Frozen Food Market Overview 2020, In-depth Analysis with Impact of COVID-19, Types, Opportunities, Revenue and Forecast 2027

Frozen Food Market by Product Type (Frozen Ready Meals, Frozen Meat & Poultry, Frozen Seafood, Frozen Vegetables & Fruits, Frozen & Refrigerated Soups and Frozen Potatoes) and User (Food Service Industry and Retail Users): Global Opportunity Analysis and Industry Forecast, 2020–2027."According to the report, the global frozen food market garnered $291.8 billion in 2019, and is estimated to reach $404.8 billion by 2027, registering a CAGR of 4.2% from 2020 to 2027.

Changes in lifestyle and food habits, increase in purchasing power of consumers in emerging regions, and rise in numbers of female working population drive the growth of the global frozen food market. However, strict government regulations for storage and increase in number of health conscious consumers hinder the market growth. On the other hand, improved storage facility in small retail storesand rapid development in the food service industry are anticipated to offer new opportunities in the coming years.

Download Sample Copy Of Report@ https://www.alliedmarketresearch.com/request-sample/710

COVID-19 Scenario-
• The sale and demand of frozen food has been impacted in terms of revenue due to operational restrictions in hotels, cafés, and restaurants due to global lockdown.
• However, the long durability of the frozen food products as compare to the regular food products has increased its demand from household end users during the COVID-19 outbreak.

Based on product type, the ready meals segment accounted for more than one-third of the global frozen food market in 2019, and is expected to maintain its lead status in terms of revenue throughout the forecast period. This is due to rise in usage of frozen pizza crusts, bread, and frozen bakery products across the globe. However, the frozen potatoes segment is estimated to portray the highest CAGR of 5.3% from 2020 to 2027. Increase in consumption of fast food and rise in demand for French fries, chips, and other snacks among all age group drives the growth of the segment.

Based on user, the food service industry segment contributed to the highest market share with more than half of the global frozen food market in 2019, and is estimated to maintain its leadership position during the forecast period. This is attributed to increase in demand for frozen meat, seafood, vegetables, potatoes, fast foods, bakery, and other frozen food products. However, the retail users segment is estimated to generate the fastest CAGR of 4.4% from 2020 to 2027. This is attributed to the changes in lifestyle of consumers and growth in the middle-class population in developing economies.

Based on region, Europe accounted for the highest share based on revenue, holding for more than one-third of the global frozen food market in 2019. This is attributed to large spending capabilities of consumers and economic stability, prominence of ready-to-eat healthy breakfast, and presence of numerous food and bakery giants in this region. However, the Asia-Pacific region is estimated to generate the fastest CAGR of 6.90% from 2020 to 2027. This is attributed to increase in demand for products such as frozen dough, breads, rolls, & other confectionery products and rise in number of fast food chains and café shops in this region. Furthermore, North America region is anticipated to manifest the CAGR of 2.2% from 2020 to 2027.

The players in the product market have adopted various developmental strategies to expand their frozen food market share, increase profitability, and remain competitive in the market The key players profiled in this report include Aryzta A.G., Ajinomoto Co. Inc., Cargill Incorporated, General Mills Inc., JBS S.A., Kellogg Company, The Kraft Heinz Company, Nestle S.A., ConAgra Brands, Inc., and Associated British Foods Plc.

Get full insight, From Here: https://www.alliedmarketresearch.com/frozen-food-market

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.