LONDON–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/ConsumerStaples?src=hash” target=”_blank”gt;#ConsumerStapleslt;/agt;–The global frozen food market is expected to post a CAGR close to 5%
during the period 2019-2023, according to the latest market research
report by Technavio.
The demand for vegan frozen foods in countries such as the UK and the US
has increased. This is further complemented by the growing preference
for meat alternatives among the consumers in these countries. This new
consumer inclination toward such food products has encouraged vendors to
increase their range of frozen vegan product offerings. Currently,
several vendors have launched a range of frozen vegan products across
supermarkets. The new product lines include vegan frozen burgers,
fillets, vegetable balls, tofu, and wheat-based protein products, which
are presumed to be healthy alternatives to meat-based frozen foods.
As per Technavio, technological innovations will have a positive impact
on the global frozen food market and contribute to its growth
significantly over the forecast period. This global
frozen food market 2019-2023 research report also
analyzes other significant trends and market drivers that will affect
market growth over 2019-2023.
Global frozen food market: Technological
Vendors offering frozen food use various strategies to achieve a
competitive edge in the global market. They are trying to improve the
quality and shelf life of frozen foods with certain technological
innovations. Innovative pouch packaging is one such method used by
vendors to avoid the loss of nutrients in frozen foods. In July 2018,
Grass Run Farms launched its new frozen meat patties in resealable
pouches and multi-use recyclable carton packages. The company also uses
individually quick frozen (IQF) technology, through which superior food
products can be produced. The unique packaging solution offered by the
company allows consumers to take the frozen food from the refrigerator
and place it directly in the microwave oven. The availability of such
innovative packaging solutions may encourage more vendors to offer
innovative packaging, thereby reducing the use of plastic packaging.
“Apart from the technological innovations, the expansion of retail
stores offering frozen food, new product launches, increase in M&As, and
the growing popularity of private label frozen foods are some major
aspects that are expected to boost the overall growth of the global
market,” says a senior analyst at Technavio.
Global frozen food market: Segmentation analysis
This market research report segments the global frozen food market by
product (frozen ready meals, frozen meat and poultry, frozen fish and
seafood, frozen fruits and vegetables, frozen potato products and frozen
soups) and geographical regions (Europe, North America, APAC, South
America, and MEA).
The European region led the market in 2018, followed by North America,
APAC, South America, and MEA respectively. However, during the forecast
period, the APAC region is expected to register the highest incremental
growth due to the increasing availability of frozen foods through retail
outlets in the region
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Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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