Specialty Frozen Bakery Market Insights:
The growing demand for specialty frozen bakery products from fast food restaurants will drive the growth of specialty frozen bakery market. Market Research Future (MRFR) has revealed in its latest report that the global specialty frozen bakery market will thrive steadily across the forecast period 2022 to 2030 at 8% CAGR in terms of value. The market valuation is projected to reach USD 6,201.8 Million by the end of 2030. MRFR has further asserted that the global Specialty Frozen Bakery Market will grow at a CAGR of 8% in terms of volume and the production will reach 6,201.8 million by 2030.
The growing consumption of artisanal bakery products will fuel the market expansion over the next few years. Lower temperatures during freezing enhance shelf lives of artisanal bakery products which will passively influence the accelerated market expansion. Furthermore, the changing consumer preferences have opened up avenues for the industry leaders to expand their product portfolios for staying ahead of the curve which is likely to complement global market proliferation.
The growth of specialty frozen bakery market is also attributable to the increase in the number of high-end bakeries that satiate the consumer demands for best-in-class patisserie goods and varied other products. The baking enterprises are tapping the health-conscious consumer segment by innovating various specialty frozen bakery products such as gluten-free, soy protein-free, dairy-free, etc.
Market Segmentations:
By type, the global specialty frozen bakery market is segmented into bread rolls & artisan loaves, sweet baked goods & morning goods, pizza crust, savory & others.
By customer, the specialty frozen bakery market has been segmented into home makers, industrial, and others.
By distribution channel, the global specialty frozen bakery market is segmented into quick service restaurants, foodservice, large retail, convenience / independent retail, and others.
Regional Analysis:
By region, the global specialty frozen bakery market has been segmented into North America, Europe, Asia Pacific, and Rest of the World. Europe currently accounts for the most significant share of market revenue. The growth of the region is highly attributable to the increase in consumption of artisanal bakery products, specifically in the U.K.
North America is likely to overtake Europe in terms of market share during the assessment period. The changing food habits and growing demand for convenience food will catapult the market expansion in the region. The sweet baked goods & morning products accounted for more than 90% of the North America market share in 2016. The Rest of the World will exhibit an upswing owing to the growing popularity of specialty frozen bakery products in countries such as Turkey, Brazil, and South Africa. Asia Pacific will grow at a moderate pace owing to the increasing disposable income, rapid urbanization, etc.
Competitive Landscape:
The Key Specialty Frozen Bakery Market Players profiled by MRFR in its latest report include Flowers Foods, Inc. (U.S.), Aryzta AG (Switzerland), Rich Products (U.S.), Grupo Bimbo SAB de CV (Mexico), Lantmannen Unibake (Denmark), Vandemoortele Bakery (France), Harry-Brot GmbH (Germany), Mantinga, UAB (Lithuania), Europastry Sa (Spain), and Il Germoglio Food Spa (Italy) among others. The strategies developed and employed by the players for strengthening market footholds include product innovation, technological advancements, acquisitions & mergers, and research & development activities among others. For instance, Flower Foods has acquired Lepage Bakeries, Tasty Baking Company, Home Pride, Wonder, Merita, Butternut, Dave’s Killer Bread (DKB), Alpine Valley Bread Company, and Roman Meal trademark from the Roman Meal Company (Roman Meal) in Tacoma in a short span from 2022 to 2030.
Industry Developments:
In May 2018, Freschetta, which is a food & beverage company, has launched two new flavors of gluten-free frozen pizza.
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