Asia-Pacific Frozen Bakery Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Asia-Pacific Frozen Bakery Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The Asia-Pacific frozen bakery market is projected to record a CAGR of 8.6% during the forecast period (2022-2027).

The market's growth is fuelled by hectic schedules and growing awareness about the nutritional facts among the Asian population. The frozen bakery market has grown considerably in recent times. It is projected to continue growing during the forecast period. However, with the widespread of COVID-19, people are conscious about their health and consume quality products. In Asia-Pacific, various small-scale manufacturers use sugar, with high-calorie values and shortenings rich in unhealthy saturated fats, to produce frozen bakery products. The incorporation of these ingredients is reducing the sales volume of frozen bakery products. In 2021, General Mills Inc. announced the launch of its six latest Pillsbury products in its frozen bakery product line. The Pillsbury Monkey Bread contains pre-cut dough with each kit and a sweet cinnamon sauce pouch with 10 grams of sugar, 200 calories, and 3 grams of protein.

Bakery products, such as bread, are the most common food. Factors such as availability, ease of use, product variation, and quality demand are the key factors leading frozen bakery suppliers to expand their chain across the region. The frozen bakery market grew due to the lifestyle of the Asian population. These products can be prepared conveniently, as they need less time for baking and cooking. Therefore, the demand for frozen bakery products is rising in Asia-Pacific.

The frozen bakery market is driven by giant manufacturers producing less sugar, low carb, low-fat products with innovations in terms of taste and flavor due to the diverse tastes and preferences of Asian customers. However, the frozen bakery market in Asia-Pacific is growing every day due to the rising number of quick-service restaurants, hotels, bars, and cafes, which offer frozen bakery. Thus, incorporating innovative ingredients or improvising the formulations in frozen bakery food items is economically and technologically accelerating the market's growth.

With the changing lifestyles, the demand for convenience foods is expected to increase faster during the forecast period. Among all other frozen bakery products, convenience food commodities are the most preferred product in Asia-Pacific. The shelf life of bakery products is mostly characterized by the onset of staling formed by microbial spoilage. Staling is marked by many physicochemical changes such as alterations in taste and aroma, increased crumb hardness, crumb opacity, starch crystallization, and staling formed by microbial spoilage. Other factors affecting shelf life are crystallization, grittiness, and spoilage of the flavors and odors due to moisture migration. Moreover, the latest development in the food and beverages sector, enhanced economic conditions, and rising consumption of ready-to-eat food products are the major factors escalating the demand for frozen bakery food items in Asia-Pacific. Consumers in Asia-Pacific are becoming health conscious, resulting in high demand for gluten-free, low-calorie, and sugar-free convenience frozen food products.

Due to consumers’ busy lifestyles, there has been a rise in the popularity of convenient food products in India. This popularity has fuelled the demand for frozen bakery products. Muffins, puffs, and other savory products are also gaining popularity as younger populations often visit independent bakeries to relish snacks. The market is expected to grow with increasing global tourism, the growing hospitality industry, and the increasing demand for frozen bakery products due to convenience. These products offer instant satisfaction with retention of both freshness and quality. However, consumers are conscious of brands while purchasing frozen bakery products, inclining toward the popularity of the brands. With the influx of several brands for pizza and burgers, like Burger King, Domino’s, KFC, and Pizza Hut, there has been a shift in the preferences for these products due to their brand value, thus boosting the market’s growth in India.

The market is highly competitive, with the substantial presence of numerous global and regional players. The key players in the Asia-Pacific frozen bakery market are McCain Foods Limited, Lantmannen, Conagra Brands Inc., Ajinomoto Co. Inc., and General Mills, Inc. The global companies have been actively involved in foodservice channels to provide various frozen bakery products in ready-to-bake and ready-to-prove forms, easing the making of the final product. Advanced distribution network and manufacturing expertise give an upper edge to the manufacturers to expand their range of products across Asia-Pacific.

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