Published on : May 24, 2017
Albany, New York, May 24, 2017: The report is a professional study on the global frozen food market, collated by referring to various paid and unpaid sources such as press releases, journals, white papers, and presentations.
The report indicates that the global frozen food market is poised to rise at a steady CAGR of more than 6% from 2017 to 2021. Rapid urbanization, especially in emerging countries, is leading to the greater demand for convenient food products, which in turn is providing a fillip to the global market. The consumption of convenience food such as frozen foods is rising with the increasing disposable income and the improving standards of living. Due to hectic lifestyles, consumers are demanding for products with high shelf life, reduced preparation or cooking time, and minimum clean-up times.
The report also suggests that in the coming years, the spiraling demand for gluten-free products will allow the global frozen foods market in gaining traction. The growing incidence of gluten intolerances, food allergies, inflammation, and autoimmune attacks are encouraging the development of gluten-free frozen food products.
Based on product, the global frozen food market is divided into ready-to-eat meals, fruits and vegetables, soup, potato products, fish and seafood, and meat and poultry. Ready-to-eat meals will continue to command the lion’s share in the global marketplace. The increasing number of households run by a single person and the widening base of working women population are stirring up the demand for convenient food products, thereby driving the growth of the segment.
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On the basis of geography, the market is fragmented into Europe, the Middle East, and Africa (EMEA), Asia Pacific (APAC), and Americas. EMEA is likely to dominate the global market until 2021, progressing at a significant CAGR during the forecast period. The growth of the region can be attributed to the availability of a wide variety of frozen products in various countries such as Germany and the U.K. and the increasing demand for convenient food. The high disposable income of the populace also plays a vital role in stirring up the demand for frozen food items.
The dynamics of the frozen food market varies with regions, ethnicity, and demographic trends and therefore, players in the market have to take care of all the socio-economic factors before banking on a particular strategy. In order to expand their shares, the majority of market participants are paying high attention towards diversifying their product portfolio and enhancing their offerings by improving quality and packaging.
The leading players in the market are Conagra Brands, Tyson Foods, McCain Foods, and Amy’s Kitchen. Some other key companies operating in the global frozen food market are General Mills, Ajinomoto Windsor, Kraft Heinz, Greencore, Iceland Foods, Hormel Foods, Nestlé, Nomad Foods Europe, The Schwan Food Company, The Hain Celestial, and 2 Sisters Food.
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