Northbrook, IL -- (SBWIRE) -- 11/10/2021 -- The overall frozen bakery products market is projected to grow from USD 22.3 billion in 2021 to USD 29.5 billion by 2026, at a CAGR of 5.8%. Frozen bakery products are increasingly becoming an integral part of the daily diet around the world, particularly in European countries. The busy lifestyle of consumers has contributed to the growth of the bread manufacturing industry to produce new products that could cater to the rise in demand from consumers. The increase in consumption of frozen bakery products in the emerging markets of Asia Pacific and Latin America has also led to a rise in the sales of frozen bakery products. The demand for frozen bakery products in developing regions is driven by the increase in disposable income.

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By distribution channel, the conventional stores segment is the fastest growing segment in the market during the forecast period

Conventional stores have the potential to be a prominent distributional channel for frozen bakery products. Niche retailers among these stores have also realized the opportunity to establish an effective retail chain. Earlier, these companies marketed their line of products only through exclusive stores situated in prime locations. However, these companies now understand the dynamic changes in consumer preferences for healthier food products. Hence, a majority of the companies are marketing their products across regions through all possible channels to ensure sustainability in the global market. Thus, distribution channels play a vital role in bridging the gap between key players of frozen bakery products and the end consumers in the market.

By form of consumption, ready-to-bake segment is the fastest growing segment in the market during the forecast period

Ready-to-bake segment is fastest growing due to the increase in demand for pre-baked products that take less time during the baking process and offer the facility of making fresh bakery products. The development of freezing technology offered the best-known preservation solutions for the bakery industry by increasing the shelf life of products. The incorporation of low-temperature freezing technologies has led to an increase in the commercial value of bakery products and shaped a new market for frozen bakery products.

The global market witnessed rapid growth with the development of new technologies, which resolves problems of short life span, increase in time consumption due to the production process, and enhancement of shelf life.

Increasing demand of healthy frozen bakery products due to customers shifting preferences and hence development of specialty frozen bakery products.

The specialty frozen bakery products market is projected to attain exponential growth in the future due to the increase in consumer preference as an alternative to unhealthy bakery products. The economic development in the emerging, as well as developed economies, has led to a highly dynamic market scenario of bakery products. The increase in health concerns among consumers has provided a lucrative growth opportunity for specialty bakery product manufacturers to introduce fortified, gluten-free, organic, low-calorie, and sugar-free products and develop a broad consumer base. These factors have led to an increase in the number of specialty bakery shops across the globe.

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Europe is projected to account for the largest market size during the forecast period

The Europe frozen bakery product market is projected to be the largest between 2021 and 2026, while the Asia Pacific market is projected to grow at the highest CAGR. Europe is the largest market for market, with 56.5% of the market share in 2020. With many of the member nations in the EU actively encouraging manufacturers to produce frozen bakery products, the market is projected to witness significant growth in the future. The market growth in Europe is driven largely by the well-established French bakery market.

The key service providers in this market include The key players in this market include Grupo Bimbo (Mexico), General Mills Inc. (US), Aryzta Ag (Switzerland), Europastry S.A. (Spain), Conagra Brands, Inc. (US), Associated British Foods Plc (UK), Kellogg Company (US), Lantmannen Unibake International (Denmark), Vandemoortele Nv (Belgium), Premier Foods Group Ltd. (UK), Cargill, Incorporated (US), Flowers Foods (GA), Bridgford Foods Corporation (US), Cole's Quality Foods Inc. (MI), and Dawn Food Products Inc (MI). These players are undertaking strategies such as new product developments and launches and divestments to improve their market positions and extend their competitive advantage.

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