(Entertainment-NewsWire.com, August 01, 2019 ) An excellent growth has been recorded in the Global Frozen Bakery products market over the last couple of decades. Increase in demand for convenient food products and drive for greater taste, safety, and consistency are the major factors driving the global frozen bakery products market. Emerging countries such as India, China, Brazil, Argentina, and Malaysia among others are the potential markets for frozen bakery products, as consumers in these markets are demanding for readily available and new varieties of food products.
Browse 77 market data tables and 52 figures spread through 152 pages and in-depth TOC on “Frozen Bakery Products Market- Global Forecast to 2022”
The years considered for the study are as follows:
• Base year – 2015
• Estimated year – 2016
• Projected year – 2022
• Forecast period – 2016 to 2022
Cakes & pastries projected to be the fastest-growing segment, by type, from 2016 to 2022:
The cakes & pastries segment is projected to grow at the highest CAGR from 2016 to 2022. Increase in exports and imports of frozen cakes & pastries from dominant regions, such as North America and Europe, are the factors behind its continuously increasing market share in other parts of the world. In addition, specialty cakes & pastries with high starch-gluten ratio and low-protein wheat are gaining huge popularity, and are expected to contribute a commendable market revenue in 2022.
Retail distribution channel segment expected to continue its dominance over the forecast period and to grow at a considerable CAGR between 2016 and 2022:
Retail is the most effective media of targeting the maximum number of customers possible, and currently holds the largest market share of the frozen bakery products market. Changing consumption patterns, willingness and ability of customers to spend and try new products are the key factors driving the growth of the retail channel. Moreover, the increasing number of super markets and hyper markets is moderately replacing fresh bread products made by chain bakeries and artisan bakers.
Asia-Pacific expected to show growth potential in the frozen bakery products market:
There is a high-growth potential for frozen bakery products in the Asia-Pacific region where the emerging economies, such as China and India, are located. The emerging economies have considerable potential customers that are adopting the ready-to-cook and more convenient food options. China, in particular, is the largest country to hold the maximum share in the frozen bakery products market due to the rapid urbanization and changing consumption pattern of consumers in this country.
The frozen bakery products market is characterized by moderate competition, due to the presence of a number of large- and small-scale firms. The mature markets in the European region restrict further growth and manufacturers are compelled to look for new market opportunities in developing economies. Preference for conventional, freshly baked products, consolidated market scenario, and volatility in prices of raw materials act as restraints to the growth of the market for frozen bakery products. The market is dominated by players such as Grupo Bimbo S.A.B. de C.V. (Mexico), Associated British Foods plc (U.K.), Aryzta AG (Switzerland), Lantmannen Unibake International (Denmark), Europastry, S.A. (Spain), General Mills Inc. (U.S.), and Kellogg Company (U.S.). These companies collectively accounted for the largest portion of the frozen bakery products market in 2015. New product launches, acquisitions, agreements, and expansions are the key strategies adopted by players to ensure their growth in this market.
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