Vertical: CFnBBase Year: 2019
Market Size (2019)
$14.81B
Projected (2026)
$24.53B
CAGR (2018–2026)
7.4%
Key Players
10+
The global frozen bakery products market has witnessed rapid growth over the last few years and is projected to expand at a CAGR of 7.50% during the forecast period. Increasing consumer preference towards convenience foods is anticipated to act as a major driver in the growth of the global frozen bakery products market during the forecast period. Additionally, the growth of the organized retail sector is expected to positively influence the sales of frozen bakery products at the global level. However, frozen bakery products are not cost-efficient for the consumers, which is anticipated to restrict the growth of the market. The development of the cold chain industry in the emerging economies is expected to create a lucrative opportunity for the manufacturers of frozen bakery products.
The Frozen Bakery Products Market market is projected to grow at a CAGR of 7.4% from 2018 to 2026.
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View Subscription PlansFrozen bakery products include all pre-cooked bakery products that are kept frozen until used. Freezing is one of the quickest, easiest, most convenient, and versatile methods of preserving food. Frozen bakery products maintain more of their original flavor, color, and texture, and have higher nutritional values as compared to foods preserved by other methods. Breads & rolls and pizza & pizza crust are common examples of frozen bakery products.
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View Subscription PlansResearch Process
Wantstats analysis is based on interviews with industry experts who offer insight into the market structure, market segmentation, technology assessment, competitive landscape (CL), market penetration, as well as the emerging trends. Besides primary interviews (~80%) and secondary research (~20%), their analysis is based on years of professional expertise in their respective industries. Our analysts also predict where the market will be headed in the next five to ten years by analyzing historical trends and the current market position. Furthermore, the changing trends in segments and categories in each region are studied and estimated based on primary and secondary research.
Primary Research
Extensive primary research was conducted to gain a more in-depth insight into the market and industry performance. For this particular report, we have conducted primary surveys (interviews) with the key level executives (VPs, CEOs, marketing directors, and business development managers, among others) of the major players active in the market. In addition to analyzing the current and historical trends, our analysts predict where the market is headed in the next five years.
Secondary Research
Secondary research was mainly used to collect and identify information useful for an extensive, technical, market-oriented, and commercial study of the global frozen bakery products market. It was also used to obtain critical information about major players, market classification, and segmentation according to industry trends, geographical markets, and developments related to the market and technology. For this study, analysts have gathered information from various credible sources such as annual reports, sec filings, journals, white papers, corporate presentations, company websites, international organizations, and paid databases.
Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the size of the market and to estimate the size of various other dependent sub-markets of the overall global frozen bakery products market. The key players in the market were identified through secondary research, and their market contributions in different applications across the globe were determined through primary and secondary research. This entire process included the study of the annual and financial reports of the top market players and extensive interviews for key insights with industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All the possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to arrive at the final quantitative and qualitative data. This data has been consolidated and detailed inputs and analysis from Wantstats added before being presented in this report. The following figure shows an illustrative representation of the overall market size estimation process employed for this study.
Base Year
2019
Historical Period
2018 – 2018
Forecast Period
2020 – 2026
Primary Interviews
150+
Historical data (2018–2019) and forecast period (2019–2026)
Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.
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View Subscription PlansThe global frozen bakery products market is projected to register a CAGR of 7.50% during the review period. The growth of the market can be attributed to the increasing demand for convenience foods along with the growing working women’s population. Market players are expected to witness profitable growth opportunities in the global market due to the rising demand for organic products.
The key players operating in the global frozen bakery products market include Grupo Bimbo S.A.B.de C.V. (Mexico), Conagra Brands, Inc. (US), Associated British Foods plc (UK), General Mills, Inc. (US), Lantmännen Unibake (Denmark), Kellogg Company (US), Aryzta AG (Switzerland), Vandemoortele NV (Belgium), Europastry S.A. (Spain), and Cole’s Quality Food, Inc. (US). The market comprises tier-1, tier-2, and local players. The tier-1 and tier-2 players have a global reach along with diverse product portfolios. Companies such as Grupo Bimbo S.A.B.de C.V., Conagra Brands, Inc., Associated British Foods plc, General Mills, Inc., and Lantmännen Unibake dominate the global market due to their brand reputation, product differentiation, financial stability, and diversified regional presence.
The players are focused on investing in research & development and adopting strategic growth initiatives such as product launches, expansions, and partnerships to strengthen their market positions and capture a larger customer base.
Threat of New Entrants
Several established players operate in the global frozen bakery products market, which makes it difficult for new entrants to compete with established brands in the market. Additionally, new players need to invest heavily in creating a brand name through promotion and marketing. However, the barriers to enter the market are not very high, and the initial investments required to start a frozen bakery brand are moderate. The easy availability of raw materials also increases the chances of new entrants.
Hence, the threat of new entrants in the global frozen bakery products market is expected to be moderate during the forecast period.
