According to the latest report by Fact.MR, the global frozen bakery products market is expected to witness sluggish growth, registering 3.1% CAGR between 2017 and 2022.
According to a study by Fact.MR, the global frozen bakery products market is projected to bring in US$ 21,891.6 million revenues by the end of 2022. The market is anticipated to witness sluggish growth. Increasing number of people becoming health conscious are moving towards more healthy options such as fruits and vegetables.
5 Forecast Highlights on Global Frozen Bakery Products Market
1. Asia Pacific Excluding Japan (APEJ) is expected to remain dominant in the global frozen bakery products market. The market is expected to create an incremental opportunity of over US$ 1,000 million between 2017 and 2022.
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2. Frozen bakery products market in Japan is anticipated to grow at a faster phase compared to the developed regions such as Europe and North America.
3. Pizza crust as a product is expected to reach nearly US$ 4,500 million revenues by the end of 2022. Owing to the consumption habits in developed countries, the pizza crust is witnessing a growth in the market. Meanwhile, bread as a frozen bakery product is anticipated to the second largest product.
4. Compared to various sales channels in frozen bakery products, Modern trade is anticipated to be the largest sales channel. Towards the end of 2017, Modern trade sales channel is expected to account for nearly one-third of the revenue share. Meanwhile, sales of frozen bakery products will be the lowest through convenience stores.
5. Fresh frozen bakery products on basis of sales format are expected to reach nearly US$ 14,800 million revenues by the end of 2022. It is also projected to account for nearly two-third revenue share by the end of 2017.
Fresh Frozen Bakery Products to Account for Maximum Revenue Share
Pre-packed baked frozen bakery products, the fresh frozen bakery products will gain nearly two-third of the revenue share by the end of 2017. By 2022 end, the sales of fresh bakery products will reach nearly US$ 14,800 million revenue. Increasing customer preference for freshly baked products is driving the demand for fresh frozen bakery products. While the pre-packed baked frozen bakery products are expected to account for more than one-fourth of the revenue share by the end of 2017.
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Pizza Crust – Top-Selling Product
The pizza crust is anticipated to be one of the top selling products in the global frozen bakery products market during 2017-2022. Sales of pizza crust are expected to bring in nearly US$ 4,500 million revenues by 2022 end. Although bread as a frozen bakery product is projected to create an incremental opportunity of over US$ 600 million during the forecast period.
High Sales through Modern Trade
Accounting for more than one-fourth of the revenue share, modern trade is anticipated to emerge as one of the most lucrative sales channels. Towards the end of 2022, modern trade is expected to reach close to US$ 6,900 million revenues. Meanwhile, direct sales channel is projected to be the second biggest sales channel for frozen bakery products.
Competition Tracking
The report also profiles companies that are expected to remain active in the expansion of global frozen bakery products market through 2022, which include Cole’s Quality Foods, Inc., General Mills, Inc., Flowers Foods, Europastry, S.A., Barilla Holdings Spa, General Waffel Manufactory, Vandemoortele NV, American Desserts, Associated British Foods plc, Bridgford Foods Corporation, Premier Foods plc, Cargill Incorporated, Conagra Brands, Inc., Alpha Baking Company Inc., Kellogg Company, Europastry, S.A., Lantmannen Unibake International, General Mills Inc., Grupo Bimbo S.A.B. de C.V., and Aryzta AG.
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