The frozen bakery market is estimated to reach $32,505.2 million by 2018, with a CAGR of 7.1% for the forecast period. In 2012, Europe led the frozen bakery market in terms of value, followed by North America and Asia-Pacific, according to information provided by MarketsandMarkets.
Frozen bakery is a growing industry in the food processing sector, as there is a huge demand for frozen bakery products, for instance, frozen bread, as fresh bread has a very short life span. A number of chemical and physical changes take place during its storage, deteriorating the freshness and quality of bread. The frozen bakery market is growing steadily with medium competition, with supermarkets and hypermarkets comprising of a greater percentage than artisan bakers. In recent years, the growth of coffee shop chains selling frozen bakery products has also increased the competition for other bakery outlets. According the report by MarketsandMarkets, there is an increasing trend towards specialty and continental frozen bakery products.
The supermarkets have been very successful in capturing a significant share of the frozen bakery market by selling different products made by chief plant bakeries at low prices and they have also introduced in-store bakeries producing specialty baked products. Frozen bakery products have grown in popularity due to their ease of preparation and the time and cost savings that they provide to other institutional outlets. Good potential for market growth in some countries and the number of varying products provide tremendous opportunity for the producers to get involved in the frozen bakery market. More information on the report can be found at http://www.marketsandmarkets.com/Market-Reports/frozen-bakery-market-789.html