Market Size of Frozen Bread Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.30 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players.webp)
*Disclaimer: Major Players sorted in no particular order |
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Frozen Bread Market Analysis
The frozen bread market is projected to register a CAGR of 4.3% during the forecast period.
- Key factors contributing to the growth of frozen bakeries include a rising preference for convenient food and the popularity of specialty frozen bakery products. Intra-industry competitiveness is high and affects the market. The cake and pastry segment is on the rise in the frozen bakery products market. With the growing demand for premium and customized cakes, the overall cake market witnesses increased demand. The demand for healthy and convenient food that can be consumed instantly is on the rise due to the fast-paced lifestyle and the need for quick meals or snacks among adults.
- Frozen bakery products are considered to provide these benefits, as most of them can be cooked quickly for consumption. These factors propel the market growth. According to the United States Department of Agriculture (USDA) April 2021, 72.0% of Americans purchased frozen food due to their busy life schedules. These facts are likely to bode well with the market growth. The increasing health and safety concerns amid rising COVID-19 cases obligated people to take fewer trips to stores to buy household items, including food and snacks.
- On-the-go snacking is becoming extremely popular, especially among the working class, teenagers, people living in hostels, and bachelors, due to their hectic lifestyles. Moreover, the on-the-go snacking concept is closely associated with the easy consumption and handling of products. Thus, the demand for frozen bakery products is increasing due to the linked convenience of consumption, aided by innovative flavors and ingredients and the taste preference of consumers.
- The frozen bakery industry is driven by the increasing demand for specialty goods, constituting functional ingredients. Oats, legumes, nuts, probiotics, cereals, and fortified margarine are some of the functional ingredients used to enhance the nutritional value of frozen bakery products. Almost every bakery product can be customized per the customer's needs and requirements. Thus, the flexibility and ease of customization make the specialty frozen baked products market more lucrative.
