The Frozen Bakery Products Market Expected to Reach USD49bn by 2032

According to Future Market Insights, the global Frozen Bakery market size is estimated to be valued at USD23bn in 2021 and is projected to reach USD49bn by 2032, recording a CAGR of 7.4% during the forecast period. 

Urbanization and a faster-paced lifestyle have led to the growing acceptance of frozen bakery since it is easily available and can be prepared in less time. In addition to this, the low cost of frozen bakery makes it ideal for consumption among millennials.

While retail continues to remain the most preferred channel of distribution, market players are soon expected to diversify, which would drive their focus to catering and industrial channels for distribution, says the research company.

“In Europe, Germany has emerged as one of the most lucrative markets for frozen bakery. Surge in tourism and catering business has been giving impetus to growth witnessed in Europe. These trends are unlikely to change in the coming years, which will favor growth of the overall frozen bakery market in Europe,” said a lead analyst at FMI.