Global Market for Frozen Bakery Products is Projected to Grow at Competitive CAGRs of 8.5%

Date: 2015-09-10

“With the rising demand for fresh baked products from quality-conscious consumers, frozen bakery manufacturers have a great opportunity to improve profits by providing retailers with a diverse selection of ready-to-bake or ready-to-thaw frozen products. These products have prolonged shelf life and considered to have locked up freshness, which can be retrieved using “thaw-and-serve” and “bake-off” processes. With thaw-and-serve and bake-off products, retail in-store bakeries, grocery stores, cafes, and quick serve restaurants can offer customers various freshly baked products saving their time, efforts, and raw material wastage. These benefits—in addition to the rising demands for convenience food products from the urban, working consumers—encourage the frozen bakery companies to improve their productivity while still increasing their versatility, to create opportunities for innovation of different kinds of frozen bakery products.

Leading players such as Associated British Foods plc (U.K.), ARYZTA AG (Switzerland), Lantmannen Unibake International (Denmark), EUROPASTRY, SA (Spain), General Mills, Inc. (U.S.), Kellogg Company (U.S.), Premier Foods Plc (U.K.), Vandemoortele NV (Belgium), ConAgra Foods, Inc. (U.S.), and Grupo Bimbo S.A.B. de C.V. (Mexico) have been profiled in the report. To maintain a competitive edge in the frozen bakery products market, the key players were observed to prefer acquisition as their key development strategy acquiring local players of the industry and a new customer base for long-term client relationships. Improvements in processing technology allow manufacturers to transport frozen bakery products to longer distances and to serve wider markets. Adoption of new processing technologies such as cold chains, temperature controlling, and tracking devices are expected to further increase competition, both from domestic producers serving previously distant markets and from increasing imports. Developing countries present a viable market for manufacturers, as these regions are emerging as potential markets with the availability of raw materials.

The global market for frozen bakery products is projected to grow at competitive CAGRs of 8.5% and 7.2%, in terms of value and volume, respectively, from 2015 to 2020. Europe led the market for frozen bakery products in 2014, in terms of value and volume, owing to high demands of frozen bakery products from supermarkets, hypermarkets, in-store bakeries, artisan bakers, restaurants, and food service channels. The market in the Asia-Pacific is estimated to grow at a higher rate as compared to the matured markets of developed economies.

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