Report Says Ongoing Demand for Convenience Driving Frozen Food Market Growth in Europe
Frozen food sales in Europe are expected to expand at a compound annual growth rate of almost 4% during the next four years, according to Technavio, a London-based market research company. Its recently published study on the subject concluded that the value would reach EUR 62.57 billion by 2021, up EUR 10.77 over current annual sales of EUR 51.80 billion.
Among major factors contributing to greater frozen food consumption in Europe are rising demand for convenience foods, increased shelf life of products, and innovative packaging techniques.
Sales of ready-to-eat convenience foods continue to increase due to changes in eating habits and busy schedules of consumers. Products such as meal kits, soups and ready-to-eat meal boxes have increased the convenience factor of frozen foods.
“Most frozen foods are cooked, chopped, or shallow-fried for easy consumption. Frozen fish and seafood are processed, cleaned and deveined. Hence they can be used in the preparation of dishes directly. Vendors like Nomad Foods, which has a large share of the European market, are focusing on making frozen products with minimal processing,” said Manjunath Jaganathan, a food research analyst at Technavio.
Frozen food producers are utilizing reusable zip pouches and other packaging options that allow for easier consumption and storage. Products are being packed in microwaveable bowls and heat-resistant trays, which further enhances the convenience factor.
Among top suppliers listed in the report are Dr. Oetker, FRoSTA, McCain Foods, Nomad Foods and Nestlé. More information is available by visiting www.technavio.com.