Report : Asia Pacific Frozen Bakery Products Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Ingredient type (Lutein and Zeaxanthin, Antioxidants, Omega-3 fatty acids, Coenzyme Q10, Flavonoids, Astaxanthin, Alpha-Lipoic acid, Others); Indication (Age-related macular degeneration (AMD), Cataract, Dry eye syndrome, Others); and Form (Tablet, Capsule, Drops), and Countries
According to the latest market study on “Asia Pacific Frozen Bakery Products Market Forecast to 2027 – COVID-19 Impact and Analysis – by Product (Bread, Pizza Crust, Cakes and Pastries, Waffles, Donuts, and Cookies), Source (Corn, Wheat, Barley, and Rye), End Use (Retail, Food Service Industry, and Food Processing Industry), and Distribution Channel (Bakery and Confectionery, Retail, Catering, and Online Channel),” the market was valued at US$ 6,917.58 million in 2019 and is projected to reach US$ 10,409.81 million by 2027; it is expected to grow at a CAGR of 5.6% during 2020–2027. The report provides understanding on the key factors driving the market growth and highlights the prominent players with their developments in the market.
Frozen bakery products are fully or partially baked food items. Bread, pizza crusts, waffles, pastries, cookies, and donuts are a few examples of frozen and convenience bakery products. In addition to employing the freezing technique, the use of preservatives allows the storage of these products for longer periods. Sara Lee, an American consumer good company, introduced frozen bakery products for the first time in the market. The working population in developed and developing countries in Asia Pacific is increasing exponentially, and they prefer ready-to-cook and ready-to-eat foodstuffs for convenience. Moreover, advancements in the food & beverages industry, improvements in economic conditions, and increasing consumption of ready-to-eat food items are the other key factors escalating the demand for ready-to-cook foodstuffs, including frozen bakery products. Also, with the diversification of distribution channels, the frozen bakery products are being sold in retail outlets, convenience stores, supermarkets, and daily need stores—which facilitates the easy availability of these products. Also, the introduction of frozen bakery products with longer shelf-life bolsters the growth of the market.
The COVID-19 pandemic was first reported in Wuhan (China) in December 2019. As of 28th October 2020, India has the highest number of the COVID-19 cases across Asia Pacific. The Airports Council International (ACI) Asia-Pacific warned that the prolonged duration of this crisis would hinder the airports’ connectivity and economic sustainability that would restrict them from achieving previously estimated growth prospects. The pandemic has adversely affected the food & beverages industry. The shutdown of various public facilities and imposition of lockdowns by governments, and the consequent disruptions in supply chain have restricted the supply of food products, which has affected the APAC frozen products market revenue.
The Asia Pacific frozen bakery products market comprises several well-established players such as Ajinomoto Co. Inc; Aryzta AG.; Associated British Foods Plc.; Conagra Brands, Inc.; Dawn Food Products Inc.; Europastry S.A.; General Mills Inc.; and Lantmannen and Mccain Foods Limited.
Report Segments Asia Pacific Frozen Bakery Products Market as Follows:
By Product Type
By End Use
By Distribution Channel
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