DUBLIN, Sept. 15, 2020 /PRNewswire/ — The “Frozen Food Market Product (Fruits & Vegetables, Dairy, Meat & Seafood), Type (Raw Material, Half Cooked), Consumption, Distribution Channel, and Region (North America, Europe, Asia Pacific, South America, and MEA) – Global Forecast to 2025″ report has been added to ResearchAndMarkets.com’s offering.
The retail food industry has witnessed significant growth over the past few years, globally. The development of retail channels in the form of supermarkets, hypermarkets, and convenience stores has driven the growth of the frozen food market. These large food chains form an important growing outlet for frozen food products, owing to the latest trend of on-the-go consumption. Rising per capita income and the increasing number of working women globally have further accelerated market growth.
Based on the product, the convenience food & ready meals segment is estimated to account for the largest share in the frozen food market in 2020. This is due to the increasing consumer preference toward convenience foods, which indirectly favors the increasing demand for frozen products. The processed food market is driven by the greater need for convenience due to the busy lifestyles of consumers. This, in turn, increases the demand for frozen products. Increasing disposable income is also one such factor that has a huge influence on the growth of the frozen food market, as it increases the buying power of the consumers.
Based on type, the ready-to-eat segment is projected to be the fastest-growing during the forecast period. Ready-to-eat frozen foods are those products that are fully cooked and can be eaten directly. For instance, ice cream and frozen yogurt are some of the products that have been included in this segment. Ready-to-eat frozen foods are majorly used in dessert applications, as they are easy to consume. The ice cream segment of this market has been extremely dominant and has been growing steadily due to the increasing adoption of low-calorie ice creams. Frozen yogurt is also increasing the growth of this segment in the frozen food market, as it is considered a healthy dessert.
Based on consumption, the food service segment is estimated to account for the largest share in the frozen food market in 2020. The food service industry includes restaurants, QSRs (quick service restaurants), pubs, hotels, and healthcare. Among these, QSRs dominate the foodservice industry in the frozen food market due to the high contribution of QSR chains such as McDonald’s, Starbucks, Subway, Burger King, Pizza Hut, KFC, and Dominoes, with their high number of outlets across the world. The food service industry uses frozen food items on a regular basis to save time in cooking; this reduces the time taken by the food item to reach the customers’ table. Frozen food has both quality and taste; hence, it fulfills customer expectations. The global food service industry is growing at a fast pace due to the high demand for fast food and growth in food delivery channels.
Based on the distribution channel, the online segment is projected to be the fastest-growing during the forecast period. The online market for frozen food is expected to showcase significant growth in the coming years due to the increasing use of internet services in developing countries. Also, online shopping is more feasible and convenient as compared to offline shopping services. Consumers can get their products delivered at their doorsteps. Increasing preference for online shopping among consumers for food items and the availability of various payment options are factors that are expected to drive the market growth.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Frozen Food Market, by Product
7 Frozen Food Market, by Type
8 Frozen Food Market, by Consumption
9 Frozen Food Market, by Distribution Channel
10 Frozen Food Market, by Region
11 Competitive Landscape
12 Company Evaluation Matrix and Profiles
13 Adjacent and Related Market
- Aryzta AG
- Associated British Foods plc
- Bubba Foods
- Chevon Agrotech Private Limited
- Conagra Brands, Inc.
- Europastry S.A
- General Mills Inc.
- Grupo Bimbo S.A.B. De C.V.
- Kellogg Company
- Lantmannen Unibake International
- M/S India Frozen Foods
- Mccain Foods Limited
- Nestle SA
- Omar International Pvt Ltd
- Oob Organic
- Shishi He Deming Seafood Co Ltd
- Smart Price Sales & Marketing Inc.
- The Kraft Heinz Company
- Vandemoortele Nv
For more information about this report visit https://www.researchandmarkets.com/r/iv0tmx
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