Worldwide Frozen Bakery Market to Develop Rapidly at CAGR of about 6.60% by 2023

Market Overview:
The global market for Frozen Bakery has witnessed continued demand during the last few years and is projected to reach USD 21,842.82 Million by 2023, at a CAGR of 6.60% by 2023. Increasing demand for bakery products with high shelf-life and high demand for convenience food products is likely to drive the global frozen bakery market.

Europe will continue to dominate the frozen bakery market with more than 35% market share and is projected to reach more than USD 8,000 Million with CAGR of 7.27% by 2023. North America will witness highest growth rate (~7.62%) during forecast period 2017 to 2023. Availability of variety of frozen bakery products has increased the popularity and consumption of frozen bakery products among consumers in developed regions. High focus on R & D has led to innovations in bakery products by increasing the shelf-life of the product and enhancing the nutritional value. All these factors have a positive impact on the frozen bakery market.

Based on the types available in frozen bakery, breads will witness highest growth rate (~7.61%). By 2023, bread based frozen bakery will reach a market value of more than USD 6,000 Million on a global level. Rising applications of bread and bread based products in fast food chains has a positive influence on its market growth. Rolls and buns are anticipated to grow at a high rate based on increasing demand for on-the-go food products.

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By 2023, temperature-proof packaging of frozen bakery will dominate the packaging type in the frozen bakery market and is evaluated to grow at a rate of 7.11% during the forecast period. Temperature-proof packaging of frozen bakery product protects it from the outer environments temperature and hence keeps it stable and fresh for a longer period of time. In addition, temperature-proof packaging also helps in inhibiting the bacterial growth hence has a high demand in frozen bakery market.

Pizza based application of frozen bakery will continue to dominate the frozen bakery market holding a major share of 17%. High demand for fast food cuisines will help to fuel up its market share. Frozen desserts based application will witness a highest growth rate (~7.70%) during forecast period 2017 to 2023. By 2023, pizza base based application of frozen bakery is projected to grow at a CAGR of 7.09%.

Major Key Players:
The leading market players in the Global Frozen Bakery Market primarily are Arista AG (U.S.), Grupo Bimbo SAB de CV (Mexico), Flowers Foods, Inc. (U.S.), Rich Products (U.S.), Lantmannen Unibake, USA, Inc (Denmark), Vandemoortele Bakery Products (France), Europastry Sa (Spain), General Mills, Inc. (U.S.)

Study Objectives of Frozen Bakery Market Forecast to 2023:
Detailed analysis for individual micro and macro markets for Frozen Bakery
To estimate market size by Type, Packaging, Application and Region
To understand the supply and demand dynamics of Frozen Bakery
To provide region level market analysis and future outlook for U.S., Spain, U.K., France, and South-East Asia
Company profiling of major players & competitive positioning for the frozen bakery market
Value chain analysis and supply chain analysis of frozen bakery
Analysis of historical market trends, and technologies, and current government regulatory requirements related to frozen bakery market

Target Audience:
Frozen Bakery manufacturers
Frozen breads manufacturers
Food processing industries
Retailers and wholesalers
Traders, importers and exporters

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Key Findings:
The Global Frozen Bakery market is projected to reach USD 21,842.82 Million by 2023
Bread based frozen bakery will continue to dominate the frozen bakery type segment with more than 20% market share
Temperature-proof based packaging of frozen desserts will continue to dominate the frozen bakery market with more than 30% market share and it is projected to grow at a CAGR of 7.11% by 2023
Pizza base will dominate the frozen bakery applications holding a lion’s share in the frozen bakery market and growing at a rate of 7.09%

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This release was published on openPR.