Frozen bakery products to recover post-pandemic

According to Frozen Bakery Products Market, a report by Fact.MR, the global sale of frozen bakery products is projected register a CAGR of 6.3% from 2021-2031.

Between 2016 and 2020, the sales of frozen bakery products surpassed $27 billion, but the onset of the COVID-19 pandemic restricted movements around the world. Because of online shopping, the sales of frozen bakery products did not see a drastic dip. With the opening of supermarkets and hypermarkets, the sales of frozen bakery products is expected to recover, according to the report.

Because of health concerns, manufacturers of frozen bakery products offer healthy alternatives that are fat-free and gluten-free. This, in turn, has affected the sales of frozen bakery products positively. By 2022, the market is expected to reach $29 billion.

Key takeaways from the study include:

• By product type, pizza crust is expected to register 6% CAGR by the end of 2031.

• Frozen bread is projected to create incremental opportunity worth $600 million by 2022, with more than 35% revenue by 2031.

• Asia is to capture 60% of global frozen bakery products revenue until 2031.

• Europe is to account for two-fifths of frozen bakery products sales from 2021-2031.

• Fresh frozen bakery products are to surpass $15 billion in revenue by 2031, gaining a 66% market share.

The report also highlights the competitive landscape of frozen bakery products, which includes Cole’s Quality Foods Inc.; General Mills Inc.; Flowers Foods; Europastry, S.A.; Barilla Holdings Spa; General Waffel Manufactory; Vandemoortele NV and American Desserts among others.

U.S. consumers expected to adopt cultured meat

In partnership with Provoke Insights, Future Meat Technologies, a startup that develops technology to produce cultured meat, surveyed 2,016 American consumers to better understand awareness of and preferences around cultured meat. Key findings from the research include:

More than one in three U.S. consumers surveyed plan to adopt cultured meat into their diet when launched.

• 58% of respondents had a general awareness of cultured meat.

• “Cultured meat” is the preferred term by U.S. consumers, closely followed by “cultivated meat”—as opposed to “cell-based meat” or “cell-cultured meat.”

• More than 50% of respondents have actively changed their diets to become more “conscious,” meaning they’ve adopted a specific type of dietary regimen.

“Cultured meat is closer than ever to the market. As leader in this new industry, it is on us to not only create the product, but also to help the market get familiar with it, mitigate concerns and make it accessible to end consumers,” says Rom Kshuk, CEO of Future Meat Technologies.

The survey was distributed in July 2021 among those aged 18-50 who live in coastal states with a $45K+ annual household income. A total of 2,016 respondents completed the survey. A random stratified sample methodology was used to ensure a high degree of representation of this group in the U.S. population (geographic location, household income, age, gender and ethnicity). Statistical differences between subgroups were tested at a 95% confidence level, with a margin of error of +/- 2.18%.