Global Frozen Food Market Research Report- Forecast to 2023

SKU ID : MRF- 10850890

Publishing Date : 02-Jun-2017

No. of pages : 152

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  • The global frozen food market is expected to exhibit a substantial growth of 4.21% during the forecast period of 2017-2023. The significant factor driving the growth of the frozen food market is the increasing demand of ready to eat food both in developed and developing economies as well as development of freezing technology. The convenience trend and changing lifestyle leading to evolving dietary patterns and spending habits of consumers which led to the surge in sale of convenience food. Also, increasing number of working female population in developing economies is also one of the major factor to fuel the sales of frozen food. Rising number of nuclear families in developed countries coupled with the mounting migration of people from rural areas to metropolitan cities is anticipated to drive the demand of frozen food in the upcoming decade. The frozen food market offers a lucrative opportunity in the retail industry. Retail industry is observing a substantial growth over the last decade which in turn positively impacting the overall demand of frozen food. The successful retail marketing resulted in consumer inclination to buy the products from the super markets & hyper markets instead of the normal grocery shop or mom and pop shops.
    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.
    Key Players
    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
    Target Audience
    • Frozen food manufacturers
    • Food Service industries
    • Retailers and wholesalers
    • Traders, importers and exporters

    Key Findings
    • 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 US
    o Canada
    o Mexico

    • Europe
    o Germany
    o U.K.
    o France
    o Italy
    o Spain
    o Rest of Europe

    • Asia – Pacific
    o China
    o India
    o Japan
    o Australia & New Zealand
    o Indonesia
    o Others

    • RoW
    o Latin America
    o Middle East
    o Africa
    o Others