The report "Frozen Bakery Products Market by Type (Breads, Pizza Crusts, Cakes & Pastries), Distribution Channel (Artisan Bakers, Retail, Catering & Industrial), and Technology (Raw Products, Ready-to-Bake, Ready Baked & Frozen) - Global Forecast to 2022", published by MarketsandMarkets, the market is projected to reach a value of USD 23.48 Billion by 2022 at a CAGR of 7.9% from 2016.
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Increase in demand for convenient food products and drive for greater taste, safety, and consistency are the major factors driving the global frozen bakery products market. The high growth potential in emerging markets such as India and China, and untapped regions provide new growth opportunities for the players in the frozen bakery products market.
Cakes & pastries projected to be the fastest-growing segment, by type, from 2016 to 2022
The cakes & pastries segment is projected to grow at the highest CAGR from 2016 to 2022. Increase in exports and imports of frozen cakes & pastries from dominant regions, such as North America and Europe, are the factors behind its continuously increasing market share in other parts of the world. In addition, specialty cakes & pastries with high starch-gluten ratio and low-protein wheat are gaining huge popularity, and are expected to contribute a commendable market revenue in 2022.
Retail distribution channel segment expected to continue its dominance over the forecast period and to grow at a considerable CAGR between 2016 and 2022
Retail is the most effective media of targeting the maximum number of customers possible, and currently holds the largest market share of the frozen bakery products market. Changing consumption patterns, willingness and ability of customers to spend and try new products are the key factors driving the growth of the retail channel. Moreover, the increasing number of super markets and hyper markets is moderately replacing fresh bread products made by chain bakeries and artisan bakers.
Asia-Pacific expected to show growth potential in the frozen bakery products market
There is a high-growth potential for frozen bakery products in the Asia-Pacific region where the emerging economies, such as China and India, are located. The emerging economies have considerable potential customers that are adopting the ready-to-cook and more convenient food options. China, in particular, is the largest country to hold the maximum share in the Frozen Bakery Products Market due to the rapid urbanization and changing consumption pattern of consumers in this country.
This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. The leading companies in the global Frozen Bakery Products Market include Grupo Bimbo S.A.B. de C.V. (Mexico), Aryzta AG (Switzerland), Lantmannen Unibake International (Denmark), Europastry, S.A. (Spain), General Mills Inc. (US), and Kellogg Company (US). Other players include Conagra Brands, Inc. (US), Premier Foods plc (U.K.), Associated British Foods plc (U.K.), and Vandemoortele NV (Belgium).
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