Frozen Bakery Products Market to Discern Steadfast Expansion During 2017 to 2022
According to the latest report by Fact.MR, the global frozen bakery products market is expected to witness sluggish growth, registering 3.1% CAGR between 2017 and 2022.
[UKPRwire, Sat Apr 13 2019] Frozen bakery products include cakes, pancakes, doughnuts, etc. these products have a very limited shelf-life, hence are not purchased in a large quantity by customers. Storage of frozen bakery products at a proper temperature is necessary to ensure safety and to reduce wastage.
A well-balanced diet depends on various types of food consumed. Bakery products available in sweet, unsweetened and filled format also forms an important part of the well-balanced diet. However, the frozen bakery products including cakes, pastries, cookies, pancakes, bread, muffins, etc., have a very limited shelf-life and are prone to microbiological spoilage by molds, yeast, and bacteria. Hence, people like to have it fresh or buy it in a very less quantity. Meanwhile, rising health concerns, increasing obese population and rising problem of childhood obesity are some of the factors hampering the growth of frozen bakery products across the globe.
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However, baking establishments are focusing on offering more healthy products by including natural sweeteners, organic products. Most of the bakery product manufacturers have also started offering fat-free and cholesterol-free frozen bakery products.
According to a study by Fact.MR, the global frozen bakery products market is projected to bring in US$ 21,891.6 million revenues by the end of 2022. The market is anticipated to witness sluggish growth. Increasing number of people becoming health conscious are moving towards more healthy options such as fruits and vegetables.
Pizza Crust – Top-Selling Product
The pizza crust is anticipated to be one of the top selling products in the global frozen bakery products market during 2017-2022. Sales of pizza crust are expected to bring in nearly US$ 4,500 million revenues by 2022 end. Although bread as a frozen bakery product is projected to create an incremental opportunity of over US$ 600 million during the forecast period.
High Sales through Modern Trade
Accounting for more than one-fourth of the revenue share, modern trade is anticipated to emerge as one of the most lucrative sales channels. Towards the end of 2022, modern trade is expected to reach close to US$ 6,900 million revenues. Meanwhile, direct sales channel is projected to be the second biggest sales channel for frozen bakery products.
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Fresh Frozen Bakery Products to Account for Maximum Revenue Share
Pre-packed baked frozen bakery products, the fresh frozen bakery products will gain nearly two-third of the revenue share by the end of 2017. By 2022 end, the sales of fresh bakery products will reach nearly US$ 14,800 million revenue. Increasing customer preference for freshly baked products is driving the demand for fresh frozen bakery products. While the pre-packed baked frozen bakery products are expected to account for more than one-fourth of the revenue share by the end of 2017.
The report also profiles companies that are expected to remain active in the expansion of global frozen bakery products market through 2022, which include Cole’s Quality Foods, Inc., General Mills, Inc., Flowers Foods, Europastry, S.A., Barilla Holdings Spa, General Waffel Manufactory, Vandemoortele NV, American Desserts, Associated British Foods plc, Bridgford Foods Corporation, Premier Foods plc, Cargill Incorporated, Conagra Brands, Inc., Alpha Baking Company Inc., Kellogg Company, Europastry, S.A., Lantmannen Unibake International, General Mills Inc., Grupo Bimbo S.A.B. de C.V., and Aryzta AG.
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