Canada Frozen Bakery Market Size By Recipe (Bread, Viennoiserie, Patisserie, Savory Snacks), By Product (Ready-to-prove, Ready-to-bake, Fully Baked), By End-user (Convenience Stores, Hypermarkets & Supermarkets, Artisan Bakers, Hotels, Restaurants, And Catering [HORECA], Bakery Chains), Industry Analysis Report, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018 - 2024
Canada Frozen Bakery Market will surpass USD 4.1 billion by 2024; according to a new research report.
The Canada conventional food sector is undergoing transformation, as the eating habits of the people have changed considerably. In Canada, there is a definite preference for convenience food, which is mainly driven by ready-to-eat meals such as pizza's, hamburgers, pastries and other savory snacks, which fits perfectly into the busy life of the Canadians. Frozen bakery products offer various benefits of food varieties, adaptability, and a wide range of opportunity to reduce food wastage. Despite the significance of fresh food in the Canadian diet, processed and packaged food is confronting higher growth, as people have less time for buying, preparing and cooking food, especially in urban areas. Thus, people from all income groups are now substituting full meals with products that are quick and easy-to-prepare, inexpensive and widely available at a number of retail outlets across the nation.
Energy remains an integral feedstock for all major processes, and fluctuations in the energy tariff might hinder the frozen bakery market in the forecast timeframe. Significant level of energy is required during the freezing process, cold storage and product distribution. Cold chain logistics is a critical aspect of the frozen bakery market as it allows to extend the shelf life of perishable products such as dairy, bakery & confectionery, dough etc. Therefore, oscillating energy prices are likely to restrain Canada frozen bakery market.
Based on revenue, bread segment will hold approximately USD 3 billion in 2024 of the overall Canada frozen bakery market owing to huge consumption of the product and its varieties such as such as white, brown, multi-grain, fruit, soft, etc. Innovation in the bakery segment has played a vital role in driving sales, principally due to the growing demand for bakery products that are suitable for specific dietary needs, such as gluten-free exotic variants such as wheat, cracked wheat, rye, multigrain, five-grain, flute, etc. The savory snacks segment is said to surpass USD 130 million by the end of the forecast period.
Based on volume, ready-to-bake frozen bakery products will account for the highest market share of the overall Canada frozen bakery market owing to its increasing applicability in hotels, restaurants, and catering industry where bulk quantity with lesser preparation time is required. Ready-to-bake dough is a convenient way to enjoy cookies, cakes, homemade pizza, etc. and it will grow with a CAGR of over 4.8% due to its growing acceptance by end-users and lower production cost.
The hypermarkets & supermarkets end-use segment will capture a significant share of over 45% of the Canada frozen bakery market. The HORECA segment revenue will capture a market share of close to 25% by the end of forecast spell and will grow with a CAGR of over 6% during the forecast timeframe. Growing B2B business will significantly accelerate the growth of this segment.
The Canada frozen bakery market competitive landscape includes key players such as Dunkin' Brands, Grupo Bimbo, Canada Bread Company, Weston Foods Canada, Rich Products Corporation, General Mills Inc. and Aryzta AG.
Canada frozen bakery market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons & revenue in USD million from 2013 to 2024, for the following segments:
Canada Frozen Bakery Market, By Recipe
Canada Frozen Bakery Market, By Product
Canada Frozen Bakery Market, By End-user
Hypermarkets & Supermarkets
Hotels, Restaurants, and Catering (HORECA)