The global frozen bakery products market is expected to reach USD 53.36 billion by 2028, at a CAGR of 7.26% from 2021 to 2028.
NEWARK, USA, NEW JERSEY, Nov. 17, 2021 /EINPresswire.com/ – According to the report published by The Brainy Insights, the global frozen bakery market is expected to reach $ 53.36 billion by 2028, with a CAGR of 7.26% from 2021 to 2028. The Europe region has the highest market value of USD 11.40 billion in 2020. This is due to the fact that in Europe there is a high demand for the products baked goods, containing additional ingredients, which are beneficial to health. North America had the second market value of $ 9.77 billion in 2020. The people of this region are focusing on the health benefits provided by the added ingredient in frozen baked goods. Asia-Pacific posts the highest CAGR over the forecast period, driven by increasing demand for frozen bakery products in developing countries like India.
The major players in the global frozen bakery products market are General Mills (Pillsburry), Aryzta AG, Grupo Bimbo SAB de CV, Europastry, SA, LantmannenUnibake International, Associated British Foods plc, Flower Foods Inc., TreeHouse Foods, Inc., Dawn Foods Products Inc. and Vandemoortele NV among others.
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The product segment is divided into breads, pizza crusts, cakes and pastries, donuts, waffles and cookies. The bread segment represents the highest market value of 10.70 billion USD in 2020. Bread is widely used by almost everyone. There is still a strong demand for bread in Italy, France and Germany. The source segment includes corn, wheat, barley and rye. Barley represents the highest market share of 31.89% in 2020. Barley and rye are most commonly used in the manufacture of different types of frozen bakery products. The end user includes retail, the restaurant industry and the food processing industry. The segment of the catering industry represents the highest market value of 14.67 billion USD in 2020. Indeed, frozen bakery products are in high demand by high-end restaurants, cafes and large hotels, because they provide good quality products, better service at an affordable price.
The distribution channels segment includes artisan bakery, retail, catering and online channel. Catering represents the highest market share of 36.48% in 2020. This is due to the fact that the catering sector caters to many places from the retail sector to hotels, cafes, restaurants upscale to five star hotels.
People in developed countries and some developing countries are now much more aware of their health; they especially prefer healthy products to consumption. So they would prefer fresh baked goods over frozen baked goods. This acts as a constraint on the product.
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