Frozen Food Market Overview:
Global frozen food market is expected to garner $306 billion by 2020, registering a CAGR of 4.1% during the forecast period 2015 - 2020. The deep frozen food products that can be stored and used over a long period are referred to as frozen foods. The most widely used frozen food products include frozen ready-to-eat meals, fruits & vegetables, meat & poultry, sea food, soups and similar array of products.
The global frozen food market comprises retail as well as business customers. Retail customers of frozen food are individuals and households, whereas business customers include hotel chains, fast-food outlets, caterers, and other business buyers. Retail customers mostly prefer cooked and semi-cooked ready-to-eat food, meat, and soups amongst the class of available products in the market. While business customers majorly use frozen meat, sea food, frozen pizza crust, bread, frozen dough, potatoes, and vegetables as the key ingredients for preparing food for end customers. Based on geography, Europe is the largest market, closely followed by North America.
The growth of the frozen food market would primarily be driven by the growing demand and consumption of frozen foods in the developing markets across the Asian countries such as India and China. Increase in disposable incomes coupled with change in lifestyle and food habits are major factors that boost the market growth in these regions. Moreover, a rapid increase in number of large retail chains including hypermarkets and supermarkets has bolstered the demand of frozen food in the developing Asian countries. However, lack of proper refrigeration facility in retail stores and inadequate distribution facility in semi-urban and rural areas are the major challenges for the industry in developing markets. The developed markets are expected to continue their grow at a moderate pace, majorly driven by the mounting consumer preference for healthy frozen foods.
The market is segmented based on the product type, user, and geography. The products covered in the report include frozen ready meals, meat & poultry, sea food, vegetables & fruits, potatoes, and soup. Based on the user type, the market is segmented into retail users and food service industry (hotel chains, restaurants, and caterers). To gain a comprehensive understanding, the market is analysed by the key geographical regions, namely, North America, Europe, Asia-Pacific, and LAMEA. North America and Europe are the large developed markets of frozen food, whereas developing markets including Asia-Pacific and LAMEA are catching up fast.
Major companies that operate in this market have adopted acquisition and new product development as their key business strategies to gain a competitive edge over the other players. Aryzta is one of the largest suppliers of frozen bakery in North America and Europe. Nestle is a leading player in frozen pizza segment in North America and Europe. Mac. Cain foods launched local food variants in India, developed specifically as per the traditional food habits of customers. Leading players profiled in the report include Aryzta A.G., General Mills Inc., Kraft Foods Group Inc., Ajinomoto Co. Inc., Cargill Incorporated, Europastry S.A., JBS S.A, Kellogg Company, Nestle S.A., and Flower Foods.
FROZEN FOOD MARKET KEY BENEFITS:
The study provides an in-depth global frozen food market analysis along with current and future trends to provide proper understanding of the market, thereby helping to gain a competitive advantage
The report provides detailed information about key drivers, opportunities, and restraints along with their impact analysis
Quantitative analysis of the current frozen food market trends as well as forecast through 2015‐2020 with valuable insights would help in better decision-making
The report provides Porter’s Five Forces model for a complete analysis of market dynamics
The frozen food market research provides analysis of major players, their market development, diversification, investment, and marketing strategies
Frozen Food Market Segmentation
By Product Type
- Frozen Ready Meals
- Frozen Meat & Poultry
- Frozen Sea Food
- Frozen Potatoes
- Frozen Vegetables & Fruits
- Frozen Soups
- Food Service Industry
- Retail Customers
- North America
- Aryzta AG
- General Mills Inc.
- Kraft Foods Group Inc.
- Ajinomoto Co. Inc.
- Cargill Incorporated
- Europastry S.A.
- JBS S.A.
- Kellogg Company
- Nestle S.A.
- Flower Foods