The frozen bakery products market is projected to reach USD 21.2 Billion by 2020, growing at a CAGR of 8.5% from 2015 to 2020, according to a report by MarketsandMarkets.
The global market for frozen bakery products reached USD13.0bn in 2014 and is projected to grow at a CAGR of 8.5% from 2015 to 2020. In 2014, the global consumption of frozen bakery products was 6.1 thousand metric tons, and is projected to grow at a competitive CAGR of 7.2% during the forecast period.
“The European region accounted for the largest share in the market for frozen bakery products in 2014. Frozen bread dominated the market in terms of value as well as volume in 2014. It is the fastest-growing frozen bakery product type, projected to grow at 8.2% CAGR during the forecast years, in terms of value. The market for frozen bakery products sold through catering is projected to grow at the highest CAGR of 10.1% from 2015 to 2020, owing to fast-growing global tourism and hospitality industry and increasing demands for frozen bakery products for easy-to-serve convenience,” states the report.
