Global Frozen Bakery Products Market is likely to be valued at USD 24,527.3 Million by 2026, expanding at a 7.50% CAGR during the forecast period. The changing lifestyles, evolving dietary patterns, and availability of convenience food are factors that play an important role in defining the consumer’s food choices. Due to changing lifestyles, consumers are spending less time planning and cooking meals at home, as they consider preparing food at home to be a time and energy-consuming process. The increasing consumption of convenience food is driven by the need to create more leisure time, which means that consumers look for options that would help them maximize their free time, doing the things they value more. This, along with the increasing per capita disposable income, is expected to increase the demand for Frozen Bakery Products Industry.
Global Frozen Bakery Products Market has witnessed significant growth over the last few years and is projected to register a 7.50% CAGR during the forecast period. The key drivers fueling the growth of the global frozen bakery products market are the rising demand for convenience food, the increasing number of working women, and the rapid growth of the organized retail sector. However, the high price of the products is set to curb the growth of the global frozen bakery products market.
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Based on Product Type, the Global Frozen Bakery Products Market has been divided into breads & rolls, pizza & pizza crust, cakes & pastries, cookies & biscuits, others. The breads & rolls segment has accounted for the significant market share in the global frozen bakery products market in 2019 and projected to retain its dominance throughout the forecast period of 2020–2026. However, the pizza & pizza crust segment is projected to witness the highest CAGR of 7.96% during the forecast period.
Market Research Future identified Grupo Bimbo S.A.B.de C.V.(Mexico), Conagra Brands, Inc.(US), Associated British Foods PLC (UK), General Mills Inc. (US), Lantmännen Unibake (Denmark), Kellogg Company (US), Aryzta AG (Switzerland), Vandemoortele NV (Belgium), Europastry S.A. (Spain), and Cole’s Quality Food Inc.(US) as the Key Players in the global frozen bakery products market.
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Geographically, the global frozen bakery products market has been categorized as North America, Europe, Asia-Pacific, and the rest of the world. As per MRFR analysis, Europe dominated the market, accounting for the largest share in 2019. North America frozen bakery products market accounted for the second-largest market share in 2018. Asia-Pacific is projected to register the highest CAGR of 8.10% during the forecast period.
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