Frozen Processed Food Market Global Industry Analysis and Forecast Till 2021
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The leading players in global frozen processed food market are Stouffer’s, Bofrost, Zhengzhou Sanquan Food Co, Ltd., and McCain. “Collaborating with regional players to enhance product portfolio and reaching out a larger number of consumers are expected to be key strategies of players in the near future,” reports the lead author of this research report. Establishing integrated marketing communication strategies, improving point of visibility, and building a stronger relationship with retailers will also form the basis of successful businesses in the coming years.
Innovation to Tangibly Augment Sales of Frozen Processed Foods
The changing consumer perceptions about frozen processed food items from being convenient solutions to being healthy dietary options have accelerated the demand for the global frozen processed food items. The market is also benefitting from ongoing product innovations and the strong distribution networks established by retail chains. Introduction of a wide range of healthy, natural, organic, and food items with less or no preservatives and additives is also boosting the demand frozen processed food items.
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The lack of time to cook elaborate meals and increasing number of working women have also made a significant contribution to the revenues of the global frozen processed food. The report also indicates that the rising disposable incomes and increasing number of households that own refrigerators especially in the emerging economies of China and India are also expected to propel this market in the forecast period.
Food Adulteration Scandals, Low Awareness Levels Hurting Growth of Frozen Processed Food Market
Low levels of consumer awareness about the difference between chilled and frozen food items is restraining the growth of the global frozen processed food market. Furthermore, much-publicized cases of meat adulteration in the recent past have created a negative perception about frozen processed food amongst consumers. Additionally, the growing concerns pertaining to obesity and unhealthy lifestyles that are associated with the regular consumption of frozen processed food are also impeding sales and, consequently, revenue.
North America to Remain Frontrunner with 0.9% CAGR between 2015 and 2021
According to the research report, the opportunity in the global frozen processed food market is expected to reach US$69.11 bn by 2021 as against US$57.50 bn in 2014. During the report’s forecast period of 2015 to 2021, the global market is expected to rise at a CAGR of 2.7% in terms of revenue. The demand for frozen processed poultry food items is expected to be highest, as the revenue of this segment is projected to reach US$9.91 bn by 2021. North America will be the key regional segment in the overall market and is expected to generate revenue worth US$23.60 bn by the end of 2021, exhibiting a CAGR of 0.9% from 2015 to 2021.
This review is based on Transparency Market Research’s report, titled “Frozen Processed Food Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021.”
Global frozen processed food market to represent an opportunity worth US$69.11 bn by 2021
North America to be the key regional segment with 0.9% CAGR between 2015 and 2021
Demand for processed poultry food items to reach all-time high as the segment is expected to reach US$9.91 bn by 2021
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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