Artificial Intelligence
Global Frozen Bakery Products Market (2021 to 2026) – Adoption of Microencapsulation Technology to Improve the Shelf Life of Frozen Bakery Products Presents Opportunities
Dublin, May 18, 2021 (GLOBE NEWSWIRE) — The “Frozen Bakery Products Market by Type (Bread, Pizza Crusts, Cakes & Pastries), Distribution Channel (Conventional Stores, Specialty Stores), and Form of Consumption (Ready-to-Proof, Ready-to-Bake, Ready-to-Eat) – Global Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.
The frozen bakery products market is estimated at USD 22.3 billion in 2021 and is projected to grow at a CAGR of 5.8% to reach USD 29.5 billion by 2026.
Frozen bakery products have witnessed increased popularity due to their ease of preparation and time- & cost-efficiency. The demand for frozen bakery products is projected to remain high due to the increase in awareness and busier schedules of consumers. The increase in the busy lifestyle of consumers in developed regions is a key factor encouraging the purchase of hassle-free and ready-to-bake frozen bakery products.
The cakes & pastries segment, by type, is projected to witness the fastest growth in the market during the forecast period.
The frozen cake is a form of sweet-baked dessert consisting of flavored ingredients, such as fruit extracts. Specialty cakes are gaining popularity, with a high starch-gluten ratio and low-protein wheat. They are further segmented into sponge cakes, muffins, croissants, and pies & tarts. When stored longer than four months, cakes develop a sour flavor. However, those prepared using frozen batter do not produce a bad flavor even after four months of storage. Many pastry producers have started marketing single-serving frozen pastry products, keeping in mind the overall trend of improved convenience and shorter preparation time.
The ready-to-bake segment, by form of consumption, accounted for the largest share in 2020.
Based on form of consumption, the ready-to-bake segment is projected to hold the largest market share between 2021 and 2026. This is due to the increase in demand for pre-baked products that take less time during the baking process and offer the facility of making fresh bakery products. Ready-to-bake form of consumption offers the facility of making fresh bakery products. Consumers perceive them as fresher and more appealing than the wrapped products placed on store shelves that have a longer shelf life.
The food service providers segment, by distribution channel, is projected to grow at the highest CAGR during the forecast period.
Foodservice providers include restaurants, cafes, institutional foodservice channels, and industrial channels for value addition of frozen baked products. Due to the increase in the number of food service providers, such as national and international brands, in the hotel industry, the demand for frozen bakery products is estimated to increase. This is due to the changing lifestyle and growing demand for frozen and par-baked products in restaurants and other institutional food service outlets
High growth is projected in the Asia Pacific frozen bakery products market.
The Asia Pacific market is projected to be the fastest-growing market for the period considered for this study due to the strong potential for growth, given the large-scale urbanization and the increasing need for convenient food products in the megacities of China and India. The region’s enhanced industrialized growth over the years, followed by improvements in the food processing industry and cold chain networks, has created new growth opportunities in the frozen bakery products market. The growing middle-class population of the region, the increase in disposable income, and the demand for on-the-go and convenience food products are projected to drive the growth of the frozen bakery products market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Brief Overview of the Frozen Bakery Products Market
4.2 Frozen Bakery Products Market Share (Value), by Key Region/Country
4.3 Frozen Bakery Products Market, by Distribution Channel & Region
