Frozen food are readily available and offers diverse selection to the consumers as they come in multiple brands. Frozen food are commercially available throughout the year, hence overcomes the problem of seasonal shortages and addressing the problem of food security.
Technological innovation is one of the major factors in measuring growth of frozen food market. Advancement in freezing technologies, innovative refrigerator displays in supermarkets, and better and faster supply chain solutions have resulted in increasing demand of frozen food.
The leading market players in the global frozen food market primarily are Aryzta AG (Switzerland), General Mills Inc. (US), Kraft Foods Group Inc. (US), Ajinomoto Co. Inc., (Japan), Nestle S.A. (Switzerland), Cargill Incorporated (US), Kellogg Company (US).
Study Objectives of frozen food Market Forecast to 2023
• Detailed analysis for individual micro and macro markets for frozen food
• To estimate market size by Product Type, Application, Distribution Channel and Region
• To understand the supply and demand dynamics of frozen food
• Company profiling of major players & competitive positioning for the frozen food market
• Value chain analysis and supply chain analysis of frozen food
• Analysis of historical market trends, and technologies, and current government regulatory requirements related to frozen food market
• Frozen food manufacturers
• Food Service industries
• Retailers and wholesalers
• Traders, importers and exporters
• The Global frozen food market is projected to reach USD 333.56 billion by the end of 2023
• Ready to eat product type is estimated to retain its dominance throughout the forecast period and expected to reach USD 107.75 billion with registering a CAGR of 4.37%
• Food service application is estimated to witness a massive growth of 4.55% during the review period of 2017-2023.
• Store- based distribution channel will dominate the frozen food market holding a lion’s market proportion 61% in the year of 2017 and growing at a rate of 4.32%
Regional and Country Analysis of frozen food market development and demand Forecast to 2023 Market
As per the MRFR analysis, the global market for frozen food has witnessed continued demand during the last few years and is projected to reach USD 333.56 billion by 2023, at a CAGR of 4.21% during the forecasted period. Europe is estimated to dominate the global frozen food market holding a lion’s share of more than 35% and projected to reach USD 121.25 billion by the end of 2023. Asia Pacific will witness the highest growth rate of 4.81% in the global frozen food market whereas North America will witness moderate growth rate.
The reports also cover country level analysis:
• North America
o Rest of Europe
• Asia – Pacific
o Australia & New Zealand
o Latin America
o Middle East