Frozen Bakery Products Market worth $29.5 billion by 2026
Frozen bakery products are increasingly becoming an integral part of the daily diet around the world, particularly in European countries.
Frozen bakery products market is projected to reach USD 29.5 billion by 2026, from USD 22.3 billion in 2021, at a CAGR of 5.8% during the forecast period. 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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A pastry differs from bread in terms of fat content, contributing to the flaky texture. Pastry dishes include pies, tarts, sponge cakes, croissants, and muffins. The frozen cake is a form of sweet-baked dessert consisting of flavored ingredients, such as fruit extracts. Specialty cakes are gaining popularity, with a high starch-gluten ratio and low-protein wheat. They are further segmented into sponge cakes, muffins, and cookies. Currently, the frozen bakery product market players utilize new technologies to achieve the required/recommended levels of freezing for cakes. In countries such as the US, Canada, and Mexico, frozen cakes have been at the forefront among other frozen bakery products.
Conventional stores have the potential to be a prominent distributional channel for frozen bakery products. Niche retailers among these stores have also realized the opportunity to establish an effective retail chain. Earlier, these companies marketed their line of products only through exclusive stores situated in prime locations. However, these companies now understand the dynamic changes in consumer preferences for healthier food products. Hence, a majority of the companies are marketing their products across regions through all possible channels to ensure sustainability in the global market. Thus, distribution channels play a vital role in bridging the gap between key players of frozen bakery products and the end consumers in the market.
The Asia Pacific region is among the fastest-growing regions for frozen bakery products. The food & beverage industry has contributed significantly to the market growth in this region. Due to the growing population, rising incomes, and increasing urbanization the market growth is significant. These factors are projected to support the growth of niche markets, such as frozen bakery products. The market is driven by the increase in demand for convenience food products in developing countries such as India, China, Japan, and Australia. In the Asia Pacific region, China accounted for the largest share in the frozen bakery products market in 2020.
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), Coles Quality Foods Inc. (MI), and Dawn Food Products Inc (MI).