HYDERABAD, TELANGANA, INDIA, Nov 21, 2022 /EINPresswire.com/ — Product Description:
The global frozen food market size was valued at USD 256.2 billion in 2021 and is estimated to reach USD 328.4 billion by 2027, with a recorded CAGR of 5% during the forecast period.
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Frozen foods are frozen foods that keep them from when they are prepared until they are eaten. In frozen foods, the manufacturing process consists of placing the food inside a laminated bag and subjecting the vacuum-packed product before sealing it. The types of frozen food are like plain chicken, bread, pizza, sausage, French fries, ice cream, bread, fish sticks, sweet corn, and desserts.
The increasing use of frozen food products such as Pizza Hut, KFC, McDonald’s and Subway are the factors driving the revenue of the market. The growing demand for prepared foods is the key factor driving the growth of the market. The increasing employment rate of women drives the growth of the market.
Growing demand for prepared foods
The increasing demand for convenience food products such as ready meals, bakery products, beverages and confectionery drives the growth of the market. Convenience foods save time and energy and can be broken down into frozen meals and ready-to-eat snacks. The development of new convenience food categories such as powdered soups, cereal-based breakfast options, and various types of pudding to fuel market growth.
The growing preference for fresh and natural food products is the key factor hindering the growth of the market. There is a lack of awareness among consumers about the fact that it is the main factor holding back the growth of the market.
Frozen Food Market – By Product:
• Fruits vegetables
• Dairy products
• Fast food and prepared meals
• Meats and Seafood
Product-Based: The fast food and convenience food segment recorded the largest market share in the frozen food market in 2022 and is projected to grow significantly during the forecast period. Convenience food is a food that is commercially prepared to optimize ease of consumption, it is ready to eat without any preparation. Ready meals are high in energy, micronutrients, saturated fat and sodium and are therefore extremely important in the frozen food market.
Frozen Food Market – By Type:
• Raw material
• Ready to eat
• Half cooked
• Food service
• Retail sale
By Type: Ready to eat had the largest share of the frozen food market in 2022 and is projected to grow significantly during the forecast period. The ready-to-eat product is prepared or cooked in advance with no further cooking or preparation required before it is eaten. Ready-to-eat products are vegetable pulao, mixed vegetable curry, sambar rice and chana masala to fuel the growth of the market.
Frozen Food Market – By Distribution Channel:
• Out of line
According to the distribution channel: The offline segment had the largest market share in the frozen food market in 2022 and is anticipated to grow significantly during the forecast period. The offline segment has supermarkets/hypermarkets, convenience stores, grocery stores, local stores, and others to fuel the growth of the market.
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Europe is the fastest growing region in the frozen food market and it is expected to grow significantly during the forecast period. Europe has high availability in countries like Germany, France, UK, Italy, Spain and the rest of Europe. The reason for this dominance of the region is the growth and popularity of the frozen food market and increasing rapid urbanization, and this is likely to drive growth in the region’s market by increasing major factors such as economic stability, change in food preferences and demand. of ready-to-eat breakfast products to fuel market growth in the region. Germany is the largest market supporting the growth of frozen foods. There has been rapid growth in the frozen food market in the region, which has led to the growth of the global market.
North America is excepted as it is growing lucratively in the frozen food market.
Latest industry development:
• In April 2021: Frostkrone Food Group acquired Abergavenny Fine Foods Ltd., a market leader in the UK retail and foodservice sector. Abergavenny Fine Foods Ltd specializes in sandwich and snack combinations in the form of frozen products or as fresh products. Your range of products.
• In February 2022, Seara will launch Seara Shawaya, the first of its kind in the frozen food space at Gulfood 2022. The company with a presence in more than 150 countries is owned by JBS, the world leader in protein-based foods. .
• In June 2021, Pilgrim’s Pride Corporation acquired Kerry Consumer Foods’ Meats and Meals business in the UK and Ireland. The acquisition is expected to strengthen PPC’s portfolio by adding popular brands such as Richmond, Fridge Raiders and Denny’s to its family of brands.
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