Frozen Bakery Market Revenue Forecast Report: Size, Share, Recent Trends, Strategic Developments, Segmentation Analysis, and Evolving Opportunities, 2023–2030

Market Overview

The frozen bakery market revenue has been estimated at USD 23.8 billion (E) in 2023, and it will advance at 5.3% CAGR during 2023–2030, to reach USD 34.3 billion by 2030.

The growth of the market is attributed to the increasing fondness for convenience foods and the rising popularity of frozen bakery products all over the world. In turn, the increasing popularity of frozen bakery products is because of their ease of preparation, widespread availability, and low cost. Such products are also higher in demand compared to traditional foods because of their longer shelf life.

 

These products offer speedy cooking, while retaining freshness and taste. Businesses have profited by distributing these products to numerous food establishments, including coffee chains, in-store bakeries, quick-service restaurants, and gas stations. Moreover, these products are accessible throughout the year because freezing prevents spoilage, and hence, they can be stored in cold warehouses for months at a stretch.

Surging Need for Convenience Food Products Is Key Market Driver

The surging customer fondness for convenience food products increases the need for frozen baked goods as they necessitate less effort and time in cooking. The demand for processed food is boosted by the growing requirement for convenience because of the busy consumer lifestyles. Additionally, the rapid advancement of the frozen food sector because of the rapidly rising number of urban households in emerging economies is expected to boost the market advance.

The booming trend of between-meal snacking and the rising per capita income are other major factors raising the demand for frozen bakery products. The expansion of convenience stores, specialty stores, and supermarkets & hypermarkets has further promoted the progress of the market.

Frozen Pizzas Lead Market

Based on product, frozen pizzas Are the largest category in 2023, because of the mounting consumption of these products in Western nations, including Germany, France, Spain, and Mexico, as well as in Asian nations, including India, China, and Japan. Frozen pizza meets the need for convenient and quick food, primarily for the working populace. Furthermore, the arrival of specialty pizzas, for instance, gluten and dairy-free variants, is likely to boost the progress of this category.

Ready-To-Bake Category Accounts for Fastest Growth

Based on form, the ready-to-bake category is witnessing the fastest growth, because of the surging need for pre-baked products, which require less time to bake and provide the ability to make fresh-tasting dishes. The advancement of freezing technology has provided solutions to the bakery industry to enhance the products’ shelf life.

The integration of low-temperature storage technologies has resulted in a rise in the commercial value of bakery goods and formed a new market for them. The global industry has observed swift advances as a result of the arrival of innovative technologies, which reduce cooking time and increase shelf life.

Supermarkets & Hypermarkets Are Major Distribution Channels

The supermarkets & hypermarkets category, based on distribution channel, is the largest contributor to the frozen bakery market, and it is expected to remain the largest throughout the projection period. This is mainly because the majority of the consumers favor a proper examination of products in person, for authenticity, variety, and content, before buying.

The online category is expected to advance at a considerable rate during the forecast period. This is primarily because of the surging internet connectivity, mounting smartphone utilization, and convenience provided by e-commerce platforms. As per the International Telecommunication Union, in 2022, approximately 5.3 billion individuals, or around 66% of the earth’s 8-billion population, were using the internet. Thus, the ease of shopping from home, appealing discounts and offers provided online, and surging usage of the internet are boosting the growth of the online category.

Frozen Bakery Market Report Coverage

Report Attribute	Details
Market Size in 2023	USD 23.8 Billion (E)
Revenue Forecast in 2030	USD 34.3 Billion
Growth Rate	5.3% CAGR
Historical Years	2017-2022
Forecast Years	2023-2030
Report Scope	Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling

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Europe Is Market Leader 

Europe is the largest consumer of frozen bakery products in the world. The development of the tourism and catering industry in Italy, the U.K., and Germany offers significant opportunities to the market. Moreover, customers favor convenient and ready-to-eat goods in breakfast, which has increased the product requirement. Additionally, the introduction of gluten-free baked products for health-conscious customers has further boosted the expansion of the regional market.

Further, the continent has a rich tradition of patisseries, confectionaries, and bakeries, with items such as pizzas, artisan breads, pies, and stuffed choux and puff pastries prized in regional cuisines. Similarly, baked desserts, especially cakes and brownies, are loved by Europeans, and their frozen, ready-to-eat variants make it easier for people with busy lives to have them on the go.

APAC is likely to observe the fastest growth during 2024–2030, because of the booming economies, increasing disposable income, and surging number of people with hectic lifestyles. Further, the increasing working population of females has changed the traditional household dynamics, leading to a considerable surge in the fondness for convenience and ready-to-eat products.

For example, according to the Periodic Labour Force Survey, the labor force participation rate in women of age 15 years and more in India was 32.5% during 2020–2021 and 32.8% during 2021–22. Further, Western food concepts, such as croissants, pizzas, hotdogs, pastries and patties, and burgers, are finding an expanding consumer base in the region, especially with the trend of on-the-go snacking. This is a result of the strong influence of lifestyle magazines, social media, aggressive product marketing, and cookery shows centered on the European and North American cultures.

The North American frozen bakery market is the second-highest revenue contributor in 2023. Frozen bakery goods have a better shelf life compared to conventional goods, which has boosted customers' attention to such products in the continent. Additionally, players in the region are offering products with minimal artificial preservatives and more of organic and healthy ingredients.

Additionally, the surging fondness for superior convenience food across North America is a key factor boosting frozen bakery product demand. People here have almost no time to cook a healthy breakfast or to grab a freshly cooked snack. This is especially true of those living in major urban agglomerations, such as New York City, Los Angeles, San Francisco, Detroit, Chicago, and Miami. This drives the demand for pre-cooked food products that can simply be warmed up in the oven, for instant consumption.

Key Companies in Frozen Bakery Market

• Kellogg Co.
• Archer–Daniels–Midland Company
• Cargill Incorporated
• Conagra Brands Inc.
• Palsgaard A/S
• Puratos Group
• Custom Foods Inc.
• ConAgra Foods Inc.
• Safinco NV
• Bridgford Industries Inc.
• Sensient Technologies Corporation
• Kerry Group plc
• Lonza Group Ltd.
• David Michael & Co. Inc.
• General Mills Inc.
• Cole’s Quality Foods Inc.
• EUROPASTRY S.A.
• Flowers Foods