Global Frozen Food Market to Reach US$293.7 bn by 2019, Propelled by Growing Demand for Convenience Food

Transparency Market Research (TMR) has announced the addition of a new market study based on the frozen food market. According to the report, the global frozen food market is set to reach a figure of US$293.7 bn by the end of 2019, from US$224.7 bn in 2012, thus displaying moderate growth at a 3.90% CAGR for the period from 2013 to 2019. The report focuses on the many influencing factors that steer the growth curve of the global frozen food market. Aiming to point out the exact factors that restrain or propel the growth of the market, the report makes use of intensive qualitative and quantitative research techniques.The report is titled “Frozen Food Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019.” The report provides a granular look at the market dynamics and the projections of the global frozen food market.

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Frozen foods, which include meat, vegetables, beans, soups, meals, pizza, and others, are stored at subzero temperatures to ensure that their moisture content does not liquefy, thus preserving the food for a longer time in comparison to fresh food. The market for frozen food is expanding globally due to the global increase in the number of working women. Hectic lifestyles are making consumers rely on convenient foods, which include ready-to-eat or frozen food products. The rising demand from emerging economies, constant product innovation, and attractive packaging are helping the frozen food market attain a high growth rate.

Frozen food makers focus on various freezing techniques, ensuring that the nutritional content of the frozen food is not lost in the process of preserving it. According to TMR analysts, the market for organic and natural frozen food will see many growth opportunities in the coming years. Emerging economies in the Asia Pacific region will contribute massively to the frozen food market. Europe led the frozen food market in 2012 by accounting for a whopping 35% of the global frozen food market.

Some of the factors that can curb the growth of the frozen food market are the reliance on third-party distributors to reach retail consumers, the necessity of maintaining impeccable hygiene, and the need to maintain perfect temperature control in order to maintain the freshness of the frozen foods. To beat these challenges, leading companies will concentrate on M&A strategies in the coming years to reduce the dependency on wholesalers and attempt to reach the retailers and consumers directly.

The report segments the frozen food market by product type into fruits, vegetables, meat, ready meals, fish or seafood, and soup. Out of these, the frozen ready-to-eat meals segment leads the market, accounting for 35% of the total market, and the frozen potatoes segment is anticipated to be the fastest growing segment in the forecast period.

Major companies dealing with frozen food profiled in the report are Birds Eye Foods Inc., Ralcorp Frozen Bakery Products Inc., Amy’s Kitchen Inc., Unilever plc, The Schwan Food Company, Kraft Foods Group Inc., ConAgra Foods Inc., Nestle, Maple Leaf Foods Inc., General Mills Inc, Heinz, and Ajinomoto Co. Inc.

The report segments the frozen food market as follows:

By Product

Frozen Fruits & Vegetables
Frozen Potatoes
Frozen Ready Meals
Frozen Meat
Frozen Fish/Seafood
Frozen Soup

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This release was published on openPR.