Frozen Bakery Products Market is Growing at a Healthy CAGR of 7.26% from 2021 to 2028

The global frozen bakery products market is expected to reach USD 53.36 billion by 2028, at a CAGR of 7.26% from 2021 to 2028.

NEWARK, UNITED STATES, NEW JERSEY, November 17, 2021 /EINPresswire.com/ — As per the report published by The Brainy Insights, the global frozen bakery products market is expected to reach USD 53.36 billion by 2028, at a CAGR of 7.26% from 2021 to 2028. Europe region is having the highest market value of USD 11.40 Billion in 2020. This is due to the fact that in Europe there is a great demand for the frozen bakery product, having extra ingredients, which benefits the health. North America had the second-largest market value of USD 9.77 Billion in 2020. People in this region focuses on the benefits in health provided by the added ingredient in the frozen bakery products. Asia Pacific is showing the highest CAGR in the forecasting period, due to the growing demand for frozen bakery products in the developing country like India.

Key players for the global frozen bakery products market include General Mills (Pillsburry), Aryzta AG, Grupo Bimbo S.A.B. de C.V., Europastry, S.A., LantmannenUnibake International, Associated British Foods plc, Flower Foods Inc., TreeHouse Foods, Inc., Dawn Foods Products Inc. and Vandemoortele NV among others.

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The product segment is divided into breads, pizza crust, cakes & pastries, doughnuts, waffles and cookies. Bread segment is accounted for the highest market value of USD 10.70 Billion in 2020. Bread is widely used in almost all across the world. There is still a great demand for bread in Italy, France and Germany. The source segment includes corn, wheat, barley, and rye. The Barley accounts for the highest market share of 31.89% in 2020. Barley and rye are most commonly used in the making of different kind of frozen bakery products. The end-user includes retail, foodservice industry, and food processing industry. The foodservice industry segment is accounted for the highest market value of USD 14.67 Billion in 2020. This is because frozen bakery products are in great demand by premium restaurants, cafes and big hotels, as it provides good quality product, better service at affordable price.

The distribution channel segment includes artisan baker, retail, catering, and online channel. The catering accounts for the highest market share of 36.48% in 2020. This is due to the fact that the catering sector caters to many places from the retail sector to the hotels, cafes, premium restaurants to five-star hotels.

The people in developed and some of the developing countries are now much more aware of their health; they mostly prefer healthy product for consumption. So they would prefer fresh baked products compared to frozen bakery products. This act as a restraint for the product.

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Source: EIN Presswire