Selbyville, Delaware, Aug. 30, 2022 (GLOBE NEWSWIRE) -- As per the report published by Global Market Insights Inc., the global Frozen Bakery Market is anticipated to surpass USD 73 billion by the end of 2030, progressing at a CAGR of 6.7% from 2022 to 2030.
The report identifies that the industry is benefiting from the growing consumer awareness of healthier options offered by bakery owners. Consumers inextricably link think health and sustainability and seek products that are better for them and more environmentally friendly. Frozen food products have the advantage of retaining their nutritional value for a longer period of time. Driven by the growing trend of healthy lifestyles, the frozen bakery industry is likely to gain traction among health-conscious customers.
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The growing acceptance of frozen bakery products due to their superior properties such as simple preparation, affordability, and easy availability is pushing the industry forward, cites the report. However, the profitability of bakery manufacturers is affected by uncertain cost factors. To meet the evolving industry demands, frozen bakery product companies have to increase operational efficiency and improve warehousing and supply chain processes. The report cites that the difficulties to cut production costs and maximize efficiency may obstruct frozen bakery market growth.
Increasing consumption of patisserie products to push the industry growth
In light of rising consumption and popularity around developed and developing regions worldwide, the patisseries segment is expected to hold over 27% of the frozen bakery market share by 2030. With myriad varieties and flavors to choose from, frozen patisseries are highly demanded among bakery chains, food service restaurants, and hotels. Furthermore, rising disposable incomes may fuel the demand for fantasy snacks such as cheesecake, s’mores, pretzel nibs, and so on.
Extensive use of Ready-To-Prove products to drive the market expansion
Several bakers and chefs prefer to ready-to-prove frozen bakery products because they are more convenient and take less time to prepare. A growing number of restaurants and food chains are using huge quantities of frozen ready-to-prove products in meal preparations. As per the report, the ready-to-prove product segment may cross USD 10.6 billion by 2030, driven by extensive demand across catering and food service businesses.
Modernized Marketing through online platforms to increase sales
The report identifies that retailers and bakery owners today choose to promote and sell their products via online platforms. Modernizing product portfolios and the launch of in-demand frozen bakery food items at the customer’s convenience have increased the platform’s penetration. The industry size from online channels is expected to register a CAGR of 8% through 2030. With evolving marketing techniques and dedicated bakery sections, sales of frozen bakery goods through hypermarkets and supermarkets are also expected to depict an upsurge.
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Changing lifestyles to shape the APAC frozen bakery market outlook
The report identifies that due to the rapid population rise and higher disposable incomes, the frozen bakery industry in the countries of Asia Pacific has gained immense popularity. Softer breads are becoming more popular among consumers in areas such as Southeast Asia, paving the way for more technology, particularly in terms of ingredients. The trends of the bakery industry in the world’s largest food producing countries such as China and India will offer impetus to the Asia Pacific market size, slated to cross USD 16.3 billion by 2030.
Product development strategies to define the competitive landscape
The frozen bakery market is expected to see several product developments and product range expansions by industry players. For example, Rademaker, a manufacturer of frozen bakery products, has a baking and technology center in Culemborg (NL) where experts are constantly working on research and development for frozen and par-baked products. Il Dolce Forno's has implemented cutting-edge green manufacturing technologies. The cutting-edge refrigerator cooling system does not use dangerous Freon gas, but rather ammonia, which is environmentally friendly and recyclable. Other leading companies in the frozen bakery industry are Grupo Bimbo, Europastry, General Mills, Patagonia Artisan Bakers, Kellogg Company, BredenMaster S.A, Dr. Oetker, and others.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
