Global Market For Frozen Bakery Products Was $24.7 Billion In 2017
Tuesday, 04 Dec, 2018
In the coming years there is an increasing demand for Frozen Bakery Products in the regions of Europe, the biggest consumption market that is expected to drive the market for more Frozen Bakery Products. Increasing of foodservice expenditures, more-intense competition, launches in introducing new products, increasing of spending on foodservice industry, retrofitting and renovation of old technology will drive growth in United States and Europe markets.
The global market for frozen bakery products was $24.7 Billion in 2017. In 2017, the European region was the largest market for frozen bakery products. The high growth corresponds to the increasing demand for “thaw-and-serve” and “bake-off” products that offer convenience to not only households, but also to large retail, convenience & independent retail, foodservice, etc.. Frozen bakery products allow customers prepare food in a short period of time without requiring a pastry chef or a specialized oven. Other benefits include less food wastage as stores can bake based on demand, while keeping remaining products frozen and preserved. The wide applicability of these convenience frozen bakery products has led to its propelled growth in the forecast period.
Globally, the Frozen Bakery Products industry market is low concentrated as the manufacturing technology of Frozen Bakery Products is relatively matures than some high-tech equipment. And some enterprises, like Grupo Bimbo S.A.B. de C.V., Vandemoortele NV, Kellogg Company, Europastry, S.A, etc. are well-known for the wonderful performance of their Frozen Bakery Products and related services. At the same time, Europe, occupied 53% revenue market share in 2017, is remarkable in the global Frozen Bakery Products industry because of their market share and technology status of Frozen Bakery Products.
The consumption volume of Frozen Bakery Products is related to downstream industries and global economy. As there will always be some uncertain in the global economy in the following years, the growth rate of Frozen Bakery Products industry may not keep that fast. But it is surely forecasted that the market of Frozen Bakery Products is still promising.
The product average price declined in the past few years due to the technology development, the average price will keep the trend in the few future years due to increasing mature manufacturing technology and lowing cost of raw materials.
The impact on the cost and availability of raw materials and certain components is uncertain due to potential supply changes. The costs of raw materials have a significant impact on the level of expenses. If the prices of raw materials and related factors such as energy prices increase, and if new companies cannot pass those price increases on to customers, their results of operations and financial condition would suffer.
Although the market competition of Frozen Bakery Products is fierce globally, there are many enterprises can obtain considerable profit form the manufacturing and marketing of Frozen Bakery Products and that is the reason that we believe there will also be enterprises enter this market. But it is suggested that enterprises those have plans to enter this industry have careful analysis of this market and the advantages or disadvantages of themselves.