The report “Frozen Bakery Products Market, by Type (Breads, Pizza Crusts, and Cakes & Pastries, and Others), by Distribution Channel (Artisan Bakers, Retail, Catering & Industrial), and Region – Global Forecast to 2028″. The frozen bakery products market size is projected to grow from US$ 16.1 billion in 2018 to US$ 35.0 billion by 2028. The global frozen bakery products market is expected to register moderate growth over the forecast period. This is attributed to the increasing demand for breads, pizza, pastries and other bakery products globally, owing to the changing eating habits and increasing disposable income. However, preference towards freshly baked products is expected to hamper growth of the target market over the forecast period.
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Increasing R&D investments by companies operating in the target market on development of product that enhances food quality, coupled with increasing focus of companies to strengthen its supply chain in order to make product easily availability to the consumers are some factors which in turn creates lucrative growth opportunities for new as well as existing players to gain competitive edge.
· In June 2015, for instance, Tropilite Foods Pvt Ltd. had launched a new Svensons brand, a premium food brand with complete innovative food solutions in India. Delivering high degree of creativity in innovations of food products like frozen bakery range which serves mousse shots, savoury muffins, bruchita, volcano muffins, pizza tarts, marble brownie etc.
· In October 2015, Nina Bakery had launched fully baked and frozen pita sticks in Europe.
Key Market Insights from the report:
The global market accounted for US$ 16.1 billion in 2018 and is projected to register a moderate CAGR of 7.8% over the forecast period. The market report has been segmented on the basis of type, distribution channel, and region.
· By type, cakes & pastries segment register significant growth rate over the forecast period. Higher disposable income and growing demand for cake and pastries on special occasions which includes birthdays, anniversaries and weddings are some factors expected to support growth of cake & pastries segment, thereby driving growth of the target market over the forecast period.
· By distribution channel, the retail segment holds for major revenue share in 2018, and is expected to maintain its dominance over the forecast period. Ease of product availability, coupled with growing number of retails stores globally are factors expected to support growth of the segment.
· By region, Europe frozen bakery products market accounted for major revenue share of the global market and is further anticipated to maintain its dominance over the forecast period. This is attributed to the presence of major manufacturers, coupled with growing demand for convenience food in the region.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Frozen Bakery Products Market” by Product (Breads, Pizza Crusts, and Cakes & Pastries, and Others), by Application (Artisan Bakers, Retail, Catering & Industrial), and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa) – Global forecast till 2028
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The prominent player operating in the global frozen bakery products market includes Grupo Bimbo S.A.B. De C.V., General Mills Inc., Aryzta AG, Europastry, S.A., Conagra Brands, Inc., Associated British Foods PLC, Kellogg Company, Lantmannen Unibake A/S, Vandemoortele NV, and Premier Foods PLC.
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