Pune, India, June 15, 2021 (GLOBE NEWSWIRE) — The global frozen food market size is likely to reach USD 185.28 billion by 2027, registering a CAGR of 3.1% during the forecast period. Freezing food increases the convenience of its consumption as freezing slows down the decomposition process due to lack of moisture. Thus, freezing food increases its shelf life. Fortune Business Insights™ has presented this information in an upcoming report titled, “Frozen Food Market, 2020-2027″. The market size stood at USD 146.79 billion in 2019.
The market is expected to prosper in the forthcoming years due to several factors. For instance, consumer's inclination and fondness towards ready-to-eat (RTE) foods is constantly growing. This is further complemented by the growing working population and their busy lifestyles as preserved foods require less cooking time and effort.
Top 10 Players Profiled in the Global Frozen Food Market are:
- Nestle SA (Vevey, Switzerland)
- Conagra Brands Inc. (Illinois, U.S.)
- General Mills Inc. (Minnesota, U.S.)
- The Kellogg Company (Michigan, U.S.)
- Grupo Bimbo S.A.B DE C.V. (Mexico City, Mexico)
- Lantmannen Unibake International (Copenhagen, Denmark)
- McCain Foods Limited (Toronto, Canada)
- The Kraft Heinz Company (Illinois, U.S.)
- Unilever PLC (London, U.K.)
- Wawona Frozen Foods (California, U.S.)
- Tyson Foods Inc. (Arizona, U.S.)
Get a Sample PDF Brochure (With Impact of COVID-19 Analysis):
The growth of several markets and industries has stagnated due to the global pandemic. During the initial days of lockdowns, panic buying amongst consumers led to a surge in demand due to the longer shelf life of frozen and preserved foods. However, the lockdowns, social distancing norms, and curfews resulted in a reduced workforce in manufacturing plants, ultimately plummeting the market's growth. Almost a year since the pandemic arrived, the market is gradually gaining traction as lockdowns are being uplifted across several nations. The market is expected to flourish in the coming years once the economies return to their pre-pandemic levels.
Based on type, the market fragments into frozen seafood, frozen ready meals, frozen meat products, frozen bakery products, frozen vegetables and fruits, frozen potato products, frozen pizza, etc. Based on the distribution channel, the market segments into online retail, convenience stores, supermarkets/hypermarkets, and specialty stores. Geographically, the market is categorized into North America, Europe, …
Full story available on Benzinga.com