Bargaining Power of Suppliers
The raw material suppliers in the global frozen bakery products market are food & beverage manufacturers and millers. The frozen bakery products manufacturers have the liberty to shift between suppliers as they are not dependent on a single supplier, which reduces their operational risks. Furthermore, the presence of several suppliers reduces the switching costs among the manufacturers. The limited scope of product differentiation also reduces the bargaining power of the suppliers.
Hence, the bargaining power of suppliers in the global frozen bakery products market is expected to be low during the forecast period.
Bargaining Power of Buyers
The bargaining power of buyers is the pressure consumers exert on manufacturers to offer high-quality products at low prices. Owing to the presence of several established industry players in the market, the buyers have the option of choosing between several brands, which reduces their switching costs and, consequently, increases the bargaining power of buyers. Moreover, consumers usually tend to experiment with new products in the market and often change their preferences, which increases their bargaining power.
Hence, the bargaining power of buyers in the global frozen bakery products market is expected to be high during the forecast period.
Threat of Substitutes
Frozen bakery products are being replaced with conventional bakery products as the general population is becoming increasingly health conscious. The use of various chemicals and preservatives in frozen bakery products can cause various diseases, which is why many consumers prefer fresh bakery products instead of frozen. Furthermore, the cold chain process is still at a budding stage in most developing and underdeveloped countries, which is expected to reduce the overall consumption of frozen bakery products.
Hence, the threat of substitutes in the global frozen bakery products market is expected to be high during the forecast period.
Intensity of Rivalry
The frozen bakery products market is a highly competitive market that is marked with fierce rivalry among the players in terms of product quality, variety, and pricing. The mature and stagnant market for frozen bakery products is forcing the market players to emphasize on innovation in terms of flavors and product quality to expand their customer base. Many manufacturers are focusing on reducing production costs to compete in the cut-throat market. They are also engaged in strategic expansions to strengthen their businesses worldwide and survive in the market.
Hence, the rivalry in the global frozen bakery products market is expected to be high during the forecast period.
Market estimates by geography (2026)
InsightEurope leads with $9.60B by 2026, while Asia Pacific is projected to grow fastest at a 8.0% CAGR.
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View Subscription Plans| REGION | 2018 | 2019 | 2026 | CAGR | SHARE |
|---|---|---|---|---|---|
| Asia Pacific | $2.49B | $3.36B | $4.61B | 8.0% | 19% |
| Rest of the World | $1.45B | $1.97B | $2.64B | 7.7% | 11% |
| Europe | $5.50B | $7.22B | $9.60B | 7.2% | 39% |
| North America | $4.38B | $5.77B | $7.68B | 7.3% | 31% |
| Total | $13.82B | $18.31B | $24.53B | 7.4% | 100% |
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View Subscription PlansTotal Market Size
$24.53B
| APPLICATION | REVENUE ($B) | GROWTH RATE | MARKET PENETRATION |
|---|---|---|---|
| Breads & Rolls | $10.44B | 7.4% | 43% |
| Pizza & Pizza Crust | $6.02B | 7.9% | 25% |
| Cakes & Pastries | $5.15B | 7.6% | 21% |
| Cookies & Biscuits | $1.69B | 7.2% | 7% |
| Others | $1.23B | 5.3% | 5% |
* Revenue projections based on 2025 estimates. Growth rates represent CAGR 2024–2030. Market penetration indicates current adoption rate within addressable market segments.
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Analytical insights on Frozen Bakery Products Market covering market dynamics, competitive landscape, and strategic outlook.
The Frozen Bakery Products Market market is projected to reach $24.53B by 2026, growing at 7.4% CAGR. The Breads & Rolls segment holds the largest share.
The global frozen bakery products market has witnessed significant growth over the last few years and is projected to register a 7.50% CAGR during the forecast period. The key drivers fueling the growth of the global frozen bakery products market are the rising demand for convenience food, the increasing number of working women, and the rapid growth of the organized retail sector. However, the high price of the products is set to curb the growth of the global frozen bakery products market. Nevertheless, the increasing investments in the cold chain market in developing countries and the growing demand for organic products are expected to create lucrative opportunities for players operating in the global frozen bakery products market during the forecast period.
Liberalization, globalization, and growth of international trade, coupled with government support towards infrastructure development for the cold chain sector, are factors that have created growth and investment opportunities in multiple markets. The cold chain logistics market in developing countries is dynamic and constantly evolving. Due to the current demand-supply gap in the global market, the fragmented cold chain logistics market offers ample opportunities for new entrants to enter the market. Furthermore, cold storage is also a crucial factor and key component of food trade in various countries. Operations in the cold chain market have substantially improved in recent decades. The market has been offering services for a wide range of products, which require storage at certain temperature levels to maintain integrity throughout the transport chain. The development of the cold chain market in emerging economies has led to the establishment of a proper logistical process to maintain shipment integrity and has enabled the food industry to take advantage of global variations. This is expected to create a growth opportunity for the players operating in or planning to enter the global frozen bakery products market during the forecast period.
