Frozen Food market is expected to register a CAGR of 5% over the forecast period

Frozen Food

The global Frozen Food market to its large volume of database. The global Frozen Food market size is estimated to account for a value of USD 245 billion in 2020 and is projected to reach USD 361.97 billion at a CAGR of 5 % over the forecast period. Furthermore, the global frozen food market report has been aggregated by gathering informative data of market dynamics such as market drivers, restraints, and opportunities. Also, this analytical report makes use of SWOT, PESTLE, and Porter’s Five Forces analyses to get a closer outlook on the global frozen food market. Furthermore, this statistical repository offering estimates of the global frozen food market at the global and regional levels. The study covers the impact of various drivers and manacles on global market growth opportunities.

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The following factors are supporting the growth of the global Frozen Food market growth:

Some notable factors such as increasing demand from global consumers, rising food innovations, increasing geriatric population, changing lifestyle, and rising preference for frozen food has increased the demand for Frozen Food in the global market. Furthermore, rising demand for natural, nutrient-rich food which offers a rich source of vitamins and essential minerals is further boosting the market growth. The frozen fruits & vegetable type segment is marking impressive growth in the market owing to various factors such as rising disposable income, rapid urbanization, growing middle-class population, the increasing popularity of veganism, and changing consumer lifestyle.

The global Frozen Food market report offers a complete examination of the various global companies working over the global regions. Besides, the analysis likewise involves a segment exclusively committed to different driving factors wherein our examiners furnish knowledge on organizations alongside product benchmarking and other global market aspects examination. It offers information based on different viewpoints, such as organization summary, contact information, business strategies, budgetary review, business systems, and key activities by leading manufacturers in the global market.

The global informative market research report has been aggregated based on the following pointers:

  • It offers a pin-point analysis of the global Frozen Food market dynamics such as drivers, restraints, and opportunities, risks, challenges, and threats.
  • It offers a global market forecast assessed based on global market segments and sub-segments
  • It helps in making informed and strategic business decisions by offering insightful views from leading industry leaders
  • A descriptive view of the business framework for understanding the driving and hampering factors in market growth
  • Different approaches for exploring various global market growth opportunities and potential consumers into global regions such as North America, Latin America, Middle East, Africa, Asia-Pacific, and Europe over the forecast period

Over the past few years, the rising trend of employment across the globe is shifting the consumers’ preferences towards Ready-to-Eat (RTE) food products as it takes less time to cook. Owing to the hectic work style, consumers have comparatively less time for cooking at home which has propelled the demand for frozen products such as frozen potatoes, ready meals, meat, and fish.

According to the ‘World Employment Social Outlook’ by International Labour Organization, in 2019, unemployment rates in high-income countries such as U.S., U.K., Germany, and Canada have fallen substantially in the past few years. In addition to this, the world has 3.3 billion working population with the age of 15 and above. This huge working population is gradually shifting towards frozen food products for easy preparation of meals.

Product Insights
The frozen ready meals segment accounted for more than 30.0% of revenue share in 2019 in the frozen food market. The segment is expected to maintain its dominance over the forecast period on account of pre-dominant consumption of ready meals among working-class people around the globe. Furthermore, the frozen meat segment is expected to remain one of the largest segments on account of new product launches including on the go snack options by Conagra and Nestle. Moreover, easy access of such products in brick and mortar stores on a global level is expected to keep the momentum of the segment over the next few years. The potatoes segment is expected to foresee fastest growth at a CAGR of 4.0% from 2020 to 2027 owing to increasing demand for French fries as well as rising application of potatoes in various types of cuisines across the globe. In addition to this, these frozen potatoes are capable to retain all the different types of nutrients and vitamins which are naturally present with a long shelf life. Moreover, they are extremely convenient and flexible in terms of preparation and cooking time.

Leading Players are:

  • General Mills Inc (US)
  • Conagra Brands, Inc. (US)
  • Grupo Bimbo S.A.B. de C.V. (Mexico)
  • Nestle SA (Switzerland)
  • Unilever (Netherlands)
  • Shishi He Deming (China)
  • Bubba Foods (US)
  • Smart Price Sales & Marketing (US)
  • Chevon Agrotech Pvt Ltd (India)
  • Associated British Foods plc (UK)
  • Ajinomoto (Japan)
  • Vandemoortele NV (Belgium)
  • Lantmannen Unibake International (Denmark)
  • Aryzta (US),
  • Puppies (India)
  • Kellogg Company (US)
  • McCain Foods Limited (Canada)
  • Kraft Heinz Company (US)
  • OOB Organics (New Zealand)
  • Omar International Pvt Ltd (India)

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