Frozen Food Market Size, Share, Growth, Trend Analysis and Industry Research Report, 2025
by Susan Hill Business ConsultantThe
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.
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
Access
full research report on global frozen food market:
www.grandviewresearch.com/industry-analysis/frozen-food-market
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Created on Nov 15th 2019 06:03. Viewed 465 times.