Global Frozen Food Market by Product Type (Frozen Ready Meals, Frozen Meat & Poultry, Frozen Sea Food, Frozen Potatoes, Frozen Vegetables & Fruits, Frozen Soups), User,Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025.
The global frozen food market is expected to grow from USD 199.6 Billion in 2017 to USD 320.4 Billion by 2025 at a CAGR of 6.1% during the forecast period from 2018-2025. Increasing customer craving and growing awareness about frozen food is a prime factor for the growth of the market. Along with this,rising demand and consumption of frozen foods in the developing markets and increasing number of selling points in the form of large retail chains including hypermarkets and supermarkets are the two factors that have augmented the demand of frozen food.
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Thefrozen ready meals segment dominated the market with the highest share of 32.20% in 2017
The product type segment is classified into frozen ready meals, frozen meat & poultry, frozen sea food, frozen potatoes, frozen vegetables & fruits and frozen soups. The frozen ready meals segment dominated the market in 2017. The changing lifestyles of people has augmented the consumption of frozen foods as they are easy to prepare and take less time for preparation. They are healthy and have high nutritional value.
Business customerssegment valued around USD 126.14 Million in 2017
The user segment is segmented intobusiness customers and retail customers. Business customers segment dominated the market with the highest share in 2017. Business customers consists of hotel chains, fast-food outlets, caterers, and other business buyers.Various frozen food are frozen meat, sea food, frozen pizza crust, bread, frozen dough, potatoes, and vegetables which are the key constituents for preparing food for end customers.
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Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. The Europe region is dominating the market with the highest market share of 43.20% in 2017 because of changing lifestyle and busy schedule of people have led to high consumption of processed and convenience food products. Therefore, leading to increase in demand for ready meals and seafood in the region
The major players ofmarketinclude Aryzta, General Mills, Kraft Foods, Ajinomoto, Cargill Incorporated, Europastry, JBS S.A., Kelloggs, Nestle and Flower FoodsFor instance, in November 2018, Luvo Inc. launched the next generation of frozen foods with a focus on performance nutrition.
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