Global frozen food market accounted for a market revenue of nearly USD 231 billion in the year 2019 and is projected to further grow at a CAGR of more than 5% over the forecast period.
— Global frozen food market is projected to reach nearly 305 billion by the end of 2025. Growing importance of Ready-to-Eat (RTE) food products as a result of hectic lifestyles among working-class individuals on a global level are expected to expand the industry size over the next few years. Moreover, increasing spending on shelf-stable foods among consumers is anticipated to expand the market for frozen food in the near future.
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Global frozen food industry is segmented on the basis of user, product and region. On the basis of user, frozen food industry is divided into retail customers and food service industry. Based on product, frozen food market is divided into frozen soups, frozen fruits & vegetables, frozen potatoes, frozen sea food, frozen poultry & meat and frozen ready meals.
Frozen prepared food, any of the complete meals or portions of meals that are precooked, assembled into a package, and frozen for retail sale. They are popular among consumers because they provide a diverse menu and are convenient to prepare.
Demand for the frozen food products consists of fruits and vegetables, ready-to-eat meat, seafood/ fish, soups and meals. Frozen ready-to-eat meals holds the largest share and is propelled to increase the market up to healthy CAGR in the coming years. Frozen fruits and vegetables is the segment that is projected to show a rise in frozen food market share which invests in the technologies of food freezing.
Value for the frozen food is fueling the market by the change in the taste and preferences of customer for the standard of living. Accepting the hectic lifestyle of professional working has boosted the significant demand for the products of frozen food market. Growth in the focus towards ready-to-eat foods amongst population across the globe, is fueling the frozen food industry growth.
Demand for the market of frozen food are fueling the consumption of frozen foods in the developing regions of ASIAN countries like China and India. The factors that are driving the growth of global frozen food market in these regions are growth in the disposable income on comparing the food habits and standard of living. In addition, fast growth in numerous chains of large retail involving supermarkets and hypermarkets has fostered the value for frozen food in the emerging Asian countries. On the other hand, challenges occurring for the development of global frozen food market size are insufficient distribution of facility in rural and semi-urban regions and absence of facility for proper refrigeration in the stores. Advanced markets are anticipated to continue the growth of frozen food market at moderate speed, boosted by the preference of customer for the healthy frozen foods.
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Factor that is critically fueling the usage of frozen food is from the kitchen. Many of the women in the western areas are choosing the ready to eat foods rather than wasting energy on time consuming meals. In such situations, customers are continuing to purchase the frozen foods and fulfill the demands of population as per the preference of customer. Chef, home cooks and professionals of culinary may not encourage the frozen foods usage and will carry preparation of food to complicate the cooked foods. The other factor playing major role in the frozen food market growth are hectic schedule of the professional workers. Easy availability of frozen foods are motivating the patterns of customer about the products of diet, representing the secure place for the frozen foods in the list of everyday consumables.
Geographically, regions involved in the development of global frozen food market share are U.S, Asia Pacific, Europe and LAMEA. U.S frozen food market is dominated followed by Asia Pacific. U.S holds largest frozen food market share and is expected to increase in the coming years.
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Key Segments in the “Global Frozen Food Market” are-
By User, market is segmented into:
Food Service Industry
By Product, market is segmented into:
Frozen fruits & vegetables
Frozen sea food
Frozen poultry & meat
Frozen ready meals
By Regions market is segmented into:
What to expect from the Global Frozen Food Market report?
Predictions of future made for this market during the forecast period.
Information on the current technologies, trends, devices, procedures, and products in the industry.
Detailed analysis of the market segmentation, depending on the types, devices, and products.
Government regulations and economic factors affecting the growth of the market.
An insight into the leading manufacturers.
Regional demographics of the market.
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Venture capitalists, Investors, financial institutions, Analysts, Government organizations, regulatory authorities, policymakers ,researchers, strategy managers, and academic institutions looking for insights into the market to determine future strategies
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