The frozen bakery products market is growing in accordance with the advancement of the frozen food industry. The rise in demand for convenience food products is driving sales of the frozen baked goods – especially bread, cake, pastry and pizza crusts.
Recently published data by MarketsandMarkets forecasts that the sales will reach $21.2 billion by 2020, growing at a CAGR of 8.5% over the next four years. Its 157-page report defines and segments key regions of the market including North America, Europe and Asia-Pacific, with analyses and projections of value and volume. It also identifies the driving and restraining factors of the business with analyses of trends, opportunities, restraints, and challenges.
As the global market was last valued at $13 billion, the projected high growth rate corresponds to the increasing demand for “thaw-and-serve” and “bake-off” products that offer convenience to households, retail bakeries, grocery stores and quick-service restaurants. Frozen baked goods allow for short preparation times without requiring pastry chef skills or a specialized oven.
Other benefits include less food wastage as commercial commissaries and retail outlets can bake based on demand, while keeping remaining products frozen and preserved. The wide applicability of these convenience frozen bakery products has led to its propelled growth in the forecast period.
The report includes development strategies and product portfolios of leading companies in the sector such the UK’s Associated British Foods and Premier Foods; Aryzta AG of Switzerland; Lantmannen Unibake International of Denmark; Vandemoortele NV of Belgium; Europastry SA of Spain; Grupo Bimbo S.A.B. de C.V. of Mexico; General Mills, ConAgra Foods and Kellogg Company of the USA. These manufacturers produce frozen baked goods in large volumes for use by foodservice, retail and industrial customers.
For more information about the report, visit the publisher’s website: www.marketsandmarkets.com.
