The global industry has been on a higher growth trajectory for the last few years. The growth is largely fuelled by hectic schedules and rising awareness of nutritional facts amongst people. The market has grown considerably in recent times and is expected to continue its growth in the future.
For instance, bread is considered as one of the leading staple food worldwide. Factors such as availability of a variety of bakery products and quality demand of buyers have encouraged quite a few leading frozen bakery product suppliers to expand their chain across the world. There has been a considerable rise in the number of over-the-counter and retail bakeries. Better value for money and new gender behaviour are a few of the other reasons for the increase in consumption of products.
The world is witnessing an increase in the number of bakery businesses, with consumers opting for the more reasonably priced frozen bakery products to other baked fast foods. The segment is anticipated to show robust growth in North America and Europe. Consumers are also benefited with the purchase of frozen bakery, as it is easy for them to keep it for a longer period of time. The growth of this market segment banks on consumer preference for a convenient alternative to freshly baked products. This growth will be maintained in the future with an opportunity to produce new specialty bakery with plenty of innovation for health-conscious consumers.
Frozen bakery makes up a significant portion of the global food processing market. The bakery trade is one of the most profitable fields and most bakeries have good return on capital. This industry maintains the characteristics of a stable and robust sector throughout the world. This category also includes those frozen baked products which are used in the manufacturing of other items or used in institutional food services, such as pizza crusts.
The global market accounts for almost 8% of the total frozen food market and it is progressing towards more diversified operations that offer more healthy and sophisticated products. People are becoming more health-conscious, which is increasing the demand for healthy ingredients. These premium priced ingredients are expected to increase the market value of the frozen bakery sector over the next several years.
The new report fromResearch & Market categorizes the global market for products based on types, distribution channels, and geography. It estimates demand for global as well as different regional markets. Market revenues have also been identified for all regional markets and segmented based on product types and distribution channels.
This report provides a comprehensive analysis of the market, which is witnessing steady growth because of its diverse product portfolio. Frozen pizza crust comprises of important share of 32.2% of the total market. Frozen breads hold almost 25.5% of the total market followed by frozen pastries with 15.5% share. Europe forms the largest segment of the market in 2012. It is poised to grow at a steady CAGR of 6.9% over the forecast period.
This report also describes the market across the globe. The regions covered include North America (U.S., Canada, and Mexico), Europe (U.K., Germany, France, Italy, Spain, Russia, etc.), Asia-Pacific (China, Japan, Australia, etc.), and Rest of the World (Brazil, South Africa, etc.).
Europe is the largest market for frozen bakery and it is estimated to grow at a CAGR of 6.9% from 2013 to 2018, followed by North America which is estimated to be the second largest market due to increase in demand for processed food and busy life-styles of the population. Asia-Pacific is projected to gain the fastest growth of 7.7% during the concerned period. In the Asia-Pacific region, the people are introduced with frozen bakery in recent years, so the growth rate in this region would be the highest. Good quality products containing nutrients are making foray in a big way with the growing food processing industry in this region.
The growth strategies of the market players have been identified and analysed. The manufacturers are keenly aware of the emerging Asian, Latin American, and Eastern European markets as potential drivers of the business. The market is predicted to continue flourishing in both developed and developing regions.
The growth is also attributed to the growing demands for healthy and nutritious products and increase in the demand for processed food. U.S. is one of the largest players in the frozen bakery business.