4.4 Europe: Frozen Bakery Products Market, by Type & Country
4.5 Frozen Bakery Products Market, by Form of Consumption
4.6 COVID-19 Impact on the Frozen Bakery Products Market
5 Market Overview
5.1 Introduction
5.2 Macroeconomic Indicators
5.2.1 Digitalization of the Retail Industry
5.2.2 Rise in the Number of Dual-Income Households
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Rise in Demand for Convenience Food Products
5.3.1.2 Developments in the Retail Industry
5.3.1.3 Scratch Baking to Become Obsolete
5.3.2 Restraints
5.3.2.1 Increase in Preference for Freshly Baked Products
5.3.2.2 Need for Constant Temperature Monitoring
5.3.3 Opportunities
5.3.3.1 Adoption of Individual Quick Frozen (Iqf) Technology to Maintain the Freshness of Frozen Bakery Products
5.3.3.2 Adoption of Microencapsulation Technology to Improve the Shelf Life of Frozen Bakery Products
5.3.4 Challenges
5.3.4.1 Lack of Transport Infrastructure Support in Emerging Markets
5.3.4.2 Volatility of Raw Material & Energy Costs
5.4 Impact of COVID-19 on Market Dynamics
5.4.1 COVID-19 to Drive the Demand for Convenient, Healthy, and Hygienic Frozen Bakery Products
5.4.2 COVID-19 Impact on the Frozen Bakery Products Supply Chain
6 Industry Trends
6.1 Introduction
6.2 Ecosystem Map and Supply Chain Analysis
6.2.1 Research & Product Development
6.2.2 Sourcing & Manufacturing
6.2.3 Packaging
6.2.4 Distribution, Marketing & Sales
6.2.5 Manufacturers
6.2.6 Raw Material Providers
6.2.7 Technology Providers
6.2.8 Start-Ups/Emerging Companies
6.3 Value Chain Analysis
6.4 Technology Analysis
6.4.1 Frozen Bakery Products and Iqf
6.4.2 Frozen Bakery Products and Microencapsulation
6.4.3 Frozen Bakery Products and Artificial Intelligence (Ai)
6.5 Average Selling Price Trend
6.6 Yc-Ycc Shift
6.7 Porter’s Five Forces Analysis
6.7.1 Frozen Bakery Products Market: Porter’s Five Forces Analysis
6.7.2 Threat of New Entrants
6.7.3 Threat of Substitutes
6.7.4 Bargaining Power of Suppliers
6.7.5 Bargaining Power of Buyers
6.7.6 Intensity of Competitive Rivalry
6.8 Patent Analysis
6.9 Case Study Analysis
6.9.1 Use Case 1: Cryogenic Flour Chilling System Helps Coles Make Quality Frozen Breads
6.9.2 Use Case 2: Newer Formulations with Nutrition-Dense Ingredients
6.10 Regulatory Frameworks
6.10.1 Asia-Pacific
6.10.2 China
6.10.3 India
6.10.4 Australia & New Zealand
6.10.5 Europe
6.10.6 North America
6.10.7 US
6.10.8 Canada
6.10.9 South Africa
6.10.10 Argentina
7 Frozen Bakery Products Market, by Specialty Type
7.1 Introduction
7.2 Specialty
7.2.1 Fortified
7.2.2 Gluten-Free
7.2.3 Organic
7.2.4 Low-Calorie
7.2.5 Sugar-Free
7.3 Non-Specialty
8 Frozen Bakery Products Market, by Type
8.1 Introduction
8.2 COVID-19 Impact on the Frozen Bakery Products Market, by Type
8.2.1 Optimistic Scenario
8.2.2 Realistic Scenario
8.2.3 Pessimistic Scenario
8.3 Bread
8.3.1 Increased Preference Among Consumers and Availability of Various Frozen Bakery Products to Drive the Market Growth
8.3.1.1 Buns
8.3.1.2 Donuts
8.3.1.3 Scones
8.3.1.4 Loaves
8.4 Pizza Crusts
8.4.1 Popularity of Pizza at Convenience Stores to Drive the Demand for Pizza Crusts Around the World
8.5 Cakes & Pastries
8.5.1 Increase in Demand for Single-Serving Frozen Pastry Products Due to Convenience and Shorter Preparation Time to Drive the Market
8.5.1.1 Pies & Tarts
8.5.1.2 Croissants
8.5.1.3 Sponge Cakes
8.5.1.4 Muffins
8.6 Other Types
8.6.1 Changing Consumer Behavior Toward Processed Foods to Drive the Market Growth
9 Frozen Bakery Products Market, by Distribution Channel
9.1 Introduction
9.2 COVID-19 Impact on the Frozen Bakery Products Market, by Distribution Channel
9.2.1 Optimistic Scenario
9.2.2 Realistic Scenario
9.2.3 Pessimistic Scenario
9.3 Conventional Stores
9.3.1 Popular Purchasing Destination for Consumers and the Availability of Frozen Bakery Products to Drive the Market Growth
9.3.2 Grocery Stores
9.3.3 Mass Merchandizers
9.3.4 Online Retailers
9.4 Specialty Stores
9.4.1 Increase in Consumer Preference for Convenience Product to Drive the Demand for Specialty Stores Offering Frozen Bakery Products
