The global frozen bakery products market is estimated to grow at a substantial CAGR in the forecast period as the scope, product types and its applications increase across the globe, according to research presented by Radiant Insights, Inc., San Francisco.
The factors that propel the growth of the frozen bakery products market include surge in demand for suitable food products, drive for consistency, safety and greater taste and surge in the number of bakery industries. On the other hand, there are factors that may hamper the growth of the market, including partly baked frozen bread after re-baking boasts a denser structure, harder crumb and lesser volume than the directly baked bread.
The cakes and pastries segment led the frozen bakery products market in 2016, and is anticipated to maintain its dominance by 2024 owing to surge in imports and exports of frozen cakes and pastries from leading regions.
The retail segment led the market in 2016, and is anticipated to maintain its dominance by 2025 due to inclination and capability of customers to spend and try new products and change consumption patterns.
Asia-Pacific accounted for the major share of the frozen bakery products market size in 2016, and will continue to lead in the forecast period due to growth in developing countries that are accepting ready-to-cook food choices. China is the country to hold the maximum part in the market owing to the changing consumption pattern of consumers and rapid urbanization in this nation.