Frozen food: Key market research findings
- Rise in product innovations and features
- Growing consumption of frozen ready meals
Technavio has released a new market research report on the global frozen food market, which is expected to grow at a CAGR of around 4% between 2015 and 2019. Consumers prefer ready to eat meals that can reduce their cooking and clean up time. Moreover, the ease of use associated with the packaging technique and the microwave cooking support for frozen food is also making frozen food a popular choice for consumers. Europe dominates the global market for frozen foods, accounting for around 34% of the overall market share. The frozen processed food’s longer shelf-life compared to chilled formats offers greater convenience by maintaining ingredient freshness and nutritional quality, thereby driving the market growth. Germany is the market leader in this region.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Vendors, globally, are innovating in terms of product formulations and packaging to keep the frozen food fresh. Organic and natural frozen food have also gained momentum in the market among cost and health-conscious consumers. For instance, Atkins Nutritionals launched 20 frozen meals products such as teriyaki beef stir-fry, meatloaf with portobello mushroom gravy, etc. to suit the consumers’ needs and diet,” says Vijay Sarathi, Lead Analyst, Food & Beverages, Technavio Research.
Frozen ready meals leads the frozen foods market, with a market share of 34%. The increasing number of older population (50 years and above) and children who favor instant meals rather than a fully cooked meal are the key drivers for the growth of this segment. These meals are also considered to be healthier in comparison to other ready meals as they do not contain preservatives and are free from microbial attacks.
The leading vendors in the global frozen food market include Amy’s Kitchen, ConAgra Foods, General Mills, Heinz, Iceland Foods, Maple Leaf Foods, McCain, Nestlé, The Schwan Food Company, and Tyson Foods. The market is highly fragmented due to the presence of numerous small and large vendors. Vendors in the market compete on the basis of price, quality, innovation, service, reputation, distribution, and promotion.
A more detailed analysis is available in the Technavio report, Global Frozen Food Market 2015-2019.
We can customize reports by other regions and specific segments upon request.
Other related reports:
- Frozen Food Packaging Market in the US 2015-2019
- Frozen Yogurt Market in US 2015-2019
- Global Frozen Pizza Market 2015-2019
- Global IT Spending in Food Delivery Marketplace 2015-2019
- Global Ice Maker Market 2015-2019- Market Research
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