“Growing
popularity of e-commerce and online retailing is expected to support
the expansion of frozen pastries market globally. Moreover, frozen
pastries offer the convenience of ready-to-eat pastry items in the
comfort of home, which is further fueling their demand in the
market.” - Persistence Market Research (PMR)
PMR
examines the global frozen
pastries market in its upcoming report titled, “Frozen
pastries Market: Global Industry Analysis and Opportunity Assessment,
2016 - 2024”. The market is foreseen to expand at a compound annual
growth rate of 5.9% in terms of value over 2024.
Report
Highlights: Key Market Drivers
- The impressive shelf life of frozen pastry products is playing a vital role in developing the supply-side for such products.
- The convenience offered by frozen pastries is pivotal to market growth based on demand-side.
- Frozen pastry products are proving to be much more economical for retail eatery chains and fast food restaurants. These products last longer than normal conventional pastry items, thus, restaurant owners bare fewer losses from spoilage and contaminations.
- Increasing demand for sugar-free frozen pastries is also expected to be a key factor in driving the overall market growth in the near future.
- Since freezing the pastries locks-in the product's properties, it thereby prevents nutrient or texture loss for a prolonged duration.
Market
Restraints
The
PMR report further delivers key insights on factors restraining the
market growth such as quality challenges, the role of regulations,
upcoming alternate products and effect of price fluctuations.
Make
an Enquiry @ https://www.persistencemarketresearch.com/samples/13606
Market
Opportunities
Increasing
demand for premium frozen pastry products has greatly influenced the
popularity of specialty frozen pastries amongst consumers. Specialty
frozen pastries are mostly handmade and are baked using premium
quality ingredients.
Market
Overview
Based
on product type, the market is bifurcated into viennoiserie and
Danish products. Demand for viennoiserie type pastry products is
expected to remain relatively higher than Danish type pastry products
throughout the assessment period. In addition, the consumption of
frozen pastries of both the types has grown to a significant extent
in recent years, with plant and filled croissants products witnessing
a considerable rise in demand. Increasing demand for pastries
worldwide is driving the frozen pastries market. The plain and filled
croissant products are leading with maximum market share and are
expected to grow further over the next couple of years. This is
primarily attributed to the incessantly high consumption in Europe
and their recent growth in popularity in new regional markets.
Based
on distribution channels, the hypermarket/supermarket segment
occupies lion’s share of the market. In 2016, the segment was
valued at around US$ 785.9 Million and is expected to increase at
over 6% CAGR to reach US$ 1,299.1 Million by 2024-end. The
development of in-store bakeries or bakeries within
supermarkets/hypermarkets has emerged as a prominent growth factor
for the market. Whereas, the artisan bakers is anticipated remain as
the second largest segment of the market. The segment is particularly
gaining traction in parts of Europe and North America.
Regional
Outlook
North
America, Latin America and Asia Pacific are anticipated to witness
the robust growth of the market between 2016 and 2024. Despite
holding a relatively smaller market size, Asia Pacific is expected to
gain substantial market share due to increasing demand from countries
such as Australia, New Zealand (ANZ) and Japan. Since most of these
products originated from several Western European countries, Europe
is expected to command for nearly 62.3% revenue share of the market
during the forecast period. Likewise, growing popularity of frozen
pastry products in developing countries is expected to create a host
of new opportunities for leading players in the market.
Competitive
Dashboard
Key
players operating in the global market for frozen pastries include
Gourmand, Delifrance, F.B.F. S.p.A, Wolf ButterBack, Lantmännen
Unibake UK Limited, LBP (UK) Ltd, Le Bon Croissant, and La Danoiserie
Corp.
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