The US frozen bakery market is anticipated to witness significant growth over the coming years primarily due to the region’s swiftly growing hotel industry. Large scale restaurants and hotels prefer frozen doughs for cooking since it can conveniently help meet the demand for desired bakery items and food products.
The increasing popularity of convenience food across the US would foster the market size through the forthcoming years. Based on the aforementioned factors, Global Market Insights, Inc., estimates the US frozen bakery market is likely to surpass a valuation of USD9.3bn through 2024. However, the inadequate freezing process could damage the food structure, impacting product adoption, and market growth.
Here are the top 3 trends fueling the frozen bakery market of US:
The growing popularity of ready to bake products – Ready to bake products are among the fastest-growing segments in the frozen bakery industry. Shifting customer preference to consume convenience food products has expediated product demand. Frozen bakery products exhibit a longer shelf life and can effectively preserve taste. Ready to bake food items provide commercial advantages of fresh baked foods along with lesser operational expenses. These products also enable outlets to provide a diverse range of quality bakery products with minimum labor requirements.
Rise in demand for bread across the US – Bread is a staple food item in the US and has found numerous applications in various food products. In 2017, the bread recipe segment held for the largest share in U.S. frozen bakery market. The segment is projected to foresee the highest CAGR over the coming years owing to growing demand. Fast-food chains are increasingly relying on bread as to consumers changing lifestyles and eating habits. Bread is a fundamental part of several bakery products and is expected to drive U.S. frozen bakery market share through 2024.
New supermarkets and hypermarkets – Hypermarkets and supermarkets end-user segment accounted for the highest industry share in 2017 and is likely to stay at the forefront over the coming years owing to growing urban population in the U.S. Apart from hypermarkets and supermarkets, the foodservice (Hotel, Restaurant, and Cafe) end-user segment might witness significant growth in the coming years due to the fast-paced life of the local population.