According to a report published by Market Data Forecast, the market for frozen bakery products is estimated at $15.46 billion in 2016. Further, estimating the impact of factors such as, increase in consumer preference for convenience or ready to eat foods, the upsurge in number of quick-serve restaurants and food chains, predicting the change in consumer lifestyles and consumption trends in different regions, and availability of proper distribution channels like cold chain logistics
The analysts at Market Data Forecast have predicted a growth of 8.18% over the next five years to reach a market value of $22.91 billion market. And even the negative aspects like presence of substitute products (fresh baked products), high cost of packaging and transportation have also been considered while predicting the market trends.
To understand and analyze the industry on a granular level, the market has been segmented on the basis of type and distribution channel. And also, the market has been segmented on the basis of geography, to get an idea on country-level trends and consumer preferences.
Learn more about the report.