According to the latest report by IMARC Group, titled "Frozen Bakery Products Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global frozen bakery products market is projected to grow at a CAGR of 5.60% during 2022-2027. Frozen bakery products represent a range of fast-moving consumer goods (FMCG) that are prepared from a combination of various condiments, including wheat, sugar, milk, eggs, emulsifiers, preservatives, flavorings, and leavening agents. After preparation, baked goods are cooked in the dry heat offered by ovens and then chilled in the refrigerator for months. This practice aids in extending product shelf life and maintaining flavor and nutritional profile by mitigating microbial growth. At present, frozen bakery products entail ready-to-bake muffins, tarts, cookies, biscuits, cakes, pastries, and donuts as standard consumer goods. These food items are convenient to use and a rich source of fiber, calcium, proteins, and carbohydrates that assist in regulating weight and mitigating the risk of obesity. Additionally, they are palatable and easily digestible, due to which they are extensively sold in stores, cafes, and restaurants.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Frozen Bakery Products Market Trends:
The growth of the market can be attributed to the rapid expansion in the food and beverage (F&B) sector and the increasing need for nutritious, low-calorie, multi-grain, easy-to-prepare, and ready-to-eat (RTE) baked food products with longer shelf life. This is further supported by the evolving consumer preferences and tastes due to hectic lifestyles, which, in turn, is facilitating the demand for frozen bakery products that require consequently less preparation time. In line with this, the growing product demand across restaurants, cafeterias, and food service institutions is acting as another growth-inducing factor. Additionally, the advent of microencapsulation technology, modern machines, and individual quick-frozen (IQF) systems to replace conventional baking practices, enhance shelf life, and maintain the freshness, flavor, and texture of the products are contributing to the market growth. Moreover, the widespread adoption of e-commerce and online platforms for purchasing frozen bakery products at cost-effective prices, especially during the COVID-19 pandemic, is impelling the market growth. Other factors, including escalating product consumption across the globe and strategic collaborations amongst key players to introduce healthy product variants formulated with gluten- or fat-free ingredients in attractive packaging solutions, are creating a positive outlook for the market.
- Based on the product type, the market has been divided into bread and rolls, cakes and pastries, cookies and biscuits, and others. Amongst these, breads and rolls are the most popular frozen bakery product type.
- On the basis of the distribution channel, the market has been segregated into artisan bakers, retail, catering, and online channels. Presently, artisan bakers represent the major distributor.
- Based on the end user, the market has been classified into retail, food service, and food processing industry. Currently, the food service industry holds the largest market share.
- On a regional basis, Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and Others) presently dominates the market, followed by North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others), Latin America (Brazil, Mexico, and Others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined, with some of the key players being Aryzta AG, Associated British Foods plc, Bridgford Foods Corporation, Conagra Brands Inc., Dawn Food Products Inc., Europastry S.A., Flowers Foods, General Mills Inc., Kellogg Company, Lantmännen, TreeHouse Foods Inc. and Vandemoortele.
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