Frozen Bakery Market Size, By Recipe (Bread, Viennoiserie, Patisserie, Savory Snacks, Others), By Product (Ready-to-Prove, Ready-to-Bake, Fully Baked), By End-User (Convenience Stores, Hypermarkets & Supermarkets, Artisans Bakers, Hotels, Restaurants, and

Frozen Bakery Market Size, By Recipe (Bread, Viennoiserie, Patisserie, Savory Snacks, Others), By Product (Ready-to-Prove, Ready-to-Bake, Fully Baked), By End-User (Convenience Stores, Hypermarkets & Supermarkets, Artisans Bakers, Hotels, Restaurants, and Catering (HORECA), Bakery Chains, Online Channels), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2023 - 2032

Frozen Bakery Market will grow considerably during 2023–2032, owing to an increasing consumption of frozen foods due to advantages such as convenience, variety, freshness, and easy storage. Increasing demand among consumers for healthier food and increasing sedentary lifestyles will support the industry outlook over the forecast period. Besides, growing retail channels across leading economies has raised the demand for frozen bakery goods. Moreover, after the pandemic, consumers have become more aware of their health and are willing to pay more to maintain healthy eating, pushing the growth of frozen bakery industry over the coming years. Strategic partnerships and acquisitions in frozen bakery business are expected to present lucrative opportunities for big brands. For instance, Ferrero Group in 2023 took over an Italian frozen bakery firm, Fresystem for an undisclosed transaction. The deal forms a part of the company’s strategic growth path in the high-potential segment of sweet out-of-home. Besides, it also helps consolidate Ferrero’s position in the Italian subcontinent, which remains a remunerative hub for business both in terms of market penetration and production. Overall, the frozen bakery industry is segmented in terms of recipe, product, end-user, and region. Based on the recipe, the patisserie segment is slated to be valued at over USD 22 billion by 2032. The growth will be driven by the growing pastry consumption in developed and developing economies, given the increasing number of bakery chains, food service restaurants, and hotels. By product, the ready-to-prove product segment will grow considerably during 2023-2032. These products are long-lasting, can be stored for a long time, and boast of low cooking time, all of which have mounted their use in making bakery items in restaurants, bakery chains, and fast-food joints. In terms of end-user, the convenience store segment is anticipated to be valued at over USD 4.5 billion during the estimated timeframe. Convenience stores offer easy availability of frozen bakery products and increased visibility to products displayed. Regionally, the North America frozen bakery industry will demonstrate sturdy growth through 2032. The regional market growth will be majorly accredited to the region's constantly budding demand for frozen foods. In addition, bread is one of the most consumed bakery products in the region. Besides, according to data published by the AFFI (American Frozen Food Institute), approximately 70% of Americans increased the purchase of frozen foods during the pandemic, as frozen meals were said to be a comfort for the masses.