Frozen Bakery Products Market Insights with Trends and Future Opportunities

The global frozen bakery products market size is estimated to be valued at USD 22.3 billion in 2021. It is projected to reach USD 29.5 billion by 2026, recording a CAGR of 5.8% during the forecast period. Due to the changing and busy lifestyles of consumers globally. This has led to an increase in the consumption of frozen foods globally. Frozen foods are easy to prepare and take less time for preparation. They are healthy and have high nutritional value.

Key players in this market include General Mills (US), Grupo Bimbo (Mexico), Conagra Brands (US), Aryzta (Switzerland), and Europastry (Spain).

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Market Dynamics

Drivers: Rise in demand for convenience food products

The increase in consumer preference for convenience food products indirectly encourages the demand for frozen bakery products as they require less time and effort. The processed food market is driven by the increase in the need for convenience due to the busy customer lifestyles. This, in turn, has led to an increase in demand for frozen bakery products. In addition, the high growth of the frozen food industry due to the fast-growing urban households of developing countries is projected to drive the demand for frozen bakery products. The rise in per capita income and the increase in the trend of snacking between meals are the key factors encouraging the demand for frozen bakery products. The development of retail channels in the form of supermarkets, hypermarkets, convenience stores, and specialty stores has encouraged the growth of the frozen bakery products market. Frozen bakery products do not involve scratch baking and thus require less labor. Therefore, various bakers now prefer keeping frozen baked and parbaked items in their in-store bakeries.

Opportunities: Adoption of individual quick frozen (IQF) technology to maintain the freshness of frozen bakery products

The high-quality frozen bakery products are mainly attributed to the development of a technology, which is known as the individual quick-frozen (IQF) method. IQF is a freezing method that does not allow large ice crystals to form in food products. With traditional freezing, large ice crystals can damage cells and crystal fibers, which makes the food products dry out. IQF foods, however, produce small ice crystals that allow the fibers of the food product to remain unscathed. Microencapsulation is a recent technology that can help manufacturers achieve the goal of increasing the shelf life and texture of their range of gluten-free frozen bakery products. This technology is used to overcome the cardboard consistency of refrigerated pizza, rising crust pizza, and also the shelf-life extension of frozen and refrigerated dough, frozen biscuit dough, scoop and bake frozen muffins, and biscuits.

Challenges: Lack of transport infrastructure support in emerging markets

Refrigerated storage and transportation is a prerequisite for an efficient supply chain in the frozen bakery products market. However, developing markets such as the Asia Pacific, Gulf, and Latin American countries lack efficient transport infrastructure and are not well connected. The missing links in these networks continue to limit route choice, while insufficient capacity and the poor quality of the infrastructure add costs and time to the transit.

Increasing demand of healthy frozen bakery products due to customers shifting preferences and hence development of specialty frozen bakery products.

The specialty frozen bakery products market is projected to attain exponential growth in the future due to the increase in consumer preference as an alternative to unhealthy bakery products. The economic development in the emerging, as well as developed economies, has led to a highly dynamic market scenario of bakery products. The increase in health concerns among consumers has provided a lucrative growth opportunity for specialty bakery product manufacturers to introduce fortified, gluten-free, organic, low-calorie, and sugar-free products and develop a broad consumer base. These factors have led to an increase in the number of specialty bakery shops across the globe.

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Asia Pacific region is projected to witness the highest growth in the frozen bakery products market by 2026.

The Asia Pacific region is among the fastest-growing regions for frozen bakery products. The food & beverage industry has contributed significantly to the market growth in this region. Due to the growing population, rising incomes, and increasing urbanization the market growth is significant. These factors are projected to support the growth of niche markets, such as frozen bakery products. The market is driven by the increase in demand for convenience food products in developing countries such as India, China, Japan, and Australia. In the Asia Pacific region, China accounted for the largest share in the frozen bakery products market in 2020.

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