by Market Overview:
Frozen processed foods include dinner entrees, pasta meals, pizza, meat products and others. These foods can be stored and cooked later as per convenience. With busy lifestyles, working professionals prefer frozen processed foods due to their convenience of preparation.
Market key trends:
One of the key trends in the frozen processed food market is the rising demand for gluten-free and plant-based frozen foods. With growing health consciousness, consumers are shifting towards healthy diet and lifestyle. Also, rise in number of people suffering from celiac disease and gluten intolerance has boosted the demand for gluten-free frozen food products. Companies are innovating and launching variety of gluten-free frozen meals, snacks and desserts to cater to this growing market segment. Furthermore, growing vegan and vegetarian population has increased the demand for plant-based frozen food alternatives such as meat-free burger patties, nuggets, sausages and seafood products.
The frozen processed food market has been witnessing rising demand for convenient ready-to-eat meals and snacks due to busy lifestyles and growing preference for on-the-go consumption. The increasing demand for shelf-stable and long-life food products that can be easily stored and consumed later has promoted the growth of frozen processed food industry. Better refrigeration facilities coupled with improved freezing technology have enhanced the scope of frozen foods. Moreover, rising health awareness has led manufacturers to offer nutritious and low-calorie frozen food options.
SWOT Analysis:
Strength: Variety of products available for different meal occasions. Convenient frozen meals help save time for busy consumers.
Weakness: Heavy reliance on freezing facilities increases distribution and storage costs. Processing and preservatives used can impact nutritional value of foods.
Opportunity: Emerging markets offer large untapped growth potential. Innovation in plant-based and organic frozen foods present opportunities.
Threats: Strict food quality and safety regulations increase compliance costs for companies. Supply chain disruptions and high raw material prices pose threats.
Key Takeaways:
The Global Frozen Processed Food Market Demand is expected to witness high growth, exhibiting CAGR of 4.8% over the forecast period, due to increasing preference for convenient packaged meals and snacks. The Asia Pacific region dominated with over 35% share of the global market in 2023 led by countries such as China, India, and Japan. Rising disposable incomes and growth of modern retail formats are driving sales in the region.
Regional analysis:
North America is another major market for frozen processed foods driven by demand for gluten-free and vegan frozen products. Europe holds significant market share with Italy, Germany, and UK among the major consumers.
Key players:
Key players operating in the Frozen Processed Food Market are Nestle S.A., ConAgra Foods, Inc., Kraft Foods Group, Inc., Mother Dairy Fruit & Vegetable Pvt Ltd, BRF S.A., General Mills, Inc., Maple Leaf Foods Inc., Tyson Foods, Inc., and Unilever Plc.
Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
