October 11, 2019
According to the new research report available at MarketStudyReport.com under the title ‘Global Frozen Bakery Products Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024’, the worldwide frozen bakery products market is anticipated to accumulate US $38500 million by the year 2024.
Changing lifestyles of customers coupled with growing demand for processed food is anticipated to stimulate frozen bakery products market. Food items preserved using freezing method stays fresh for long duration and retains good taste, appearance, and texture. Several frozen bakery products like cake dough, pastries, patisserie, etc. have a high demand, which will augment the market growth over the forecast timeframe. Other factors propelling the market are increasing foodservice spending and introduction of new products.
As per the report, frozen bakery products market was worth US $28400 million in 2019 and is expected to grow with a CAGR of 6.3% by the year 2024. Furthermore, the average price of the products has declined in the recent years owing to the development in technology, further boosting the market growth.
Considering the product type, frozen bakery products market is fragmented as cookies, pizza, cake & pastry, bread, and others. While based on the application spectrum, the market is segmented as foodservice, large retail, convenience & independent retail, and others.
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Speaking of the regional outlook, the global frozen bakery products market is bifurcated into five major regions; Europe comprises France, UK, Italy, Germany, and Russia; India, China, Japan, Southeast Asia, and Korea fall under Asia Pacific; North America consists of Canada, United States and Mexico; South America consists of Brazil, Colombia, and Argentina; South Africa, Egypt, Nigeria, UAE, and Saudi Arabia come under Middle East & Africa region. Furthermore, Europe dominated the industry with 44.45% revenue share in 2016.
The prominent companies operating in frozen bakery products market include Kobeya, Kuchenmeister GmbH, Nestle SA, Agrofert, Harry-Brot GmbH, Aryzta AG, Europastry S.A, Vandemoortele NV, Associated British Foods plc, Conagra Brands, Inc., Cambell Soup Co, Flowers Foods, Inc., Kellogg Company, Tyson, General Mills, Inc., Lantmannen Unibake International, and Grupo Bimbo S.A.B. de C.V.