Frozen Food Market Survey, Trends, Outlook, Overview and Forecast to 2023

06/gen/2020 12:17:25 suraj taur Contatta l'autore

Market Insight

Global Frozen Food Market is accruing rapidly across the globe. The market is perfectly positioned to benefit from the resurgence of the frozen-food aisle in the otherwise struggling packaged-food sector. This trend is being recognized by investors in the U.S., bidding up shares of frozen-food specialists such as Conagra Brands and Pinnacle Foods. In June 2018, Conagra agreed to acquire Pinnacle for $8.2 billion. Consumers seeking both health and convenience are buying items such as frozen vegetables and meat substitutes, which are boosting the market growth. Global Frozen Food sales are continually rising across Europe too, witnessing the same trend. Specific categories such as frozen fish and seafood are especially rising strong.

Frozen foods have almost become a staple in many kitchens owing to the convenience and taste factor.  Besides, the growing shift in consumer preferences, especially in the young consumer base towards natural and organic products is providing impetus to the market growth. Frozen fruit and vegetables contain more vital nutrients than those that are refrigerated fresh, but in a short to medium timeframe, fitting into the individual’s lifestyle. Lack of time or basic cooking skills are the main reasons why convenient foods are much sought after. Resultantly, the frozen food market is growing pervasively on the global platform.

Competitive Analysis

Manufacturers operating in the Frozen Food Market strive to develop a state of art production facilities where they can make all their products, right from carefully sourcing the raw materials in their own facility. Prominent players in the market include General Mills Inc. (US), Aryzta AG (Switzerland), Kraft Foods Group Inc. (US), Nestle S.A. (Switzerland), Ajinomoto Co. Inc., (Japan), Cargill Incorporated (US), and Kellogg Company (US).

Regional Analysis

Globally, the Europe region is expected to retain its dominance throughout the review period growing at a CAGR of 4.03%. Germany dominates the European market, followed by the market in the U.K.

Asia Pacific region is emerging as a lucrative market for frozen foods. The APAC market value is expected to grow at a CAGR of 4.81%, alongside witnessing a high growth in emerging economies such as China, India, Japan and ASEAN countries. The high consumption of processed and convenience food products and growing demand for ready meals and seafood especially in China and India will support the market growth in the region during the assessment period. On the other hand, Latin American countries demonstrate ample opportunities for expansion to major players.

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Market Segments

The MRFR analysis is segmented into four key dynamics for the convenience of understanding;

By Product Types: Ready-to-Eat, Meat & Poultry, Vegetable & Fruits, Potatoes, Soup, and Seafood among others.

By End-Users: Food Service, and Retail Customers among others.

By Distribution Channels: Hyper Markets, Specialty Retailers, Convenience Stores, and Independent Stores among others.

By Regions: North America, Europe, APAC and the Rest-of-the-World.

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