The face of convenience food is changing. Whilst the ready meal sector is still large and popular, it has in the past struggled to provide pastry products that when heated remained crisp. Consumers are demanding pastry products that can be baked fresh without all the work preparing them. This has led to more and more frozen pastry products becoming available both in the supermarket and for use in the catering industry. The frozen pastry market is expected to grow significantly in the coming years and it is being driven for the following reasons:
- The rising popularity of convenience foods. People are increasingly looking for ways to save time and effort in the kitchen, and frozen pastries offer a convenient and easy-to-prepare option.
- The increasing availability of frozen pastries in supermarkets and other retail outlets. This makes it easier for consumers to find and purchase frozen pastries, which is driving demand.
- The development of new and innovative frozen pastry products. Manufacturers are constantly developing new and innovative frozen pastry products. Consumers are being introduced to both savory and sweet pastries that they can freshly bake from frozen in their own kitchens.
According to a report by Grand View Research, the global frozen pastry market was valued at USD 42.95 billion in 2022 and is expected to grow at a CAGR of 4.2% from 2023 to 2030. The frozen pastry market is segmented by product type, distribution channel, and region. The product type segment is further segmented into cakes, pastries, pies, and others.
North America is the largest market for frozen pastries, followed by Europe and Asia Pacific. The growth of the market in North America is being driven by the rising popularity of convenience foods. The growth of the market in Europe is being driven by the increasing availability of frozen pastries in supermarkets and other retail outlets. The growth of the market in Asia Pacific is being driven by the growing middle class and the increasing demand for Western-style foods.
Companies such as Margaret based in Israel are constantly innovating and developing new products based on their local cuisine in order to stay ahead of the competition. They are also investing in marketing and advertising, reaching out to the global market in order to raise awareness of their products and drive demand.
Consumers are buying into the idea of having freshly baked goods without having to do the difficult preparation involved in rolling dough and creating fillings. They are being offered a greater range in their supermarkets and as such, the frozen pastry market is becoming more and more popular.