Frozen Bakery on Rise; Peru Mango Harvest Starts
The global frozen baked goods market is estimated to reach $32.5 billion in value by 2018, Dirafrost reported on its website (www.dirafrost.com) on November 29. The Herk-de-Stad, Belgium-based frozen fruit supplier is a member of the Agrana Group, whose fruit division sells 450,000 tons of fruit preparations per annum, generating revenues of around EUR 700 million.
Dirafrost’s wide assortment of IQF fruit and fruit mixes for the bakery industry range from apple and apricot to blueberry, strawberry, pineapple, papaya and mango.
The three most important sub-segments of the frozen bakery market, noted Dirafrost, are: pizza crusts (32.2%), breads (25.5%) and patisserie (15.5%). Europe ranks as the market leader in the frozen bakery sector, followed by North America and Asia-Pacific. However, the biggest growth opportunities are in emerging markets. According to figures from Euromonitor and Restaurant News International, the projected growth rate for foodservice in Latin America is 62% in the next five years, 58% in the Middle East, and 46% in Eastern Europe and Russia.
There are two primary drivers moving the business forward.
First is the convenience factor. It is simply easier to preserve the quality of frozen bread and frozen patisserie in the freezer, thus greatly extending the short life span of fresh bread or patisserie. Consumers with busy lifestyles sometimes opt to eat at home, while at other times they prefer dining out. With bread and desserts in the freezer, they can easily make use of them precisely when needed.
The second significant driver is the “food on-the-go” trend. Again, due to busier lifestyles, people increasingly tend to skip breakfast at home in favor of grabbing something to eat at a coffee shop or other foodservice outlet. Supermarkets have also been successful in capturing a share of the frozen bakery market, through an increased number of in-store bakeries.
Meanwhile, Dirafrost reported that the mango harvest in Peru has started and looks good. The quality of the crop is better than last year, according to the Peruvian Association of Mango Producers and Exporters (APEM). Volume is expected to reach 140,000 tons this year, of which 30,000 tons will be processed into frozen and canned products. Production of frozen mango will start in mid-December and peak during the first week of January. Prices are expected to be stable.