Know More About “Frozen Food Market 2019-2025” Growth Worldwide…..|Grand View Research, Inc.



The global frozen food market size is projected to reach USD 376.95 billion by 2025 registering a CAGR of 4.3%, according to a new report by Grand View Research, Inc. Changing food preferences as a result of rising number of working individuals and Hectic work life schedule have resulted in an increased demand for convenience food and ready meals. This is expected to be the key factor augmenting the market growth. Moreover, high demand for frozen meat due to increasing consumption of meat and meat-based products is also expected to propel the market growth. In terms of revenue, frozen meat product segment is projected to ascend at a CAGR of 4.4% from 2019 to 2025.
Manufacturers are focusing on incorporating new technologies and customized solutions to meet the changing demands of consumers, which is expected to impel the market growth over the forecast period. In addition, using big data analytics to understand the supply value chain, consumer traits, quality criteria, and food safety is expected to help manufacturers widen their customer base. However, most of these products are prepared using partially hydrogenated oil that contains harmful trans fats. Frequent consumption of frozen food increases the risk of cardiac arrest and high blood pressure. Thus, the health concerns related to the consumption of these foods may hinder market growth to some extent.
The market is highly fragmented due to the presence of a large number of global and local companies. Some of the key companies in the market include Bellisio Foods; Wawona Frozen Foods ConAgra Foods, Inc.; McCain Foods General Mills, Inc.; Pinnacle Foods, Inc.; and Nestle S.A. Manufacturers are entering into agreements with downstream companies to increase their operational reach. For instance, Meredith Corporation formed a partnership agreement with Bellis Foods in 2016 to expand their product offerings.
The frozen food market is witnessing a significant rise in demand globally. Will the limited consumer knowledge regarding the possible end to this crisis play an integral role in shaping the near future of the industry? Our team is working to account for the rapid surge in our estimates. The report will account for Covid19 as a key market contributor.
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https://www.grandviewresearch.com/industry-analysis/frozen-food-market/request/rs4
Further key findings from the study suggest:
·         Frozen ready meals emerged as the largest segment in 2018 and is expected to register a CAGR of 4.1% over the forecast period
·         Asia Pacific is expected to witness the fastest CAGR from 2019 to 2025 on account of rising disposable income levels and growing population in the region
·         The global frozen food market is highly competitive. Key companies focus on various strategic initiatives like M&A, product innovation, and product portfolio expansion to maintain their industry position
·         Some of the prominent companies include Inn Foods, Inc.; Nestle S.A.; ConAgra Foods, Inc.; McCain Foods Ltd.; and Imperial Frozen Foods
Frozen food is suitable for storage for longer durations without decay, which is also boosting its demand across the globe. In addition, easy availability of these foods in different types is anticipated to drive the demand further. Rising population coupled with increasing disposable income levels, especially in the emerging regions like Asia Pacific, is also anticipated to have a positive impact on the overall product demand.
Furthermore, the availability of a number of product variants is likely to augment the demand over the forecast period. However, recent issues regarding the presence of porcine and equine DNA in processed food products has challenged the consumer trust. Thus, manufacturers are following the new trend of clean labeling to widen their customer base.
China, India, and Japan were the major markets, in terms of consumer spending on food, owing to the rising consumer expectations on quality food. In addition, escalating demand for convenience food due to hectic lifestyles and growing aging population will boost the market development. The market is highly fragmented due to the presence of many international as well as local companies. Most of the manufacturers have imposed strict norms and regulations for raw material sourcing.
Frozen ready meals product segment accounted for the largest share of over 32% of the global frozen food market in 2018. These meals are easy to cook, can be stored easily, and have a longer shelf life. All these factors are expected to boost the demand in the upcoming years. Frozen meat is expected to be the second largest product segment on account of increasing consumption of meat and meat-based products across the globe. Moreover, availability of a wide range products has benefitted the frozen meat segment.
Frozen fish/seafood segment is also likely to have a significant expansion over the forecast years. Seafood have less carbohydrate and low fat properties, which have led to an increased consumption of these products. Moreover, Italian government is running campaigns to promote the health benefits of seafood resulting in creating growth opportunities for this segment.
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-frozen-food-market
Grand View Research has segmented the global frozen food market on the basis of product
Frozen Food Product Outlook (Revenue, USD Billion, 2014 - 2025)
·         Fruits & Vegetables
·         Potatoes
·         Ready Meals
·         Meat
·         Fish/Seafood
·         Soup
·         Others
Product innovation, diversification, and competitive pricing are several other strategies adopted by companies to increase their sales. For instance, Nestle S.A. developed healthy bowl-style frozen meals keeping the needs of millennials in mind. In addition, the company also focused on incorporating better packaging solutions to increase the shelf life of their products.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


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