The global frozen bakery products market stands at US$ 31.78 billion in 2023 and is forecasted to reach a valuation of US$ 58.55 billion by the end of 2033. The market is predicted to expand at a CAGR of 6.3% from 2023 to 2033, according to a detailed study by Fact.MR, a market research and competitive intelligence provider.
The growing number of working professionals and the popularity of convenience foods are expected to fuel the market for frozen bakery items. The frozen bakery sector includes well-established in-store bakeries, coffeehouse chains, restaurants, and quick-service cafes. When customers are seeking for quick, delectable, on-the-go snacks, they have two options: fresh and frozen baked goods. Due to consumers’ increased preference for on-the-go snacking, there is an increase in the demand for frozen bakery goods.
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Forecast Highlights on Global Frozen Bakery Products Market:
1- Asia Pacific Excluding Japan (APEJ) is expected to remain dominant in the global frozen bakery products market. The market is expected to create an incremental opportunity of over US$ 1,000 million between 2017 and 2022.
2- 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.
3- Pizza crust as a product is expected to reach nearly US$ 4,500 million revenues by the end of 2022. Owing to the consumption habits in developed countries, the pizza crust is witnessing a growth in the market. Meanwhile, bread as a frozen bakery product is anticipated to the second largest product.
4– The market in China is anticipated to expand at a steady CAGR of 6.1% and reach US$ 13.11 billion by the end of 2033.
5- The market in the United Kingdom is projected to reach US$ 6.09 billion by 2033, expanding at a moderate CAGR of 5.8%.
The market is characterized by high fragmentation, with a mix of international and regional competitors. Major players in the market are focusing on providing consumers with unique and exotic flavors while ensuring convenient packaging and consumption.
Mergers and acquisitions are a key strategy for these players, allowing them to establish and maintain a dominant position in the market. By leveraging their strong market presence, these companies can effectively compete with other participants in the industry.
- In February 2022, Baker & Baker introduced its first line of vegan items. The products included biscuits, donuts, and cupcakes. The items have an expiry date ranging from 2 to 5 days and are served or baked directly from their frozen state.
Key Segments of Frozen Bakery Products Industry Research:
· By Product Type :
- Pound Cakes
- Pizza Crusts
· By Sales Channel :
- Modern Trade
- Convenience Stores
- Traditional Grocery Stores
- Online Channels
- Direct Sales
· By Region :
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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Questionnaire answered in the Market outlook Report of Frozen Bakery Products include:
- What is the key strategy deployed by large players to maximize Frozen Bakery Products Market growth?
- What are the main challenges faced by players in the Frozen Bakery Products market Demand?
- With the advent of technological advancement, how will the Frozen Bakery Products market landscape change over the forecast period?
- What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Frozen Bakery Products market size?
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