Frozen Food Market- Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020-2026

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Frozen Foods Market

• Industry Analysis, Size, Share, Growth, Trends,
  and Forecast (2020-2026)

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• Global Frozen Food market is anticipated to reach
  the market valuation of US 320.06 billion by
  2026 expanding at a reasonable CAGR of 4.6 in
  the course of forecasted period (2020-2026) from
  US 232.42 billion in 2019. Consumers globally
  have recognized frozen food as one of the
  healthier options in the ambit packaged products
  available. Today frozen foods have become more
  accessible owing to the increase in number of
  large format retail stores. Major factors driving
  the industry constitute to be the customer
  craving, rising awareness and acceptance,
  increase in selling points, deeper penetration by
  organized players and surging availability of
  freezer space at the retail domain. Advances in
  freezing technologies, innovative refrigerator
  displays in supermarkets, better and faster
  supply chain solutions have been owing to the
  increasing consumption and therefore growing
  demand of frozen foods. Increase of the global
  population, scarcity of food in some regions,
  strong demand from emerging economies and
  specific demographic changes in the modern world
  have been the prime reasons for the growth of
  frozen foods market. The increasing number of
  women at workplace together with growing number
  of one-person households has also determined the
  upward trend of the demand for frozen foods.
  Frozen foods have become a regular part of daily
  diet worldwide accredited to changing lifestyles
  and increasing lifestyles.

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• Online grocery shopping trend and new
  applications in the retail sector have also
  created several opportunities for overall
  processed food market thereby accelerating the
  frozen foods market. Globalization and increasing
  international trade have been the major factors
  responsible for the development of the frozen
  food industry. With economic development and
  increasing purchasing power parity (PPP),
  consumers now can afford premium products with
  improved nutritional value and shelf life.
  International trade of frozen foods products has
  gained prominence, complemented by improved
  transportation facilities. Increased consumption
  of frozen food products in the emerging markets
  of Asia Pacific and South America has also
  contributed to an increase in the sale of frozen
  bakery products while the demand in developing
  regions is driven by an increase in disposable
  income. Cold chain infrastructure has played an
  important role in driving the frozen food market,
  as it helps to transport products at both the
  domestic and international level. The rise in the
  export and import of frozen food is possible due
  to the strong global cold chain services
  available in developed economies.

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• Based on the product category, the global frozen
  food market is fragmented into ready to eat,
  ready to cook and ready to drink frozen foods.
  The popularity of ready to eat meals has
  witnessed a rapid rise accredited to immense
  convenience and ease offered coupled with
  increasing working women population, increasing
  disposable income and changing lifestyles. The
  segment is anticipated to generate revenue of US
  138.52 billion by 2026. Based on product type,
  the global frozen food market is bifurcated into
  Frozen Meat, Frozen Fish/Seafood, Frozen Ready
  Meals, Frozen Bakery, Frozen Pizza, Frozen Potato
  and others. Frozen Ready Meals segment generated
  revenue of US 54.05 billion in 2019. The Frozen
  Bakery Products segment is anticipated to
  register the highest CAGR growth of 5.1 during
  the forecast period 2020-2026. Based on
  distribution channel, the market is bifurcated
  into supermarket/hypermarkets, Independent
  Retailers, Convenience Store and other channels
  such as specialist retailers and online modes.
  The supermarket/hypermarkets segment is expected
  to generate revenue of US 226.26 billion by 2026
  through the sales of frozen food products.

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• Additionally, for better investigation and
  penetration of frozen foods the report provides,
  detailed country-level analysis was conducted for
  major region/country including Americas (US,
  Canada, Rest of North America), Europe (Germany,
  UK, France, Italy, Spain, Rest of Europe),
  Asia-Pacific (China, Japan, India, South Korea)
  and Rest of the world. Europe was the largest
  market for the frozen food industry in 2019,
  accounting for 38.5 share. Asia-Pacific is
  expected to generate revenue of US 81.74 billion
  by 2026. Some of the major companies profiled in
  Global Frozen Food Market are Nestle SA,
  Ajinomoto, Goya Foods, ConAgra Foods, General
  Mills, Heinz Company, Tyson Foods, Unilever PLC,
  Maple Leaf Foods, Nomad Foods, Mc Can Foods Ltd,
  Dr. Oetker. The players consistently aim to focus
  on various product launches, innovations, energy
  efficient products as well as mergers and
  acquisitions to enhance the consumption of
  frozen foods globally thereby strengthening their
  market position which further offers them growth
  opportunities as well as expansion of product
  innovation and expansion around the world.

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• UMI understands that you may have your own
  business need, hence we also provide fully
  customized solutions to clients. The Global
  Frozen Food Market can be customized to the
  country level or any other market segment.