State of the Industry 2018: Bakery category fluxes frozen benefits
Time circuits are on. Flux capacitor is fluxing. Engine is running. It’s go time.
Well, for the frozen bakery segment at least.
That’s because the frozen bakery market is anticipated to reach $25 billion by 2024, according to new research by Global Market Insights, Inc., Shelbyville, Del.
Factors such as hectic lifestyles and the need for easily consumable products in emerging economies continue to fuel the frozen bakery market. Further, product innovation and advancement in techniques, including hydrocolloids, enzymes and sourdough fermentation improve quality of these goods.
Frozen cakes and pastries are expected to dominate the product market from 2017-2024. Increase in import and exports of these products in regions such as Europe and North America will complement its growing market share worldwide. Additionally, cakes and pastries with low-protein wheat and higher gluten-starch ratio have witnessed popularity, and will contribute significantly to the industry.
Another trend impacting the frozen bakery sector is pizza crust. Whether it’s cauliflower-laden crust or the traditional thin crust kind, the global frozen pizza market is projected to reach $17,296 million by 2023, registering a CAGR of 6.4% from 2017 to 2023, according to a report published by Allied Market Research, UK.
In 2016, the regular thin crust segment accounted for approximately three-fifths of the share in the global market, in terms of value, says the report. Frozen pizzas are trending toward thin crusts, owing to its reduced calories and health association as compared to other stuffed and deep-dish frozen pizzas.