Frozen Bakery Market Products – An overview
The changing lifestyles of the modern consumers and the desirability for convenient food products have been the reason for the faster growth of frozen bakery products market. The frozen bakery products save the consumers the time and efforts needed for preparing the bakery products at home on a large scale. One of the factors of the growth in frozen bakery market size can be attributed to the year round availability of bakery products and a wide range of variability in bakery products.
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Global frozen market forecast
The global frozen bakery market in terms of value is expected to cross approximately $23.48 billion by 2022 with a CAGR of 8.5% from 2016 to 2020. The growth potential of global frozen bakery market is expected to accelerate further due to the modern busy lifestyles of people across the globe and the fast growing global tourism and hospitality industry.
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Europe (Germany, Spain, United Kingdom, France and Italy) holds the largest segment of frozen bakery market shares followed by North America with Asia- Pacific region (China, India) expected to show an increase in the percentage of share in the frozen bakery products market. China is the largest country holding the largest share in the frozen bakery products market in the Asia – Pacific region due to faster urbanization and economic growth.
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Types of frozen bakery market
The frozen bakery market by types is subdivided or segmented into products such as Frozen Bread, Pizza Crusts, Cakes and Pastries and others (wafers, biscuits, cookies, bagels, pretzels, donuts etc) with the cakes and pastries segment expected to reach the highest CAGR from 2017 to 2022. An increase in the export potential of specialty cakes and pastries with high starch – gluten ratio and low protein wheat is expected to contribute to their increased market revenue by 2022.
India’s share in frozen bakery market would grow in terms of value and volume of the frozen bakery products depending upon the choice of distribution channels and geographical markets. The per capita consumption of frozen bakery products in India stands at 1-2 kg per annum, which is lowest when compared to developed economies where their consumption is between 10-50 kg per annum. There is a still long way to go to increase the share of India in the global frozen bakery market share.
Factors influencing the frozen bakery market
A detailed frozen bakery market research undertaken by various research firms has identified certain visible factors that are influencing the frozen bakery products market and these factors include-
• Greater safety and taste consistency among the consumers
• Development of retail and distribution channels
• Convenience aspects provided by the frozen bakery products
• Technological breakthrough in food technology especially in frozen bakery products
• The preference for freshly baked products and conventional products over frozen bakery products and volatility in raw materials prices across the globe are some of the factors that influence the frozen bakery market.
The other major factor that is expected to shake out the frozen bakery products market over the next decades is the greater awareness about health consciousness among the consumers. Over the next few years, it is estimated that the demand for frozen bakery products in the form of production of gluten free frozen bakery foods for the health conscious and wheat allergic consumers and foods that contain less sugar (especially for those who are diabetic) or sugar free bakery products would increase manifold.
In addition, there are certain factors that are influencing the growth of global frozen bakery products such as inefficient supply chains and fluctuation demand from consumers especially in developing economies like Africa, India, Middle East etc where due to infrastructure constraints temperature requirements of the frozen bakery products and effective Ph requirements needed for additives are not properly met. This leads to spoiling or rotting up of the bakery products due to poor maintenance.
Seasonal variations such as during summer seasons when consumers usually demand or prefer sweetened bakery products and during winters, the demand for filled or regular bread reaches its peak influences overall demand and supply of the frozen bakery products. Globally, Europe is still regarded as the natural home for frozen bakery products and therefore is anticipated to witness further growth in the near future with an increasing demand for frozen pizza and frozen bread.
The competition among the major players dominating the globally bakery market such as Lantmannen, Deiorosis Frozen Dough Products, DuPont, Associated British Foods, Archer Daniels Midland Company, Kerry Group, Mondelez International etc would shape the course of the frozen bakery products across the globe depending upon the respective marketing and development strategies that would be adopted by these companies.
Overall, new technological innovations in the field of food processing industry to improve the frozen bakery products quality that includes enzymes, hydrocolloids, antioxidants, sourdough fermentation techniques would play an important role and would be a factor in influencing the global frozen bakery market growth.