North America Frozen Bakery Products Market Will Hit USD 12,960 Million By 2026: Facts & Factors

Frozen Bakery Products Market

Frozen Bakery Products Market

North America frozen bakery products market is anticipated to reach over USD 12,960 million by 2026, at a CAGR of 5.2% from 2020 to 2026.

NEW YORK, UNITED STATES, May 25, 2020 /EINPresswire.com/ — Facts and Factors has authored “North America Frozen Bakery Products Market By Source (Wheat, Rye, Barley, Corn, and Others), By Product Type (Cakes and Pastries, Bread, Donuts & Pies, Pizza, and Others), By Distribution Channel (Convenience Stores, Supermarket/Hypermarket, Bakery Stores, Food Service & Hospitality, and Others), and By Region: Global Industry Perspective, Market Size, Statistical Research, Market Intelligence, Comprehensive Analysis, Historical Trends, and Forecasts, 2019–2026”. Based on our analysis, the North America frozen bakery products market in 2019 is over USD 9,070 million and is anticipated to reach over USD 12,960 million by 2026. The projected CAGR for the North America frozen bakery products market is around 5.2% from 2020 to 2026.

The trend for frozen bakery products among North Americans is propelling considerably with time. This product segment is driving the regional food industry at a substantial rate. Currently, Americans and Canadians prefer baked ready-to-eatproducts such as cakes, cookies, donuts, and snacks owing to their tight schedules and hectic lifestyles. Moreover, frozen and refrigerated dough products are the principal ingredient used in producing institutional foods such as pizza.

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Some of the key players driving the North America frozen bakery products market are Europastry SA, Alpha Baking Co. Inc., Flower Foods Inc., ARYZTA, Grupo Bimbo S.A.B. de C.V, Associated British Foods PLC, Bridgford Foods Corporation, Lantmannen Unibake UK Ltd., Canada Bread Company Ltd., and General Mills Inc., among others.

KEY MARKET DRIVERS:

A significant shift to convenience foods eventually raises the demand for frozen bakery products in North America

As per the survey conducted by the University of Texas, 1 out of 5 Americans prefer eating in cars owing to a hectic schedule throughout the day. This is one of the key causes behind the incorporation of more processed and convenience foods in their diet. Even in the packaged processed foods, the people go with the refrigerated and frozen processed foods owing to the excellent taste preservation and prolonged shelf life. These aspects eventually bolster the regional frozen bakery products market. The rapidly expanding restaurant chains in the region, particularly in the US, are also one of the key factors that are thriving the convenience food trend in the region, which in turn fuels the frozen bakery products market.

Growing awareness for a nutritious diet

Food nutrition, packaging, and safety are the three major sectors in the food industry that are growing tremendously. Several frozen bakery products manufacturers and suppliers have been trying to implement food fortification strategies to sustain the nutritional value of the bakery products for longer periods to attract the customers, thereby pushing the segment in the overall food industry.

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DOMINATING CATEGORIES IN THE NORTH AMERICA FROZEN BAKERY PRODUCTS MARKET:

“Bread” category under the product segment is dominating in the market

As bread is the primary food item in the meal of almost all Americans, so it accounts for around one-third of the regional market share. With the growing shift to convenience foods, the demand for frozen bread products across the region is increasing at a considerable rate. Product portfolio expansion with the strategic launch of customized bakery products such as corn syrup with high fiber and less sodium & fructose content is likely to augment the customer base and eventually propels the regional market.

The U.S. dominates the regional market by capturing more than half of the market share

The rapidly altering lifestyles and the relatively higher disposable incomes in the country are the two key factors that have pushed the country to the dominating position in terms of revenue generation. Moreover, the U.S. frozen bakery products market is anticipated to grow at the fastest pace throughout the forecast period within the region.

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In December 2018, Georgia-based packed bakery products manufacturer & distributor, Flowers Foods Inc.,procured a gluten-free baked products manufacturer and supplier, Canyon Bakehouse LLC. At present, the Johnstown-based company serves as an independent arm of the parent industry.

North America frozen bakery products market is segmented as:

North America Frozen Bakery Products Market: Source Segmentation Analysis

Wheat
Rye
Barley
Corn
Others

North America Frozen Bakery Products Market: Product Type Segmentation Analysis

Cakes and Pastries
Bread
Donuts & Pies
Pizza
Others

North America Frozen Bakery Products Market: Distribution Channel Segmentation Analysis

Convenience Stores
Supermarket/Hypermarket
Bakery Stores
Food Service & Hospitality
Others

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Source: EIN Presswire