Frozen Dough Market Growth & Trends
The global frozen dough market size is estimated to reach USD 32.78 billion in 2030, registering a CAGR of 5.1% from 2022 to 2030, according to a new report by Grand View Research, Inc. Frozen doughs are easy to make and are expedient owing to which they have become highly popular and are consumed on a huge basis, which is a key factor driving the growth of the industry during the forecast period. The industry is also taking an upsurge due to the rapid growth of the processed food sector. Moreover, frozen doughs can be used for various purposes making them versatile and suitable for diverse uses thus resulting in their high usage. A positive impact has been experienced by the industry during the COVID-19 pandemic.
A halt was put on eating out by the consumers due to government guidelines and restrictions to curb the spread of the virus. This resulted in a consumer shift towards homemade meals, which in turn, fueled the consumption and purchase of frozen products. Consumers also started to store up such products in mass to avoid running out of them, which also increased the sales of frozen doughs. Thus, the aforementioned factors have positively driven the global industry. The bread segment held the maximum revenue share in 2021 and is expected to grow at a considerable CAGR over the forecast period. The high consumption of frozen bread doughs worldwide by consumers is the primary factor driving the segment growth.
The rising working population and increasing demand for convenience foods are other key factors anticipated to boost the segment growth. Bread doughs are also highly used and favorable as they can be customized depending on the need of the consumers resulting in their increase, thus driving the overall industry. North America accounted for the largest revenue share in 2021. Ready-to-cook products are highly convenient and easily available in the region due to which, their preference is high among the consumers resulting. Moreover, such products are high in demand among the working population leading to overall industry growth. In addition, the high internet penetration rate coupled with the rising use of online platforms for the purchase of food products will support the region’s growth.
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Frozen Dough Market Report Highlights
Asia Pacific is anticipated to grow at the fastest CAGR during the forecast period due to the rising spending on frozen foods as a result of busy lifestyles and high disposable income levels
The food service segment accounted for the largest revenue share in 2021 and is estimated to grow at a considerable CAGR during the forecast period
This is attributed to the high product usage by different food services to save time and energy
The online distribution channel segment is anticipated to grow at the highest CAGR during the forecast period
This growth is attributed to the growing preference of consumers for online channels as they offer several benefits including seller comparison, time-saving, product comparison, and others
Key players are adopting various strategies including global expansion, partnerships, acquisitions & mergers, development & launch of new products, and others to gain a higher share
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