9.4.2 Artisan Bakers
9.4.3 Bakery Stores
9.4.4 In-Store Bakeries
9.5 Foodservice Providers
9.5.1 Growing Demand from Restaurants and Other Institutional Food Services to Drive the Market Growth
9.5.2 Horeca
9.5.3 Institutional Food Service & Catering
10 Frozen Bakery Products Market, by Form of Consumption
10.1 Introduction
10.2 Ready-To-Proof (Frozen Dough)
10.2.1 Increase in Demand for Frozen Dough, Which Acts as a Substitute of Scratch Baking Drives the Market Growth
10.3 Ready-To-Bake (Partially Baked Frozen Products)
10.3.1 Rising Preference for Artisan Bakery Products That Have Longer Shelf Life Boosts the Market Growth
10.4 Ready-To-Eat (Fully Baked)
10.4.1 Rise in Demand for Convenience Food Products Fuels the Market Growth
11 Frozen Bakery Products Market, by Region
11.1 Introduction
11.2 COVID-19 Impact on the Frozen Bakery Products Market, by Region
11.3 Europe
11.4 North America
11.5 Asia-Pacific
11.6 Rest of the World (Row)
12 Competitive Landscape
12.1 Overview
12.2 Market Share Analysis, 2019
12.3 Key Player Strategies
12.4 Historical Revenue Analysis of Key Players, 2015-2019
12.5 COVID-19-Specific Company Response
12.5.1 Grupo Bimbo
12.5.2 General Mills Inc.
12.5.3 Aryzta Ag
12.5.4 Europastry, S.A.
12.5.5 Conagra Brands, Inc.
12.5.6 Associated British Foods plc
12.5.7 Kellogg Company
12.5.8 Vandemoortele Nv
12.5.9 Cargill, Incorporated
12.5.10 Bridgford Foods Corporation
12.6 Company Evaluation Quadrant (Key Players)
12.6.1 Stars
12.6.2 Emerging Leaders
12.6.3 Pervasive Players
12.6.4 Participants
12.6.5 Product Footprint
12.7 Company Evaluation Quadrant (Start-Up/Sme)
12.7.1 Progressive Companies
12.7.2 Starting Blocks
12.7.3 Responsive Companies
12.7.4 Dynamic Companies
12.8 Competitive Scenario
12.8.1 New Product Launches
12.8.2 Deals
12.8.3 Others
13 Company Profiles
13.1 Key Players
13.1.1 Grupo Bimbo
13.1.2 General Mills Inc.
13.1.3 Aryzta Ag
13.1.4 Europastry, S.A.
13.1.5 Conagra Brands, Inc.
13.1.6 Associated British Foods plc
13.1.7 Kellogg Company
13.1.8 Lantmannen Unibake International
13.1.9 Vandemoortele Nv
13.1.10 Premier Foods Group Ltd.
13.2 Other Players
13.2.1 Cargill, Incorporated
13.2.2 Flowers Foods
13.2.3 Bridgford Foods Corporation
13.2.4 Cole’s Quality Foods, Inc.
13.2.5 Dawn Food Products, Inc.
13.2.6 T. Marzetti Company
13.2.7 Rhodes Bake-N-Serv
13.2.8 Pepperidge Farm Incorporation
13.2.9 Ajinomoto
13.2.10 Jbs Bake Service
14 Adjacent & Related Markets
14.1 Introduction
14.2 Limitations
14.3 Frozen Food Market
14.3.1 Market Definition
14.3.2 Market Overview
14.4 Frozen Food Market, by Product
14.4.1 Introduction
14.5 Gluten-Free Products Market
14.5.1 Limitations
14.5.2 Market Definition
14.5.3 Market Overview
14.5.4 Gluten-Free Products Market, by Type
15 Appendix
15.1 Discussion Guide
15.2 Knowledge Store: The Subscription Portal
15.3 Available Customizations
15.4 Related Reports
15.5 Author Details
For more information about this report visit https://www.researchandmarkets.com/r/bix9ve
DUBAI, UAE, May 14, 2024 /PRNewswire/ — TerraPay, a prominent global money movement company, has partnered with Al Ansari Exchange, the largest remittance and foreign exchange company in the UAE and a subsidiary of Al Ansari Financial Services PJSC [DFM: ALANSARI]. TerraPay’s global payment solutions for local payout needs integrated with Al Ansari Exchange’s extensive network expands both organisations scope of operations and improves their capabilities to serve a broader customer base with efficient, secure, and seamless transactions.
With its strong portfolio of financial services and customer-centric approach, Al Ansari Exchange provides its clientele with flexible and reliable remittance options. The latest partnership will allow TerraPay to capitalise on this expertise and expand its presence in the UAE, in line with the company’s strategic objectives of expanding its global footprint and enhancing its offerings.
