Frozen Food Market – Growth , Study, Trends And Forecasts

Market Insights

The worldwide frozen food market was anticipated at about USD 218 billion in 2010. It is expected to rise to around USD 261 billion by 2015. This growth is likely to take place at about 3.7 percent CAGR. Ease is the primary factor, propelling further demand for the frozen food market. Clients are looking forward to various food cooking alternatives. These alternatives are supposed to take less time for food cooking.

Launches of new products are one of the prime tends in the market. Rising demand for food needing less time for cooking is projected to serve as a vital factor, positively affecting the market. The ease property of frozen food augurs really well for the market and steers it ahead. Expansion in the industry of meat due to growing inhabitants and disposable incomes is also predicted to drive the demand for the frozen food market.

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Accessibility to refrigeration for applications in industrial and commercial freezing is also likely to drive the growth of the market. Moreover, the presence of staple food in freezing packets is also anticipated to have a positive effect on the frozen food market during the forecast phase. Rising business operations and storage for extended period are the other significant factors, increasing the demand for the frozen food market.

Trends

The worldwide market is presently witnessing reasonable expansion. It is likely to expand further during the forecast period. Frozen foods are high on ease factor. This factor is more likely to be considered by the industrialized regions of the world. These regions are also predicted to drive the demand for the frozen food market. Frozen food items, as their name indicates, are stored at extremely cold temperatures to make sure their moisture remains in a solid state.

Other factors pushing the market forward are growing working women across the globe and stressful lifestyles that propel the demand for easy foods. Some of the common examples of frozen foods include meat, fish, vegetables, pizza, etc. The frozen food market is bifurcated on account of products and geographies. The products market includes ready meals, potatoes, meat, fruits and vegetables, fish and soup, all in frozen state.

The geographies frozen food market encompasses four major regions. These are Asia Pacific, North America, rest of the world and Europe. Rising demand for frozen foods across all the aforementioned regions is also expected to steer the sales of the market. The products market was dominated by ready meals in 2013. Ready meals occupied more than 35 percent of the total income. Potatoes are projected to undergo maximum expansion in the coming years.

Europe was the leading region for the frozen food market in 2013. It captured nearly 39 percent of the total income. Asia Pacific is likely to experience the fastest growth in the world. Rising inhabitants and growing disposable incomes in China and India are expected to steer the sales of the Asian Pacific frozen food market. Asia Pacific is anticipated to record about 4.8 percent CAGR during 2014 to 2020.

Frozen Food  Market

Information Source: Grand View Research