Global Frozen Food Industry
The world frozen food business market represents the leading segment of the packaged food business, accounting for more than 41% of the overall market in terms of value.
Growing consumer awareness concerning the benefits of a fresh foods diet has proven an obstacle to growth in the frozen food production industry, reports IbisWorld. Over coming years, frozen food manufacturers will concentrate on product innovation to offer a wider range of products and market their goods to emphasize nutrition and convenience.
Frozen Food Key Segments
Consumers are opting for frozen prepared food as an alternative to fresh cooked food due to convenience, time constraints and freshness. Consumers’ limited time for cooking continues to push manufacturers to avail of advancements in technology to offer new frozen food products. Marketing campaigns focus on the freshness of frozen food and product innovation. Other factors fuelling growth in this market include rising levels of disposable income, a growing consumer base of both nuclear families and singles ill equipped to tackle the kitchen, increasing demand for ethnic foods, and higher consumer awareness of the benefits of healthy eating.
Frozen pizza represents the leading segment in the prepared frozen foods market, reports Global Industry Analysts. Product innovation has proved key, with new products like pizza strudel and pizza-on-a-stick proving popular. The economic recession fuelled market growth as consumers looked for more convenient, cheaper meals as an alternative to eating out or buying take-out. Pizza chains are encroaching on the frozen pizza market through promotional offers. The frozen pizza segment is still recording growth and rising sales thanks to new product offerings, promotional efforts and enhanced ingredients.
In the frozen desserts market segment, sales have been growing in part due to the popularity of new ice cream products geared toward adults, reports Global Industry Analysts. Consumers are buying ice cream as a weekend treat, for after dinner and for eating while watching TV or movies at home. Ice cream manufacturers are catering to consumer demand for healthier products by offering a range of low-fat ice creams.
Ice cream manufacturers are focusing their marketing and product innovation efforts on catering to more health-conscious consumers. There is an increasing trend toward ice creams with reduced fat content, limited preservatives and less artificial ingredients. Manufacturers are including healthier ingredients to appeal to a wider-range of consumers.
The frozen fruit and vegetable market segment has been benefiting from advanced freezing technologies, which allow manufacturers to preserve fruit and vegetable nutritional values for longer, reports BizAcumen. Product innovation continues to prove vital for manufacturers to remain competitive. Frozen food companies are concentrating on promoting nutritionally fortified products with better taste and reduced preparation times. Demand will also be fuelled by increased emphasis on fruit and vegetable consumption, coupled with the fact that consumers have less and less time for shopping and cooking but remain aware of the importance of including fruit and vegetables in their daily diets.