Market Research Future projects the global frozen processed food industry to exhibit a CAGR of more than 5% over the forecast period from 2017 to 2023, according to a new report. The report looks at the historical trajectory exhibited by the global frozen processed food market and studies the market’s key drivers and restraints to understand the market’s progress and elaborate on it in detail. Reliable insights are provided into the global frozen processed food market’s growth prospects over the forecast period on the basis of the detailed analysis of the market’s past and present drivers.
The frozen processed food industry has been driven primarily by the growing demand for packaged, ready-to-eat food from the urban demographic. Freezing food protects it from atmospheric germs most effectively, as most germs that thrive on perishable food items require warm temperatures to function. Frozen processed food market is stored and processed at a temperature of -6 deg. F (-21.1 deg. C), which eliminates the threat of microbial activity and makes the food safe to eat. Storing the food at such low temperatures also takes away the risk of nutrient loss during the processing, as the nutrients are reactivated when the product is thawed before consumption. Such all-round benefits of the freezing process have led to strong growth prospects for the global frozen processed food market over the forecast period from 2017 to 2023.
The growing demand for frozen bakery items such as croissants, rolls, puffs, and cupcakes is likely to be a major aspect of the global frozen processed food market’s growth over the forecast period. The growing demand for comfort food from the urban demographic has led to a rise in the demand for sugar-rich bakery items. While the popularity of the aforementioned bakery items has never been in question, the invention of the freezing process now allows consumers to have the products at any time, rather than having to wait for bakeries to open in the day. Rising consumption of such ready-to-eat bakery products is likely to remain a major driver for the global frozen processed food market over the forecast period.
Leading players in the global frozen processed food market include General Mills Inc., Nestle SA, Tyson Foods Inc., Frito-Lay Inc., Mars Inc., Smithfield Food Inc., JBS S.A., Kellogg’s, ConAgra Foods Inc., and Kraft Foods Group Inc.
The global frozen processed food market is segmented by product type, distribution channel, and region.
By product type, the global frozen processed food market is segmented into frozen fruits and vegetables, frozen bakery products, frozen meat and seafood, frozen dairy products and desserts, and others. The frozen meat and seafood segment is likely to dominate the global frozen processed food market analysis over the forecast period due to the growing popularity of meat products in developed regions and the rising preference for ready-to-cook meat products in emerging regions, where the hectic urban lifestyle has led to an increasing number of consumers looking for meal options that can be prepared with minimum prep time.
By distribution channel, the global frozen processed food market is segmented into store-based and non-store-based. Due to the need for modern refrigeration processes in selling frozen processed food products, the store-based distribution segment is likely to dominate the global frozen processed food market over the forecast period.
North America is likely to dominate the global frozen processed food market over the forecast period due to the growing demand for frozen bakery products and meat products. The growing need among the urban demographic for ready-to-prepare meals is likely to drive the demand for frozen meat and seafood products at a rapid rate, thus driving the frozen processed food market in North America over the forecast period. Asia Pacific is also likely to exhibit a rapid rise in demand from the frozen processed food market over the forecast period due to the increasing adoption of hectic urban lifestyles in the region.
In August 2019, Farmwise, makers of healthy frozen processed food, expanded into the starters category with the inclusion of mozzarella bites and potato skins.
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