Frozen Bakery Products Market Size, Share, Growth Analysis, By Product (Breads, Pizza Crust), By Source (Corn, Wheat), By End Use (Retail, Food Service Industry), By Region -Industry Forecast 2024-2031

Global Frozen Bakery Products Market size was valued at USD 23.6 Billion in 2022 and is poised to grow from USD 25.0 Billion in 2023 to USD 38.06 Billion by 2031, growing at a CAGR of 5.8% in the forecast period (2024-2031).

The global frozen bakery products market growth is expected to be significantly impacted by the increasing demand from restaurants and other institutional food services. The demand for foodservice providers is likely to increase because of a number of socioeconomic factors, such as busy lifestyles, increasing disposable incomes, and the increasing trend of companies outsourcing non-core activities. Increased popularity in business travel is also driving up demand for convenient, fast usable meal alternatives that in turn further creates demand for frozen bakery items. It is expected that the demand for these products will rise significantly as the number of food service providers in the hotel and restaurant industries increases across the country both domestic and international brands.

With other developments of recent times, such as IQF and microencapsulation technologies that should help extend the frozen product's shelf life, they also present viable products for distribution and longer storage. Besides helping raise the quality of products generally, these innovations shall contribute to consumers' desire to attain greater convenience without any reduction in freshness. Market prospects for frozen bakery items, therefore, are expected to be rapidly growing during the forecasting period. The expectations are that these socioeconomic and technical factors will increase the demand for frozen baked goods especially in the foodservice and hospitality industries.