ID: MRFR/F-B & N/2030-CR | 167 Pages | Published By Varsha More on May 2017
Specialty frozen bakery market will grow USD 6,201.8 million with a CAGR of 8% during the forecast (2022-2030).
The global specialty frozen bakery market is projected to reach approximately USD 6,201.8 million by 2030, at a CAGR of 8% from 2022 to 2030. For today's busy millennials, specialty frozen foods have become a vital component of the modern diet. Due to considerations such as convenience, quickness of preparation, simplicity of product availability, and low pricing, demand for frozen, ready-to-eat food items have increased significantly. Additionally, the specialty frozen bakery market's revenue will increase due to the growing popularity of fast food items. Specialty frozen bakeries don't need a complex facility with specialized equipment, only a simple proofer or oven. The market for specialty frozen bakery products is projected to rise due to the rising number of professional bakers and the popularity of convenience foods. Well-known fast food chains, bakeries, cafes, and coffee shops can be found in the specialty frozen bakery industry. The potential provided by specialty frozen bakery items—which include a large selection of products, improved comfort, and availability—is being promptly seized by these places of sale. Specialty frozen and fresh baked foods are options for those searching for quick, on-the-go snacks.
COVID-19 Impact Analysis
The coronavirus outbreak brought attention to the need for hygienic and shelf-stable packaged goods in disease prevention. The pandemic has resulted in the adoption of various best-practice models for the specialty frozen bakery business. From a storage and distribution standpoint, this industry has had to deal with previously unheard-of levels of demand from producers, sellers, and customers, especially for goods like specialty frozen bakery products. Due to a sudden increase in demand, many bakery businesses have already started to alter their business plans. Customers choose practical, healthy, and hygienic products per changing social distance norms. This process has enhanced consumer appetite for frozen foods as specialty frozen bakery products have begun to appear more often on shop shelves and as consumers stockpile frozen and shelf-stable meals in anticipation of a large outbreak.
Since more consumers are choosing specialty frozen bakery products as a healthier alternative to traditional baked goods, the market for these products is expected to rise exponentially in the coming years. An extremely dynamic market environment for bakery products has resulted in economic growth in both emerging and mature economies. Manufacturers of specialty bakery products now have a lucrative opportunity to expand as they introduce fortified, gluten-free, organic, low-calorie, and sugar-free products and attract a large customer base. This is due to the rise in consumer health concerns. The number of specialty bakery stores has grown due to these factors.
The fast-food industry has grown due to improvements in food preparation techniques. The growth of the specialty frozen bakery market will be fueled by the rise of quick-service restaurants for people who don't have time to cook meals at home. The increased acceptance of eating on the go goes hand in hand with the rise in the popularity of prepared foods. Ready-to-eat meals will continue to grow in popularity as lifestyles get busier and more stressful, supporting the market forecast. The rise of the business has been aided by the creation of retail channels such as supermarkets, hypermarkets, convenience stores, and specialized shops.
When buying bakery goods, most customers say that freshness is more essential than price. A sizable portion of the populace avoids ready-to-eat or precooked foods because they believe packaged or frozen food is unhealthy. This group's growing preference for freshly baked goods could become a significant barrier to the market's expansion. To avoid this, businesses must incorporate customer-friendly tactics into their value proposition and make freshness a key component.
The invention of a technique known as the individual quick-frozen (IQF) method is largely responsible for creating high-quality frozen bakery items. IQF is a type of freezing that prevents the formation of big ice crystals in food products. Large ice crystals created during traditional freezing can harm cells and crystal fibers, causing the food products to dry out. However, IQF meals generate tiny ice crystals that protect the food's fibers from damage. The specialty frozen bakery market's growth is anticipated to benefit from this technology.
Based on type, the global specialty frozen bakery market is segmented into bread rolls & artisan bread loaves and sweet baked goods & morning goods. The bread rolls & artisan bread loaves category dominated the market share in 2021. The expanding bread consumption worldwide, the growing inclination toward fast food coupled with shifting lifestyles, and the rise of QSRs and chains of ready-to-eat stores are important factors influencing this category's significant market share. Besides this, the frozen whole-cut category is the fastest-growing segment. The popularity of cakes and pastries at various gatherings promotes the expansion of the sweet baked goods and morning goods market.
By Customer Type
Based on customer type, the global specialty frozen bakery market is divided into homemakers, industrial, and others. The industrial category had a prominent share in 2021. Specialty frozen bakery products are often employed in five-star hotels and upscale restaurants to enhance meal service and boost revenues. The industry expansion of this category would be driven by rising consumer demand for diverse menus and product combinations across hotels and catering companies.
By Distribution Channel
Based on distribution channel, the global specialty frozen bakery market is divided into quick service restaurants, food service, large retail, and convenience/independent retail. The quick-service restaurant category had a prominent share in 2021. This quick-service restaurant category's sizable market share is influenced by various fundamental variables, including changing lifestyles and a growing propensity for fast food. Besides this, the convenience/independent retail category is the fastest growing. A significant distribution channel for frozen baked goods could be convenience/independent retails, as some of these stores' niche retailers have also recognized the chance to create a successful retail chain.Regional Analysis
By region, the global specialty frozen bakery market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. Europe accounted for the most extensive market share. Asia-Pacific is projected to exhibit the highest CAGR during the review period.
