The Global Frozen Bakery Market is forecasted to reach USD 18.6 billion by 2024 growing at a CAGR of 5.6% during the forecast period (2019 - 2024). Key factors that has contributed to growth of frozen bakery are rising preference towards convenient food and popularity of specialty frozen bakery products. The intra-industry competitiveness is high and affects the market. However, the consumer demand is affected by the quality and health concerns. The cake and pastry segment is on a rise with respect to the frozen bakery products market. With the growing demand for premium and customized cakes, the overall cake market is witnessing an increase in demand.
Scope of the Report
The scope of the frozen bakery market includes frozen products such as cake and pastry, bread, morning goods, pizza crust and others. The other type includes: waffles, pancakes, etc. By form of frozen product includes: ready to bake, ready to thaw, and ready to proof baked goods.
Key Market Trends
Rising Demand for Ready to Bake Bakery Products
Bake-off bakery production has become one of the key targets for almost all of industrial bakers in Europe. Scratch baking is labor intensive and requires long time. Industry is shifting from traditional baking to Bake-off technologies (BOT). Three key BOT are Unfermented frozen dough (UFD), partially baked frozen bread (PBF), and Partially baked unfrozen bread (PBUF). Frozen semi-baked goods and ready-to-bake goods are also important product segments for the food industry, especially for hotels and the catering industry. Pre-proofed frozen dough is also a convenient alternative to fresh baked bread. Bakery products like bread, rolls, and bagels are majorly served as ready-to-thaw products, while croissants and pastries are available in the ready-to-bake form.
Growth in food Service Channels
Quick Service Restaurants held a prominent share in the specialty frozen bakery products market. Growing e-commerce is another driving platform for the frozen bakery products market, giving great opportunity to foreign players. Full-service restaurants such as hotel eateries, fast-food outlets, cafes, take-out and delivery joints, are trying to shift towards frozen baked dough, and morning goods that is expected to reduce the order to delivery time. This in turn would lead to a rise in volume sales of bakery products providing better opportunities for wholesale bakers to expand their presence well as product portfolio.
The most active companies of global frozen bakery market are - Grupo Bimbo, Europastry, Lantmannen Unibake International, and Premier Foods PLC, among others. The market studied is highly fragmented, with the substantial presence of numerous global and regional players. The market consists of numerous players for industrial bakeing applications and foodservice channels and the major players are focusing on extensively providing consumers with innovative and exotic flavors, while providing convenience in packaging and consumption.
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