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Frozen Food Market 2018: Company Profiles, Market Segments, Landscape, Demand and Forecast – 2023

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Market Overview:

Frozen food involves basic food chemistry under which food is conserved by a freezing process and kept in a freezer before cooking.  Frozen food are of various types such as ready-to-eat, meat & poultry, vegetables & fruits, soup, sea food and others. With changing lifestyle and evolving dietary pattern, convenience food plays an important role in defining the consumers’ food choices in the modern world. The trend of consumption of convenience food began in western world and spread to other regions rapidly.

Consumers look for convenience foods as they are easy to use, and possess nutritional value, safety, variety and product appeal. Due to changing lifestyles, consumers are spending less time planning and cooking meals at home as they consider preparing food at home as a chore and is time and energy consuming. The demand for healthy convenience food is increasing. The frozen food is considered convenient as there is no need to put in efforts in washing, or in case of frozen fruits & vegetable which doesn’t require peeling and cutting. Globally the market for frozen foods is estimated to grow at the rate of about 4.21% from 2017 to 2023.

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Key Players:

The key players profiled in the Frozen Food Market are Aryzta AG (Switzerland), General Mills Inc. (US), Kraft Foods Group Inc. (US), Ajinomoto Co. Inc., (Japan), Nestle S.A. (Switzerland), Cargill Incorporated (US), Kellogg Company (US).

Regional Analysis:

The global Frozen Food market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Among these, Europe region is expected to retain its dominance throughout the forecast period and will grow at a CAGR of 4.03%. Asia-pacific will be the fastest growing region in the frozen Food market, market value will grow at a CAGR of 4.81% and high growth in emerging economies such as China, India, Japan and ASEAN countries. Latin American countries, offers ample opportunities for expansion to major players. The high consumption of processed and convenience food products in growing economies of Asia-Pacific and Latin America and growing demand for ready meals and sea food especially in China and India will support the market growth during the review period.

Segments:

Frozen food market has been segmented on the basis of product type which comprises of ready-to-eat products, meat & poultry, vegetable & fruits, potatoes, soup, sea food and others. Among all the segments, ready-to-eat food accounts the highest market proportion over the past few years and it is projected to dominate the frozen food market during the forecast period. However, sea food segment will be expanded at a high growth rate over the forecast period.

Frozen food has been segmented on the basis of end user which includes food service, retail customers. Food service segment will witness higher growth rate than the retail customers over the forecast period.

Frozen food has been segmented on the basis of distribution channel which comprises of hyper markets & super markets, specialty retailers, convenience stores, independent stores.

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Target Audience:

Frozen food manufacturers

Raw material suppliers

End users (food industry)

Retailers and wholesalers

E-commerce companies

Traders, importers and exporters

Key Findings:

Store based segment is anticipated to account the maximum market share in the Global frozen food market throughout the forecast period of 2017-2023.

The sea food segment is projected to register the higher growth rate (4.52%) during the forecast period of 2017 to 2023.

In European region Germany dominates the market, followed by U.K.

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