Frozen Bakery Market – Overview:
The demand for bakery products globally is high as they are popular accompaniments to most traditional cuisines and also provide a source for roughage and energy. Reports that review the food, beverage and nutrition industry has been offered by Market Research Future, which generates reports on industry verticals that evaluate the market development and opportunities.
The Frozen Bakery Market is estimated to capture USD 31.23 billion in incomes by the year 2030 while advancing at a CAGR of 7.40 % in the forecast period.
The fast-paced lifestyle in metros is a key factor that is found to be encouraging the development of the frozen bakery market globally. Moreover, factors such as requirement for longer shelf-life of bakery products and elevated demand for convenience food products are expected to shape the development of the market in the forecast period.
Segmental Analysis:
The segmentation analysis of the frozen bakery market is carried out on the basis of packaging, type, application and region. Based on the type, the frozen bakery market is segmented into rolls buns, pies tarts, bread, cakes cupcakes, cookies doughnuts, muffins cupcakes, sandwiches wraps, others. The breads segment is expected to witness a top growth rate in the forecast period. By 2023, the bread based frozen bakery will achieve a market worth of over USD 6,000 Million on a worldwide level. Based on the packaging, the frozen bakery market is segmented into temperature-proof, odor-proof, moisture-vapor-proof among others. The temperature-proof packaging type of frozen bakery will control the packaging type segment in the frozen bakery market and is estimated to develop at a rate of 7.11 % for the duration of the forecast period. The application basis of segmenting the frozen bakery market is carried out on the basis of appetizers, cake batter, pizza base, burger buns, snack foods, sandwich slices, breakfast foods, confectionery, desserts and others. Among the segments, the pizza based application of frozen bakery will carry on to govern the frozen bakery market holding a chief share of 17 %. Based on the regions, the frozen bakery market covers Europe, Asia Pacific, North America, and ROW.
Detailed Regional Analysis:
The regional study of the frozen bakery market comprises of regions such as Europe, Asia Pacific, North America, and ROW. The European region is projected to govern the frozen bakery market globally by holding a majority share of more than 30% accounting for a market quantity valued at more than USD 7,000 million. The North American region will observe the maximum development rate of 7.62% in the frozen bakery market while Asia Pacific region and the rest of the world will observe a reasonable growth rate.
Competitive Analysis:
The level of competitiveness of the environment in the market is expected to be reasonable as there is ample scope for progress. The market is anticipated to display positive signs for market growth in the approaching period. The demographic changes are expected to show a positive effect on the progress of the market. The surge in e-commerce activities is expected to motivate the market in the upcoming years. The fiscal policies that are in effect in the market are expected to lead to a robust pace of development. The leverage created by the companies by deploying marketing strategies and activities is further enhancing the expansion of the market. The enhancement of production facilities is expected to motivate the market’s progress. The trade liberalization in the market and technological developments are expected to encourage the development of the market in the approaching years.
The global Key Frozen Bakery Market Players are Grupo Bimbo SAB de CV (Mexico), Vandemoortele Bakery Products (France), Arista AG (U.S.), Flowers Foods, Inc. (U.S.), LantmannenUnibake, USA, Inc (Denmark), Rich Products (U.S.), Europastry Sa (Spain) and General Mills, Inc. (U.S.) to name a few.
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