The global frozen bakery market size is expected to reach USD39bn by the end of 2032. The market will show a steady rise at above 7% CAGR between 2022 and 2032, according to a study by Future Market Insights, ESOMAR-certified and member of Greater New York Chamber of Commerce. As per the report, the rising demand for convenience food will stoke growth in the market.
The estimated value of the market was at USD19.1bn in 2020 and it is expected to show a steady pace of growth. Regionally, Europe emerged as a key market for frozen bakery. While retail continues to remain the most preferred channel of distribution, market players are soon expected to diversify, which would drive their focus to catering and industrial channels for distribution.
“In Europe, Germany has emerged as one of the most lucrative markets for frozen bakery. Surge in tourism and catering business has been giving impetus to growth witnessed in Europe. These trends are unlikely to change in the coming years, which will turn favour growth of the overall frozen bakery market in Europe,” says a senior research analyst at FMI.
Growth witnessed in the global frozen bakery market to a large extent is attributable to changing lifestyle of consumers. As life gets hectic and busier, consumers are finding it more and more difficult to invest time in cooking or home prepped meals. This creates an ideal environment for the sales of frozen bakery.
Source by: https://www.frozenfoodeurope.com/
