Press Release: April 15, 2020
Frozen food is the food preservation process that preserves nutrients, flavors, and colors of the food. The primary purpose of frozen food is longer shelf life, simplify meal preparation, and others in the market. It is considered an important component of meals prepared and served in homes and restaurants. The different types of frozen food are fruits & vegetables, dairy products, bakery products, convenience food & ready meals, and others in the market.
The factor which is driving the market growth is increasing socioeconomic global frozen food market. Growing in the women workforce, which led to a change in lifestyle as it reduces cooking and preparation time which further boost the growth of the global frozen food market. Easy availability of the different types of frozen food and change in the consumption habits of consumers will increase the demand for frozen food during the forecast period. Moreover, growing consumer acceptance and rising demand for healthy food will further expected to propel the global frozen food market. Even, Manufacturers are adopting various strategies and technological innovations to reduce the loss of nutrients in frozen foods and minimize the use of harmful plastic packaging to meet the rising demand from consumers. However, high maintenance and logistics cost are the factors which will hinder the market of the global frozen food market.
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Europe region represents a high market growth for global frozen food and anticipated to grow at a significant growth rate due to improvement in living standards of people and consumer preference towards hygiene-related frozen food products in the market. Asia-Pacific and Rest of the world are projected to grow at a moderate rate due to increasing awareness regarding the benefits of frozen food and expansion in the fast-food outlets, which will boost the global frozen food market.
Various notable players operating in the market, General Mills Inc., Conagra Brands, Inc., Grupo Bimbo S.A.B. de C.V., Nestle SA, Unilever, Kellogg Company, McCain Foods Limited, Kraft Heinz Company, Associated British Foods plc, Ajinomoto, among others. For instance, Grupo Bimbo S.A.B. de C.V. added four frozen bakery lines to its Argentina plant to increase the business in neighboring countries.
The global frozen food market has been segmented on the basis of product type, freezing method, end users, and key geographies. Based on product type, the market is segmented into fruits & vegetables, dairy products, bakery products, convenience food & ready meals and others. Based on freezing method, the market is segmented into individual quick freezing, blast freezing, belt Freezing and others. Based on end users, the market is segmented into households, restaurants, and others.
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Key questions answered in this research report:
1- At what pace is global frozen food market growing? What will be the growth trend in the future?
2- What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
3- What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global frozen food market?
4- What are the various application areas and how they are poised to grow?
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