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.
“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.
“The ready-to-bake segment, by form of consumption, accounted for the largest share in 2020.”
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.
“The food service providers segment, by distribution channel, is projected to grow at the highest CAGR during the forecast period.”
Foodservice providers include restaurants, cafes, institutional foodservice channels, and industrial channels for value addition of frozen baked products. Due to the increase in the number of food service providers, such as national and international brands, in the hotel industry, the demand for frozen bakery products is estimated to increase. This is due to the changing lifestyle and growing demand for frozen and par-baked products in restaurants and other institutional food service outlets
“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.
Break-up of Primaries:
- By Company Type: Tier 1 - 28 %, Tier 2 - 39%, and Tier 3 - 33%
- By Designation: D-Level - 19%, C-Level - 34%, and Others* - 47%
- By Region: Asia Pacific – 31%, North America - 22%, Europe - 38%, and RoW** - 9%
*Others include sales managers, marketing managers, and product managers.
**RoW includes South America, Africa, and the Middle East.
The report segments the frozen bakery products market on the basis of type, specialty type, distribution channel, form of consumption, and region. In terms of insights, this report has focused on various levels of analyses?the competitive landscape, end-use analysis, and company profiles, which together comprise and discuss views on the emerging & high-growth segments of the global frozen bakery products, high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges.
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