The
global frozen processed food market is expected to witness a modest
growth in the coming year, according to Transparency Market Research
(TMR). The market vendors are focusing on aligning the development of
their product to cater to the new class of health-conscious
population. The market participants are also seen forming
collaborations with regional vendors with the primary aim of
percolating into local markets. Enterprises are also expected to
strategize towards gaining visibility, communication and a
relationship with retailers. Some of the leading vendors in the
global frozen processes food market are Bofrost, McCain, Stouffer’s,
and Zhengzhou Sanquan Food Co, Ltd.
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According
to the report, the global frozen processed food market is expected to
reach US$69.11 bn by 2021 from US$57.50 bn in 2014. During the
report’s forecast period of 2015 to 2021, the global market is
predicted to expand at a CAGR of 2.7% in terms of revenue. The demand
for frozen processed poultry food items is expected to be highest, as
the revenue of this segment is projected to reach US$9.91 bn by 2021.
North America will be the key regional segment in the overall market
and is expected to generate revenue worth US$23.60 bn by the end of
2021, exhibiting a CAGR of 0.9% from 2015 to 2021.
The
changing ways of life of the worldwide populace set apart busy
schedules are driving the demand of frozen handled food around the
world. With less time to cook detailed and nutritious suppers, an
undeniably high number of consumers are inclining towards easy meal
choices. This pattern is particularly having an articulated effect on
the incomes of the frozen processed food market in nations like the
U.S., China, and the Philippines.
Moreover,
expanding disposable incomes are additionally contributing toward the
development of this market. The report expresses that the rising
number of family units with fridges in creating nations will likewise
help fuel the interest for frozen
processed food in the forthcoming years.
Frozen
food gives a smart alternative to consumer having constrained cooking
ability and aptitude. They are precut, prewashed, and afterward
frozen, which makes them ready to use. It is effortlessly compact and
has longer timeframe of realistic usability. These are the key
factors responsible for the rising demand for frozen food in
developed countries such as the U.S. The product development and
selection of cutting edge strategies to enhance the quality frozen
and processed items, including chemicals, hydrocolloids, and
sourdough fermentation to the natural procedure are expected to rise
keeping in mind the end goal to increase positive development in the
worldwide industry.
The
changing perceptions of consumers about frozen prepared food products
from being just convenience products to being sound dietary
alternatives have provided and impetus to the demand for the global
frozen processed food market. The market is likewise profiting by
continuous product developments and the solid conveyance systems
built up by retail chains. Presentation of an extensive variety of
sound, characteristic, natural, and food things with less or no
additives and added substances is additionally boosting the frozen
processed food market to a great extent.
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