The global frozen dough market size was valued at USD 22.97 billion in 2022. The industry is expected to expand from USD 23.94 billion in 2023 to USD 34.58 billion by 2030, exhibiting a CAGR of 5.39% over the study period.
The baking industry continues to hold substantial growth opportunities, and a prominent avenue is the utilization of frozen dough. This method involves preparing the dough and subsequently freezing it until the baking process is initiated. The demand for frozen dough is experiencing a remarkable upswing due to its widespread availability in the market and the convenience it provides to consumers.
COVID-19 Impact:
Surge in Home Cooking Positively Influenced Market Growth amid Pandemic
Unanticipated stress on the foodservice industry was brought by the COVID-19 pandemic, which led to many immediate challenges. However, home cooking and refrigerated dough consumption gained traction amid the pandemic due to the travel restrictions and stay-at-home orders.
Report Coverage:
The report provides in-depth analysis of the key driving and restraining factors impacting the market growth. It further offers comprehensive coverage of the COVID-19 impact on market growth and the major strategies deployed by leading market players to gain a competitive edge. In addition, it highlights the key segments and trends impacting the market.
Drivers and Restraints:
Increasing Popularity of Clean Labeled Products to Escalate Market Growth
A major factor driving the frozen dough market growth is the rise in the popularity of clean-labeled products. These products have gained popularity due to the growing demand for organic and sustainably sourced products among young consumers. Moreover, innovative products are developed by manufacturers to cater to rising consumer demands by providing high-quality, healthy, and sustainable alternatives for consumers and the retail market.
Despite an expanding scope for product adoption, the availability of substitutes and lack of proper storage may impede market growth.
Regional Insights:
North America Dominates with Surging Demand for Ready-to-Cook Convenience
North America dominated the global frozen dough market share in 2022, propelled by the increasing demand for convenient frozen-dough. The rise in popularity of ready-to-cook products, especially among busy working individuals, significantly fuels regional growth.
South America is poised to witness significant growth during the forecast period. Growing urbanization in Argentina, Brazil, and other major economies is driving regional expansion.
Competitive Landscape:
Leading Companies Focus on Mergers and Acquisition Strategies to Expand Market Share
Prominent market players are deploying various strategies such as joint ventures, collaborations, product innovations, and others to fuel market expansion. Several companies are also focusing on mergers and acquisition strategies to solidify their industry footing.
Key Industry Development:
January 2021: FroDo Baking Company, a frozen dough manufacturer and distributor based in the U.S., completed the acquisition of Corbion N.V.’s Frozen Dough Business.
Browse Summary of this Research Report:
https://www.fortunebusinessinsights.com/frozen-dough-market-108484
