ample growth avenues for the product. Furthermore, high per capita income and busy lifestyle of consumers have substantially driven demand for ready to eat food products in the U.S. in past few years and shall continue to do in the coming years. This will positively influence frozen bakery market demand over the forecast duration.

Rising disposable income also increases demand for variety in food while prices become less important. As per capita income rises, people travel more and explore new food cuisines. Food processing companies are responding to these developments by introducing new products. Moreover, restaurant business also contributes significantly in the frozen food market growth. In 2016, the total food & beverages sale from restaurant business was approximately USD 766 billion. Additionally, the quick service restaurants industry was valued at USD 198 billion in 2014 in the U.S., which is likely to grow substantially in the coming years and eventually will propel frozen bakery demand from 2018 to 2024.

The frozen bakery market is primarily driven by substantial participation of women in the U.S. workforce and a rising number of households with nuclear families. As ready to bake and fully baked food items require a very little preparation, these offer a convenient solution to people juggling between hectic work schedules.

In recent decades, gradual changes have been occurring in the socioeconomic environment and the demographic structure of the U.S. population. These changes along with technological advancements in farming and marketing, have substantially influenced frozen food consumption habits of consumers. Changing food consumption patterns as well as emerging sources of food supply are impacting the entire food industry, which will be ultimately influencing the frozen bakery products market. However, massive obese population along with drifting consumer focus towards nutritious diet shall hamper bakery product demand in the U.S.