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Frozen food market forecast to 2023 published by leading research firm

Frozen food market forecast to 2023 published by leading research firm

Among regions, the European region dominated the global frozen food market followed by North America. In Asia-Pacific, economic developments along with increasing urbanization and rising disposable income are some factors driving the frozen food market. Asia-Pacific is expected to witness the highest growth in the coming years.

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Frozen foods are foods stored beneath zero degree temperature for maintaining their moisture content at a solidified state. This helps frozen food to be preserved for longer time than fresh food.

One of the factors that are contributing towards the expansion of frozen foods around the world is the shift in consumer lifestyle which is influencing consumers towards ready to eat food products on account of saving cooking time. Freezing or refrigeration provides consumers with access to seasonal foods and also refrigeration facilitates consumers to preserve their food products for future use.

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Vegetables and fruits are plucked from farms, frozen and transported across the globe. Growing number of working women globally, coupled with hectic routine is also expanding the worldwide demand of frozen food.

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The import of frozen chilled beef from Australia, which was earlier banned, is now allowed by Chinese government. The increase in frozen food trade is also expected to boost up the global frozen food market over the next several years.

Moreover, food outlets such as Pizza Hut, McDonalds, Burger King Corporation, and KFC have now started to stock frozen food products to supply surging fast food demand and ensure food availability for a longer period. Frozen food saves the time of cooking in addition; frozen food provides the customers an opportunity to enjoy any regional dish or any seasonal fruits, vegetables throughout the year.

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Based on various active packaging techniques used for the frozen food packaging, global frozen food market can be categorized as antimicrobials, edible films, oxygen scavengers, time temperature indicators and moisture control.

Some of the opportunities for global frozen food market include growth in freezer space and lower penetration in Asia-Pacific countries, and rising demand of frozen food prepared with organic ingredients.

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Some of the major competitors of global frozen food market include Nestlé SA, Sadia SA, Unilever PLC, Amy's Kitchen, Inc., Goya Foods, Inc., Iceland Foods Ltd, The Schwan Food Company, Maple Leaf Foods Inc., Kraft Food, Inc., H.J. Heinz Company, McCain Foods Limited, Nichirei Corporation.

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