Frozen Processed Foods Market will be Worth US$69.11 bn by 2021

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. 

Frozen Processed Foods Market will be Worth US$69.11 bn by 2021

Investing in product innovation and manufacturing frozen processed food items that have no or minimal synthetic flavors and preservatives is a key strategy being adopted by leading players in the global frozen processed food market, reports Transparency Market Research in a new study. Furthermore, aligning product development to cater to the growing class of fitness-conscious consumers will also see companies introducing organic and healthy items in the market.

The leading players in global frozen processed food market are Stouffer’s, Bofrost, Zhengzhou Sanquan Food Co, Ltd., and McCain. “Collaborating with regional players to enhance product portfolio and reaching out a larger number of consumers are expected to be key strategies of players in the near future,” reports the lead author of this research report. Establishing integrated marketing communication strategies, improving point of visibility, and building a stronger relationship with retailers will also form the basis of successful businesses in the coming years.

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Innovation to Tangibly Augment Sales of Frozen Processed Foods

The changing consumer perceptions about frozen processed food items from being convenient solutions to being healthy dietary options have accelerated the demand for the global frozen processed food items. The market is also benefitting from ongoing product innovations and the strong distribution networks established by retail chains. Introduction of a wide range of healthy, natural, organic, and food items with less or no preservatives and additives is also boosting the demand frozen processed food items.

The lack of time to cook elaborate meals and increasing number of working women have also made a significant contribution to the revenues of the global frozen processed food. The report also indicates that the rising disposable incomes and increasing number of households that own refrigerators especially in the emerging economies of China and India are also expected to propel this market in the forecast period.

Food Adulteration Scandals, Low Awareness Levels Hurting Growth of Frozen Processed Food Market

Low levels of consumer awareness about the difference between chilled and frozen food items is restraining the growth of the global frozen processed food market. Furthermore, much-publicized cases of meat adulteration in the recent past have created a negative perception about frozen processed food amongst consumers. Additionally, the growing concerns pertaining to obesity and unhealthy lifestyles that are associated with the regular consumption of frozen processed food are also impeding sales and, consequently, revenue.

North America to Remain Frontrunner with 0.9% CAGR between 2015 and 2021

According to the research report, the opportunity in the global frozen processed food market is expected to reach US$69.11 bn by 2021 as against US$57.50 bn in 2014. During the report’s forecast period of 2015 to 2021, the global market is expected to rise 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.

This review is based on Transparency Market Research’s report, titled “Frozen Processed Food Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021.”

Key Takeaways:

• Global frozen processed food market to represent an opportunity worth US$69.11 bn by 2021
• North America to be the key regional segment with 0.9% CAGR between 2015 and 2021
• Demand for processed poultry food items to reach all-time high as the segment is expected to reach US$9.91 bn by 2021