In 2021, Europe's specialty frozen bakery market had the largest share due to the region's population's enormous demand for specialty frozen bakery products, specialty frozen bakery products has been their main source of food for many years, the region's well-established cold chain, the rising preference for innovative food products brought on by high levels of human development, and the presence of numerous key players. In European nations, specialty frozen bakery goods are quickly becoming a staple of the everyday diet. The market will grow significantly in the future due to the active encouragement from many E.U. member states to producers of specialty frozen bakery items. The established French bakery business is a major factor in the industry's growth in Europe.
The Asia-Pacific specialty frozen bakery market is anticipated to have the fastest growth rate. The food and beverage sector greatly aided the market expansion in this region. The market is expanding significantly due to increased earnings, population growth, and urbanization. According to projections, these elements will encourage the expansion of specialist markets, such as those for gourmet frozen bakery goods. The growing demand for convenience food items in developing nations like India, China, Japan, and Australia is driving the market. China held the greatest market share for specialty frozen bakery items in Asia.
The market includes tier-1, tier-2, and local players. The tier-1 and tier-2 players have global reach with diverse product portfolios. Due to product differentiation, companies such as Germoglio Food Spa, Aryzta AG, Mantinga UAB, Flowers Foods Inc., and Harry-Brot GmbH dominate the global specialty frozen bakery market with strategic developments, financial stability and diversified regional presence. The players are concentrating on supporting research and development. They embrace strategic growth initiatives, such as development, product introduction, joint ventures, and partnerships, to strengthen their market position and capture an extensive customer base. For instance, in June 2021, in Burlington, Vermont, KoffeeKup Bakery Inc. sold its assets to Flowers Foods. The company anticipates that the acquisition will accelerate market expansion in Northeast America. The deal also includes the Koffee Kup Bakery and Vermont Bread Company brands and three shuttered bakeries in North Grosvenor Dale, Connecticut, and Burlington, Vermont. Furthermore, in January 2021, the dessert Croiloaf, created by Europastry, S.A., features three butter croissants and is topped with a syrup drizzle and sugar pearls, making it the ideal option for customers.
Prominent players in the global specialty frozen bakery market include Il Germoglio Food Spa (Italy), Aryzta AG (Switzerland), Mantinga UAB (Lithuania)), Flowers Foods Inc. (USA), Harry-Brot GmbH (Germany), Rich Products (USA), Europastry Sa (Spain), Lantmannen Unibake (Denmark), Vandemoortele Bakery (France), and Grupo Bimbo SAB de CV (Mexico).
Scope of the Report
Global Specialty Frozen Bakery Market, by Type
Global Specialty Frozen Bakery Market, by Customer Type
Global Specialty Frozen Bakery Market, by Distribution Channel
Global Specialty Frozen Bakery Market, by Region
Objectives of the Study
The objectives of the study are summarized in 5 stages. They are as mentioned below:
Market Size and Forecast:
To identify and estimate the market size for the global specialty frozen bakery market segmented by type, customer type, and distribution channel by value (in US dollars). Also, to understand the consumption/ demand created by consumers of specialty frozen bakeries between 2022 and 2030
To identify and infer the drivers, restraints, opportunities, and challenges for the global specialty frozen bakery market
Market Influencing Factors:
To find out the factors which are affecting the sales of specialty frozen bakeries among consumers
Impact of COVID-19:
To identify and understand the various factors involved in the global specialty frozen bakery market affected by the pandemic
To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company in the past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.
|Market Size||USD 6,201.8 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Type, Customer-Type, Distribution Channel, and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Germoglio Food Spa (Italy), Aryzta AG (Switzerland), Mantinga UAB (Lithuania)), Flowers Foods Inc. (USA), Harry-Brot GmbH (Germany), Rich Products (USA), Europastry Sa (Spain), Lantmannen Unibake (Denmark), Vandemoortele Bakery (France), and Grupo Bimbo SAB de CV (Mexico)|
|Key Market Opportunities||Adoption of individual quick frozen (IQF) technology to maintain the freshness of specialty frozen bakery products, Spurred the demand for healthy sugar-free, and gluten-free bakery products|
|Key Market Drivers||Rising demand for convenience food products, Developing retail channels in emerging nations, Superior properties of specialty frozen baked products|
Specialty frozen bakery market valuation would be USD 6,201.8 million.
Specialty frozen bakery market CAGR would be 8% during the forecast period.
Specialty frozen bakery market players would be Flowers Foods, Inc. (U.S.), Rich Products (U.S.), Aryzta AG (Switzerland), Grupo Bimbo SAB de CV (Mexico), Lantmannen Unibake (Denmark), Europastry Sa (Spain), Vandemoortele Bakery (France), Mantinga, UAB (Lithuania), Harry-Brot GmbH (Germany), and Il Germoglio Food Spa (Italy).
The convenience/individual retail segment would lead the specialty frozen bakery market.
Sweet baked goods & morning goods would drive the North American specialty frozen bakery market ahead.