Frozen Food Market Set for Stable Growth of 5.10%, Projected to Reach USD 442.02 Billion by 2023 | UnivDatos Market Insights
- Vikas Kumar
- November 14, 2023
- CONSUMER GOODS, NEWS
- Frozen Food Market Analysis, Frozen Food Market Forecast, Frozen Food Market Growth, Frozen Food Market Outlook, Frozen Food Market Share, Frozen Food Market Size, Frozen Food Market Trends
- 0 Comments
According to a new report by Univdatos Market Insights, the Global Frozen Food Market is expected to reach USD 442.02 billion in 2032, growing at a CAGR of 5.10%. The frozen food market has been quite progressive over the years and was fueled by factors such as busy consumer schedules, increased disposable income, and progression in freezing methods. Other factors, including the shift in consumer habits and dietary patterns, particularly the new trend towards convenience food products and plant-based foods, are also driving the market. In addition to these factors, the advance in e-commerce platforms and the improvement of the cold chain system around the world are also positively affecting the market conditions.
Access sample report (including graphs, charts, and figures): https://univdatos.com/get-a-free-sample-form-php/?product_id=6494
Demand:
The burgeoning adoption of frozen food specially in North America and Asia Pacific due to several factors. The fast-paced life and busy hectic schedule especially in developed and developing regions, where people work for long working hours or stays in urban areas, or probably single or nuclear families contributes to the need for convenient meals and products. Moreover, the drastic shift of consumers towards healthier and nutritional foods, such as frozen fruits, vegetables and organic food has further propelled the demand for frozen food globally. One of the significant advantages of frozen products over normal products is the long lifespan and low-cost. Frozen foods can be a perfect solution for nuclear families and bachelors who want to minimize the wastage and remain pocket friendly for them. At the same time, with the help of frozen products consumers have access to certain types of foods throughout the year.
Increased awareness regarding food safety, the nutritional benefits of frozen over canned products, and the growing availability of plant-based frozen foods are additional factors supporting this growth. The COVID-19 pandemic also accelerated the trend, with more consumers opting for frozen products due to their longer shelf life and reduced need for frequent grocery runs.
In 2023, FRoSTA AG is one of Europe’s leading manufacturers of innovative, nutritious, and premium quality frozen foods that entered the German retail market the plant-based fish fingers.
In January 2024, another important player in the UK market, Birds Eye, determined in its continuous development of the Green Cuisine line of frozen plant-based meals in line with the growing tendency to healthier and plant-based diets.
Applications:
Frozen foods are versatile products used in different ways in both food retailing and food service industries. Retail consumption comprises of the individual households buying frozen ready meals, fruits, vegetables, dairy products, meat and seafood among others. Restaurants and the fast-food industry have started to incorporate the use of frozen products in the menu as a means to uphold food quality, reduce wastage and ease operations within the kitchen. For instance, in 2022, Quorn, one of the biggest vegetarian and vegan food producers in the UK, partnered with KFC to launch a meatless product line in 2022. This included plans for KFC to order Quorn’s mycoprotein-based chicken across venues in Europe with several delicious new veggie products being trialed in the Netherlands and Germany.
Frozen ready meals have been widely consumed in North America and Europe which are the regions where people have adopted convenience food. Frozen seafood and meat also remain popular in regions such as Asia-Pacific, which holds a bias towards protein-rich meals.
Technological Advancements:
Technological advancements are crucial to the growth of the frozen food industry. Technological developments such as cryogenic freezing and Individual Quick Freezing (IQF) enhance the quality of the products by allowing the retention of tastes, tenderness, and nutritional value. For instance, in 2022 JD Logistics public report, the company released its JDL-tailored solutions based on its cold chain system, using its comprehensive advantages in transportation, storage, packaging, technology, and other sectors. This has increased the distribution of frozen products, to enhance quality and freshness of the products over long distances. Additionally, incorporating smart technologies for data collection and analysis, as seen in systems like JBT’s OmniBlu platform, enables manufacturers to optimize their operations, reduce downtime, and make informed decisions for continuous improvement. Technological advancements in the packaging process are also being used in a bid to try and make them more sustainable and have longer shelf life.
Click here to view the Report Description & TOC https://univdatos.com/report/frozen-food-market/
Conclusion:
As for the future outlook, the frozen food market is projected to remain on an upward trajectory over the long term, with demand being bolstered from both retail and foodservice consumption. To adapt to these changes, companies need to consider product differentiation, with more specific reference to better, organic, and plant-based frozen products. Better handling of frozen foods through online platforms and improvements to the cold supply chain networks will play an important role in addressing growing market needs of frozen foods especially in developing places.
Related Posts
