Industry Background:
Frozen food products contain maximum vitamins as compares to the fresh ones, due to freezing which makes preserves the products for longer periods of time. Various benefits of frozen foods such as reducing food waste, make your food last longer, preserve nutrition at peak ripeness and other benefits. Increasing preference of young consumers for convenient eating and raising awareness of frozen food products are some of the major drivers which affect the growth of the market in the future.
According to AMA Research, the market for ?Frozen Food is expected to register a CAGR of 4.6% during the forecast period to 2028. This growth is primarily driven by Rising demand for convenience food and technology advancement in the cold chain
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | k Tons |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Food Products sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as General Mills Inc. (United States), Conagra Brands, Inc. (United States), Grupo Bimbo S.A.B. de C.V. (Mexico), Nestle SA (Switzerland), Unilever (the Netherlands), Kellogg Company (United States), McCain Foods Limited (Canada), Kraft Heinz Company (United States), Associated British Foods plc (United Kingdom) and Ajinomoto (Japan), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In October 2018, the Conagra Brands, Inc. (United States) Company has acquired Pinnacle Foods Inc. (United States) Company, which helped Pinnacle foods to widen its frozen meals & snacks as well as sweet treats categories. Hence, it will help to enhance the growth of the revenue of the company in the future. and In June 2018, the Lantmännen Unibake A/S (Denmark) Company has opened a production plant in Poland, so that to increase its production capabilities. Hence, this expansion has helped the company to expand its product portfolio of the company
In May 2018, the Nestlé S.A (Switzerland) Company has launched meat-free brand Garden Gourmet in the United Kingdom. It provides healthy meat-free products and it will affect the growth of the market in the future. and In November 2018, the Nestlé S.A (Switzerland) company has launched Wildspace, which is a range of healthy frozen meals in reusable as well as recyclable containers. Therefore, this product launched enabled the company to strengthen the product portfolio.Frozen Food market companies operating in these industries are focusing more on efficient growth, improvement of operational efficiency and productivity, achieving high safety standards, and focusing on maintaining sustainable development. The market is highly competitive with a few players occupying the major share. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launches, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Influencing Trend:
One of the Latest Trend of this Market is the Availability of Refrigeration Media for Industrial as Well as Commercial Freezing
Market Growth Drivers:
Rising demand for convenience food and technology advancement in the cold chain and Increasing Acceptance of Western Cuisine and Food Habits across the World
Challenges:
Shortage of Fresh Meat Due to Rising Consumption in Middle East & Africa
Restraints:
Rising Preference for Fresh as Well as Natural Food Product
Opportunities:
Growing Processed Industry and Rapidly Increasing Youth Population and Rising Online Purchase of Staple Food is Gaining Popularity across Developed Nations such as the United States, United Kingdom, among others
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of ?Frozen Food Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of ?Frozen Food Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of ?Frozen Food players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, ?Frozen Food Study Sheds Light on
The ?Frozen Food Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the ?Frozen Food industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where ?Frozen Food industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.