Ani Sane, Co-founder & Chief Business Officer at TerraPay, commented, “We are thrilled to partner with Al Ansari Exchange, a respected name with a rich heritage in the UAE. This partnership allows us to leverage combined strengths and capabilities. Together, we are prepared to extend our services and better serve customers, making cross-border transactions more seamless and accessible.”
Ali Al Najjar, Chief Operating Officer at Al Ansari Exchange, said, “We are delighted to enter into this strategic partnership with TerraPay, a leading force in global money transfer. This collaboration signifies our commitment to providing our customers with flexible and reliable remittance options. TerraPay’s global network and innovative technology complements our expertise, allowing us to offer a wider range of services.”
The strategic collaboration was unveiled at Seamless Middle East 2024, highlighting how both entities are committed to leveraging technology to enhance the remittance ecosystem. Together, the companies promise to empower clients by enhancing global connectivity, promoting financial inclusion, and driving economic growth in the regions they serve.
About TerraPay:
TerraPay simplifies the movement of money everywhere – providing a single connection to the most expansive cross-border payments network regulated in 31 global markets and enabling payments to 141 receive countries, 210+ send countries, 7.5Bn+ bank accounts and 2.1Bn+ mobile wallets. TerraPay is on a mission to connect a borderless financial world, making moving money everywhere instant, reliable, transparent and fully compliant. TerraPay pushes the boundaries for global businesses – ranging from banks, fintechs and money-transfer operators to travel businesses, creator economy platforms and e-commerce marketplaces – while driving financial inclusion in even the most inaccessible markets. Founded in 2014, TerraPay is headquartered in London, with global offices in Bangalore, Dubai, Miami, Bogota, Dar es Salaam, Kampala, Hague, Dakar, Joburg, Nairobi, Milan, Singapore and is expanding rapidly, having received funding from leading investors, including the IFC (the World Bank), Prime Ventures, Partech Africa and Visa.
About Al Ansari Exchange:
Al Ansari Exchange, the subsidiary of Al Ansari Financial Services P.J.S.C. and the largest outward personal remittance and foreign exchange company in the UAE.
Al Ansari Exchange, established in 1966 and licensed by the Central Bank of the UAE, is the UAE’s first exchange company that grown to be the largest outward personal remittance and foreign exchange company in the country with over 256 branches across the Emirates (as of December 2023). With over 4500 multilingual employees, the Company conducts 134 thousand transactions per day (as of December 2023). Al Ansari Exchange has contributed about 40% of the core operating income of exchange houses in the country and constituted 74% of the consolidated net profit for the exchange houses. In terms of contribution to the foreign exchange business, Al Ansari Exchange made up 32% of the income generated by exchange houses as well as 46% of income in the remittance business. Since its founding, the Company has significantly scaled its digital presence through its award-winning app, website and in-branch smart counters, enabling it to capture a 41% share of the digital outward personal remittances market among exchange houses in 2021, according to a report by Edgar, Dunn and Company.
For more information visit: www.alansari.ae
For media inquiries, please contact:
Juveria Samrin [email protected]
Dana KhalafCorporate Communications and Investor RelationsAl Ansari Financial ServicesTel: (971 4) [email protected]
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Pioneering program will augment the abilities of UST’s workforce while equipping them with cutting-edge skills and knowledge
MELBOURNE, Australia, May 15, 2024 /PRNewswire/ — UST, a leading digital transformation solutions company, has launched a groundbreaking new initiative to train over 25,000 of its employees globally in Generative AI (GenAI) and provide opportunities for career advancement. This ambitious program builds on UST’s long history in artificial intelligence (AI). It underscores its commitment to comprehensive workforce training and upskilling, keeping its talented personnel future-ready and always at the cutting edge of technological innovation.
The AI training program exemplifies UST’s commitment to leveraging its considerable knowledge and expertise to maintain its leadership position in this rapidly evolving field. The program comes just months after the unveiling of UST AlphaAI, which consolidates the company’s AI offerings to enhance business agility, streamline operations, and accelerate digital transformation journeys.
UST will offer a range of GenAI training programs that are specifically tailored to its employees and their different roles and responsibilities, improving efficiency while helping each employee reach their own unique potential. The comprehensive training program will build upon insights gained through UST’s rich history of collaboration and partnership with distinguished AI researchers from renowned academic institutions such as the MIT Computer Science & Artificial Intelligence Laboratory and the Stanford Artificial Intelligence Laboratory. This legacy of close collaboration with leading researchers will help UST expand on its culture of continuous learning by bringing the latest academic breakthroughs to its workforce.
