Posted On: 2020-06-18
Asia Pacific Frozen Bakery & Confectionery Items market was dominated by China in 2019 – 6Wresearch
In the past few years, the demand for frozen bakery & confectionery items has been on the rise across the developing and emerging nations in the APAC region due to the increase in global exposure and growing urbanization which has changed the lifestyle of the people. Nowadays, people prefer frozen food and bakery items owing to its rising awareness among consumers and westernization in the region. Moreover, rising inclination of youth and working women would further complement the market growth for frozen bakery & confectionery items in the Asia Pacific region during the forthcoming years.
According to 6Wresearch, Asia Pacific (APAC) Frozen Bakery & Confectionery Items Market size is projected to grow at a CAGR of 6.0% during 2019-26F. By countries, China accounted for the highest share in the overall market of frozen bakery & confectionery items in the region for the year 2019 on account of growing domestic manufacturing, increasing population, and rising quick-service restaurants, hotels, and cafes in the country. Further, growing awareness regarding frozen bakery, increasing number of working women, especially mothers in emerging nations across the region, and thriving tourism & hospitality sector particularly in countries such as Indonesia, Philippines, etc would boost the demand for frozen bakery & confectionery items market in other nations of APAC as well.
According to Mansi Bisht, Research Analyst, Research and Consulting, 6Wresearch, “Frozen bread & buns segment held the majority of shares in 2019, in most of the countries since these products are most commonly used by the consumers and bread is considered as an essential item in several countries such as India and Japan. Further, increasing westernization and emerging food trends in the Asian countries would increase the demand for savory products such as pizza and toast in the years to come.”
According to Akshay Kumar, Research Associate, Research and Consulting, 6Wresearch, “By end user, foodservice industry dominated the overall Asia Pacific frozen bakery & confectionery items market in 2019 due to rising fast food joints, cafes and quick service restaurants in the region. However, the foodservice industry in the Asia Pacific region has witnessed a severe impact of the outbreak of COVID-19 pandemic, but the same is expected to recover during the last quarter of the year.
Some of the major companies in the Asia Pacific frozen bakery & confectionery items market include General Mills, Inc., Grupo Bimbo S.A.B de C.V., Bakers Circle Pvt Ltd. and Aryzta AG.
"Asia Pacific Frozen Bakery & Confectionery Items market (2019-2026)" provides an in-depth analysis with 87 figures covered in 135 pages. The report estimates and forecasts the overall Asia Pacific frozen bakery & confectionery items market by product types, end-user, distribution channel and countries. The report provides an unbiased and detailed analysis of the Asia Pacific Frozen Bakery & Confectionery Items market on-going trends, outlook, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.