Frozen Bakery Products Market to Reach a Valuation of USD 33.3 Billion by 2028, The Insight Partners

Exploring the Growth Trajectory of the Frozen Bakery Products Market

NEW YORK, NEW YORK, UNITED STATES, April 5, 2023 /EINPresswire.com/ -- According to a report, the Frozen Bakery Products Market is set to expand from US$ 25.31 billion in 2021 to US$ 33.3 billion by 2028, growing at a CAGR of 4.0% during the forecast period. The report highlights various factors driving market growth and identifies key players and their developments in the market.

The popularity of frozen bakery products is on the rise due to their ease of preparation and quick cooking time, leading to high demand. Additionally, the shift in consumer preference toward baked goods and processed food products is further driving market growth. Frozen bakery products are gaining acceptance due to their convenience, widespread availability, and affordability. The market is experiencing substantial growth due to the increasing demand from coffee shops, small and large food chains, and supermarkets.

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The rising demand for convenience and processed foods is driving the growth of the frozen bakery products market. Consumers' changing dietary preferences and increasing focus on convenience have led to a firm position for frozen bakery products as a daily staple. Furthermore, with the growth of the food and beverage industry and improving economic conditions, consumers worldwide are moving toward convenience foods. The trend is further fueled by the surge in urbanization, street vending, ready-to-eat, and convenience foods. The market for convenience foods has seen significant growth due to the launch of longer-shelf-life frozen bakery products and the rise in the working population, especially among women. Consumers are increasingly buying and storing frozen bakery items in their busy schedules, making them a popular choice for quick and easy meals. The market's diversification of distribution channels, including retail stores and supermarkets, is further driving market growth. Overall, the demand for frozen bakery products is expected to increase as the demand for convenience foods continues to grow.

Impact of COVID-19 Pandemic on Frozen Bakery Products Market

The COVID-19 outbreak has impacted different industries in different manner. Amid the pandemic, the lockdown imposition is restricting the supply chain of frozen bakery products. The unavailability of raw materials and labor, due to the restrictions on the movement of people, is hindering the production of frozen bakery products. The frozen food industry has seen a steady growth amid pandemic as people are consuming foods that have a longer shelf life. According to the President of American Frozen Food Institute (AFFI), the US based frozen foods players has seen the sales of the frozen food products in the US were increased by 18.2% in 2020, which is approx. US$ 66 billion in sales. According to the AFFI report of November 2020, the decrease in the visits to grocery store and being prepared to avoid food shortages motivated the consumers to buy frozen food products during the pandemic. The frozen food products supply chain has been mostly shifted from foodservice to the retail sector as the demand for frozen foods, such as frozen bakery products, has seen a shift from the foodservice to household consumption. According to AFFI, during COVID-19 outbreak, the consumers shopped online at a record rate where the sales for frozen food, including frozen bakery, witnessed a 75% increase. Thus, the increase in online sales for frozen food has resulted in a positive impact on the frozen bakery products market.

Based on product type, the frozen bakery products market is segmented into breads and rolls, cakes and pastries, cookies and biscuits, and others. The bread and rolls segment accounted for the largest market share in 2020. However, the cookies and biscuits segment are expected to register the highest CAGR in the market during the forecast period. Cookies and biscuits are mostly made from ingredients such as flour, sugar, and oil or fat. There are many extra fixings in biscuits and cookies such as chocolate, oats, raisins, almond, cashews, and pistachio. The baked cookies are frozen in a single layer or a sheet pan. Once the individual cookies are frozen, they can be stored in a flat-bottomed airtight container. The layers are separated by a parchment or waxed paper to avoid the sticking of cookies to each other. The cookie dough is frozen depending upon the source of the dough, as well as the ingredients used in it.

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Based on category, the frozen bakery products market is bifurcated into gluten-free and conventional. The conventional segment accounted for a larger market share in 2020, whereas the gluten-free segment is expected to register a higher CAGR in the market during the forecast period. Gluten is a protein found in wheat flour and is mostly used for making bakery food items. Gluten has a glue-like property that forms a sticky network and gives the breads ability to rise when they are baked. Many of the consumers feel uncomfortable after eating frozen bakery products containing gluten. Gluten-free frozen bakery products do not contain any gluten. The frozen bakery product manufacturers use ingredients such as xanthan gum or guar gum to make the dough or batter rise. The awareness among the consumers about gluten causing celiac disease and other digestive health issues is motivating the consumers to shift to gluten-free dietary lifestyles.

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.; and Bridgford Foods Corporation are among the well-established players operating in the frozen bakery products market.

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