The Frozen Bakery Products Market was valued at USD 22.3 billion in 2021 to reach USD 29.5 billion by 2026, at a CAGR of 5.8%. Frozen bakery products are increasingly becoming an integral part of the daily diet around the world, particularly in European countries. The busy lifestyle of consumers has contributed to the growth of the bread manufacturing industry to produce new products that could cater to the rise in demand from consumers. The increase in consumption of frozen bakery products in the emerging markets of Asia Pacific and Latin America has also led to a rise in the sales of frozen bakery products. The demand for frozen bakery products in developing regions is driven by the increase in disposable income.
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Frozen bakery products are food products, such as bread, pizza crusts, and cakes & pastries. These products are preserved through the process of freezing and are kept frozen until used for cooking or direct consumption. Freezing is used to preserve the food products for a longer duration by inhibiting the growth of microorganisms. These products have witnessed an increase in shelf life due to the preparation and preservation technique used.
An increase in the consumption of convenience food due to the busy lifestyle which in turn increased the consumption of frozen bakery products. An international survey showed that 87% of consumers purchase frozen bakery products, as they are convenient and easy to prepare. The convenience provided by such frozen bakery products helps consumers who need to quickly prepare baked products. The convenience in the preparation of these food products helps to easily preserve the quality of frozen bread pizza, cakes, and pies in the freezer, as compared to the short life span of fresh bread or patisseries. Moreover, the adoption of various technologies such as individually quick frozen technology and microencapsulation technology to improve the shelf life of frozen food will further boost the frozen bakery products market.
Key players & COVID-19 impact:
The global market for frozen bakery products market is dominated by large-scale players, such as Associated British Foods plc (UK), Aryzta AG (Switzerland), Lantmannen Unibake International (Denmark), Europastry, S.A. (Spain), General Mills, Inc. (US), and Kellogg Company (US). Other players include Premier Foods plc (UK), Vandemoortele NV (Belgium), Conagra Brands, Inc. (US), and Grupo Bimbo S.A.B. de C.V. (Mexico). These companies have significant growth opportunities in emerging markets, such as China, India, Brazil, and South Africa. They are focusing on research & development activities and new product developments and expansions to increase the efficiency and quality of their products in the brewing ingredients market.
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COVID-19 outbreak has boosted the demand of frozen bakery products globally, consumers opting for products that are convenient, healthy, and hygienic. This process has further led to an increase in preference for frozen food products among consumers, as frozen bakery products have started gaining more visibility on the market shelves. The sales of frozen foods, particularly ready-to-bake and ready-to-eat frozen bakery products, have witnessed an increase as consumers rush to stock their pantries. It is expected that the COVID-19 pandemic will increase the consumption of frozen bakery products and other shelf-stable foods that have a longer shelf life. Furthermore, with the shutdown of various foodservice outlets and restaurants across the globe due to the nationwide lockdown, consumers are compelled to cook at home. Hence, consumers are stockpiling food products that can be easily cooked and opt for ready-to-eat foods, such as frozen bread, rolls, buns, with longer shelf life.
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