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Global Frozen Food Market - Segmented by Type, By Application, By Freezing Technique - Growth, Trend, and Forecast (2019 - 2024)

Global Frozen Food Market - Segmented by Type, By Application, By Freezing Technique - Growth, Trend, and Forecast (2019 - 2024)

  • March 2019
  • 175 pages
  • ID: 5778179
  • Format: PDF
  • By Mordor Intelligence LLP

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Frozen Food Market

The frozen food market accounted for a market value of USD 268 billion in 2016, witnessing a CAGR of 4.1% during 2018-2023. The demand for convenience food products is the major driving factor for this market. Moreover, the demand for convenience is high, as frozen food items reduce cooking, preparation, and clean-up efforts & time for the consumers. The increasing disposable incomes, reducing gender gap in employment, busy lifestyles, demand for healthy and hygienic food, and the high number of working members in the family, are creating a strong background for the huge demand for convenience frozen food products, globally.

Around 90% of frozen food consumers purchase the food due to the convenience of saving time and effort. However, 65% of these consumers, who are the working class, emphasize on the low-effort needed as the major reason to opt for frozen food products. Hence, high convenience plays a large role in the frozen foods sale, worldwide. The demand for ready-packed, easy-to-cook, and ready-to-eat products is expected to grow over the forecast period, which is going to boost the global frozen foods market.

GROWING INVESTMENTS IN TECHNOLOGY DEVELOPMENT, FOR FROZEN FOOD MARKET

The global frozen food industry is investing heavily in new freezing, as well as processing technologies, which can support and differentiate frozen products of one competitor from the other. The major factors to be considered by the frozen food companies are regarding cost reduction of environment-friendly products that have a high preserving quality and are rich in nutrition. New technologies, such as high pressure processing and self-heating packaging for frozen food, are in use in this industry and the market is ready to launch canned foods that can self-heat and de-freeze the ready-to-eat food products.

DEVELOPING ECONOMIES ARE THE NEW LATITUDES IN THE GLOBAL FROZEN FOOD INDUSTRY

Developing economies, such as Asia-Pacific, Latin America, and Eastern Europe, are growing faster than the developed countries, regarding consumption, sales, and production of frozen food products. The increasing disposable incomes, changing lifestyles and growing interest in ethnic and international cuisines are the major factors accelerating the market in these economies.

Frozen Food Market Key Developments

- 2016- Nestle to launch a new brand of frozen peas in Columbus. Outsiders, a new frozen pizza brand from Nestle, plans to bring the taste of Milwaukee and Detroit pizzerias to Central Ohio groceries.

Frozen Food Market Major Players
Nestle
General Mills Inc.
Ajinomoto Co., Inc.
Iceland Foods Ltd.
Mc Cain food
Uniliver Plc

REASONS TO PURCHASE FROZEN FOOD MARKET REPORT
- Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
- Market dynamics, which essentially consider the factors that are impelling the present market scenario, along with growth opportunities of the market in the years to come
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
- Regional and country-level analysis integrating the demand and supply forces that are influencing the growth of the market
- Competitive landscape involving the market shares of major players along with the key strategies adopted for development in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- 3 month analyst support, along with the Market Estimates sheet (in excel)

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