Frozen Bakery Products Market Analysis and Leading Key Players

The overall frozen bakery products market is projected to grow from USD 22.3 billion in 2021 to USD 29.5 billion by 2026, at a CAGR of 5.8%.

Frozen bakery products are increasingly becoming an integral part of the daily diet around the world, particularly in European countries. The busy lifestyle of consumers has contributed to the growth of the bread manufacturing industry to produce new products that could cater to the rise in demand from consumers. The increase in consumption of frozen bakery products in the emerging markets of Asia Pacific and Latin America has also led to a rise in the sales of frozen bakery products. The demand for frozen bakery products in developing regions is driven by the increase in disposable income.

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Drivers: Rise in demand for convenience food products

The increase in consumer preference for convenience food products indirectly encourages the demand for frozen bakery products as they require less time and effort. The processed food market is driven by the increase in the need for convenience due to the busy customer lifestyles. This, in turn, has led to an increase in demand for frozen bakery products. In addition, the high growth of the frozen food industry due to the fast-growing urban households of developing countries is projected to drive the demand for frozen bakery products. The rise in per capita income and the increase in the trend of snacking between meals are the key factors encouraging the demand for frozen bakery products. The development of retail channels in the form of supermarkets, hypermarkets, convenience stores, and specialty stores has encouraged the growth of the market. Frozen bakery products do not involve scratch baking and thus require less labor. Therefore, various bakers now prefer keeping frozen baked and parbaked items in their in-store bakeries.

Restraints: Rise in preference for conventional, freshly baked products

Consumers believe that the food products processed in a year or more before it is consumed could not be nutritious. The consumer preference for freshly-baked products remains high due to the assumption that frozen food products lack nutrition. This is due to the perception that their nutritive value deteriorates during the refrigeration process, which restrains the market growth to a significant extent. The need to maintain a constant temperature for frozen bakery products sometimes becomes difficult due to the inefficient cold chains in some developing and under-developed countries. This is projected to be one of the major restraining factors for the growth of the frozen bakery products market.

Opportunities: Adoption of individual quick frozen (IQF) technology to maintain the freshness of frozen bakery products

The high-quality frozen bakery products are mainly attributed to the development of a technology, which is known as the individual quick-frozen (IQF) method. IQF is a freezing method that does not allow large ice crystals to form in food products. With traditional freezing, large ice crystals can damage cells and crystal fibers, which makes the food products dry out. IQF foods, however, produce small ice crystals that allow the fibers of the food product to remain unscathed. Microencapsulation is a recent technology that can help manufacturers achieve the goal of increasing the shelf life and texture of their range of gluten-free frozen bakery products. This technology is used to overcome the cardboard consistency of refrigerated pizza, rising crust pizza, and also the shelf-life extension of frozen and refrigerated dough, frozen biscuit dough, scoop and bake frozen muffins, and biscuits.

Challenges: Lack of transport infrastructure support in emerging markets

Refrigerated storage and transportation is a prerequisite for an efficient supply chain in this market. However, developing markets such as the Asia Pacific, Gulf, and Latin American countries lack efficient transport infrastructure and are not well connected. The missing links in these networks continue to limit route choice, while insufficient capacity and the poor quality of the infrastructure add costs and time to the transit.

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The key service providers in this market include The key players in this market include Grupo Bimbo (Mexico), General Mills Inc. (US), Aryzta Ag (Switzerland), Europastry S.A. (Spain), Conagra Brands, Inc. (US), Associated British Foods Plc (UK), Kellogg Company (US), Lantmannen Unibake International (Denmark), Vandemoortele Nv (Belgium), Premier Foods Group Ltd. (UK), Cargill, Incorporated (US), Flowers Foods (GA), Bridgford Foods Corporation (US), Cole's Quality Foods Inc. (MI), and Dawn Food Products Inc (MI). These players are undertaking strategies such as new product developments and launches and divestments to improve their market positions and extend their competitive advantage.

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