According to MRFR, the global frozen bakery products market is expected to register a CAGR of 7.50% and reach USD 26,366.8 million by 2027.
The global frozen bakery products market is expected to grow owing to the growing demand for convenience foods, increasing number of working women, and rapid expansion of the integrated retail industry. The rise in convenience food consumption started in the western world and quickly spread to other parts of the globe. Ready meals appeal to consumers because they are easy to eat, healthy, versatile and appealing to the product. Consumers are spending less time planning and cooking at home due to changing behaviors as they view food preparation at home as a time and energy consuming activity. Customers are looking for options that will help them maximize their free time and do the things they love most, which means they are looking for options that will help them maximize their free time and do the things they love. love the most. The demand for frozen bakery products is expected to increase accordingly, along with an increase in per capita disposable income. As a result, the global frozen bakery products market is expected to grow over the study period, driven by the growing demand for ready-to-eat foods.
However, high manufacturing costs for frozen bakery products are expected to limit global demand for frozen bakery products throughout the projection period.
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Based on product type, the global frozen bakery products market has been divided into breads and rolls, pizza and pizza crust, cakes and pastries, biscuits and cookies, and others. In 2019, the bread and rolls segment held the largest market share in the global frozen bakery products market, and this dominance is expected to continue between 2020 and 2027.
The global market has been separated into two categories: conventional and gluten-free. The traditional segment accounted for the largest market share in 2018. The dominance of the traditional segment in bakery items can be attributed to its high consumption of wheat flour.
Based on distribution method, global demand for frozen bakery products market has been categorized into in-store and non-store items.
A geographical analysis of the global market was carried out for four main regions: Asia-Pacific, North America, Europe and the rest of the world.
The Asia-Pacific market is expected to grow at the fastest CAGR over the forecast period. Frozen bakery products are expected to increase potential demand in developing countries such as India and China due to increased disposable income and purchasing power parity (PPP) of growing populations in these countries . For players in the frozen bakery industry, variations in raw material prices and a preference for freshly baked products are restrictions.
Over the projection period, Europe is expected to account for the majority of demand for frozen bakery products. In 2018, the region held a market share of 39.71%. In the European Union, developed markets stifle further development, forcing producers to seek new business opportunities in emerging markets. The need for freshly baked traditional products, the fragmented business environment and the volatility of raw material prices are all limiting the growth of the frozen bakery products industry.
Consumption of frozen bakery products is also high in North America, with the industry expected to grow a modest 7.35% over the forecast period. Over the projected period of 2020-2027, however, Asia-Pacific is expected to have the largest CAGR.
The main market players are Grupo Bimbo SABde CV (Mexico), Conagra Brands, Inc. (USA), Associated British Foods PLC (UK), General Mills Inc. (USA), Lantmännen Unibake (Denmark) , Kellogg Company (USA). ), Aryzta AG (Switzerland), Vandemoortele NV (Belgium), Europastry SA (Spain), Cole’s Quality Food Inc. (USA)
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