Frozen Food Market is Expected to be Flourished by Increasing Demand for Convenience Foods

 

Frozen food products including vegetables, meats, poultry, seafood, ready meals, snacks, fruits, and desserts are an excellent solution for extending shelf life and preserving freshness of food without adding any preservatives. The convenience, affordability, and nutritional value of frozen food are driving its demand among the consumers.

The global Frozen Food Market is estimated to be valued at US$ 167116.37 Mn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Rising demand for convenience food products is one of the major factors propelling the growth of the frozen food market. Busy and hectic lifestyles have raised demand for convenient, easy-to-cook and easy-to-eat food options. As frozen foods do not require much preparation or cooking time, they offer high convenience to the time-pressed consumers. Working professionals, single adults, and young consumers highly prefer frozen food products. With rising nuclear families and dual-income households, the demand for frozen food is expected to grow significantly over the forecast period. Moreover, increasing women workforce participation has also augmented the demand for convenient frozen food options, thereby fueling market growth.

Segment Analysis

The global frozen food market is dominated by ready meals segment which holds around 35% of the total market share. This is because ready meals are extremely convenient to consume, do not require any preparation time and are increasingly becoming popular among millennial working professionals with busy schedules. The fruits and vegetables segment is projected to grow at the highest CAGR during the forecast period due to rising health consciousness among consumers and increasing demand for healthy frozen snacks and meals.

Key Takeaways

The global frozen food market is expected to witness high growth over the forecast period.

Regional analysis related content comprises
The Asia Pacific region is projected to grow the fastest during the forecast period owing to rising population, growing disposable incomes, urbanization and changing dietary habits in countries like China, India and other Southeast Asian countries. China dominates the Asia Pacific frozen food market and is expected to continue its dominance in the coming years as well. North America currently accounts for the largest share in the global frozen food market mainly driven by the U.S., whereas demand is growing rapidly in European countries like UK, France, Germany and Italy.

Key players related content comprises

Key players operating in the frozen food market are focusing on new product launches, acquisitions and geographical expansions to cater to rising demand and gain majority market share. Nestle S.A. is the global leader in frozen foods with strong brands like Hot Pockets and DiGiorno. Other major players like Ajinomoto Co., Inc., Kraft Foods Group, Inc., ConAgra Foods, Inc., General Mills, Inc., H.J. Heinz Company, Tyson Foods, Inc. and Unilever Plc. are investing heavily in research and development to launch healthy and innovative frozen snacks and meals.

Comments

Post a Comment

Popular posts from this blog

Nonylphenol Ethoxylate Market Size 2023 | Key Growth Drivers and Latest Opportunities

Image
Nonylphenol Ethoxylate  Nonylphenol ethoxylate (NPE) is a group of nonionic surfactants that are commonly used in a variety of industrial and household applications. They are produced by reacting nonylphenol with ethylene oxide, resulting in a range of products with varying degrees of ethoxylation. NPEs have been used in detergents, cleaning products, and personal care products as a surfactant, emulsifier, and wetting agent. They are also used in industrial applications, such as in the production of textiles, paper, and leather. However, NPEs have been found to be persistent in the environment, and are known to be toxic to aquatic life. They are also known to disrupt the endocrine system of animals, including humans, by mimicking the effects of estrogen. For these reasons, the use of NPEs has been restricted or banned in some countries, including the European Union and Canada. Many manufacturers have switched to using alternative surfactants, such as alcohol ethoxylates, which are cons
Read more

Hydrogen Peroxide Market Unveiled: Exploring Global Trends, Growth Drivers, and Future Prospects

Image
  Hydrogen Peroxide Market Overview Hydrogen peroxide (H₂O₂) is a chemical compound with a variety of industrial and consumer applications. It is a pale blue liquid, commonly used as a disinfectant, bleaching agent, and oxidizer. The hydrogen peroxide market is driven by its extensive use across various sectors, including healthcare, paper and pulp, textiles, food processing, electronics, and water treatment. Market Drivers Healthcare Industry:  Hydrogen peroxide is widely used as a disinfectant and antiseptic in the healthcare sector. It is employed for cleaning wounds, sterilizing medical equipment, and as a mouthwash. The ongoing emphasis on healthcare and hygiene has contributed to the  hydrogen peroxide market growth . Paper and Pulp Industry:  Hydrogen peroxide is utilized as a bleaching agent in the paper and pulp industry. It helps to whiten paper products and remove impurities, contributing to the production of high-quality paper. Textile Industry:  In the textile sector, hydr
Read more

Polyferric Sulfate Market Analysis: Growth, Trends, and Opportunities

Image
Polyferric sulfate, also known as PFS, is a chemical compound that finds widespread application in various industries. This inorganic coagulant is primarily utilized for water treatment and purification processes. It is an iron-based coagulant that is highly effective in removing impurities, such as suspended solids, organic matter, and contaminants, from water sources. Polyferric sulfate is known for its superior coagulation and flocculation properties, making it a preferred choice for treating both industrial and municipal water supplies. The market for polyferric sulfate has witnessed significant growth over the years due to increasing concerns about water quality and the need for efficient water treatment solutions. As populations grow, industrial activities expand, and environmental regulations become more stringent, the demand for reliable water treatment chemicals like polyferric sulfate has surged. This has led to a robust market expansion, driven by the critical role that PFS
Read more