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Frozen Bakery Products Market Investment Activity from Established Companies Are to Create Attractive Opportunity for New Comers

the market is expected to grow from US$ 25.31 billion in 2021 to US$ 33.3 billion by 2028; it is expected to grow at a CAGR of 4.0% from 2021 to 2028.


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Shahbaz Syed

2 years ago | 3 min read

According to our latest market study on “Frozen Bakery Products
Market
Forecast to 2028 – COVID-19 Impact and Global
Analysis – by Product Type (Breads and Rolls, Cakes and Pastries, Cookies and
Biscuits, and Others), Category (Gluten-free and Conventional), and End User
(Foodservice and Food Retail),” the market is expected to grow from US$ 25.31
billion in 2021 to US$ 33.3 billion by 2028; it is expected to grow at a
CAGR of 4.0% from 2021 to 2028. The report highlights key factors driving the
market growth and prominent players along with their developments in the market.

Frozen bakery products witness high demand as people prefer
ready-to-bake products because they are easy to prepare and can be prepared
quickly. In addition, a significant increase in demand for processed food
products due to a shift in consumer preference for baked products drives the
growth of the frozen bakery products market. The acceptance of frozen bakery
products is increasing due to factors such as convenience, preparation speed,
easy product availability, and low costs. The growth of the market is also
attributed to the surging demand from coffee shops and small and large-scale
food chains.

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The demand for frozen bakery products is surging owing to rising
consumer preference toward processed or convenience foods. In addition, the
easy availability of frozen bakery products has influenced the buying pattern
for the shoppers who are concerned with the dietary merchandise and rendered a
firm place to the frozen bakery products in the list of daily consumables.
Moreover, due to the growing food & beverages industry and improving
economic conditions, consumers in developed and developing regions worldwide
are moving toward convenience foods. The rural–urban migration has also
increased in developing countries, which has led to an increase in street
vending, ready-to-eat, and convenience foods. As a result, there has been a
notable rise in the consumption of ready-to-eat foods, which has resulted in a
significant increase in the market for convenience foods. Further, frozen
bakery products have also found a shelf in retail stores and supermarkets due
to the diversification of distribution channels. In addition, other factors
driving the demand for convenience foods include change in working demographics
and a busy lifestyle. Therefore, the demand for frozen bakery products is
expected to increase in response to the growing demand for convenience foods.
The demand for convenience food is being fueled by the launch of
longer-shelf-life frozen bakery products and an increase in the working
population across the globe, along with a rise in the female workforce.
Consumers buy and store frozen bakery items in their busy schedules and consume
them as required.

Dawn Food Products, Inc.; Europastry, S.A; Lantmannen Unibake.; Grupo
Bimbo; S.A.B. Dec.V; Aryzta Ag; General Mills, Inc.; Cole's Quality Foods Inc.;
Conagra Brands, Inc.; and Bridgford Foods Corporation are among the
well-established players operating in the frozen bakery products market.

Impact of COVID-19 Pandemic on Frozen Bakery Products Market

The COVID-19 outbreak has impacted different industries in different
manner. Amid the pandemic, the lockdown imposition is restricting the supply
chain of frozen bakery products. The unavailability of raw materials and labor,
due to the restrictions on the movement of people, is hindering the production
of frozen bakery products. The frozen food industry has seen a steady growth
amid pandemic as people are consuming foods that have a longer shelf life.
According to the President of American Frozen Food Institute (AFFI), the US
based frozen foods players has seen the sales of the frozen food products in
the US were increased by 18.2% in 2020, which is approx. US$ 66 billion in
sales. According to the AFFI report of November 2020, the decrease in the
visits to grocery store and being prepared to avoid food shortages motivated
the consumers to buy frozen food products during the pandemic. The frozen food
products supply chain has been mostly shifted from foodservice to the retail
sector as the demand for frozen foods, such as frozen bakery products, has seen
a shift from the foodservice to household consumption. According to AFFI,
during COVID-19 outbreak, the consumers shopped online at a record rate where
the sales for frozen food, including frozen bakery, witnessed a 75% increase.
Thus, the increase in online sales for frozen food has resulted in a positive
impact on the frozen bakery products market.

About Us:

The Insight Partners is a one stop industry research
provider of actionable intelligence. We help our clients in getting solutions
to their research requirements through our syndicated and consulting research
services. We specialize in industries such as Semiconductor and Electronics,
Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare
IT, Manufacturing and Construction, Medical Device, Technology, Media and
Telecommunications, Chemicals and Materials.

Contact Us:

If you have any queries about this report or if you would
like further information, please contact us:

Contact Person: Sameer Joshi

E-mail: sales@theinsightpartners.com

Phone: +1-646-491-9876

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