Frozen Bakery Products Market to Reach $59.9 Billion by 2027- Exclusive Report Covering Pre and Post COVID-19 Market Analysis by Meticulous Research®

According to a new market research report titled "Frozen Bakery Products Market by Product Type (Breads, Pizza Crust, Cookies & Biscuits, and Waffles), End Use (QSR, Hotels, Restaurants, and Catering, Bakery Chains, and Food Processing Industry), Specialty (Low-Calorie and Organic) - Global Forecast to 2027", published by Meticulous Research®, the frozen bakery products market is expected to grow at a CAGR of 4.8% from 2020 to 2027 to reach $59.9 billion by 2027.

The increasing demand for convenient frozen food products is one of the major factors responsible for the enormous growth of the frozen bakery products market. The frozen bakery products include ready-to-bake, ready-to-eat, and ready-to-proof products, which save the consumers' efforts and time required for preparing bakery products. Frozen bakery products are being increasingly preferred by in-store bakeries, coffee chains, gas-stations, and quick-service restaurants to offer instant service while retaining the freshness and quality of food. The growth of the frozen bakery products market is mainly attributed to increasing urbanization and inclination towards convenience foods, changing consumer taste and preferences, growing global cold-chain market, and the availability of a wide range of bakery products across various distribution platforms. However, the preference for freshly baked foods and temperature monitoring requirements are expected to restrain the future growth of this market to some extent.

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The frozen bakery products market study presents historical market data in terms of value (2018 and 2019), estimated current data (2020), and forecasts for 2027-by product type (breads, pizza crust, cakes & pastries, cookies & biscuits, donuts & pies, and waffles), use (ready-to-proof, ready-to-bake, and ready-to-eat), end use (artisan bakers, hotels, restaurants, and catering, supermarkets & hypermarkets, bakery chains, and the food processing industry), specialty type (specialty [low-calorie, gluten-free, organic, fortified, sugar-free, and other specialty types] and no specialty), and geography. The study also evaluates industry competitors and analyzes the market at the regional and country level.

Impact of COVID-19 on the Frozen Bakery Products Market
The COVID-19 pandemic has led to the adoption of some best practice models by the frozen bakery industry as the coronavirus pandemic has conveyed to the forefront the importance of hygienic and shelf-stable packaged foods in preventing the disease. From the storage and distribution points of view, this industry has faced unprecedented demand from manufacturers, retailers, and consumers, particularly for products such as frozen breads, pizzas, and cookies & biscuits. Many companies in the bakery industry have already started changing their strategies, witnessing sudden growth in demand.

As the COVID-19 pandemic spreads across the globe, governments, businesses, and consumers are changing behaviors rapidly, reflecting shifts in consumer preferences. Consumers are getting accustomed to the new social distancing norms and seek products that are convenient, healthy, and hygienic. In this process, frozen foods have gained importance in the consumers' lives, as frozen bakery products have started becoming more visible on the market shelves, and consumers are stockpiling shelf-stable and frozen foods ahead of what could be a large-scale outbreak. Also, consumer perception is that, as long as foods are baked in their own kitchens, they can be assured of product hygiene and safety.

Further, school and office closures have compelled people to opt for at-home breakfast, coffee, and lunch, which increased the demand for convenience and ready-to-cook foods, and frozen bakery products with longer shelf lives, such as breads, rolls, and buns. Likewise, the more indulgent bakery items, such as pastries, doughnuts, and other bakery snacks, also witnessed increased demand.

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The shortage of traditional bakery options on grocery store shelves presents a unique opportunity to accelerate the adoption of frozen bakery products, mainly in North America and Europe. Quick-service restaurants (QSR) were the least affected. Their established drive-thru structure and the takeout culture have benefited QSRs. The performance of QSRs directly affects frozen bakery product manufacturers, as burger buns, sandwich rolls, and breakfast items represent the majority of the demand.

Based on product type, the breads segment is estimated to command the largest share of the overall frozen bakery products market in 2020. The large share of this segment is mainly attributed to the increasing consumption of bread across the globe, strong growth in the fast-food outlets, ready-to-eat product chains, and quick-service restaurants; and consumer inclination towards convenience and ready-to-eat food products. The consumers' increasing preference for healthy food products is expected to further support the growth of the frozen breads segment.

Based on use, the ready-to-bake segment is estimated to command the largest share of the overall frozen bakery products market in 2020-however, the ready-to-eat frozen bakery products segment is expected to register the fastest growth during the forecast period. The rapid growth of this segment is mainly attributed to factors such as fast-paced and hectic lifestyles, which have compelled consumers to accept convenience and ready-to-eat bakery products, rising urbanization, and increasing disposable income levels of the middle-class population. Innovation in product offerings and the development of cold chains also propel the growth of the ready-to-eat frozen bakery products segment.

Based on end user, the supermarkets & hypermarkets segment is projected to register the fastest growth during the forecast period 2020 to 2027. The rapid growth of this segment is mainly attributed to the increasing number of supermarkets & hypermarkets across the globe. The easy availability of frozen bakery products at low prices in supermarkets & hypermarkets also supports the growth of this segment.

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Based on specialty type, the fortified frozen bakery products segment is estimated to command the largest share of the frozen bakery products market in 2020. Urbanization and the worldwide increase in the working population have boosted the demand for healthy and convenient food products, which are the major factors driving the growth of the fortified frozen bakery products segment. Also, the growing health consciousness among consumers further supports the growth of this segment.

The report includes an extensive assessment of the key strategic developments by leading market participants in the industry over the past 4-5 years (2016-2020). The frozen bakery products market has witnessed several new product launches, partnerships, agreements, and collaborations in recent years. The key players operating in the global frozen bakery products market are Associated British Foods Plc. (U.K.), Nomad Foods (U.K.), Oetker-Gruppe (Germany), Grupo Bimbo (Mexico), Europastry, S.A (U.S.), General Mills Inc. (U.S.), Aryzta AG (Switzerland), Vandemoortele NV (Belgium), Conagra Brands, Inc. (U.S.), Campbell Soup Co. (U.S.), Lantmännen Unibake International (Denmark), Kellogg Co. (U.S.), and Nestle SA (Switzerland) among others.

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