Dallas, March 15, 2022 (GLOBE NEWSWIRE) — According to a report published by The Brainy Insights, the global frozen bakery products market is expected to grow from $30.45 billion in 2020 to $53.36 billion by 2028, with a CAGR of 7.26% over the forecast period 2021-2028. Rising demand for convenience food products is one of the factors driving the frozen bakery products market.
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The frozen bakery product, in general, includes donuts, bread, pastries, etc. which are made from wheat, barley, corn, rye, rice and oats. Bread was the most common staple at the time. This provides many nutrients to human beings. They also have a relatively longer shelf life and are easy to use. There is an increase in the demand for frozen foods all over the world. Frozen foods are packed with nutrients, which increases their shelf life, paving the way for frozen baked goods. People lead hectic lives these days which has led them to prioritize ready meals and snacks to go.
On-the-go snacks consist of fresh and frozen baked goods. Frozen bakery products are in high demand by bakeries, cafes, coffee chains and restaurants. Rising population and rising disposable income are also driving the frozen bakery products market. There is a surge in demand for convenience food products, all high end restaurants, hotels and cafes have a high demand for frozen baked goods as this at affordable prices provides high quality products with good service . It also has a longer shelf life and can be consumed quickly. The working class lifestyle has become much more hectic and with a large disposable income they are looking for ready meals that can be easily consumed and quick to prepare.
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People in developed and some developing countries are now much more health conscious; they only prefer healthy products for consumption. They would therefore prefer fresh baked goods to frozen baked goods. This acts as a holdback for the product. However, people usually prefer to go to cafes and restaurants, where they choose frozen baked goods, and they serve freshly baked baked goods to customers, and people don’t even realize it.
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.
• For example, in June 2018, Grupo Bimbo SAB de CV acquired the Mankattan Group, which was a major player in the bakery industry. This acquisition enhanced the organization’s product portfolio, manufacturing capabilities and distribution network.
• In July 2017, Europastry, SA reached an agreement to acquire a 60% stake in the Galician group Ingapan. This acquisition will strengthen the organization’s national and international distribution network.
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Bread segment accounts for the highest market value of USD 10.7 billion in 2020
The product segment is divided into breads, pizza doughs, cakes and pastries, donuts, waffles and cookies. Bread segment accounts for the highest market value of USD 10.7 billion in 2020. Bread is widely used in almost all over the world. There is still a great demand for bread in Italy, France and Germany.
Barley represents the highest market value of USD 9.71 billion in 2020
The source segment includes corn, wheat, barley and rye. Barley accounts for the highest market value of USD 9.71 billion in 2020. This is because barley and rye are mainly used in making different types of frozen bakery products.
The restaurant industry segment accounts for the highest market value of USD 14.67 billion in 2020
End user includes retail, food service industry and food processing industry. The restaurant industry segment accounts for the highest market value of USD 14.67 billion in 2020. Indeed, frozen bakery products are in high demand by high-end restaurants, cafes and large hotels, as they provide good quality product, better service with affordable price.
Catering represents the highest market value of USD 11.08 billion in 2020
The distribution channel segment includes artisan bakers, retail, restaurant and online channels. Foodservice accounts for the highest market value of USD 11.08 billion in 2020. Indeed, foodservice is primarily responsible for supplying baked goods in the retail sector, hotels, cafes, upscale restaurants, etc.
Regional Segment Analysis of Frozen Bakery Products Market
• North America (United States, Canada, Mexico)
• Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, rest of APAC)
• South America (Brazil and rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)
Regions analyzed for Frozen Bakery Products market include North America, Europe, South America, Asia-Pacific, Middle East and Africa. The Europe region has the highest market value of USD 11.4 billion in 2020. This is due to the fact that in Europe there is a high demand for the frozen bakery product, containing additional ingredients, which is beneficial for health. North America had the second largest market value of $9.77 billion in 2020. People in this region focus on the health benefits provided by the added ingredient in frozen baked goods. Asia-Pacific shows the highest CAGR during the forecast period, owing to the growing demand for frozen bakery products in developing countries like India.
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About the report:
The global frozen bakery products market is analyzed on the basis of value (USD billion). All segments have been analyzed on a global, regional and country basis. The study includes analysis of more than 30 countries for each segment. The report offers an in-depth analysis of the drivers, opportunities, restraints and challenges to obtain key market insights. The study includes Porter’s five forces model, attractiveness analysis and competitor position grid analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aiming to provide businesses with actionable insights through data analytics to improve their business acumen. We have a robust forecasting and estimating model to meet customers’ high-quality production goals in a short period of time. We provide custom (customer specific) and syndicated reports. Our union reporting repository is diverse across all domain categories and subcategories. Our customized solutions are designed to meet customer needs, whether they are looking to expand or planning to launch a new product in the global market.
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