Global Frozen Bakery Products Market Expected to Reach $49,118 Million by 2025
According to a new report published by Allied Market Research titled ,"Frozen Bakery Products Market by Product Type, Source, End Use, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,"the global frozen bakery products market size was valued at $33,870 million in 2017, and is projected to reach $49,118 million by 2025, growing at a CAGR of 4.2% from 2018 to 2025. In 2017, the North America sector accounted for nearly 31.34% of the frozen bakery products market share.
The
global frozen bakery products market is segmented into product type, source,
end use, distribution channel, and region. Based on product type, the market is
divided into breads, pizza crust, cakes and pastries, waffles, donuts, and
cookies. The bread segment accounts for the highest market share attributable
to increase in consumption of frozen breads in UK, Germany, and France. Some of
the key players in the market focus on introducing innovative bakery products
that cater to the requirement of its target customers. In terms of source,
barley and rye account for highest market share due to increase in demand for
raw material among the manufacturers.
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Frozen
food products is one of the largest segments in global food industry. However,
in the flow of cold chain for these kinds of products, it incurs higher profit
margins from some of the key participants in the supply chain. This includes
maintenance cost, transportation cost, infrastructure, and machineries. Thus,
this have an adverse effect on the overall price of frozen products which
eventually affects the overall volume sales for the product. This in turn
restricts the frozen bakery products market growth.
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Over
the years, there has been a rise in number of workforces in various demographic
segments. There has been a gradual adoption of work lifestyle among women. As a
result, majority of consumers around the world especially in the developed
countries, seek food products that can be prepared easily. Owing to which,
various convenient food products witness a significant demand over the past
couple of years. This is expected to boost the growth of the market during the
forecast period.
By
distribution channel, the artisan baker segment generated the highest revenue
in 2017, since majority of the consumers prefer buying frozen bakery products
from these kinds of stores owing to the easy availability of the product.
The Europe frozen bakery products segment accounted for the highest market
share in 2017 and is expected to maintain its dominant position throughout the
forecast period.
The
global frozen bakery product manufacturers focus on merger and acquisitions to
expand its operation in domestic as well as international markets.
In
2016, the Grupo Bimbo S.A.B. de C.V. announced the acquisition of General Mills
Argentinas bakery business.
In
2014, Arytza acquired Canadas Pineridge Bakery and US Cloverhill Bakery under
the total transaction of US$1.01 billion.
Key findings of the Frozen Bakery Products
Market:
- In 2017, based
on product type, the bread segment accounted for around 34% of the frozen
bakery products market share, growing at a CAGR of 5.0% from 2018 to 2025.
- In 2017, the
pizza crust segment accounted for around 22% of the market share, growing
at a CAGR of 5.3% from 2018 to 2025.
- In 2017, based
on source, the rye segment accounted for 34% of the market share and is
expected to growth at the highest CAGR of 4.0%.
- In 2017, the
barley segment has occupied around 29% of the market share and is expected
to growth at the highest CAGR of 4.8%.
- In 2017, based
on end use, the food service segment accounted for 39% of the market share
and is expected to growth at the highest CAGR of 4.9%.
- In 2017, the
food processing segment has occupied around 33% of the market shareand is
expected to growth at the highest CAGR of 4.3%.
The
key players profiled in this report include General Mills (Pillsburry), Aryzta
AG, Grupo Bimbo S.A.B. de C.V., Europastry, S.A., Lantmannen Unibake
International, Associated British Foods plc, Flower Foods Inc., TreeHouse
Foods, Inc., Dawn Foods Products Inc., and Vandemoortele NV.
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