Frozen Bakery Market Worth $32.5B by 2018
Frozen bakery is a growing industry in the food processing sector. Consumer spending habits prove a huge demand for frozen bakery products, for instance, frozen bread, as fresh bread maintains a very short life span.
So, it’s no surprise then that the frozen bakery market is estimated to reach $32,505.2 million by 2018, with a CAGR of 7.1% for the forecast period, according to "Frozen Bakery Market by Types (Frozen Breads, Frozen Pizza Crust, Frozen Pastries, Frozen Cakes, Other Frozen Bakery Products), Distribution Channels (Artisan Bakers, Retail, Catering & Industrial, Others Distribution Channel) & Geography - Global Trends & Forecasts to 2018."
This report, conducted by Markets and Markets, defines and segments the frozen bakery market with an analysis and forecasting of the global market size in terms of revenue. It also identifies the driving and restraining factors with an analysis of trends, opportunities, burning issues, winning imperatives and challenges. The market is segmented and revenue is forecasted based on significant regions such as North America, Europe, Asia-Pacific (APAC) and Rest of the World (ROW).
The frozen bakery market is growing steadily with medium competition. Here’s a breakdown of some frozen bakery trends:
• Supermarkets and hypermarkets comprise of a greater percentage than artisan bakers.
• In recent years, the growth of coffee shop chains selling frozen bakery products increased the competition for other bakery outlets.
• There is an increasing trend toward specialty and continental frozen bakery products.
• There is a significant increase in the number of outlets with in-store bakeries and a greater demand for frozen bakery snacks such as rolls, teacakes, scones, and so on.
• Supermarkets have been successful in capturing a significant share of the frozen bakery market by selling different products made by chief plant bakeries at low prices. They have also introduced in-store bakeries producing specialty baked products.
• Frozen bakery products have grown in popularity due to their ease of preparation and the time and cost savings that they provide to other institutional outlets.
• Frozen pizza crust dominates the market followed by frozen breads.
In 2012, the study says Europe led the frozen bakery market in terms of value, followed by North America and Asia-Pacific. However, Asia-Pacific is estimated to witness the fastest growth in the market, with ROW being the second fastest growing market. Convenience factor is the major reason for the growth of frozen bakery products along with the changing lifestyle of the population. Retail distribution channel is the largest channel opted by the market players.