Global Frozen Processed Food Market to Expand at CAGR of 6.3% between 2015 and 2021

Transparency Market Research (TMR) has announced the addition of a new market study on the global frozen processed food market. The report analyzes the drivers and restraints of the frozen processed food market and the impact of these on the demand for frozen processed food during the forecast period from 2015 to 2021. The report studies the attractiveness of the frozen processed food market on the basis of factors such as growth rate and market size. According to the report, in terms of revenue, the frozen processed food market, which was valued at US$57.5 bn in 2014, is projected to reach US$69.1 bn by 2021, exhibiting a CAGR of 2.7% from 2015 to 2021.The report is titled “Frozen Processed Food Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021.” The report states that the global frozen processed food market was valued at 45,980.4 thousand tons in 2014 and will rise to 384,881.1 thousand tons by 2021, in terms of volume, expanding at a healthy CAGR of 6.3% between 2015 and 2021.

Frozen processed foods are food products that are preserved from the time they have been prepared till the time they are consumed. Food is preserved by freezing, as freezing the food slows down the decomposition process by turning moisture into ice, inhibiting the growth of most bacteria. Frozen processed food products include frozen sea food, frozen desserts, frozen bakery items, frozen poultry, frozen meat substitutes, and frozen red meat.

The global frozen processed food market is driven by the increasing disposable income of consumers, especially in nations such as the U.S, the U.K, China, the Philippines, and India. The growing inclination towards the consumption of convenience foods is one of the major drivers of the market. Furthermore, the growing trend of consuming foods that have low calorie and low fat content is expected to boost the global frozen processed food market in the coming years. Increasing health-consciousness among people will also help promote the market.

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One of the major challenges of the global frozen processed food market is the rising number of people suffering from obesity. The growing health awareness in the global populace will lead to an increasing number of obese people making prudent dietary choices, including not consuming frozen processed foods, thus restricting the growth of the market. The low price of chilled processed food in comparison to frozen processed food will also deter the market’s growth during the period from 2015 to 2021.

Geographically, the global frozen processed food market is segmented into North America, Asia Pacific, Europe, and Rest of the World. The largest share in the frozen processed food market was held by North America in 2014, followed by Asia Pacific. North America and Asia Pacific are expected to retain their dominance throughout the forecast period, expanding at a CAGR of 5.5% between 2015 and 2021.

Among the various product types of frozen processed food, the frozen poultry segment held the largest market share in terms of revenue, followed by frozen processed sea food, in 2014. The frozen processed red meat segment held the largest market share in terms of volume in 2014 and is expected to retain its position for the rest of the forecast period. Frozen processed poultry held the second largest market share in terms of volume.

The report profiles some of the leading players in the market such as: Nestle S.A., ConAgra Foods, Inc., Tyson Foods Inc., BRF S.A., Unilever plc, and General Mills.

The frozen processed food market has been segmented as:

Product Type

• Frozen Bakery Products
• Frozen Desserts
• Frozen Meat Substitutes
• Frozen Processed Fish/Sea Food
• Frozen Processed Poultry
• Frozen Processed Red Meat
• Others

Geography

North America

• The U.S.
• Canada
• Mexico

Europe

• Germany
• K.
• France
• Italy
• Spain
• Rest of Europe

Asia Pacific

• India
• China
• Rest of Asia Pacific

Rest of the World (RoW)

• Middle East
• Latin America
• Africa