2014-03-25 17:10:04 - Frozen Bakery Market: Global Trends & Forecasts to 2018 - a new market research report on companiesandmarkets.com
The frozen bakery market is estimated to reach $32,505.2 million by 2018, with a CAGR of 7.1% for the forecast period. In 2012, Europe led the frozen bakery market in terms of value, followed by North America and Asia-Pacific. Frozen bakery is a growing industry in the food processing sector. There is a huge demand for frozen bakery products, for instance, frozen bread, as fresh bread has a very short life span. A number of chemical and physical changes take place during its storage, deteriorating the freshness and quality of bread.
The global industry has been on a higher growth trajectory for the last few years. The growth is largely fuelled by hectic schedules and rising awareness of nutritional facts amongst
people. The market has grown considerably in recent times and is expected to continue its growth in the future. For instance, bread is considered as one of the leading staple food worldwide. Factors such as availability of a variety of bakery products and quality demand of buyers have encouraged quite a few leading frozen bakery product suppliers to expand their chain across the world. There has been a considerable rise in the number of over-the-counter and retail bakeries. Better value for money and new gender behavior are a few of the other reasons for the increase in consumption of products.
Frozen pizza crust comprises of important share of 32.2% of the total market. Frozen breads hold almost 25.5% of the total market followed by frozen pastries with 15.5% share. Europe forms the largest segment of the market in 2012. It is poised to grow at a steady CAGR of 6.9% over the forecast period. North America is estimated to be the second largest market due to increase in demand for processed food and busy life-styles of the population.
Asia-Pacific is projected to gain the fastest growth of 7.7% during the concerned period. In the Asia-Pacific region, the people are introduced with frozen bakery in recent years, so the growth rate in this region would be the highest. Good quality products containing nutrients are making foray in a big way with the growing food processing industry in this region.
The frozen bakery market is growing steadily with medium competition. Supermarkets and hypermarkets comprise of a greater percentage than artisan bakers. In recent years, the growth of coffee shop chains selling frozen bakery products has also increased the competition for other bakery outlets. There is an increasing trend towards specialty and continental frozen bakery products. There is a significant increase in the number of outlets with in-store bakeries and also in the demand for frozen bakery snacks such as rolls, teacakes, scones, and so on.
The supermarkets have been very successful in capturing a significant share of the frozen bakery market by selling different products made by chief plant bakeries at low prices. They have also introduced in-store bakeries producing specialty baked products. Quality standards have been taken care of by all the players in the frozen bakery industry. Frozen bakery products have grown in popularity due to their ease of preparation and the time and cost savings that they provide to other institutional outlets. Good potential for market growth in some countries and the number of varying products provide tremendous opportunity for the producers to get involved in the frozen bakery market.
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