The global frozen bakery products market is on the rise, expected to reach USD 29.5 billion by 2026 from USD 22.3 billion in 2021. Europe currently holds the largest share due to its large and established food processing industry. This strong foundation has fueled growth in the European baking industry, with frozen bakery products a key contributor.
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Cakes and pastries are the star performers, projected to be the fastest-growing segment. Consumers are increasingly drawn to convenient, ready-to-eat options, and single-serving frozen pastries perfectly fit the bill. Innovation is another driver, with bakeries launching new and exciting pastry products to meet this demand for premium, high-quality options.
When it comes to buying frozen baked goods, conventional stores reign supreme. Grocery stores, mass merchandisers, and even online retailers are the go-to destinations for these products. Easy accessibility and established shopping habits keep these stores at the forefront of the market.
For consumption types, ready-to-bake takes the top spot. These partially baked frozen products offer the best of both worlds: convenience and perceived freshness. Consumers feel they’re getting a bakery-quality product without the long prep time, making them more appealing than pre-baked options with a longer shelf life.
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The Asia Pacific region is poised for explosive growth, with the highest projected CAGR. Here, the younger generation’s preference for convenience food and rising disposable incomes are fueling the market.
Major players like Associated British Foods and General Mills are leading the charge, with mergers and acquisitions a key strategy. Investments are also being made in expanding production plants, particularly in emerging markets like China and India, to meet the growing demand.
