The Oman frozen bakery products market is projected to register a CAGR of 4.69% during the forecast period (2020-2025).
Key Highlights
- The frozen bakery products market in the country is considered to be one of the fastest-growing segments of frozen foods, mainly due to the associated trend toward ready-to-bake, ready-to-thaw, or par baked frozen products.
- Organized bakery retails, along with supermarkets and hypermarkets, facilitated the sales 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 frozen bakery products provide foodservice channels with 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.
- Thus, the foodservice outlets, like McDonald’s Oman, are sourcing products, like frozen buns from suppliers, like Aryzta, in order to cater to the market demand. These buns are frozen to preserve their freshness before deliveries, and they can also be stored in frozen condition for a long period without spoilage.
Key Market Trends
Increased Demand for Convenience Food
Increase in demand for convenient food products and drive for greater taste, safety, and consistency are the major factors driving the frozen bakery market in the country. Fast paced and hectic lifestyles compelled consumers to accept convenient food and ready-to-eat products, including frozen bakery products, such as croissants, rolls, bread, and others. These products provide instant service, along with the retention of freshness and taste. Manufacturers have gained profits by supplying these products across various food service outlets, such as coffee chains, in-store bakeries, gas-stations, and QSRs. Moreover, these products ensure year-round availability, which is expected to bode well for the demand. In Oman, Atyab Food Industries produce, both, fresh and frozen bakery products and confectionery items for retail as well as foodservice channels. The bakery at present produces over 24,000 buns, 6,500 packs of slice breads, 26,000 Arabic breads, and a wide variety of muffins, croissants, puff pastries, cakes, and other specialty products. As Oman's foodservice industry is increasing at a faster pace, it provides a room for expansion of frozen bakery products through these platforms.
The Rise in Demand for In-Store Bakery Experience
The evolution of in-store bakeries, primarily due to the increasing number of supermarket/hypermarkets, malls, clubs, and cafeterias, is the major factor capturing the interest of visitors and shoppers. The in-store bakery serves as a purpose of ease and convenience for shoppers, with varieties that come under both freshly baked and/or frozen. Furthermore, the in-store bakery offers an increasing number of artisan and specialty breads, par-baked, and frozen dough bread products, which are available for convenience to the consumers. Moreover, the willingness of consumers to associate specialty baked goods as premium products fetches higher profit margins to these stores. Bread rolls/artisan loaves and sweet baked goods, including cupcakes, doughnuts, and custom cakes, are gaining momentum in the modern retail shelves in-store bakeries. This trend is set to drive the market for frozen baked goods. The sales of frozen bakery products is expected to continue gaining momentum during the forecast period. Bakery products, such as croissants, brownie, cakes, and rolls, are considered as on-to snack products.
Competitive Landscape
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. Additionally, in 2019, Atyab Food Industries expanded its operations. Moreover, Americana Group is well known among consumers, as it has a certain level of domination and has made significant penetration across supermarkets/hypermarkets and convenience stores. Switz Group initiated its business in Oman with joint ventures and acquisitions, and it operates Modern Oman Bakery stores at specific locations in the country.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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