Leading
manufacturers in the global
frozen processed food market are shifting their focus from
processed to organic foods in order to align with the changing
consumer perceptions of health, finds Transparency Market Research
(TMR) in a new report. To do this, they are continuously striving to
develop innovative products that satisfy the needs of consumers
opting for high protein, gluten-free diet, with simple ingredients.
The
key players in the market are Stouffer’s, McCain, Schneider, and
DiGiorno. These four players collectively accounted for 27.6% of the
global frozen processed food market in 2014. Overall, the new few
years will see companies concentrating on preservative-free food and
products with no synthetic flavors, TMR predicts.
Companies
Profit from Perception About Frozen Foods Being Nearly as Healthy as
Fresh Products
Frozen
food products are considered nearly as healthy as compared to fresh
food items by many consumers, which is driving their demand. Another
factor driving their demand is the efforts by manufacturers in terms
of product innovation. Keeping in mind the changing consumer
preference, manufacturers have started developing frozen processed
food that are low in calories, fats, and cholesterol. This has
widened the reach of frozen processed food to include the health
conscious population base, as they are encouraged and attracted
towards healthy food with low calories, fats, and cholesterol.
The
demand for frozen processed food is also high owing to the
convenience it offers. With increasingly busy lifestyle and rising
number of working women, there is a need for easy-to-cook convenience
food, which is driving the demand for frozen processed food.
Interpret
a Competitive outlook Analysis Report with free PDF
Brochure:http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=392
Rising
Incidences of Meat Adulteration Restrict Demand for Frozen Processed
Food
Recent
meat adulteration cases and the Europe horse meat scandal in 2013,
where 100% horse meat was found in products being sold as beef meat,
have resulted in major setbacks for the global frozen processed food
market. A high percentage of people across the globe suffer from
obesity, thus opting for homemade food, and refraining from consuming
frozen processed meat, fish, and poultry. Another factor challenging
the growth of the market is the competition with chilled processed
food.
Lack
of Industry Rivalry Provides Opportunities of Growth in Market
There
are a very limited number of players in many countries that offer
refrigerated sausages and hot dogs. For instance, Venky’s Limited
is the leader in hot dogs and sausages in India, accounting for 60%
of the market. The presence of limited players in specific regions
across the globe gives ample opportunity of growth to manufacturers.
Another emerging trend is the growth of the retail sector in
developing nations, which has increased the sale of frozen processed
food.
Rest
of the World to Lead in Global Frozen Processed Food Market
By
geography, North America led the frozen processed food market in
2014, representing a share of 38.2% in the global market. Rising
consumer demand for frozen processed food as opposed to their canned
alternatives was the major reason driving the growth of the region in
the market. Asia Pacific followed North America and accounted for
30.4% of the market in 2014.
In
terms of volume however, the growth in the Rest of the World was
highest, accounting for 55.2% of the global frozen processed food
market. “The Rest of the World is expected to lead in the market in
the future and is anticipated to account for 84.1% of the global
market by 2021”, predicts a TMR analyst.
By
product, the frozen processed poultry segment led the market in terms
of revenue, by accounting for 15.58% of the global frozen processed
food market in 2014. In terms of volume, the red meat segment
accounted for 17.5% of the market in 2014.
According
to the report, the global market opportunity in frozen processed food
will rise from US$57.5 bn in 2014 will reach US$69.1 bn by 2021,
expanding at a 2.7% CAGR between 2015 and 2021. In terms of volume,
the consumption of frozen processed food is expected to rise from
245,980.4 thousand tons in 2014 to 384,881.1 thousand tons by 2021,
expanding at a 6.35% CAGR from 2015 to 2021.
This
information is based on the findings of a report published by
Transparency Market Research titled “Frozen Processed Food Market -
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast
2015 - 2021.”
The
global frozen processed food market is segmented as follows:
Product
- Frozen Bakery Products
- Frozen Desserts
- Frozen Meat Substitutes
- Frozen Processed Fish/Sea Food
- Frozen Processed Poultry
- Frozen Processed Red Meat
- Others
Geography/
Country
North
America
- The U.S.
- Canada
- Mexico
Europe
- Germany
- U.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
No comments:
Post a Comment