Frozen Food Market to reach US$293.7 Bn by 2019 End

Press Release
Frozen food implies foods which are kept up at a temperature at which all dampness in that is in a strong state. Expanding number of working ladies, change in buyer buying designs, occupied ways of life, accessibility of wide scope of frozen food items in various classes I are the variables prompting more prominent guilty pleasure of frozen food. It is additionally considered as the up and coming age of advantageous prepared foods. The essential crude materials utilized in the generation of frozen food incorporate chicken, fish, pizza, beans and others. Crude material merchants and providers, for example, Cargill Inc., Ingredion Inc. what’s more, others supply different crude materials and fixings as indicated by the exact need to the makers of frozen food as per the standard they have build up during their item testing. The global frozen food market in terms of revenue was valued at USD 224.74 billion in 2012.

The product segment covers various frozen food categories such as frozen ready meals, frozen fish/seafood, frozen potatoes, frozen fruits and vegetables and frozen soup. The frozen ready meal segment includes wide range of products such as frozen pizza, desserts, entrees and snacks etc. The frozen ready meals market is estimated to grow at a CAGR of 3.9% from 2013 to 2019. Frozen potatoes occupied a very small share in the market and are expected to increase their market share in future due to expanding range of applications for frozen potatoes. Frozen vegetables and fruits are considered the product for the next generation due to advancement in freezing technologies which provide products with an extended shelf life; therefore it is expected to increase its market share by 2019.

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In 2012, Europe was the market leader in the frozen food market and accounted for more than 35% of the share. The Europe frozen food market in terms of revenue is expected to grow at a CAGR of 3.8% from 2013 to 2019. In Europe, Germany is the biggest consumer of frozen food and accounted for more than 15% share in the market. In the future, Asia Pacific is expected to be the most promising market occupying 24.8% of the market with economies such as India and China being the chief contributors. But, RoW is expected to witness the highest growth rate due to emergence of Brazil and Argentina as the new market for frozen food. While, the North America market is expected to grow at moderate growth rate in the future.

The global market for frozen food is highly fragmented with the top five players accounting for around 17% share in the total market. Nestle, ConAgra, H.J. Heinz are some of the leading industry participants in this market.  Over the next five years the market concentration is expected to increase as the major players continue to grow through advanced technology, acquisition and different strategies to increase their market share and mainly due to their ability to bypass the wholesalers and sell directly to the retailers. In addition 12.5% of the market was occupied by private label which also acts as a major challenge for the international players to enter and establish themselves in the regional markets. Other which also includes companies such as The Schwan Food Company, McCains and also many local and unorganized brands occupied a combined share of more than 65% in the global frozen food market in 2012.

This post was originally published on Analytics News