The global frozen bakery products market is expected to witness sluggish growth, registering 3.1% CAGR between 2017-2022, according to the latest report by Fact.MR, Rockville, Md.
Asia Pacific Excluding Japan (APEJ) is expected to remain dominant in the global frozen bakery market, which is expected to create an incremental opportunity of over $1,000 million between 2017-2022.
Frozen bakery products market in Japan is anticipated to grow at a faster phase compared to the developed regions such as Europe and North America.
Pizza crust is expected to reach nearly $4,500 million in revenue by the end of 2022. Meanwhile, frozen bread is anticipated to be the second largest revenue-generating product.
Compared to various sales channels in frozen bakery products, modern trade is anticipated to be the largest sales channel. Toward the end of 2017, the modern trade sales channel is expected to account for nearly one-third of the revenue share. Meanwhile, sales of frozen bakery products will be the lowest through convenience stores.
Fresh frozen bakery products are expected to reach nearly $14,800 million revenues by the end of 2022, and are projected to account for nearly two-thirds revenue share by the end of 2017.