Market Insight
Market Research Future (MRFR) presumes that the specialty frozen bakery market 2020 can procure a growth rate of 4.45% from 2016 to 2022 (evaluation period). MRFR also anticipates the global market to touch USD 3,434 million by 2022. We will provide COVID-19 impact analysis with the report, along with an in-depth review post the coronavirus disease outbreak.
COVID-19 Specialty Frozen Bakery Market Analysis
COVID-19 analysis on the specialty frozen bakery industry by MRFR reveals that the global pandemic and the lockdown across the world have had significant implications on the product demand as well as supply. In the earlier stages following the COVID-19 outbreak, the food & beverage sector observed sharp spike in the demand for healthy food items, consumables with extended lifespan and household staples. Demand for frozen food products also noted considerable surge post the advent of the novel coronavirus. However, a number of firms in the specialty frozen bakery industry are facing weakened product demand along with supply chain issues, given the health scare among people with regard to SARS-CoV-2. The situation has prompted these vendors to focus more on bolstering their online presence as well as delivery measures, with the aim to adapt better to the current business scenario. In a nutshell, the e-commerce sector has emerged as one of the most favored options among firms as well as consumers to continue with business and purchases, respectively.
Renowned Companies
The MRFR study discusses the highly reputed vendors in the specialty frozen bakery industry and the key strategies that they employ to remain ahead of their rivals. Some of these vendors include Grupo Bimbo SAB de CV (Mexico), Il Germoglio Food Spa (Italy), Lantmannen Unibake (Denmark), UAB (Lithuania), Vandemoortele Bakery (France), Mantinga, Harry-Brot GmbH (Germany), Aryzta AG (Switzerland), Europastry Sa (Spain), Flowers Foods, Inc. (U.S.), Rich Products (U.S.), to name a few.
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Top Boosters and Challenges
The specialty bakery products market is zooming ahead on an upward trajectory and can achieve further success in the coming years, thanks to the rising consumer preference for a more convenient option compared to freshly made specialty bakery products. The fast economic surge noted across emerging nations and the resultant change in the dynamic between consumers and their buying preference, especially with regard to specialty goods, have been favorable for the market in recent years. Growth in the adoption of hectic lifestyles and the expanding female populace that is employed have also made specialty frozen bakery products quite popular.
The mounting health concerns among consumers has been an excellent opportunity for companies, who are now increasingly incorporating functional bakery ingredients like legumes, Oats, cereals, fortified margarine and probiotics in their product ranges to create more brand awareness. These evolving aspects in the global market are boosting the number of specialty frozen bakery outlets and shops worldwide. Also, the fact that specialty frozen bakery products are kept in extremely low temperatures to enhance their shelf life, fosters their demand among consumers who want to avoid making unnecessary visits to retail shops.
The demand for specialty frozen bakery products has escalated considerably among quick service restaurants as well as foodservices, which is yet another factor that can bolster the market position in the following years. The competitive scenario of the market is highly intense, given the presence of a vast number of players for foodservice channels and retail. Most of the renowned vendors concentrate on capturing a wider consumer base by launching exotic and innovative flavors, while also elevating the visual appeal of the product, by focusing on the packaging.
For instance, in September 2020, Focus Brands launched Frozen Breakfast Creations range, which comprises three sweet and three savory options, such as beef sausage and spicy cheddar pork covered with cinnamon sweet dough, cinnamon chip biscuit and tender fried chicken sandwich along with cinnamon sauce, and cinnamon pastry with the company’s signature frosting as the primary filling.
Market Segmentation
The specialty frozen bakery market has been dissected with respect to type, customer type and distribution channel.
The primary types of specialty frozen bakery products available in the market are sweet baked goods & morning goods, bread rolls & artisan loaves, savory, pizza crust, and more. In 2016, Bread rolls and artisan loaves, together with sweet baked goods and morning goods accounted for over 90% of the total share in the North American market. The growth rate of the sweet baked goods in the coming years is expected to be 3.85%, with the highest demand anticipated in North America. Consumers in the region are extremely fond of doughnuts, snack cakes, cookies, and various baked treats, which favors the segmental growth.
Customer types considered in the market study include industrial, home makers and more. Home maker segment could note better growth in the near future, with Europe capturing a substantial share and Germany and Italy in the lead.
The distribution channels discussed in the report are foodservice, QSR (quick service restaurants), convenience/independent retail, large retail, and more. Convenience/independent retail segment’s growth is expected to be higher compared to its counterparts, as a result of the soaring number of small-scale vendors in the specialty frozen bakery industry. MRFR confirms that the convenience/ independent retail form of distribution channel can obtain a growth rate of 4.89% between 2016 and 2022.
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Regional Outlook
Europe, Asia Pacific/APAC along with North America as well as RoW/the rest of the world are the primary markets for specialty frozen bakery around the world.
Artisanal bakery is quite popular in Europe, particularly in the United Kingdom, and the rising demand among consumers for products with high shelf life is further boosting the market growth. Consumers are increasingly opting for artisanal frozen baked products to boost the appeal of their kitchens, which has emerged as a lucrative opportunity for specialty frozen bakery market firms in the region to come up with new flavors and broaden their product range.
North Americans mostly prefer high-end and grab-and-go products for breakfast, which translates into a strong demand for specialty frozen bakery products. High availability of gluten-free goods and rising preference for “minis” and single packs among consumers who are generally time-pressed also favor the regional market. Several manufacturers in the United States such as Lenny & Larry’s, Muffin Revolution and more are noted for their innovative product ranges, while a handful of companies in the country continuously explore the opportunities that lie in the packaging segment.
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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