NEWARK, Del, April 10, 2023 (GLOBE NEWSWIRE) -- The frozen bakery market is anticipated to expand its roots at a steady CAGR of 6.5% between 2023 and 2033. The market is anticipated to cross a market share of US$ 85.97 billion by 2033 while it is likely to be valued at US$ 45.8 billion in 2023.
- The restoration of the bakery industry along with the young population choosing ready-to-eat food products are adding value to the market growth. Furthermore, the higher number of bakeries renovating, applying latest bakery products and tools are fueling the demand for frozen bakery products.
- The rising popularity of gluten-free, organic bakery superfoods have gained traction for the market. New vendors experimenting with bakery items such as bread, dough, and toppings is also attracting their consumer base, expanding the industry across regions.
- Bakery giants or big companies that uses bakery products such as McDonalds, Domino's Pizza, and Pizza Hut are investing in Asian economies such as India and China while promoting the growth prospects.
- New cafe culture along with new concepts like burger cafe, and pizza cafe is experimenting with their menu, using new organic, gluten-free, healthy sides. Brands reach up to frozen bakery products with higher shelf life and enhanced quality & texture.
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Key Points
- The United States market leads the frozen bakery market in terms of market share in North America. The growth in this region is promoted by the advanced food options, expanding corporate food culture along with the higher penetration of ready-made items.
- The United Kingdom frozen bakery market is another significant market from the European region. Europe packaged bakery items are famous for its authenticity, taste, and texture. This helps the market gain traction through all the countries across the region.
- The Japanese frozen bakery market is anticipated to thrive at a healthy CAGR during the forecast period. Asia Pacific region is witnessing higher foreign investment, a higher impact of western food culture on a large population and increased per capita income.
- The fully baked product type is leading the segment with a CAGR of 7.5% between 2023 and 2033. It's due to its higher consumption, and easy-to-use prospects.
- Based on sales channel, the online segment thrives at a CAGR of 6% during the forecast period. It is due to the higher penetration of e-commerce platforms and easy shipping options.
Competitive Landscape
The key vendors work on experimenting with dough, breads, and sides. Alongside this, the increased shelf life with sustained quality and texture is something vendors work on. Key competitors and also merge, acquiring, and partnering with other companies to increase their supply chain, and distribution channel.
The key players in the market are Albany Molecular Research Inc.; General Mills, Europastry, Comapan, Rich Products Corporation, Canada Bread Company, Don Maiz SAS, Patagonia Artisan Bakers, Vandemoortele, Aryzta AG, Kellogg Company, Conagra Brands, Associated British Food, and Dr. Oetker
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Recent Market Developments
- Dr. Oetker has introduced its new frozen bakery products such as frozen pizza, frozen mini cakes, and easy-made waffles. Furthermore, it has also revised the cake decoration, cake mixes, and has extended their boundaries with a new brand named “My sweet Table”.
- Conagra Brands, under its ready set eat product range has introduced one-dish dinners and other bakery products such as frozen dough, pizza, and sides.
Market Segmentation
Recipe Outlook:
- Bread
- Viennoiserie
- Patisserie
- Savory Snacks
Product Outlook:
- Ready-to-prove
- Ready-to-bake
- Fully Baked
End User Outlook:
- Convenience Stores
- Hypermarkets & Supermarkets
- Artisans Bakers
- Hotels, Restaurants, and Catering (HORECA)
- Bakery Chains
- Online Channels
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Table of Content
1. Executive Summary | Frozen Bakery Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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Explore FMI’s Extensive Coverage on Food & Beverage Domain:
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Bakery Enzymes Market Share: As per Future Market Insights (FMI), the overall bakery enzymes market value is expected to reach US$ 1,452.3 Mn by 2031, rising at a CAGR of 5.1% for 2021-31.
Bakery Improvers Market Growth: The industry's estimated value will increase from US$ 1,283.9 million in 2023 to US$ 1,846.3 Million in 2033.
Bakery Mixes Market Demand: Global bakery mixes market demand is anticipated to be valued at US$ 5,912.3 Million in 2022, forecast to grow at a CAGR of 5.3% to be valued at US$ 9,909.2 million from 2022 to 2032.
Bakery Products Market Value: As per the report, sales will increase at a 4.2% CAGR over the forecast period, reaching US$ 354.6 Bn by 2032.
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Old Source: Frozen Bakery Market to Witness a robust CAGR of 7.4% during the forecast period of 2022 to 2032 - Future Market Insights, Inc.
