Pizza Crust to Register 6% CAGR for Frozen Bakery Products, Remaining Top-Selling Product: Fact.MR Study
Published : 27 Sep 2021 Industry: Food & Beverage
Fact.MR states the global sale of frozen bakery products will reach a market value of US$ 51.6 Bn by registering a healthy CAGR of 6.3% from 2021-2031. Increasing inclination towards fast food and hectic lifestyle of individuals is driving the sales of frozen bakery products.
Historically, between 2016 and 2020, the sales of frozen bakery products surpassed US$ 27 Bn by the end of the aforementioned period. The onset of the COVID-19 pandemic restricted movements around the world. Thus, the retail chains were shut too. But, due to the availability of online shopping, the sales of frozen bakery products did not observe a drastic dip. With the opening of supermarkets and hypermarkets, the sales of frozen bakery products are expected to recover.
Increasing heath concerns have exposed people to higher risks of various chronic ailments. Thus, manufacturers of frozen bakery products are offering healthy alternatives that are fat-free and gluten-free. This, in turn, has affected the sales of frozen bakery products positively. By 2022, the market is expected to reach US$ 29 Bn in value terms.
Key Takeaways from the Market Study
- By product type, pizza crust expected to register 6% CAGR by 2031 end
- Frozen bread to create incremental opportunity worth US$ 600 Mn by 2022, possessing over 35% revenue by 2031
- Asia to capture 60% of global frozen bakery products revenue until 2031
- Europe to account for 2/5th of frozen bakery products sales from 2021-2031
- Fresh frozen bakery products to surpass US$ 15 Bn in revenue by 2031, gaining 66% market share
“Inclination towards fast food along with fat-free and cholesterol-free products are driving the sales of frozen bakery products industry.” opines a Fact.MR analyst
Key companies operating in frozen bakery products include Cole’s Quality Foods Inc., General Mills Inc., Flowers Foods, Europastry, S.A., Barilla Holdings Spa, General Waffel Manufactory, Vandemoortele NV and American Desserts among others.
- In June 2021, Flowers Foods acquired assets of Koffee Kup Bakery Inc., in Burlington, Vermont. The acquisition is expected to increase market growth in North East America for the company. The acquisition includes three closed bakeries located in Burlington and Brattleboro, Vermont and North Grosvenor Dale, Connecticut, and the Koffee Kup Bakery and Vermont Bread Company brands
- In May 2021, General Mills Inc. introduced six new bakery products in its Pillsbury brand line. These include the Pillsbury Money Bread Pull-Apart Kit, Pillsbury Garlic Bread Pull-Part Kit, Pillsbury Mini Cinni Stix, Pillsbury Mini Pizza Crusts, Pillsbury Birthday Cake Dough Poppins and Pillsbury Chocolate Chip Cookie Dough Poppins
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global frozen bakery products market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031.
The study indulges essential insights on the market on the basis of product type (bread, rolls, pancake, muffins, pound cakes, pizza crust, donuts and pastries), sales channel (modern trade, traditional grocery store, convenience stores, online channels, direct sales and other retail formats) and sales format (fresh, pre-packed baked and pre-packed part-baked) across seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa).
Fact.MR’s Domain Knowledge in Food & Beverages
Our food and beverages consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the food and beverages sector. Our expertise in recognizing the challenges and trends impacting the global food and beverages industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
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Sr. Consultant – Food and Beverages