In 2019, the global frozen food market size is estimated to be valued at US$ 239.1 Bn primarily driven by improved packaging design, quality, and new varieties of frozen food products. In addition, the frozen food market is expected to register significant growth rate in developing countries such as India, China, and Brazil, due to growing demand for convenience food products, increasing consumer spending on food products, and growing urbanisation in these countries.
Global Frozen Foods Market Regional Analysis Market:
In 2019, Europe frozen food market currently dominates the global market with 34.8% revenue share followed by market in North America with 26.5%. This is primarily due to growing demand for frozen vegetables and ready-to-eat meals in the region. In addition, changing preference to vegan-based diets is another factor that is expected to drive the growth of the market in the aforementioned countries in the near future. In Europe, the market in Germany accounted for the largest revenue share of above 22% and there are over 16,500 frozen food products currently available in the country.
The frozen food market in Asia Pacific and South America are expected to register significant growth during the forecast period, due to rapid improvements in the cold chain infrastructure, introduction of new products, and growing consumer preference for convenience food. In Asia Pacific, India has the largest cold chain warehouse at 150 Mn cubic meters followed by China at 105 Mn cubic meters. This pose a lucrative opportunity for key local and regional players in the market.
Global Frozen Foods Biofuels Market Size and Forecast: Competition Landscape
Nestlé S.A. and Congra Brands, Inc. collectively dominates the global frozen food market in 2019 and focus on introducing new plant-based or vegan-based products to target a set of consumers. In addition, these key players focus on improving its operations and inventory management through new models
- In March 2019, Congra Brands, Inc., through its brand Birds Eye, announced plans to launch new vegan product under its ‘Green Cuisine’ line
- In May 2019, Nestlé S.A. announced plans to abandon direct-store delivery of frozen pizza and ice cream in the US and switch to the network of warehouses it already uses for frozen meals and snacks in order to improve operations and cut costs
Top 10 frozen food market companies, 2019:
- Nestlé S.A.
- Conagra Brands, Inc.
- General Mills Inc.
- Grupo Bimbo S.A.B. De C.V.
- Kellogg Company
- Mccain Foods Limited
- The Kraft Heinz Company
- Associated British Foods Plc
By Product Type:
- Fruits and Vegetables
- Bakery Products
- Dairy Products
- Meat & Seafood Products
- Convenience Food and Ready Meals
By Distribution Channel:
- Food Service
- Retail Stores
- Speciality Stores
What Will You Discover in the Report?
- An in-depth analysis of the frozen food market across regions – North America, Latin America, Western Europe, Central and Eastern Europe, Asia Pacific, Middle East, and Africa.
- How the frozen food market revenue is expected to grow throughout the forecast period.
- How geopolitical policies and technological changes will affect the frozen food market in near future
- Which current and upcoming technologies will shape up the frozen food market?
- Where the stakeholders should invest to generate higher profit margins
- How consumers (end-users) will reflect to the frozen food industry during the forecast period
- Who are the frozen food industry leaders and what are the key initiatives taken by them for long term growth?
- Industry exclusive use cases
Who will benefit from the Report?
- Frozen Food Manufacturers
- Distributors and Suppliers
- Raw Material Providers
- Consultants and Analysts
Analyst access with Bekryl Market Analysts
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