Frozen Bakery Products Market worth $29.5 billion by 2026

Posted on 2021-10-25 by MarketsandMarkets in Food & Beverage // 0 Comments

Chicago, 2021-Oct-22 — /EPR Network/ —

The frozen bakery products market is projected to grow at a CAGR of 5.8% during the forecast period

The frozen bakery products market is estimated at USD 22.3 billion in 2021 and is projected to grow at a CAGR of 5.8% to reach USD 29.5 billion by 2026. Frozen bakery products have witnessed increased popularity due to their ease of preparation and time- & cost-efficiency. The demand for frozen bakery products is projected to remain high due to the increase in awareness and busier schedules of consumers. The increase in the busy lifestyle of consumers in developed regions is a key factor encouraging the purchase of hassle-free and ready-to-bake frozen bakery products.

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Frozen Bakery Product Manufacturers:

• 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)

High growth is projected in the Asia Pacific frozen bakery products market

The Asia Pacific market is projected to be the fastest-growing market for the period considered for this study due to the strong potential for growth, given the large-scale urbanization and the increasing need for convenient food products in the megacities of China and India. The region’s enhanced industrialized growth over the years, followed by improvements in the food processing industry and cold chain networks, has created new growth opportunities in the frozen bakery products market. The growing middle-class population of the region, the increase in disposable income, and the demand for on-the-go and convenience food products are projected to drive the growth of the frozen bakery products market.

The cakes & pastries segment, by type, is projected to witness the fastest growth in the market during the forecast period

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, croissants, and pies & tarts. When stored longer than four months, cakes develop a sour flavor. However, those prepared using frozen batter do not produce a bad flavor even after four months of storage. Many pastry producers have started marketing single-serving frozen pastry products, keeping in mind the overall trend of improved convenience and shorter preparation time.

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The ready-to-bake segment, by form of consumption, accounted for the largest share

Based on form of consumption, the ready-to-bake segment is projected to hold the largest market share between 2021 and 2026. This is due to the increase in demand for pre-baked products that take less time during the baking process and offer the facility of making fresh bakery products. Ready-to-bake form of consumption offers the facility of making fresh bakery products. Consumers perceive them as fresher and more appealing than the wrapped products placed on store shelves that have a longer shelf life.

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