PUBLISHER: The Insight Partners | PRODUCT CODE: 1764973
PUBLISHER: The Insight Partners | PRODUCT CODE: 1764973
The Europe frozen bakery products market was valued at US$ 3,684.89 million in 2023 and is expected projected to reach US$ 5,100.51 million by 2031; it is estimated to register a CAGR of 4.1% from 2023 to 2031.
Strategic Initiatives by Key Market Players Fuels Europe Frozen Bakery Products Market
Consumers increasingly seek convenience, nutrition, and artisanal quality while preparing or purchasing baked goods, prompting manufacturers to enhance product quality and develop innovative products to cater to evolving consumer demands. Manufacturers are investing significantly in strategic development initiatives such as product innovation, research and development, mergers and acquisitions, and business expansion to attract a broad customer base and enhance their market position. In 2024, Golden Bake introduced a fresh new look for its range of frozen baking products. Established in 1987, Golden Bake has grown into one of Ireland's largest frozen bakeries, specializing in puff pastry and cookie products from its facility in Coolock, Dublin. In 2022, Baker & Baker, a European manufacturer of bakery products, introduced its first line of vegan offerings. The UK-based company states that this range was launched in response to the growing demand for vegan products across Europe. In 2024, the Spanish stock market regulator CNMV approved the prospectus of Barcelona-based frozen bakery producer Europastry for its upcoming initial public offering-marking its fourth attempt at a listing on the Madrid stock exchange. Thus, increasing product innovations and launches by key players drive the frozen bakery products market.
Europe Frozen Bakery Products Market Overview
As per the research conducted by Tate and Lyle in November 2023, 45% of young people in Europe are buying baked goods daily as they see them as an important part of their diet. In Europe, with busy lifestyles and limited time for meal preparation, frozen food offers a convenient and accessible solution for individuals. The availability of fresh produce is impacted by factors such as spoilage during transportation and warehousing, lack of domestic production, and high prices. As per the International Institute of Refrigeration, in Germany, the sales of frozen foods rose by 3.6% in volume to reach ~4 million metric tons in 2022. In the past few years, consumers have switched from fresh to frozen food due to food price inflation in the UK. The European retail sector is poised for robust growth, driven by the presence of major supermarkets such as ASDA, Metro AG, Mercadona, Aldi, J. Sainsbury, Auchan, Magnit, Intermarche; X5 Retail Group, E. Leclerc, Edeka-Gruppe, Carrefour, Tesco, Aldi, Rewe Group, and Schwarz Group. The significant presence of supermarkets in Europe creates lucrative opportunities for key market players to leverage the extensive store networks for product distribution. Thus, the rise in the preference for frozen food and the development of retail infrastructure are a few factors fueling the market growth in the region.
Europe Frozen Bakery Products Market Revenue and Forecast to 2031 (US$ Million)
Europe Frozen Bakery Products Market Segmentation
The Europe frozen bakery products market is categorized into product type, category, distribution channel, and country.
Based on product type, the Europe frozen bakery products market is segmented into breads and rolls, cakes and pastries, biscuits and cookies, and others. The breads and rolls segment held the largest market share in 2023.
In terms of category, the Europe frozen bakery products market is bifurcated into gluten-free and conventional. The conventional segment held a larger market share in 2023.
By distribution channel, the Europe frozen bakery products market is categorized into supermarkets and hypermarkets, convenience stores, online retail, and others. The supermarkets and hypermarkets segment held the largest market share in 2023.
By country, the Europe frozen bakery products market is segmented into Germany, France, Italy, the UK, Spain, and the Rest of Europe. The Rest of Europe dominated the Europe frozen bakery products market share in 2023.
Grupo Bimbo SAB de CV, Rhodes International Inc, General Mills Inc, Pepperidge Farm Inc, Bridgford Foods Corp, Conagra Brands Inc, Cole's Quality Foods Inc, Sara Lee Frozen Bakery LLC, T. Marzetti Company, and The Edwards Baking Company are some of the leading companies operating in the Europe frozen bakery products market.