The global frozen food market is expected to expand at a CAGR of 4.5% and will be worth USD 377.3 Bn by 2023. The main factor driving the market is the change in population composition and the change in lifestyle. The proportion of millennials in the population has increased considerably in the recent past. They are starting to consider frozen food as a viable alternative because it is more convenient to use and befits their busy schedule. Additionally, restaurants and fast food chains have also increased the usage of frozen food to make their offerings more cost effective.
The various frozen food products available in the market are meals, fruits and vegetables, meat and seafood, and snacks, among others. The frozen meal market is expected to have the highest global revenue generation of USD 149.9 Bn by 2023 growing at a CAGR of 4.2%. The frozen meat and seafood market is expected to be the second-largest market segment having a global revenue of USD 120.3 Bn by 2023 and CAGR of 3.3%. The growth can be attributed to convenience, availability of various cuisine options and the change of perception of people towards frozen food. Moreover, due to hectic lifestyle, time available for home cooking and grocery shopping is expected to witness a decline. These factors will also contribute heavily to the growth of the market.
Major Key Players of the Frozen Food Market are:
Cargill, Nestle, JBS, Tyson, Kraft Heinz, General Mills, Ajinomoto, BRF, Conagra
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North America is the leading contributor to the global frozen food market. The North American frozen food market is projected to expand at a CAGR of 3.4% during 2018-2023, leading to a regional revenue of USD 183.4 Bn by 2023. However, the Asia-Pacific (APAC) region is anticipated to expand at the highest CAGR of 7.3% between 2018 and 2023. The growth can be attributed to increase in per capita income and rapid urbanization. In the LATAM frozen food market, Brazil, Argentina and Mexico are the key contributing countries. In the MEA frozen food market, Saudi Arabia and the United Arab Emirates are the key contributors.
Major Types of Frozen Food covered are:
Fruits and Vegetables
Meat and Sea Food, Others
– To study and analyze the global Frozen Food consumption (value & volume) by key regions/countries, product type and application, history data.
– To understand the structure of the Frozen Food market by identifying its various sub-segments.
– Focuses on the key global Frozen Food manufacturers, to define, describe and analyze the sales volume, value, market share, market competitive landscape, SWOT analysis, and development plans in the next few years.
– To analyze the Frozen Food with respect to individual growth trends, future prospects, and their contribution to the total market.
– To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
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Table of Content
1 Report Overview
1.1 Study Scope
1.2 Key Market Segments
1.3 Players Covered
1.4 Market Analysis by Type
1.5 Market by Application
1.6 Study Objectives
1.7 Years Considered
2 Global Growth Trends
2.1 Frozen Food Market Size
2.2 Frozen Food Growth Trends by Regions
2.3 Industry Trends
3 Market Share by Key Players
3.1 Frozen Food Market Size by Manufacturers
3.2 Frozen Food Key Players Head office and Area Served
3.3 Key Players Frozen Food Product/Solution/Service
3.4 Date of Enter into Frozen Food Market
3.5 Mergers & Acquisitions, Expansion Plans
4 Breakdown Data by Product
4.1 Global Frozen Food Sales by Product
4.2 Global Frozen Food Revenue by Product
4.3 Frozen Food Price by Product
5 Breakdown Data by End User
5.2 Global Frozen Food Breakdown Data by End User
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In the end, Frozen Food industry report specifics the major regions, market scenarios with the product price, volume, supply, revenue, production, market growth rate, demand, forecast and so on. This report also presents SWOT analysis, investment feasibility analysis, and investment return analysis.
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This post was originally published on Analytics News