Market Size of Frozen Bakery Products Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 8.21 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Frozen Bakery Products Market Analysis
The global frozen bakery products market is projected to witness a CAGR of 8.21% during the forecast period (2022-2027).
COVID-19 has significantly affected the market. There was a change in consumers' buying behavior. Consumers were becoming health-conscious, and they were maintaining a healthy diet. Consumers were also using the e-commerce websites for purchasing bakery products as the bakery shops, retail stores, and other shops were closed due to lockdowns across the world. Lantmannen Unibank International, which is one of the largest players in this segment, has witnessed a fall in sales during the pandemic. According to the company, the downfall of sales was majorly due to the closures of numerous bakeries around the globe.
The increasing number of work professionals, coupled with the growing popularity of convenience foods, is likely to drive the market for frozen bakery products. The frozen bakery sector exhibits well-established in-store bakeries, coffee chains, cafes, and quick-service restaurants. These outlets are quickly seizing the opportunity associated with frozen baked products - greater convenience, availability, and a wide range of variability in products.
Consumers who are looking for convenient, indulgent, and on-the-go snacks are presented with the choice between fresh and frozen baked products. Consumers exert considerable pressure to drive the prices of baked goods.
