Pizza crust is expected to reach nearly $4,500 million in revenue by the end of 2022, with frozen bread being the second largest revenue-generating product.

The International Baking Industry Exposition (IBIE), produced by the American Bakers Association (ABA), Washington, D.C., the Baking Equipment Manufacturers and Allied (BEMA), Overland Park, Kan., and the Retail Bakers of America (RBA), Tinley Park, Ill., announced an exclusive global marketing partnership with iba, Germany, organized by GHM on behalf of the German Bakers’ Confederation.

IFF will provide the industry with a platform to exchange information, share best practices, expand business networks and learn the latest in formulation advances and regulatory requirements.

Estimates depict that the frozen bakery industry will surpass a revenue of $25 billion by the end of 2024, with 8.8% CAGR projection over 2017-2024.

Valley Cooperative Association members consist of bakers, millers and allied companies.

The growing foodservice market, including ready-to-bake and ready-to-thaw frozen baked goods, continues to encourage increasing consumer demand for frozen bakery market.

Plain and filled croissants are anticipated to be the fastest-growing among Viennoiserie products over the predicted period.

In terms of volume, the bread segment will account for more than 63% of the overall LATAM frozen bakery market by 2024.

The retail segment led the market in 2016, and is anticipated to maintain its dominance by 2025.

Frozen foods have been gaining renewed popularity over the last two decades, subject to high demand for rising food durability.