Introduction
Modern consumer desirability for convenient frozen food products has been a major reason for the enormous growth of frozen bakery products market. Rise in frozen bakery product market provides the provisions of thaw-and-serve and bake-off facilities, resulting in saving of consumer efforts and time required for preparing bakery products at home scale. Frozen bakery products offer instant service with retention of both freshness and quality characteristics. Industrialists have gained a greater advantage by frozen bakery products in in-store bakeries, coffee chains, gas-stations, and quick service restaurants by offering various convenient products. Frozen bakery product market ensures the year round availability of bakery products with wide range of variability in products. Despite the greater scope of frozen bakery product market, its growth is limited by inter- and intra-industry competitors while procuring the raw materials.
Forecast of frozen bakery product market
The global market for frozen bakery products was US$13.0 billion in 2014. The market is projected to reach USD 21.2 Billion by 2020, growing at a CAGR of 8.5% from 2015 to 2020. The market for frozen bakery products sold through catering is predicted to grow at a faster rate, because of fast-growing global tourism and hospitality industry and increasing demands for frozen bakery products due to their effortless convenience.
In India, the frozen bakery product market is believed to embrace a huge growth owing to the increase in the variability of frozen bakery products in the market. The growth is expected to be, in terms of value and volume, of frozen bakery products, depending on their type, distribution channel, and geographical market. The growth involves in bakery products like frozen bread, frozen pizza crust, frozen cake & pastry, and other frozen bakery products such as waffles, donuts, and cookies. Based on the channel of distribution frozen bakery products have also been segmented into artisan bakers, retail, and catering. Based on geographical regions, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World.
Frozen bakery market as boost to economy
Globally frozen bakery is gaining wider acceptance on daily diet basis as a result of changing lifestyle of people all over the world. Consumer choice for nutritious, eye appealing products having enhanced shelf life, without compromising on taste and quality has led industrialists to switch from fresh to frozen bakery products. The growth in frozen bakery product market will witness enormous growth in processed food production sector and will lead to introduction of diverse range of innovative frozen bakery products. In frozen food market, frozen bakery product market holds a major share because of the rise in need for ready-to-bake or ready-to-thaw frozen products. The frozen bakery product market in terms of both value and volume will grow and hence will contribute to the economic growth. However, the upsurge is limited by the driving and restricting factors of the market along with the evaluation of trends, opportunities, constraints, and challenges. The market for bakery ingredients opened a gateway of enormous growth for baking Ingredients by type (Enzymes, Emulsifiers, Leavening Agents, Fats & Shortenings, Mould Inhibitors, Colours & Flavours), Application (Bread, Biscuits & Cookies, Cakes & Pastries, Rolls & Pies) & Region - Global Trends & Forecast to 2019 and gluten-free products market by type (Bakery & Confectionery, Snacks, Breakfast Cereals, Baking Mixes & Flour and Meat & Poultry Products), Sales Channel (Natural & Conventional) & Location - Global Trends & Forecasts to 2019. This will not only enable them to expand their geographical reach, but also to reinforce their market position by gaining a larger share in terms of revenue and product portfolios.
Introduction of news brands in Indian market
Svenson’s brand of frozen bakery products was introduced by the Davars in Indian market for quick service restaurants. The Svenson’s brand is solely targeted for the QSR segment and includes products like, mousse shots, choco lava, savoury muffins, bruchita, volcano muffins, pizza tarts and marble brownie. Its main target is its ‘ready-to-serve’ range of popular, international desserts & savouries that QSRs can add to the menu without the need of additional, expensive staff. The products, maintained frozen till needed, have to simply be thawed & microwaved to be served. Davars claim its products to have a shelf life of six months and makes them available in sizes of 40-55 gm, with individual packaging and customised solutions. Svenson’s is currently available only in Delhi, though Davars is expecting to make it available across India in due course. “QSR represents one of the largest segments of the food industry in India. It is growing by 26% every year and expected to reach US$117 bn by 2017. It is clear from the emerging QSR chains that the customer wants to be served within limited time. Svenson’s is a promising brand and will serve the motive for the same as it is convenient for food industry as it requires only thawing, micro waving and serving. This trend is expected to grow in coming years. Product innovation and adoption of advanced methods in order to improve frozen bakery products quality including enzymes, hydrocolloids, sour dough fermentation and antioxidants for natural process are also expected to have positive growth in the global market. Inclination towards freshly baked products, pH range, health issue, temperature concern and others are some of the hindrances in the global frozen bakery market growth over the forecast period.
The dessert product line includes Mousse shots (Egg free. Flavours – strawberry, chocolate & orange); Choco lava; Volcano muffins; Volcano cake with filling; Rainbow cake; Marble brownie; Sweet muffins basket.
The savoury product line includes Savoury muffins; Bruchita; Pizza tarts.
