Canadian Frozen Bakery Market Poised to Hit USD4.1bn by 2025

frozen bakery

The Canadian frozen bakery market is set to grow from its current market value of more than USD2.8bn to over USD4.1bn by 2025, according to a new research report by Global Market Insights.

With the global frozen foods and bakery business deemed as one of the fastest growing segments of food and nutrition industry, the Canadian frozen bakery market, in recent years, has positioned itself well enough for lucrative investment trends. The rapid development in the Canadian multi-chain outlets and retail-sectors, thriving in the wake of the country’s economic growth and investment scenarios, have been identified as key drivers propelling Canada to hold a significant chunk in of the global frozen bakery industry. In fact, the small and multichain retailers account for over 90% of Canada’s market share and contribute nearly 30% to the nation’s GDP.

Innovation in the bakery food segment has become an important sales driver in the Canada frozen bakery market, given the increasing demand for food products to be suitable for specific dietary needs. The Canada frozen bakery market, in this regard, has rapidly diversified its major flour and starch ingredients with the rising popularity of the ready-to-bake, thawed, ready-to-prove, and fully baked products. It is should be mentioned that the ready-to-bake segment accounted for the largest Canada frozen bakery market share in terms of volume in 2017 and is further forecast to register a commendable CAGR of 5.5% over 2018-2024.

The Bread Segment Continues to Be Profitable

Accounting for more than 70% of the Canada frozen bakery market share in 2017, the bread segment is said to continue carving a profitable growth path in the years ahead. The growing demand for partially-baked, un-baked, and fully baked bread products have further fortified the segment growth. Another pivotal factor is the rising participation of the regional contenders in introducing new ingredient based, healthy, and innovative product ranges for customers with specific diet demands.

Apart from bread, the Canada frozen bakery market is segmented in terms of savory snacks, viennoiserie, and patisserie. Estimates claim that viennoiseries, comprising baguettes, croissants, chouquettes, and brioche, is emerging as another lucrative growth avenue for Canada frozen bakery market, having accounted for more that USD400m in 2017.

With Canada’s frozen bakery market becoming more fragmented with the growing availability of vast product ranges and myriad categories to choose from, artisan bakers are further expected to gain immense traction in the ensuing years. Furthermore, with veganism all set to gain the mainstream status in the years ahead, plant-based or vegan frozen bakeries are likely to become the potential areas of fast-growth in Canada frozen bakery industry. With robust food trends driving future investments in the region, the Canada frozen bakery market is forecast to cross USD4.1bn by 2024.

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