Thaw-and-serve, bake-off and portability directly influence the growth of frozen bakery products, according to a study conducted by Markets and Markets, New York. The market for frozen bakery products is projected to reach $21.2 billion by 2020, growing at a CAGR of 8.5% from 2015-2020
Frozen bakery products help in-store bakeries, coffee chains, gas stations and quick-service restaurants offer quick and convenient products with prolonged shelf life despite seasonal variations. However, manufacturers of frozen bakery products face intense competition from inter- and intra-industry peers in sourcing raw material, ultimately restraining the market growth to a significant extent.