Global frozen bread industry to reach $85.97 billion by 2033: FMI

The frozen baked goods market is expected to grow at a CAGR of 6.5% during 2023-2033. The market is projected to cross USD 85.97 billion by 2033 and is likely to reach USD 45.8 billion in 2023.

The revival of the bakery industry along with the young population opting for ready-to-eat food products are adding value to the market growth. Moreover, more bakeries that are renewing themselves with the latest bakery products and tools are driving the demand for frozen bakery products.
The growing popularity of gluten-free, organic bakery superfoods has gained traction in the market. New vendors experimenting with bakery products such as bread, pastry and toppings are also attracting their customers, expanding the industry regionally.
Bakery giants and major companies using bakery products such as McDonald’s, Domino’s Pizza and Pizza Hut are investing in Asian economies such as India and China, while promoting growth prospects.
The new cafe culture, with new concepts like burger cafes and pizza cafes, is experimenting with its menus, using new organic, gluten-free, healthy ingredients. Brands are reaching for frozen bakery products with longer shelf life and improved quality and texture.

Key points

The United States market is the leader in the frozen baked goods market in terms of market share in North America. Growth in this region is being driven by advanced food options, an evolving corporate food culture, and greater penetration of convenience foods.
The UK frozen baked goods market is another significant market in the European region. European packaged baked goods are known for their authenticity, taste and texture. This helps the market gain popularity in all countries in the region.
The Japanese frozen baked goods market is expected to grow at a healthy CAGR during the forecast period. The Asia Pacific region is witnessing higher foreign investments, greater influence of western food culture on the large population, and growth in per capita income.
Fully baked products are leading the segment with a CAGR of 7.5% from 2023 to 2033, due to their higher consumption and ease of use.
On the basis of sales channel, the online segment is growing at a CAGR of 6% during the forecast period. This is due to higher penetration of e-commerce platforms and easy shipping options.

Competitive Landscape

Key suppliers are working on experiments with dough, bread and additives. In addition, suppliers are working on increasing shelf life while maintaining quality and texture. Key competitors, as well as mergers, acquisitions and partnerships with other companies to increase their supply chain and distribution channel.

The major players in the market are Albany Molecular Research Inc., General Mills, Europastry, Comapan, Rich Products Corporation, Canada Bread Company, Don Maiz SAS, Patagonia Artisan Bakers, Vandemoortele, Aryzta AG, Kellogg Company, Conagra Brands, Associated British Food and Dr. Oetker

Latest market events

Oetker introduced new frozen bakery products such as frozen pizza, frozen mini cakes and easy-to-prepare waffles. In addition, the company also reviewed cake decorations, cake mixes and expanded its boundaries with a new brand called “My sweet Table”.
Conagra Brands has added one-pot meals and other bakery products such as frozen dough, pizza and toppings to its ready-to-eat offering.

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Market segmentation

Recipe Perspectives:

Bread
Vienna Region
Confectionery
Savory snacks

Product outlook:

Ready to prove
Ready to bake
Completely baked

End user perspective:

24-hour shops
Hypermarkets and Supermarkets
Artisan Bakers
Hotels, restaurants and catering (HORECA)
Bakery chains
Online channels

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, Stevie Award winner and member of the Greater New York Chamber of Commerce) offers in-depth insights into the factors driving market demand. FMI is a leading global provider of market intelligence, advisory services, consulting and events for the packaging, food and beverage, consumer technology, healthcare, industrial and chemical markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional and local expertise on various industry disciplines and trends in over 110 countries.

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