Global Covid-19 Impact on Specialty Frozen Bakery Market is estimated to reach USD 3,434 million representing 4.45 % CAGR growth by the end of forecast period of 2022. Specialty frozen bakery products are artisan bakery products which are refrigerated to cold temperatures for storage and transport which increases their shelf life. Covid-19 Impact on Specialty Frozen Bakery Market is expected to generate 209,530 tons of products with a CAGR growth of 3.46 % in terms of volume.
Increasing preference for artisanal bakery products, development of newer flavors and growing number of high end bakery shops, urbanization are other drivers of the market.
The drivers of the market are increase in demand due to rising incomes and lifestyle changes, growing network of quick service restaurants and foodservices web apps, demand for variety of bakery which are not available locally, growing awareness for healthy foods and others. The developments of global air conditioned supply chains and trucking is a prime driver of the market.
The negative effects such as changes in the texture of the bakery products due to freezing and the high costs associated due to additional processing are the greatest restraint on the market. Value addition is the best strategy in the market. Technological improvements such as freeze drying will lead to highest value addition. The partially baked frozen method has been developed to overcome the drawbacks of specialty frozen bakery. The partially baked frozen products need to be re-baked, which results in denser structure, lower volume, and a harder crumb. Freezing raw semi-finished products such as dough is another techniques that has been tried. Thus technological innovations are expected to reduce the intensity of drawbacks associated with the products.
Leading Key Players Strategy
The Leading Market Players in the Global Covid-19 Impact on Specialty Frozen Bakery Market are Aryzta AG (Switzerland), LANTMANNEN UNIBAKE (Denmark), Harry-BROT GmbH (Germany), VANDEMOORTELE Bakery (France), MANTINGA, UAB (Lithuania), Flowers Foods, Inc. (U.S.), Rich Products (U.S.), Grupo Bimbo SAB de CV (Mexico), EUROPASTRY Sa (Spain), and GERMOGLIO Food Spa (Italy) and others.
Europe holds the largest market share in terms of value led by the traditional bakery producing regions of Switzerland, Germany, France, Poland, and others. Another market to watch is Turkey, which has a history of bakery. Specialty Frozen Bakery Industry is expected to shift towards North America due to growing popularity and presence of excellent infrastructure and supply chains. The U.S. is expected to drive the market due to its larger buying power and income. The Latin American regions of Argentina, Mexico, Chile and other are also expected to generate high growth.
Specialty Frozen Bakery industry is expected to be led by Japan, China, and India. The growing tourism industry is also a strong driver of the market in the Asia Pacific region. The lower consumption of wheat is a restraint on the Asia Pacific regions. The Middle East and Africa regions are expected to demonstrate a high CAGR growth due to the high wealth and consumption of wheat and bakery products.
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Type - bread rolls & artisan loaves, sweet baked goods & morning goods, pizza crust, savory & other
Customer Type - Home makers, Industrial, Others
Distribution Channel - quick service restaurants, foodservice, large retail, convenience / independent retail, and others. Quick-service restaurants and foodservice holds the largest Covid-19 Impact on Specialty Frozen Bakery Market share by value of greater than 45% in 2016. However, the convenience /independent retail segment is expected to witness higher growth rates on account of increasing number of vendors in the market.
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