NEW YORK, Dec. 8, 2016 /PRNewswire/ -- "Frozen bakery products market is projected to grow at a CAGR of 7.9% from 2016 to 2022."
The frozen bakery products market is projected to reach USD 23.48 billion by 2022 at a CAGR of 7.9% from 2016. The market is driven by factors such as increased demand for convenience food and rise in demand for readily available safe and tasty food products. Economic growth with the increase in disposable income is enabling customers to spend on premium quality frozen bakery products, which is expected to result in significant market growth in emerging economies. However, preference for conventional, freshly baked food products and volatility of raw material prices are the restraining factors for frozen bakery product manufacturers.
"Breads segment accounted for the largest market share in 2015."
The breads segment accounted for the largest market share of the frozen bakery products market in 2015 and is expected to grow at a significant CAGR during the forecast period (2016-2022). Frozen breads are produced utilizing frozen yeasted bread dough. Moreover, these are the high quality breads when compared to the conventional ones. Major market participants such as Grupo Bimbo S.A.B. de C.V. (Mexico), Associated British Food plc, and General Mills are continuously working on producing new and innovative flavors in breads in response to the increasing demand for a variety of bread products by consumers.
"Catering & industrial is projected to be the fastest growing distribution channel between 2016 and 2022."
The catering & industrial channel is majorly driven by the factors such as changing lifestyle and increase in the number of national and international brands across the globe. Many of the international cuisine recipes include the usage of breads and its variants. Hence, the evolving and growing culture of eating out is driving the increasing demand for a variety of bread products by the HORECA industry.
"Asia-Pacific market is projected to grow at the highest CAGR between 2016 and 2022."
Asia-Pacific is projected to be the fastest growing region in the coming years owing to increasing demands for convenience food products by the urban population of the region.
Demand for frozen bakery products is estimated to grow in the emerging economies such as China and India due to the rise in disposable income and purchasing power parity (PPP) of the growing population of these countries.
The breakdown of primaries on the basis of company, designation, and region, conducted during the research study is given below:
By Company Type: Tier 1 – 20%, Tier 2 – 45%, and Tier 3 – 35%
By Designation: Director Level – 22%, C-Level – 28%, and Others – 50%
By Region: North America – 18%, Europe – 25%, Asia-Pacific – 45%, and RoW – 12%
Key players are as follows:
- Grupo Bimbo S.A.B. de C.V. (Mexico)
- Associated British Foods plc (U.K.)
- Aryzta AG (Switzerland)
- Europastry, S.A. (Spain)
- General Mills Inc. (U.S.)
These companies collectively accounted for the largest portion of the frozen bakery products market in 2015.
Other players with a strong presence in this market are as follows:
- Lantmannen Unibake International (Denmark)
- Premier Foods plc (U.K.)
- Kellogg Company (U.S.)
- Vandemoortele NV (Belgium)
- Conagra Brands, Inc. (U.S.)
This research report categorizes the frozen bakery products market based on type, distribution channel, technology, and region. Based on type, the market has been segmented into breads, pizza crusts, cakes & pastries, and others. Based on distribution channel, the market has been segmented into artisan bakers, retail, and catering & industrial. In terms of technology, the market has been segmented into raw products, ready-to-bake and ready baked & frozen.
Regional segmentation of the market includes North America, Europe, Asia-Pacific, and RoW (Rest of the World).
Reasons to buy this report
From an insight perspective, this research report has focused on various levels of analyses—industry analysis (industry trends), and company profiles, which together comprise and discuss the basic views on the competitive landscape—emerging and high-growth segments of the global frozen bakery products market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following:
- Market Penetration: Comprehensive information on frozen bakery products offered by top players in the global market
- Product Development/Innovation: Detailed insights on upcoming frozen bakery products techniques, research & development activities, and new product launches in the frozen bakery product market
- Market Development: Comprehensive information about lucrative emerging markets
- Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the global frozen bakery product market
- Competitive Assessment: In-depth assessment of market share, strategies, products, and manufacturing capabilities of leading players in the global frozen bakery product market
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