ID: MRFR/F-B & N/0760-HCR | February 2021 | Region: Global | 100 pages
Foods made to undergo certain changes by physical and chemical means to impart certain properties into them. Food, including ready-to-eat foods, undergo processing to enhance their shelf-life. There are various methods used to process food products, freezing being one of the most popular techniques used globally. Freezing of food products is carried out at a temperature of -6°F which tends to inhibit bacterial growth. Additionally, the process has gained its popularity based on the effectiveness and relatively low production cost of the processed foods produced by this technique.
Retained organoleptic property and nutritional value of the end-product is one of the key drivers supporting the growth of Frozen Processed Food Market. The shift in consumer lifestyle and increasing demand for “grab-and-go” convenience food have been supporting the sales of frozen processed foods. Increasing per capita disposable income and improving economic conditions in various countries have resulted in consumers having access to a wide range of food options, in turn, fueling market growth. Increasing demand for frozen, sweetened bakery products from the youth population is also influencing the growth of the market. Owing to these factors, the market for frozen processed foods is projected to witness a CAGR of 5.60% during the forecast period from 2020 to 2027.
Frozen Processed Food Market by Segmentation
By type, frozen processed food market has been segmented into frozen fruits & vegetable, frozen meat & seafood, frozen bakery products, frozen dairy products & desserts, and others. In the past few years, huge investments have been made in the frozen meat market. Hence, the segment is projected to witness high CAGR during the forecast period. The popularity of frozen meat products is surging in North America and Asia-Pacific. Key players for frozen meat market are identified to expand their geographical presence within the U.S. to generate high revenues.
Frozen processed food market has been segmented by distribution channel into store-based and nonstore-based channels. Based on the consumers’ one-stop and convenient shopping experience, the sales of frozen processed foods through store-based channels is projected to dominate the market.
Among regions, North America is projected to dominate the market. The major factor supporting the high market share in North America is high consumer inclination towards convenience foods.. The hectic lifestyle and increasing population of working women majorly in the U.S. has a positive impact on the frozen processed food market. Increasing investments by key players in the R&D sector is also supporting the market growth. However, increasing consumer awareness about the demerits of consumption of processed food is identified to be one of the major restraints for the market growth.
Key Player & Industry News
The key players in the global frozen processed food market are General Mills, Inc. (U.S.), Kraft Foods Group, Inc. (U.S.), Nestlé SA (Switzerland), ConAgra Foods, Inc. (U.S.), Tyson Foods, Inc. (U.S.), Kellogg's (U.S.), Frito-Lay, Inc. (U.S.), JBS S.A. (Brazil), Mars, Inc. (U.S.), and Smithfield Food, Inc. (U.S.).
The report for Global Frozen Processed Food Market by Market Research Future covers extensive primary research. This is accompanied by a detailed analysis of qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance. The report gives a clear picture of the current market scenario, which includes the historical and forecasted market size, in terms of value and volume, technological advancement, macroeconomic, and governing factors of the market. The report provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.
|Market Size||199.24 Billion|
|CAGR||5.60% 2020-2027: CAGR|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type and Distribution Channel|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||General Mills, Inc. (U.S.), Kraft Foods Group, Inc. (U.S.), Nestlé SA (Switzerland), ConAgra Foods, Inc. (U.S.), Tyson Foods, Inc. (U.S.), Kellogg's (U.S.), Frito-Lay, Inc. (U.S.), JBS S.A. (Brazil), Mars, Inc. (U.S.), and Smithfield Food, Inc. (U.S.).|
|Key Market Opportunities||Increasing investments in the R&D sector|
|Key Market Drivers||