Frozen bakery products are generally costlier compared to fresh bakery products. The manufacturers of frozen bakery products are pricing their products higher as compared to fresh bakery products owing to the costly production and storage process. Furthermore, these are not the only products available in the global market. Consumers can opt for fresh and other types of convenience foods, which are healthier in comparison to bakery products. The oligopolistic market includes individual producers that are involved in price wars and charging prices according to their choice. Thus, the high product cost is expected to reduce the product demand and restrict the growth of the global frozen bakery products market during the forecast period.
When it comes to food, consumers’ spending behavior is determined by their loyalty towards certain brands. Generally, consumers prefer brands that are recognizable and popular. The frozen bakery products market is fragmented, and consumers usually prefer branded frozen bakery products over non-branded ones, which creates a challenge for new market players to establish themselves. The increasing instances of government bodies relaxing custom and excise duties on machinery and transport equipment associated with frozen processed food production has led to a reduction in the cost of supply chain operations, which, in turn, is expected to attract national and international brands to enter various product categories. However, the new players need significant capital investments to set up their brand and position their product in a way that draws consumer attention. Thus, branding issues are expected to create a challenge for players operating in the global frozen bakery products market during the forecast period.
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Profiles of 107 companies operating in the Frozen Bakery Products Market market, including revenue, employee count, and market positioning where available.
Showing 107 of 107 companies
Company Headquarters: Zurich, Switzerland Founded: 2008 Workforce: ~17,269 Company Working: Aryzta AG is specialized in the manufacturing and sale of bakery products such as bread, cookies, sweets, and pastries among other products. The company primarily operates in three regional segments namely, Europe, North America, and the rest of the world. The company has its production facilities in North America, South America, Europe, Southeast Asia, Australia, and New Zealand. The company has a strong presence in 29 countries across the globe. The company caters to large retail, convenience and independent retail, quick-service restaurants (QSR), and other foodservice categories.
Company Headquarters: Michigan, US Founded: 1906 Workforce: ~31,000 Company Working: Kellogg Company (Kellogg), together with its subsidiaries, manufactures and markets ready-to-eat cereals and convenience foods. The company owns brands such as Kellogg’s, Cheez-It, Pringles, Austin, Parati, and RX BAR. Also, the company sales its frozen products under the brand Eggo and Morningstar. The company has manufacturing facilities in 21 countries and a distribution network in more than 180 countries. It has the major presence across North America, Europe, and Asia Pacific Kellogg provides its potato chips under the Pringles brand. The company has R&D center at Michigan named W.K. Kellogg Institute for Food and Nutrition Research and other few locations. The geographic segments include North America (U.S. businesses and Canada); Europe; Latin America (Central and South America and Mexico); and AMEA (Asia Middle East Africa)
Company Headquarters: Copenhagen, Denmark Founded: 1880 Workforce: ~6,000 Company Working: Lantmännen Unibake manufactures fresh and frozen bakery products. It specializes in bagels, buns, croissants, loaf, and rolls, among others. The company markets its fresh and frozen bakery products for retail and foodservice markets in more than 60 countries around the world. The company provides is fresh and frozen bakery products under brands such as Hatting, Schulstad, Vaasan, Leibur, and Bonjour, among others.
Company Headquarters: Mexico City, Mexico Founded: 1945 Workforce: ~138,432 Company Working: Grupo Bimbo S.A.B.de C.V. is specialized in the manufacturing and sale of bakery products such as sliced bread, English muffins, buns & rolls, bagels, cakes, cookies, and pastries, among others. The company primarily operates in four base segments such as bread, pizza crusts, cakes, and pastries. The company offers different categories of products such as packed breads, sweet baked goods, cookies, prepacked food, and confectionery. The company has a strong presence in 32 countries across the globe with more than 100 brands consisting of over 13000 products.
Company Headquarters: Sant Cugat Del Valles, Spain Founded: 1987 Workforce: ~4,539 Company Working: Europastry S.A. is specialized in the frozen dough segment. The company is engaged in the manufacturing of breads, pastries, cakes, rolls, and Kentes products, among others. The company has developed a line of gluten-free products based on rice flour and potato flour. The company has a strong geographical presence in over 60 countries with 22 production plants and 4 R&D centers spread across the globe. It provides its products under brands such as Viennoiserie, Gran Reserva, Dots, and Saint Honore.
Company Headquarters: Ghent, Belgium Founded: 1899 Workforce: ~NA Company Working: Vandemoortele NV specializes in the manufacturing and sale of bakery products such as bread, pastry, sweet treats, and patisserie and savory products. The company has two business lines: bakery products, and margarine, culinary oils, and fats. The company operates its production facilities in Belgium, France, Germany, the UK, the Netherlands, Spain, Poland, and Italy. The company has a geographical presence in over 18 countries across the world.
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Historical performance and future projections (2020–2030, USD Billion)
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