Frozen Bakery products are bakery goods which are frozen and refrigerated at low temperature in order to preserve it for a longer duration. Storage at low temperature preserves not only the bakery products but also the organoleptic property of the baked goods including color, texture and flavor. Bread rolls and pizza crust are some of the major examples of frozen bakery products. The demand for bakery products is found to be increasing based on the high demands from consumers side for convenience food products with high shelf-life and retained organoleptic properties.
The global market for Frozen Bakery has witnessed continued demand during the last few years and is projected to reach USD 21,842.82 Million by 2023. Increase in demand of frozen bakery based products as a across various countries is likely to increase its market share on a global level. Developing economy and increasing disposable income has a positive impact on its market growth.
Bread based frozen bakery will witness the highest growth rate (~7.61%). By 2023, bread based frozen bakery among the various frozen bakery type is projected to grow the most due to its high consumer’s preference and increased demand for bread based products especially from the fast food chains. Bread based frozen bakery share will contribute to the largest market value of frozen bakery. Rolls and buns based frozen bakery will grow at a growth rate of 7.37% and is anticipated to hold a significant share in the global frozen bakery market.
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Based on the packaging of frozen bakery products, temperature-proof packaging is estimated to have the highest growth rate during the given forecast period. Based on the application, frozen desserts will witness the highest growth in the given period.
The major key players in frozen bakery market are
- Arista AG (U.S.)
- Grupo Bimbo SAB de CV (Mexico)
- Flowers Foods, Inc. (U.S.)
- Rich Products (U.S.)
- Lantmannen Unibake, USA, Inc (Denmark)
- Vandemoortele Bakery Products (France)
- Europastry Sa (Spain) and
- General Mills, Inc. (U.S.)
Key players are focused majorly on acquisitions and mergers to expand their business of frozen bakery products and it accounts for more than 50% of the overall strategy share by key players from last few years. New product launch and geographical expansion are the main factor which are contributing more than 20% of strategy share and is facilitating companies to penetrate the potential market across globe.
By 2023, bread based frozen bakery will reach a market value of more than USD 6,000 Million. High application and increased demand for bread based products across the food industries is having a positive impact on its market. Based on the packaging, temperature-proof packaging based on the low preservation temperature of the baked goods is anticipated to hold a lion’s share in global frozen bakery market.
Pizza base based application of frozen bakery is estimated to hold a major share of the total market share and it is projected to grow at a CAGR of 7.09% by 2023. However, sandwich slices based application will witness a high growth rate (~7.11%) during forecast period 2017 to 2023. Rising consumption rate and demand for on-the-go baked good products will have a positive impact on the market share of sandwich slices.
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Europe will continue to dominate the frozen bakery market with more than 35% market share and it is projected to reach more than USD 8,000 Million with CAGR of 7.27% by 2023. North America will witness the highest growth rate (~7.62%) during forecast period 2017 to 2023. Asia-Pacific region will witness the growth of 6.41% in frozen bakery market for the same period. Growing popularity of consumption of convenience bakery products is driving the market growth of frozen bakery globally. Developing economy and increasing disposable income are playing a key role in the frozen bakery market growth from last few years.