A report by Mordor Intelligence, an India-based industry analysis and consulting firm, expects the frozen baked products market in the sultanate to record a compound annual growth rate of 4.69 per cent in the period of 2020-25.
The frozen bakery products market in the country is considered one of the fastest-growing segments within frozen foods, mainly due to the trend towards ready-to-bake, ready-to-thaw or par-baked frozen products, the report stated.
Organised bakery retailers, along with supermarkets and hypermarkets, have facilitated the sale of frozen bakery products in the market. ‘Furthermore, the development and investments, in terms of capacity expansions, along with product innovations, are driving the growth of the frozen bakery products segment.’
The report said domestic manufacturers are forecast to take the market ahead.
‘Companies operating in the Omani frozen bakery market are focusing on expansion. Although the country is import dependent, in terms of frozen bakeries, domestic brands gained prominence due to consumers’ requirement for locally manufactured products.’
It added that frozen bakery products provide foodservice channels the opportunity to
reduce costs and consistently deliver premium quality, fresh-baked products throughout the day, thereby, increasing the consumption of products among foodservice outlets.
The report pointed out that the increased demand for appropriate food products and the pursuit of more taste, safety and consistency are among the main factors driving the growth of the frozen baked products market in the sultanate.
Fast lifestyle forces consumers to accept ready food and products, including frozen baked products, such as croissants, wraps, bread and more.
© 2021 Apex Press and Publishing. All Rights Reserved.