“Mexico Frozen Bakery Market: Product Type, Distribution Channel, Growth Rates and Shares, and Forecast: 2021 – 2030” is a report recently produced by MarketResearch.Biz. This market is projected to register a CAGR of 4.7% over the next 10 years. The Mexico Frozen Bakery market is projected to reach a value of US$ 389.3 Mn in 2030, from a value of around US$ 257.2 Mn in 2021.
In the food industry, the fastest-growing parts of the food processing industry are frozen and refrigerated dough and bakery products. These products include canned refrigerated biscuits, canned refrigerated croissants, sweet rolls, frozen rolls, frozen desserts, and pastries. In addition, this category also includes refrigerated and frozen dough products that are used in the manufacture of other goods or in institutional food services (such as pizza crusts). The products mentioned above are becoming more and more popular due to their ease of preparation, similar to homemade products, and these products provide a way to save time and cost for restaurants and other institutions.
Booming population figures, rapid urbanization, and a good trajectory of disposable personal disposable income are other factors that will affect future demand for frozen bakery products. The level of globalization and the growing demand for frozen bakery products in the hotel and retail sectors, such as snacks, ready-to-eat meals, etc., are also expected to bring opportunities for further market growth.
The COVID-19 pandemic has slowed key trade activities in several countries. The possibility of an impending economic recession may also adversely affect future investment in this sector. The outbreak of this pandemic has affected the respective supply chains of global companies. As major economies have experienced preventive manufacturing lock-in, a considerable gap has formed between market supply and demand, which makes it difficult for manufacturers and distributors to manage their supply operations. This is a major factor that is expected to have a negative impact on the future revenue growth prospects of the Mexican frozen bakery market. However, with the lifting of the mandatory blockade and the reopening of the economy, the market is expected to recover gradually.
Key industry players of the Mexico Frozen Bakery market are – Grupo Bimbo SAB de CV, Kellogg Co., Rich Products Corporation, Gruma SAB de CV, Dawn Food Products Inc, La Huerta, Valores Alimenticios S.A. De C.V, among others.
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