Frozen food market is now capable of offering its consumers a wider selection of frozen food items such as juice to pizza, pasta, vegetables, stir-fry pasta, fruits and desserts and ready-to-eat meals. Industry experts acknowledge technological advances are responsible, coupled with a few innovative trends for freezing, preservation, transport exhibited in the industry that gives more choices to the consumer than ever. With the rise in booming food industry in emerging markets, the wave of urbanization and globalization have been triggering the market growth for frozen food items since the last decade.
The market might undergo a few transformations such as significantly customer-centric, emphasis on novel packaging leading in an excellent product shelf-life and more consumers willing to spend for nutrition rich foods in the coming years.
According to the latest report on Frozen Food Market published at Upmarketresearch, the frozen food market is highly driven by rise in innovative packaging by food companies leading into increased shelf-life of food products along with rise in demand and increased consumption of food products in Western and Asian economies. A major reason attributing to the market growth is change in consumer lifestyle coupled with rise in number of hypermarket and supermarket dealing in frozen food products. On contrary, low preservation techniques, trade malpractices and high consumption cost might slow down the market pace in the forecast period.
The frozen food market is dominated by the product categories such as frozen ready meals, meat & poultry, sea food & vegetables, soup, potatoes and vegetables & fruits. Meat & poultry relatively have a higher market share in the past due to rise in consumption by health-conscious consumers and ease of availability. Seafood are catching up fast at present due to wide variety of fish and crabs fit for consumption exhibiting various nutrition values.
User segmentation for frozen food market comprises food service industry and retail chain. Retail chains are rising up at a rapid pace registering a remarkable market foothold due to number of reasons such as ethnic and contemporary preparation techniques.
North America and Europe dominates the frozen food market in the estimated period on the grounds of improved storage techniques, abundant availability of sea foods, and rise in number of food retail chains with increase in consumer preference for frozen food stuff. Additionally, consumers have come up with specific demands such as easy to store and cook, improved shelf-life, rich in nutrition with reasonable prices.
Asia-Pacific and MEA regions have a great deal of seafood and frozen food ventures. Consumer awareness and demand for frozen foods have been shaping up the APAC market. The primary consumers of frozen food in APAC and MEA regions being children and elderly population with nutrition demands stimulate the market growth by leaps and bounds.
Major companies operating in the frozen food market include Aryzta AG, Mac Cain, General Mills Inc, Ajinomoto Co Inc, Kraft Foods Group Inc, Cargill Inc, Europastry S.A., Kellogg Company, Nestle S.A., Flower Foods and JBS S.A.