Transparency
Market Research has launched a new market report titled “Frozen
Food Market (Vegetables & Fruits, Potatoes, Ready-to-eat
Meals, Meat, Fish/Seafood and Soups) - Global Industry Analysis,
Size, Share, Growth, Trends and Forecast, 2013 – 2019,” according
to the which the demand for frozen food was valued at USD 224.74
billion in 2012 is expected to reach USD 293.75 billion by 2019,
growing at a CAGR of 3.9% from 2013 to 2019.
The
global market for frozen food witnessed growth due to the growing
demand for faster-to-prepare foods and new product launches in the
market. In addition, strong demand from emerging economies is another
factor contributing to the market growth. The government intervention
and regulations are major restraints for the market growth. However,
frozen food made with natural and organic ingredients provides huge
market opportunity for the manufactures.
The
global market for frozen food by products was dominated by frozen
ready meals due to its wide range of products which includes frozen
pizza, desserts, snacks, entrees and others and accounted for more
than 30% of the total market revenue in 2012 and expected to grow at
a CAGR of 3.9% from 2013 to 2019. The frozen fruits and vegetables
segment is experiencing a surge in demand due to advancements in
freezing technologies which allows the manufacturers to preserve the
nutritional value of the vegetables and fruits for a longer time
period. The market is expected to grow at a CAGR of 4.3% from 2013 to
2019. The frozen potatoes market is expected to witness the highest
growth rate in the future and is estimated to grow at a CAGR of 4.3%
from 2013 to 2019.
In
2012, Europe and North America had the largest share of 39.5% and
26.3% respectively in the global frozen food market. This dominance
is driven by increased preference towards convenience foods, food
safety concerns, and the busy lifestyle. Row is estimated to be the
fastest growing region over the next six years, due to emergence of
Brazil and Argentina as the new markets for frozen food. The RoW
market is expected to grow at a CAGR of 4.3% from 2013 to 2019. The
Asia Pacific market is estimated to be another attractive market for
frozen food because of the healthy growth rate and increasing
consumer preference towards frozen food.
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At
the country level, the U.S. was the largest market in 2012 and
accounted for more than 80% share in the frozen food market followed
by Japan and Germany. Brazil is the most attractive market for frozen
food due to availability of raw materials in abundance quantity which
makes frozen food products more accessible and affordable for
consumer. The Brazil market is expected to grow at a CAGR of 4.7%
from 2013 to 2019. Countries such as China, India, and Mexico offers
huge market opportunities for frozen food.
There
are several brands available in the market for frozen food; however,
very few have a significant market share. The market for frozen food
is highly fragmented as the top six companies have less than 20% of
the market share in 2012, along with the presence of a number of
small and medium sized participants. Key market participants include
Nestle, ConAgra, H.J. Heinz, McCain and others.
Frozen
Food Market: Product Analysis
- Frozen Fruits & Vegetables
- Frozen Potatoes
- Frozen Ready Meals
- Frozen Meat
- Frozen Fish/Seafood
- Frozen Soup
Frozen
Food Market: Regional Analysis
North
America
- U.S.
- Canada
- Mexico
Europe
- Germany
- UK
- France
Asia
Pacific
- Japan
- China
- India
RoW
- Brazil
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