At 4.0% of CAGR Frozen Bakery Products Market Share will increase and aimed to cross US$ 33.3 billion in 2028

According to a new market research report "Frozen Bakery Products Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Breads and Rolls, Cakes and Pastries, Cookies and Biscuits, and Others), Category (Gluten-free and Conventional), and End Use (Foodservice and Food Retail) and Geography" published by TheInsightPartners, the frozen bakery products market size is projected to grow from US$ 25.31 billion in 2021 to US$ 33.3 billion by 2028 by 2028, at a Compound Annual Growth Rate (CAGR) of 4.0% during the forecast period. A few frozen bakery products are bread and rolls, cakes and pastries, and cookies and biscuit. These products are mostly derived from wheat, rice, and barley. Frozen bakery products are gradually becoming an essential part of the daily diet, specifically in Europe and North America.

A few players operating in the frozen bakery products market are Dawn Food Products, Inc.; Europastry, S.A; Lantmannen Unibake.; Grupo Bimbo; S.A.B. Dec.V; Aryzta Ag; General Mills, Inc.; Cole's Quality Foods Inc.; Conagra Brands, Inc.; and Bridgford Foods Corporation. The key companies adopt strategies such as the mergers and acquisitions, and research and development to expand customer base and gain significant share in the global market, which also allows them to maintain their brand name globally.

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The frozen bakery products market in Asia Pacific is expected to grow at the highest CAGR during the forecast period. The region is witnessing rapid economic growth, rise in number of manufacturing companies, and growth in the organized retail and service sector, owing to the rise in population, favorable government regulations, liberal trade policies, availability of abundant resources, and cheap labor and manufacturing facilities. Moreover, people in this region are readily adopting western culture, which is influencing their consumption patterns and eating habits. The frozen bakery products market is expected to grow significantly in this region owing to rapid urbanization, modern lifestyle, rapidly emerging corporate sector, hectic work schedules, and other such factors.

Impact of COVID-19 Pandemic on Frozen Bakery Products Market

The COVID-19 outbreak has impacted different industries in different manner. Amid the pandemic, the lockdown imposition is restricting the supply chain of frozen bakery products. The unavailability of raw materials and labor, due to the restrictions on the movement of people, is hindering the production of frozen bakery products. The frozen food industry has seen a steady growth amid pandemic as people are consuming foods that have a longer shelf life. According to the President of American Frozen Food Institute (AFFI), the US based frozen foods players has seen the sales of the frozen food products in the US were increased by 18.2% in 2020, which is approx. US$ 66 billion in sales.

Market Insights

Rise in Demand for Convenience Food

The demand for frozen bakery products is surging, owing to rising consumer preference toward processed or convenience foods. In addition, the easy availability of frozen bakery products has influenced the buying pattern for the shoppers who are concerned with the dietary merchandise and rendered a firm place to the frozen bakery products in the list of daily consumables. Moreover, due to the growing food & beverages industry and improving economic conditions, consumers in developed and developing regions worldwide are moving toward convenience foods. The rural-urban migration has also increased in developing countries which has led to an increase in street vending, ready-to-eat, and convenience foods. As a result, there has been a notable rise in the consumption of ready-to-eat foods, which has resulted in a significant increase in the market for convenience foods.

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Product Type Insights

Based on product type, the frozen bakery products market is segmented into breads and rolls, cakes and pastries, cookies and biscuits, and others. The bread and rolls segment accounted for the largest market share in 2020. However, the cookies and biscuits segment are expected to register the highest CAGR in the market during the forecast period. Cookies and biscuits are mostly made from ingredients such as flour, sugar, and oil or fat. There are many extra fixings in biscuits and cookies such as chocolate, oats, raisins, almond, cashews, and pistachio. The baked cookies are frozen in a single layer or a sheet pan. Once the individual cookies are frozen, they can be stored in a flat-bottomed airtight container. The layers are separated by a parchment or waxed paper to avoid the sticking of cookies to each other. The cookie dough is frozen depending upon the source of the dough, as well as the ingredients used in it.

Category Insights

Based on category, the frozen bakery products market is bifurcated into gluten-free and conventional. The conventional segment accounted for a larger market share in 2020, whereas the gluten-free segment is expected to register a higher CAGR in the market during the forecast period. Gluten is a protein found in wheat flour and is mostly used for making bakery food items. Gluten has a glue-like property that forms a sticky network and gives the breads ability to rise when they are baked. Many of the consumers feel uncomfortable after eating frozen bakery products containing gluten. Gluten-free frozen bakery products do not contain any gluten. The frozen bakery product manufacturers use ingredients such as xanthan gum or guar gum to make the dough or batter rise. The awareness among the consumers about gluten causing celiac disease and other digestive health issues is motivating the consumers to shift to gluten-free dietary lifestyles.

End-Use Insights

Based on end-use, the frozen bakery products market is bifurcated into food service and food retail. The food service segment accounted for a larger market share in 2019, whereas the food retail is expected to register a higher CAGR in the market during the forecast period. The retail segment for the frozen bakery products comprises supermarkets & hypermarkets, specialty stores, convenience stores, as well as online retail. Supermarkets and hypermarkets are self-service shops stocking a wide variety of frozen bakery products. Frozen bakery products have a dedicated section in the supermarkets and hypermarkets. Supermarkets and hypermarkets purchase frozen bakery products such as cakes & pastries, pizza crusts, waffles, and cookies to sell them to the households.

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