Frozen Bakery Market worth $32.5 Billion by 2018
The frozen bakery market is estimated to reach $32,505.2 million by 2018, with a CAGR of 7.1% for the forecast period. In 2012, Europe led the frozen bakery market in terms of value, followed by North America and Asia-Pacific.
Frozen Bakery: Market Revenue, By Geography, 2012-2018
Source: Expert Interviews, Government Authorities, Related Associations/Institutes, Related Research Publication, Government Publication, Company Press Release, Company Annual Report, Company Website, Company Publication, and MarketsandMarkets Analysis
Frozen bakery is a growing industry in the food processing sector. There is a huge demand for frozen bakery products, for instance, frozen bread, as fresh bread has a very short life span. A number of chemical and physical changes take place during its storage, deteriorating the freshness and quality of bread.
The frozen bakery market is growing steadily with medium competition. Supermarkets and hypermarkets comprise of a greater percentage than artisan bakers. In recent years, the growth of coffee shop chains selling frozen bakery products has also increased the competition for other bakery outlets. There is an increasing trend towards specialty and continental frozen bakery products. There is a significant increase in the number of outlets with in-store bakeries and also in the demand for frozen bakery snacks such as rolls, teacakes, scones, and so on. The supermarkets have been very successful in capturing a significant share of the frozen bakery market by selling different products made by chief plant bakeries at low prices. They have also introduced in-store bakeries producing specialty baked products. Quality standards have been taken care of by all the players in the frozen bakery industry. Frozen bakery products have grown in popularity due to their ease of preparation and the time and cost savings that they provide to other institutional outlets. Good potential for market growth in some countries and the number of varying products provide tremendous opportunity for the producers to get involved in the frozen bakery market.
In this report, the frozen bakery market is divided into four regions – North America, Europe, Asia-Pacific, and ROW. The European region constitutes the largest market followed by North America, with U.S. commanding the leading share in this industry. Asia-Pacific is estimated to witness the fastest growth in the market. ROW is expected to be the second fastest growing market. Convenience factor is the major reason for the growth of frozen bakery products along with the changing life-style of the population. In terms of the types, frozen pizza crust dominates the market followed by frozen breads. Retail distribution channel is the largest channel opted by the market players.
