Frozen Bakery Products Market is Prospering Owing to the Rising Increasing Consumer Preference Toward Convenience Foods all over the world
- September 25, 2021
- CONSUMER GOODS, NEWS
- Frozen Bakery Products Market, Frozen Bakery Products Market news
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The global Frozen Bakery Products Market is expected to exceed the market valuation of more than US$ xx million by 2027 expanding at a reasonable CAGR of xx% during the forecast period (2021-2027). Frozen Bakery Products like Bread, Pizza Crusts, and Cakes & Pastries are mostly obtained from wheat, rice, and barley. Frozen bakery products are progressively becoming an important part of the daily diet, particularly in Europe and North America
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The demand for frozen bakery products is increasing in developing regions owing to the increase in disposable income. Moreover, the increasing consumer preference toward convenience foods, easy availability of frozen bakery products, and improving economic conditions. In addition, the increase in rural-urban migration has led to an increase in street vending, ready-to-eat, and convenience foods. Furthermore, the diversification of distribution channels, introduction of frozen bakery products having a longer shelf life, an increase in the working population, and busy lifestyle is also deriving the market growth.
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Based on Type, the market is fragmented into Bread, Pizza Crusts, and Cakes & Pastries. The bread segment holds the largest share in 2020 due to the rise in its demand in the France, UK, Italy, and Germany region. The rise in wheat production in the recent few years is further intensifying the segment growth. According to the OECD‑FAO Agricultural Outlook (2020‑2029) report, Global wheat production is expected to reach 839 Mt by 2029, growing at a more moderate pace compared to the last decade. The Pizza Crusts segment is expected to register the highest CAGR in the upcoming period due to the increase in its demand in commercial as well as retail stores.
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Based on Distribution Channel, the market is fragmented into Conventional Stores and Specialty Stores. The Conventional stores segment holds the largest share in 2020 and is expected to register the highest CAGR in the upcoming period due to the rising number of Conventional stores. For instance, as per the latest NACS/Nielsen Convenience Industry Store Count (2020), there are 150,274 convenience stores in the U.S. Region.
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For a better understanding of the market adoption of Frozen Bakery Products, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America will dominate the Frozen Bakery Products market on account of the busy lifestyle and rise in the number of convenience stores. The rising disposable income is leading to high purchasing power which is further intensifying the Frozen Bakery Products Market. Some of the major players operating in the market include Dawn Food Products, Inc., Europastry, S.A, Lantmannen Unibake., Grupo Bimbo, S.A.B. Dec.V, Aryzta Ag, General Mills, Inc., Cole’s Quality Foods Inc., Conagra Brands, Inc., Bridgford Foods Corporation. Several M&As along with partnerships have been undertaken by these players to boost their presence in different regions.
Global Frozen Bakery Products Market Segmentation
Market Insight, by Type
- Pizza Crusts
- Cakes & Pastries
Market Insight, by Distribution Channel
- Conventional Stores
- Specialty Stores
Market Insight, by Form of Consumption
Market Insight, by Region
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
- Associated British Foods PLC
- Dawn Food Products, Inc.
- Europastry, S.A
- Lantmannen Unibake.
- Grupo Bimbo
- S.A.B. Dec.V
- Aryzta Ag
- General Mills, Inc.
- Cole’s Quality Foods Inc.
- Conagra Brands, Inc.