According to Fact.MR, the global market for frozen bakery products will reach US$ 51.6 Bn by 2031, with a solid CAGR of 6.3%. Sales of frozen bread items are being driven by people’s rising propensity for fast food and hectic lifestyles.
By the end of the aforementioned period, between 2016 and 2020, sales of frozen bakery goods had historically reached US$ 27 Bn. Global travel was impeded when the COVID-19 outbreak started. The retail chains consequently closed as well. However, despite the availability of internet purchasing, frozen bread product sales did not experience a significant decline. The establishment of supermarkets and hypermarkets is anticipated to boost sales of frozen baked goods.
People now face increasing risks of developing a number of chronic illnesses as a result of growing health issues. As a result, producers of frozen baked goods provide fat- and gluten-free healthy substitutes. In turn, this has had a favourable impact on frozen bakery product sales. The market is anticipated to reach US$ 29 billion in value by 2022.
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Key Segments Covered
- Frozen Bread
- Frozen Rolls
- Frozen Pancakes
- Frozen Muffins
- Frozen Pound Cakes
- Frozen Pizza Crust
- Frozen Donuts
- Frozen Pastries
- Frozen Bakery Product Sales via Modern Trade
- Frozen Bakery Product Sales via Traditional Grocery Stores
- Frozen Bakery Product Sales via Convenience Stores
- Frozen Bakery Product Sales via Online Channels
- Frozen Bakery Product Sales via Direct Sales
- Frozen Bakery Product Sales via Other Retail Formats
- Fresh Frozen Bakery Products
- Pre-Packed Frozen Baked Products
- Pre-Packed Frozen Part-Baked Products
Key Takeaways from the Market Study
- By product category, frozen bread is predicted to generate additional opportunity worth US$ 600 Mn by 2022 and have over 35%
- sales by 2031. Pizza crust is anticipated to have a 6% CAGR by that time.
- By 2031, Asia will account for 60% of global sales of frozen bread items.
- From 2021 to 2031, Europe will sell 2/5 of all frozen bread items.
- By 2031, sales of fresh frozen bakery goods will exceed US$ 15 billion, accounting for 66% of the market.
Key companies operating in frozen bakery products include Cole’s Quality Foods Inc., General Mills Inc., Flowers Foods, Europastry, S.A., Barilla Holdings Spa, General Waffel Manufactory, Vandemoortele NV and American Desserts among others.
- Flowers Foods purchased the assets of the Burlington, Vermont-based Koffee Kup Bakery Inc. in June 2021. The company anticipates that the acquisition will accelerate market expansion in North East America. The deal also includes the Koffee Kup Bakery and Vermont Bread Company brands, as well as three shuttered bakeries in North Grosvenor Dale, Connecticut, and Burlington, Vermont.
- Six new baked items were added to General Mills Inc.’s Pillsbury brand portfolio in May 2021. These consist of the Pillsbury Birthday Cake Dough Poppins, Pillsbury Chocolate Chip Cookie Dough Poppins, Pillsbury Money Bread Pull-Apart Kit, Pillsbury Garlic Bread Pull-Part Kit, and Pillsbury Mini Cinni Stix.