Industry Outlook and Trend Analysis
The global frozen bakery products market was worth USD 11.07 billion in 2013 and is prognosticated to be nearly USD 24.59billion by 2023, growing at a compound annual growth rate (CAGR) of 8.31% during the forecast period. Rising requirement of processed food and increasing preference of bakery products among consumers is said to boost the demand of bakery products. These products can be stored for longer time in comparison with traditional bakery products. Various benefits provided by these products such as enhanced quality, manufacturing process that is environment friendly, convenient availability and low prices are anticipated to spur the growth of this market. A considerable chunk is contributed by frozen bakery products to the frozen food market owing to the increasing demand of ready to warm and ready to bake products. Quick service is offered by these products along with maintaining freshness as well as quality. Multiple companies have accomplished prosperity in a competitive market by providing these products to places that offer quick services like cafes, gas stations, restaurants, in-store bakeries and coffee chains. The major factors that influence the growth of these products are growing demand among consumers, consistency in taste and enhancement of retail avenues providing these products. On the other hand, shortage of distribution facilities in rural or semi-urban areas and absence of refrigeration facility in some retail stores are factors that can hamper the growth of this market.
Product Outlook and Trend analysis
The global frozen bakery products market in terms of product is disintegrated into pastries, pizza crusts, rolls, donuts, cakes, breads and others. With regards to revenue a substantial market share was registered by pizza crust of over 30 percent. In several western countries like Germany, France, Spain and Mexico frozen pizza is a part of daily meal. Moreover, this segment was leading the market owing to the pattern of consumption in emerging countries like United States and Italy. Companies providing frozen food are launching new pizzas that contain ingredients that are healthy. On the basis of consumption, frozen bread is said to show significant growth in the upcoming years. In America, bread is known to be as a staple food item. At the time of storage various physical and chemical changes take place that may degrade the freshness and the quality of the bread.
Distribution Channel outlook and Trend Analysis
On the basis of distribution channel the global frozen bakery products market is disintegrated into quick serving restaurants, artisan bakers, convenience stores, catering & industrial and Hypermarket & supermarket. Catering and industrial sector is anticipated to witness swift growth in the forecast period. The major factors that spur the growth of this market are the availability of several national as well as international brands of bakery products coupled with rising tourism. Many international cuisines include bread and bread products in their food items. The catering sector is the fastest growing in comparison with any other industry. Quick service restaurants are an increasingly emerging channel of distribution for frozen bakery products. This segment is said to witness significant growth owing to factors like enhanced living standards of people coupled with increased disposable income. Moreover, the rising requirement of convenient and on-the-go products is said to boost the quick service restaurants market.
Regional Outlook and Trend analysis
A significant amount of contribution to the global frozen bakery products market is expected from Europe during the forecast period. Emerging tourism and catering industry in the United Kingdom, France and Germany is said to reflect significant growth in the region in the upcoming years. The growth of the regional market of frozen bakery products is attributed to the increasing requirement for ‘thaw and serve’ products that render convenience to retail bakeries, households, quick service restaurants and grocery stores. Moreover, increase in the shelf life of these products render an option of stocking the products and utilizing as and when needed. Latin America was accounted for a revenue of USD 1.4 billion in 2016 in the frozen bakery market. The region is anticipated to have a booming market due to the rising requirement of processed food and diversity in the lifestyle of the consumers. Additionally, the enhance food culture couples with rising living standards and disposable income is said to spur the growth of the market.
The leading manufacturers in the global frozen bakery products market are Kellogg Company, General Mills, Bridgford Foods Corporation, Alpha Baking Company Inc, Pepperidge Farm, Maple Leaf Foods, Conagra Brands, Vandemoortele, Lantmännen Unibake, Cargill, Général Waffle Manufactory SPRL, Cole's Quality Foods and EUROPASTRY S.A.
The global frozen bakery products marketis segmented as follows-
By Target Audience
Food safety agencies
Government and research organizations
Frozen bakery products manufacturers and suppliers
Food safety agencies
Associations and industrial bodies
Traders, distributors, and retailers
Agricultural institutes and universities
Others Frozen Bakery Products
By Distribution Channel
Catering & Industrial
Supermarkets & Hypermarkets
Ready Baked & Frozen
Rest of Europe
Rest of Asia Pacific
Rest of the World
United Arab Emirates
Some of the key questions answered by the report are:
What was the market size in 2016 and forecast from 2017 to 2025?
What will be the industry market growth from 2017 to 2025?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?