The global frozen bakery market size is anticipated to reach USD 10.50 billion, by 2025, according to a new report by Million Insights. It is projected to register a CAGR of 4.8% during the forecast period from, 2019 to 2025. Owing to the rapid lifestyle changes along with increasing demand for processed food is a key factor driving the growth of the market. The availability of frozen bakery foods for a longer time with easy storage is expected to increase the demand for the product.
Some of the other factors such as the growing expansion of convenience stores, online, and supermarkets and hypermarkets are driving market growth. For instance, in 2017, these distribution channels contributed to over 60% of total sales from retailing, in Mexico. Furthermore, online channels in North America are also expected to have significant growth over the forecast period.
In 2018, frozen bread held the largest share of 29.11% based on product types segment. It is projected to ascend at a CAGR of 4.5% over the forecast period between, 2019 to 2025. Despite the decline in sales of bread, in U.S. frozen bread has shown significant growth in the recent past. The international population is striving for healthy bakery products which are anticipated to complement the growth of the frozen bakery market.
In 2018, Europe holds the highest market share of more than 34.0% in the global market. This growth is majorly attributed by western European countries such as Germany, France, and the U.K., in 2018, Germany held the largest share of the market and is anticipated to carry on with its dominance between 2019 to 2025. Moreover, the growing business trade movements across the countries for frozen pizza are projected to increase the demand of the market. North America held the second-largest share, which is primarily propelled by the rising demand for processed food with rapid urbanization.
Top players operating in the global market include Kellogg Company; General Mills, Inc.; Cargill Corporation; Custom Foods, Inc.; Flowers Foods; Vandemoortele N.V.; Conagra Brands Inc.; Bridgford Foods Corporation; Europastry; Cole’s Quality Foods Inc.; and Associated British Foods plc; among others.
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Further key findings from the report suggest:
• In 2018, frozen bread accounted for the highest share of 32.5% in the global frozen bakery market.
• Based on the product segment, pizza is expected to expand at a significant CAGR of 6.0% between the forecast period, 2019 to 2025.
• Based on the distribution channel, the online segment is projected to expand at the fastest CAGR of 6.2% during the forecast period.
• APAC is expected to grow at a CAGR of 5.6% from 2019 to 2025, due to the presence of developing countries such as China & India.
Million Insights has segmented the global frozen bakery market on the basis of product type, distribution channel, and region:
Frozen Bakery Product Type Outlook (Revenue, USD Billion, 2015 - 2025)
• Cakes & Pastries
• Doughnuts & Pies
Frozen Bakery Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)
• Supermarkets & Hypermarkets
• Convenience Stores
• Bakery Stores
Frozen Bakery Regional Outlook (Revenue, USD Billion, 2015 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa