Frozen Bakery Products Market Forecast and Growth 2031

The Frozen Bakery Products Market size is projected to reach US$ 40.88 billion by 2031 from US$ 27.15 billion in 2023. The market is expected to register a CAGR of 4.4% in 2023–2031. Fortification of frozen bakery products, is likely to remain key frozen bakery products market trends.

Frozen Bakery Products Market Analysis

Rise in demand for convenience food has fuelled the market growth of frozen bakery products. The demand for frozen bakery products is surging, owing to rising consumer preference toward processed or convenience foods. In addition, the easy availability of frozen bakery products has influenced the buying pattern for the shoppers who are concerned with the dietary merchandise and rendered a firm place to the frozen bakery products in the list of daily consumables. Moreover, due to the growing food & beverages industry and improving economic conditions, rising disposable income of consumers in developed and developing regions worldwide has driven the sales of convenience foods. The widespread trend of socializing in cafes among urban millennials and the youngest segment of the population is accelerating the growth of the chained foodservice industry, which is growing the market for frozen bakery products.   

Frozen Bakery Products Market Overview

Frozen bakery products include pre-baked and frozen bakery goods such as frozen bread, cakes, muffins, and other bakery products. The frozen bakery products market is influenced by changing lifestyle, busy schedules, and growth in disposable income. In recent years, the food and beverages industry also witnessed high preference for ready-to-eat and ready-to-bake products. Expansion of retail sector along with emergence of various online platforms is also contributing positively to the availability of frozen bakery products. Frozen bakery products have wide availability in retail stores and supermarkets due to the diversification of distribution channels. In addition, other factors driving the demand for convenience foods include change in working demographics and a busy lifestyle.  

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Frozen Bakery Products Market: Strategic Insights

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Frozen Bakery Products Market Drivers and Opportunities

Growing Number of Foodservice Outlets to Favor Market

Cafes and restaurants have emerged as a comfortable and convenient spot for families, millennials, and working young professionals to relax and socialize, thereby propelling the growth of market. In addition, rapid infrastructure development in emerging economies, such as new airports and expressways, has created opportunities for numerous foodservice outlets and coffee chains to open new outlets. Owing to this, the increasing preference of consumers for fast food, frozen food, and other ready-to-eat (RTE) food items such as breads and rolls, pizza and pizza crust, cakes and pastries, and cookies and biscuits is driving the demand for frozen bakery products. The growing number of foodservice outlets is one of the major drivers of global frozen bakery products market share.

Adoption of Individual Quick Frozen (IQF) Technology to Preserve Freshness of Frozen Bakery Products – An Opportunity in Frozen Bakery Products Market

Freezing has become one of the most effective methods for preserving the flavor, texture, and nutritional value of bakery products over long periods of storage. With advancements in freezing technology, the individual quick frozen (IQF) method has emerged as a promising technology for preserving frozen bakery products for longer periods of time while preserving their sensory and physio-chemical properties. The invention the IQF method is largely responsible for high-quality frozen bakery products. IQF is a freezing technique that prevents large ice crystals from forming in food. Therefore, the adoption of IQF technology to maintain the freshness of frozen bakery products is expected to have a positive impact on the frozen bakery products market.

Frozen Bakery Products Market Report Segmentation Analysis

Key segments that contributed to the derivation of the frozen bakery products market analysis are product type, category, and end user.

• Based on product type, the frozen bakery products market is divided into bread and rolls, cakes and pastries, cookies and biscuits, and others. Breads and rolls segment held a larger market share in 2023.
• Based on category, the frozen bakery products market is divided into gluten-free and conventional. Conventional segment held a larger market share in 2023.
• By end user, the market is segmented into foodservice and food retail. The foodservice segment held the largest share of the market in 2023.

Frozen Bakery Products Market Share Analysis by Geography

The geographic scope of the frozen bakery products market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.

Europe has dominated the frozen bakery products market. Frozen bakery products market registered a notable growth in Europe, owing to the convenience these products offer, especially in minimizing the time required for cooking and baking. Moreover, the growing demand for ready-to-eat food products owing to hectic work schedules is also expected to contribute to the market growth in the region over the forecast period. According to a report published by Food Drink Europe, the food & beverages industry in Europe accounted for turnover of US$ 1,463.5 billion in 2020 making it one of the largest manufacturing industries in Europe. The growth of this industry is driven by the rising demand for comfort foods, frozen foods, and ready-to-eat meals. Moreover, the foodservice sector is expected to register a notable growth over the coming years leading to the rising trend of cloud kitchen services, quick service restaurants, online food delivery services, and other such factors in Europe. The foodservice industry is one of the most potential end-use industries for frozen bakery products market.

Frozen Bakery Products Market Regional Insights

The regional trends and factors influencing the Frozen Bakery Products Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Frozen Bakery Products Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Frozen Bakery Products Market Market Report Scope

Market Players Density: Understanding Its Impact on Business Dynamics

The Frozen Bakery Products Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Frozen Bakery Products Market are:

1. Dawn Food Products Inc
2. General Mills Inc
3. Conagra Brands Inc
4. Bridgford Foods Corporation
5. Grupo Bimbo
6. Cole's Quality Foods Inc

Disclaimer: The companies listed above are not ranked in any particular order.

Frozen Bakery Products Market News and Recent Developments

The frozen bakery products market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for innovations, business expansion and strategies:

• In July 2022, Europastry SA announced expansion of a carbon neutral production line at the Oldenzaal plant in the Netherlands. (Source: Europastry SA, Press Release)
• In October 2021, Red Lobster Seafood Co launched frozen Cheddar Bay Biscuits.  It is available at Walmart stores throughout the US. (Source: Red Lobster Seafood Co, Press Release)

Frozen Bakery Products Market Report Coverage and Deliverables

The “Frozen Bakery Products Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Market dynamics such as drivers, restraints, and key opportunities
• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
• Detailed company profiles