“Global Frozen Bakery Products Market to reach a market value of USD 43.7 Billion by 2030 growing at a CAGR of 5.9%”
The Global Frozen Bakery Products Market size is expected to reach $43.7 billion by 2030, rising at a market growth of 5.9% CAGR during the forecast period. In the year 2022, the market attained a volume of 3,071.1 kilo tonnes, experiencing a growth of 5.7% (2019-2022).
Bakery stores offer freshly baked goods, including bread, pastries, and cakes. The availability of a diverse range of products attracts consumers seeking convenience without compromising on taste and quality. Consequently, the bakery store segment would generate approximately 19.92% share of the market by 2030. The availability of a diverse range of products attracts consumers seeking convenience without compromising on taste and quality.
Urban dwellers often face time constraints due to demanding work schedules, long commutes, and other responsibilities. Frozen bakery products offer a quick and convenient solution for individuals with limited meal preparation or traditional baking time. Hence, growing urbanization and busy lifestyles have been pivotal factors in driving the growth of the market.
Additionally, The primary appeal of e-commerce in the frozen bakery products market lies in its convenience. Consumers can browse, choose, and order frozen bakery items from the comfort of their homes, saving time and eliminating the need for physical store visits. Thus, because of the increasing e-commerce and online retailing, the frozen bakery products market is anticipated to increase significantly.
However, The frozen nature of these products introduces complexities in the supply chain, particularly in terms of transportation and storage. Maintaining the cold chain throughout the distribution process is crucial to preserving the quality of frozen bakery products, and any disruptions can lead to quality issues. Therefore, supply chain challenges are a significant challenge that hampers the frozen bakery products market growth.
By product type, the market is categorized into bread, pizza crusts, cakes & pastries, and others. In 2022, the cakes & pastries segment held the 36.14% revenue share in the market. Frozen cakes & pastries provide convenience to consumers as they are pre-prepared and ready to bake. In retail, consumers can purchase frozen bakery products for home use, while foodservice establishments, such as cafes and restaurants, can leverage the convenience of frozen options in their menus.
Based on distribution channel, the market is classified into convenience stores, supermarket & hypermarket, bakery store, online, and others. The supermarket & hypermarket segment acquired a 21.86% revenue share in the market in 2022. The extensive product variety caters to various consumer preferences and dietary needs. This appeals to consumers looking for cost-effective solutions and those who want to stock up on their favorite items, contributing to increased sales and consumption of frozen bakery products.
On the basis of type, the market is divided into ready-to-bake, ready-to-eat and others. The ready-to-bake segment dominated the market with 48.93% revenue share in 2022. The ready-to-bake segment allows consumers to experience baked goods' freshness and aroma in their homes. Consumers can add their favorite toppings, fillings, or spices, allowing for a tailored baking experience. This level of customization aligns with the growing trend of consumers seeking personalized food options.
Free Valuable Insights: Global Frozen Bakery Products Market size to reach USD 43.7 Billion by 2030
Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region acquired a 29.73% revenue share in the market. North American consumers are increasingly seeking convenient and time-saving food solutions due to their busy lifestyles. The expansion of e-commerce platforms has facilitated the accessibility of frozen bakery products to consumers across North America. Consumers in North America are increasingly conscious of the ingredients used in their food.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 27.9 Billion |
| Market size forecast in 2030 | USD 43.7 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 5.9% from 2023 to 2030 |
| Number of Pages | 367 |
| Number of Table | 750 |
| Quantitative Data | Volume in Kilo Tonnes, Revenue in USD Billion, and CAGR from 2019 to 2030 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Type, Product Type, Distribution Channel, Region |
| Country scope |
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| Companies Included | Europastry S.A., Aryzta AG, General Mills Inc., British Foods plc, Grupo Bimbo, Cargill, Incorporated, Bridgford Foods Corporation, Lantmnnen Unibake, Conagra Brands, Inc, Flowers Foods Inc. |
By Product Type (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Distribution Channel (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Type (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)
This Market size is expected to reach $43.7 billion by 2030.
Growing urbanization and busy lifestyles are driving the Market in coming years, however, Adverse impact of supply chain challenges restraints the growth of the Market.
Europastry S.A., Aryzta AG, General Mills Inc., British Foods plc, Grupo Bimbo, Cargill, Incorporated, Bridgford Foods Corporation, Lantmnnen Unibake, Conagra Brands, Inc, Flowers Foods Inc.
In the year 2022, the market attained a volume of 3,071.1 kilo tonnes, experiencing a growth of 5.7% (2019-2022).
The Convenience Stores segment is leading the Market, by Distribution Channel in 2022 there by, achieving a market value of $14 Billion by 2030.
The Europe segment dominated the Market, by Region in 2022 there by, achieving a market value of $15.3 Billion by 2030, growing at a CAGR of 5.6 % during the forecast period.
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