The frozen pastries market has witnessed significant growth over the past few years owing to growing popularity of frozen bakery and confectionery products among consumers. Frozen pastries offer convenience to consumers as they can be easily stored in freezers and baked/consumed when needed without much efforts. The increasing involvement of women in professional lives has fueled the demand for convenient snacking and meal options like frozen pastries. Frozen pastries products include frozen pies, cakes, Viennoiserie products and other bakery items. They prove advantageous over fresh bakery products as freezing helps prevent loss of moisture and nutrients and allows year-long availability.
The Global frozen pastries market is estimated to be valued at US$ 36.44 Mn in 2024 and is expected to exhibit a CAGR of 7.5% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the frozen pastries are Pfizer Inc., TherapeuticsMD Inc., Allergan plc (AbbVie Inc.), Duchesnay USA, Novo Nordisk A/S, Merck & Co., Inc., Endoceutics Inc., Bausch Health Companies Inc., Mylan N.V., Teva Pharmaceutical Industries Ltd.
The rising demand for premium and organic Frozen Pastries Market Demand presents significant growth opportunities for players. Innovation and introduction of gluten-free, sugar-free and vegan frozen pastries will further boost the market growth. Players are focusing on strengthening their distribution networks to tap the rising demand from developing regions of Asia Pacific, Latin America, and Middle East & Africa.
Global expansion of the frozen pastries market is driven by growing bakery and confectionery demand in developing countries. Players are investing heavily in new production plants, R&D facilities and marketing activities in emerging economies. The rising disposable incomes and changing lifestyles have propelled the demand for frozen snacks and desserts in regions like China, India and Brazil.
Market Drivers
A key driver for the Frozen Pastries Market Size And Trends is the rising demand for convenience foods driven by busy lifestyles and dual income households globally. Frozen pastries do not require elaborate preparation time and can be easily reheated/thawed for consumption, offering high convenience. Furthermore, the growing popularity of artisanal baked goods and premiumization trend in the food industry have boosted demand for premium frozen pastries in recent years.
PEST Analysis
Political: The frozen pastries market is influenced by regulations on food safety and quality set by governmental bodies. Stringent norms are present regarding manufacturing processes, ingredients used and hygienic standards to be followed.
Economic: Rising disposable incomes and busy lifestyles have increased the demand for frozen convenience foods including pastries. However, high production costs may pose a challenge to manufacturers.
Social: Changing dietary habits and growing health awareness are augmenting the demand for healthy frozen alternatives to traditional bakery products. Rising popularity of home baking is also driving the market.
Technological: Advancements in freezing technologies aid in maintaining texture, taste and nutritional value of pastries during storage. Automation of production lines has increased processing efficiency and lowered costs.
The geographical regions where the frozen pastries market in terms of value is concentrated include North America and Europe. In North America, the US accounts for the largest market share owing to increasing demand for convenience foods and presence of major retailers. Europe holds significant revenue share led by countries like the UK, Germany and France.
The fastest growing regional market for frozen pastries is expected to be Asia Pacific over the forecast period driven by rapid urbanization, rising disposable incomes and growing western influence on dietary habits in countries like China, India and Southeast Asian nations. Increased availability through retail channels and foodservice outlets along with innovative offerings catering to local tastes are boosting adoption.
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
