The global frozen bakery market size is expected to
reach USD 10.50 billion by 2025. It is anticipated to register a CAGR of 4.8%
during the forecast period. Increasing demand for processed food owing to the
fast-paced lifestyle is the major driving factor for the growth. Availability
of foods with longer perishability and easy storage is also expected to drive
the product demand in near future.
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Expansion of distribution channels such as
supermarkets and hypermarkets, convenience stores, and online grocery and
bakery chains are some of the other driving factors for the market. For
instance, in Mexico, these distribution channels contributed to more than 60%
retail sales for bakery products in 2017. Convenience stores and supermarkets
and hypermarket retailers are the commonly preferred sales medium in Mexico.
This scenario is also expected to boost the market growth over the next few
years.
Among various product types, frozen bread accounted
for the largest market share of about 29.11% in 2018 and is expected to expand
at a CAGR of 4.5% during the forecast period. Despite the dip in the sales of
bread, frozen bread market in the U.S. witnessed a significant demand over the
past few years. Increasing international population seeking healthy bakery
products is expected to support the market growth.
Europe held the largest market share of about 34.5%
in 2018. The major countries contributing to the growth include Germany, U.K.,
and France. Germany held the largest share of the frozen bakery market in 2018
and is expected to continue its dominance in Europe during the forecast period.
Increasing trade activities of frozen pizza products is expected to contribute
to the growth. North America was estimated to hold the second largest revenue
share, primarily driven by the significant demand for processed food products
as a result of busy lifestyles.
Some of the key players operating in the global
market include, Kellogg Company; Cargill Corporation; Conagra Brands Inc.;
Custom Foods, Inc.; Vandemoortele N.V.; Bridgford Foods Corporation; Associated
British Foods plc; General Mills, Inc.; Europastry; Cole's Quality Foods Inc.;
and Flowers Foods; among others.
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Further
key findings from the report suggest:
• Frozen bread was estimated to account for the
highest revenue share of about 32.5% in 2018
• Frozen cakes and pastries and pizza are expected
to witness significant CAGR of 5.1% and 6.0% respectively, during the forecast
period
• Supermarkets and hypermarkets accounted for a
revenue share of more than 55% in 2018, thereby having a value worth USD 4.39
billion in 2018
• Online distribution channel of frozen bakery
market is expected to register the fastest CAGR of 6.2% from 2019 to 2025
• Asia Pacific is expected to expand at a CAGR of
5.6% from 2018 to 2025, owing to developing economies, significant influence of
western culture in terms of living standards and food patterns, and rising
disposable income
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Michelle Thoras
201 Spear Street 1100,
Suite 3036, San Francisco,
CA 94105, United States
Tel: 1-415-349-0054
Toll Free: 1-888-928-9744
Mail: sales@radiantinsights.com
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