Global frozen food commerce was valued at US $224.74 billion in 2012, and will register a CAGR of 3.9% between 2013 and 2019, according to a report entitled Frozen Food Market (Vegetables & Fruits, Potatoes, Ready-to-eat Meals, Meat, Fish/Seafood and Soups) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019.
Published by Albany, New York-based Transparency Market Research (TMR), the study attributes the rapid pace of growth to higher consumption of ready-to-prepare foods, the launch of new products, and robust demand from emerging economies – especially in the Asia-Pacific region. The report focuses on growth opportunities in the frozen food market, particularly for products made with organic and all-natural ingredients.
The ready meals market is seen as the dominant one, mainly because it comprises an extensive range of products such as pizza, snacks, desserts, entrees and other items. This segment constituted over 30% of the global frozen food value in 2012, according to TMR. Its CAGR is pegged at 3.9% between 2013 and 2019.
Another fast-emerging sector of the international frozen food industry is fruits and vegetables, as technology advances have enabled manufacturers to freeze perishable products without compromising texture as well as preserving nutritional value. This market is projected to show a CAGR of 4.3% from 2013-19. The frozen potatoes segment will also generate a CAGR of 4.3% during the same time frame, predicts TMR.
“Frozen foods are becoming an increasingly sought-after alternative to fresh, cooked, and canned food. The convenience offered by such food products also works in its favor,” according to the publisher. “This growing preference makes the frozen food market one of the most dynamic and significant ones in the global food industry.”
A sample of the report in PDF form may be obtained by visiting: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=152