“Our comprehensive GenAI training initiative will set a new industry standard and bring over 25,000 employees up to speed on everything from foundational GenAI concepts to cutting-edge applications. Adaptable and customizable for each participant, the flexible training program provides hands-on experience with industry-leading tools and platforms like GitHub Copilot, setting our employees up for future success by ensuring that they can apply GenAI capabilities across diverse domains,” said Sunil Balakrishnan, Chief Values Officer and Global Head – Development Centre Operations, UST.
“At UST, we recognize that the key to staying competitive in today’s fast-paced digital landscape lies in the continuous upskilling of our workforce. As GenAI continues to revolutionize industries and transform business operations, we remain dedicated to equipping our employees with the tools and knowledge they need to leverage these cutting-edge technologies effectively,” said Dr. Adnan Masood, Chief AI Architect, UST.
This pioneering GenAI training initiative exemplifies UST’s commitment to fostering a dynamic, future-ready workforce that remains at the forefront of GenAI advancements. By further augmenting the talents of UST employees, the training program will drive innovation and create a meaningful impact for clients and partners alike.
About UST
For more than 24 years, UST has worked side by side with the world’s best companies to make a real impact through transformation. Powered by technology, inspired by people, and led by our purpose, we partner with our clients from design to operation. Through our nimble approach, we identify their core challenges, and craft disruptive solutions that bring their vision to life. With deep domain expertise and a future-proof philosophy, we embed innovation and agility into our clients’ organizations—delivering measurable value and lasting change across industries, and around the world. Together, with over 30,000 employees in 30+ countries, we build for boundless impact—touching billions of lives in the process. Visit us at www.UST.com.
Media Contacts, UST:Tinu Cherian Abraham+1 (949) 415-9857
Merrick Laravea+1 (949) 416-6212
Neha Misri+91-9284726602
Roshni Das K+91 [email protected]
Media Contacts, India:Adfactors [email protected]
Media Contacts, U.S.:S&C [email protected]
[email protected]
Media Contacts, U.K.:FTI [email protected]
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Artificial Intelligence
Wondershare showcases its Enterprise Solution Excellence at VivaTech 2024 in Paris
VANCOUVER, BC, May 14, 2024 /PRNewswire/ — Wondershare, a leading developer of creative and productivity software solutions, today announced its participation in VivaTech 2024, Europe’s biggest technology and startup event,. Wondershare is set to demonstrate its unwavering dedication to small and medium-sized businesses (SMBs) and corporate clients at VivaTech 2024. The event will take place from May 22nd to 25th, 2024, at Hall One-M14, Paris Expo Porte de Versailles.
Under the theme “Get Work Done Fast and Unleash Furious Creativity” Wondershare will unveil the latest version of its flagship creative and productivity suite, featuring Filmora, PDFelement, and Edraw.
Wondershare’s commitment to excellence is further underscored by the recent accolades received by PDFelement and HiPDF, with 58 G2 Awards, including the prestigious Leaders award and Highest Users Adoption recognition.
Meanwhile, Filmora has launched a new desktop update, enhancing user experience with key UI/UX improvements and intelligent color grading options. This update includes hundreds of filters and LUTs, catering to marketers, educators, and creators of all levels. By integrating Microsoft AI by adding the personal speech feature in, Filmora will continuously bring in surprises to the esteemed users.
Additionally, Wondershare Edraw continues to uphold its reputation by introducing EdrawMax’s new AI-native page for instant diagram creation. Users can input text and receive a diagram in 10 seconds that can be downloaded and edited for customization. Meanwhile, EdrawMax has expanded to include 24 AI diagram types, such as flowcharts, mind maps, timelines, and more.
“As VivaTech 2024 approaches, we eagerly anticipate showcasing our latest innovations. We extend a warm welcome to our prestigious clients and users to visit our booth. It’s a prime opportunity to experience firsthand how our products can revolutionize workflows and unleash your full potential.” – Iris L, PR Director at Wondershare.
For media inquiries, please contact [email protected].
For more information about Wondershare, please visit Wondershare.
About Wondershare
As a renowned global leader in creativity and productivity solutions, Wondershare is dedicated to making cutting-edge technology accessible to everyone, fostering increased efficiency and creativity. Our commitment to excellence has been recognized through prestigious accolades from organizations like The Shorty Awards, G2, and GetApp. With a user base spanning over 100 million individuals across 150 countries, we offer diverse software solutions encompassing video editing, PDF manipulation, data recovery, diagram creation, graphic design, and more.
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