GCC Frozen bakery product Market
The GCC frozen bakery products market stands at USD XX million in 2017 and is expected to reach USD XX million by 2022 growing at a CAGR of XX% during the forecasted period 2017-2022.
GCC Countries Frozen Bakery Product Market Dynamics
Bakery is a major processed food product sold in the Middle East countries due to the high consumption of bread in the region. The majority of the processed food products which are imported are supplied to the market in frozen form.
The major drivers for the market are the economic development and increasing population, increasing demand for convenience food products and government initiative to safeguard the food supply. With the rise of urbanization in the region, specifically in the UAE and Saudi Arabia, has created good opportunities for foreigners to work in the region thereby triggering the market demand for processed foods. The government’s strict food laws to control processed foods has pushed manufacturers to opt for frozen bakery products, as these products have a longer shelf life, retain quality and are relatively cheaper than fresh bakery produce. However, some factors restraining the market growth are the consumer preference for freshly baked conventional bakery products, fluctuations from seasonal demand and manufacturing complexity.
GCC Countries Frozen Bakery Product Market Segmentation
The product type market includes frozen bread, frozen pizza crust, frozen cakes and pastries and others. Frozen bread market consists of the largest share followed by the frozen cakes and pastries market among others. Increased consumption of bread in the region has created a saturated market for frozen bread while frozen cakes and pastries are growing fast. Segmentation by geography includes countries such as Saudi Arabia, Kuwait, Qatar, UAE, Oman, Bahrain and others.
Key Players in the GCC Countries Frozen Bakery Product Market
Increased innovation in technology proves to be a boon for the frozen bakery market providing a profitable outcome to the manufacturers. Also, increased concentration of high-income population in the region has raised the premium products demand in the market which has created a good opportunity to the market. The key players in the market are Sunbulah, General Mills, Switz Groups, Dr. Oetkar, ABC Baking, IFFCO and CSM amongst others.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook