Modern work-life culture is intensifying frozen food consumption through the acceptance of several ready-to-eat products offered by many FMCG companies with diverse food brands. A recently compiled business intelligence report by IndusrtyARC has presented that the global frozen food market size offered opportunities worth $220 billion in 2018. and, it projects it to grow with a CAGR of 4.80% during the forecast period 2019-2025. Premiumization activities by major players also acts as a key reason for the frozen food market growth.
The report by IndustryARC, titled: “Frozen Food Market: Product Type (Ready to Eat Meals, Vegetables, Fruits, Meat, Seafood, Soups) Distribution Channel (Supermarkets, Hypermarkets, Online Vendors, Convenience Stores) Geography - Forecast(2019 - 2025).” provides a detailed analysis of frozen food market growth, frozen food market trends, competitive landscape and strategic analysis of the global frozen food market.
Frozen Food Market: Leading Segments
Prevalent consumption of ready meals in Europe is vended majorly from hypermarkets and supermarkets followed by independent retailers and convenience stores. The growing importance of frozen meals, and frozen pizzas specifically in Germany is inspiring to adopt new processing techniques which inculcate rapid freezing of food products. On the other hand it is amplifying the sales of frozen ready meals in this region. The U.K. frozen food sector was accounted for a value of EUR5.5 billion as of February 2018. The frozen food sales in the UK, Spain, Germany, the Netherlands, and Italy have also influenced the dominating share of Europe that is 38.27% in the global frozen food market for the year 2018.
Analyst of the report has identified that the frozen meals & entrees are the fastest growing product type among different frozen food products. It is set to grow at a CAGR of 4.40% over the forecast period 2019-2025. Owing to the demanding work schedules, millennial don’t find time to prepare a full meal, hence they prefer frozen meals & entrees that save time. Along with this, prolonged margins provided by these products are contributing to the growth of the frozen food market. In present scenario, people are habituated to use refrigerators which are indirectly increasing the consumption of frozen food.
Frozen Food Market: Disruptive Trends
o Increasing quick and easy to heat-and-eat style of food products on a daily basis is boosting the growth of the global frozen food market.
o Increased range of frozen food industry expansion especially in cities starting from frozen vegetables to frozen meat, even the full meal options today. It is marketing every classification of food in a frozen form such as fruits, vegetables, fish, meat, chicken, turkeys, seafood’s, candy, snacks, appetizers, beverages, baked goods, breakfast items, desserts, and main courses.
o Frozen food manufacturer’s footsteps towards healthy boundaries of frozen food are increasing the scope for consumers.
o Advanced IQF (individual quick freezing technology) preserves taste and texture of food products. Additionally, it holds on the nutrition values up to the time of consumption.
o Huge investments in the cold storage facilities are paving the path to shape out the frozen food business extension. Growing investments in freezers are increasing the availability of quality frozen space in retail stores by ensuring right storage conditions via cold chain digitization.
o Penetration of modern retail stores as shopping destinations for urban consumers to pick out a wide variety of products which comprises of with quality in convenient pack sizes.
Frozen Food Market: Competitive Landscape
General Mills Inc., Kellogg Company, Europastry S.A., Kraft Foods Group Inc., Cargill Incorporated, Aryzta A.G., Nestle S.A., Ajinomoto Co. Inc., Associated British Foods plc, and Vandemoortele NV are some of the main frozen food market share players that are boosting the growth of global frozen food market.
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A. Frozen Ready Meals Market
B. APAC Ice-creams & Frozen Desserts Market
C. Frozen Desserts Market
What can you expect from the report?
The frozen food market is prepared with the main agenda to cover the following 20 points:
1. Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)
2. Market trends & Relevant Market Data 12. Country level Analysis
3. Manufacturer Landscape 13. Competitor Analysis
4. Distributor Landscape 14. Market Shares Analysis
5. Pricing Analysis 15. Value Chain Analysis
6. Top 10 End user Analysis 16. Supply Chain Analysis
7. Product Benchmarking 17. Strategic Analysis
8. Product Developments 18. Current & Future Market Landscape Analysis
9. Mergers & Acquisition Analysis 19. Opportunity Analysis
10. Patent Analysis 20. Revenue and Volume Analysis
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5. Patent analysis, pricing, product analysis, product benchmarking, value and supply chain analysis can be requested for a country or end use segment.
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