May 06, 2020
According to the research report titled ‘Global Frozen Bakery Market Size By Recipe , By Product, By End-User Industry Analysis Report, Regional Outlook , Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024’, available with Market Study Report LLC, worldwide frozen bakery market is predicted to exceed USD 40 billion by the year 2024.
Evolving consumer lifestyles and growing demand for convenience food products are major factors fueling the growth of global frozen bakery market. These products are not only easily available, but also have better quality and longer shelf life. They are manufactured using eco-friendly practices and affordable. Growing demand for frozen bakery products such as patisserie, cake dough, pastries and breads is further aiding the market expansion.
Frozen bakery products save time during preparation and are widely used & served across retail food outlets, bakeries, and restaurants. Robust marketing strategies implemented by industry majors to attract household consumers are also creating lucrative growth opportunities for frozen bakery market. However, high expenditure on energy for production and storage of frozen bakery products may restrain the market expansion.
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By recipe type, breads and viennoiserie segments held a considerable market share in 2017 and is estimated to record continuous growth in the subsequent years. Widespread utilization of breads in various quick service restaurants is driving the growth of the two segments.
As per product type, fully baked segment accounted for 15% market share in 2017 and is predicted to expand decently during the forecast period. Fully bakes items are extensively used in bakery and cake shops for producing donuts, rolls and pastries.
Considering the geographical landscape, Asia-Pacific frozen bakery market is reckoned to witness remunerative growth by the year 2024. Changing lifestyle and rising per capita income along with consumer preference for convenience food products are promoting the industry outlook in Asia-Pacific.
The established companies in frozen bakery market are CSM Bakery Solutions, Weston Foods, Comapan S.A., Aryzta AG, BredenMaster S.A., Grupo Bimbo and Vandemoortele among others.