Frozen Bakery Products Market Size, Share, and Analysis by 2031

The frozen bakery products market is projected to reach US$ 16.53 billion by 2031 from US$ 11.09 billion in 2023. The market is expected to register a CAGR of 5.1% during 2023–2031. The rising consumer preference for gluten-free products is likely to bring new trends into the market during the forecast period.

Frozen Bakery Products Market Analysis

The frozen bakery products market is experiencing steady growth, driven by increasing demand for convenience foods and the rise of busy lifestyles favoring ready-to-eat bakery products. The frozen bakery products market growth can be attributed to the busy lifestyles and high consumption rate of baked goods, along with an emphasis on convenience, which has spurred demand. Meanwhile, emerging economies are witnessing a growing interest in frozen bakery products due to urbanization and an expanding middle class. Furthermore, the expansion of e-commerce and online grocery platforms has facilitated the accessibility and availability of frozen bakery products. The growing need for frozen food products that are convenient and quickly prepared, including vegan and vegetarian options, is driving the demand for frozen bakery products.

Frozen Bakery Products Market Overview

Frozen bakery products, including bread, cakes, pastries, and pizza crusts, among others, offer consumers a wide range of choices that can be easily stored and prepared with minimal effort. The demand for frozen bakery products is strong, especially in urban areas, where consumers seek quick meal solutions without compromising taste or quality. Additionally, with an increasing focus on convenience and baking preparation, frozen bakery products provide a convenient option for consumers without extensive preparation or baking.

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Frozen Bakery Products Market: Strategic Insights

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Frozen Bakery Products Market Drivers and Opportunities

Increasing Product Innovations and Launches by Key Market Players

Consumers increasingly seek convenience, nutrition, and artisanal quality while preparing or purchasing baked goods, prompting manufacturers to enhance product quality and develop innovative products to cater to evolving consumer demands. Manufacturers are investing significantly in strategic development initiatives such as product innovation, research and development, mergers and acquisitions, and business expansion to attract a broad customer base and enhance their market position. In March 2021, Rudi’s Gluten-Free Bakery, in collaboration with Rudi’s Organic Bakery, launched Rudi’s Rocky Mountain Bakery—a frozen bread brand making small-batch, artisanal, and gourmet packaged baked goods. In August 2024, T. Marzetti Co. (a subsidiary of Lancaster Colony Corp) launched New York Bakery gluten-free frozen bread with a patent-pending formulation. This new frozen bread portfolio includes Garlic Texas Toast and Five Cheese Texas Toast. Innovative ingredient sourcing and processing approaches have allowed manufacturers to offer high-quality, allergen-free, and gluten-free baked goods that align with these dietary restrictions. For instance, in October 2022, Cappello’s introduced the Low Carb Lifestyle Uncured Pepperoni Pizza. This frozen pizza is gluten-free and keto-friendly, containing high-fiber and a crust crafted with turnips, flaxseed, and almond flour for health and diet-conscious consumers. Thus, increasing product innovations and launches by key players drive the frozen bakery products market.

Escalating Sales of Frozen Food Via E-Commerce Platforms

The emergence of e-commerce has transformed the way people shop and purchase food products. Increasing penetration of the Internet and smartphones, growing purchasing power of consumers, rising convenience provided by online retail shopping platforms, and rapid access to emerging technologies are among the key factors bolstering e-commerce sales. According to the US Department of Commerce Retail Indicator Division, e-commerce sales in the US reached US$ 870 billion in 2021, which is 14.2% more compared to 2020. Furthermore, online grocery sales increased by 170% in 2021 than 2020, accounting for 9.6% of total grocery sales in the US. The online sales of food and beverages were driven significantly during the COVID-19 outbreak due to the shutdown of brick-and-mortar stores and the imposition of several social restrictions by governments. Consumers continue to prefer buying frozen food via online retail channels. According to the “2023 Power of Frozen in Retail” by The Food Industry Association and the American Frozen Food Institute, the number of online grocery shoppers who purchase frozen food through e-commerce channels is rising significantly. The research also revealed that 86% of shoppers who bought groceries online purchased frozen products in 2023, indicating a rise of 82% in 2020 in the US.

Frozen Bakery Products Market Report Segmentation Analysis

Key segments that contributed to the derivation of the frozen bakery products market analysis are product type, category, and distribution channel.

• Based on product type, the market is segmented into bread and rolls, cakes and pastries, biscuits and cookies, and others. The bread and rolls segment held the largest share of the market in 2023.
• In terms of category, the market is bifurcated into gluten-free and conventional. The conventional segment dominated the market in 2023.
• Based on distribution channel, the market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. The supermarkets and hypermarkets segment dominated the market in 2023.

Frozen Bakery Products Market Share Analysis by Geography

The geographic scope of the frozen bakery products market is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

As per the research conducted by Tate & Lyle in November 2023, 45% of young people in Europe are buying baked goods daily, making it a part of their regular diet. In Europe, with busy lifestyles and limited time for meal preparation, frozen food offers a convenient and accessible solution for individuals. The availability of fresh produce is impacted by factors such as spoilage during transportation and warehousing, lack of domestic production, and high prices. As per the International Institute of Refrigeration, in Germany, the sales of frozen foods rose by 3.6% in volume to reach ~4 million metric tons in 2022. In the past few years, consumers have switched from fresh to frozen food due to food price inflation in the UK. The European retail sector is poised for robust growth, driven by the presence of major supermarkets such as ASDA, Metro AG, Mercadona, Aldi, J. Sainsbury, Auchan, Magnit, Intermarché, X5 Retail Group, E. Leclerc, Edeka-Gruppe, Carrefour, Tesco, Aldi, Rewe Group, and Schwarz Group. The significant presence of supermarkets in Europe creates lucrative opportunities for key market players to leverage the extensive store networks for product distribution. Thus, the rise in the preference for frozen food and the development of retail infrastructure are a few factors fueling the frozen bakery products market growth in the region.

Frozen Bakery Products Market Regional Insights

The regional trends and factors influencing the Frozen Bakery Products Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Frozen Bakery Products Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Frozen Bakery Products Market Report Scope

Frozen Bakery Products Market Players Density: Understanding Its Impact on Business Dynamics

The Frozen Bakery Products Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Frozen Bakery Products Market are:

1. Grupo Bimbo SAB de CV
2. Rhodes International Inc
3. General Mills Inc
4. Pepperidge Farm Inc
5. Bridgford Foods Corp
6. Conagra Brands Inc

Disclaimer: The companies listed above are not ranked in any particular order.

Frozen Bakery Products Market News and Recent Developments

The frozen bakery products market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few key developments in the frozen bakery products market are mentioned below:

• Conagra Brands Inc. entered into a partnership with Dolly Parton to develop a line of retail food items, including frozen products and refrigerated, grocery, and snack products. (Source: Conagra Brands Inc, Press Release, January 2024)
• T. Marzetti Company, a wholly-owned subsidiary of Lancaster Colony Corporation, launched its first-ever gluten-free line of New York Bakery frozen bread. This new offering features gluten-free versions of the brand's classic Garlic Texas Toast and Five Cheese Texas Toast. (Source: T. Marzetti Company, Newsletter, August 2024)

Frozen Bakery Products Market Report Coverage and Deliverables

The "Frozen Bakery Products Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:

• Frozen bakery products market share and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Frozen bakery products market trends, as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed Porter's Five Forces and SWOT analysis
• Frozen bakery products market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the frozen bakery products market
• Detailed company profiles