Hectic lifestyle is the key factor which is expected to drive the frozen food market growth over the forecast period. Other prominent factors such as rise in the number of working women worldwide, intelligent product positioning by frozen food producers and new product launches that makes reliance on frozen foods, impact the frozen food market positively.
Availability of refrigeration media for industrial and commercial freezing is anticipated to drive the frozen food market globally. Provision of staple food in packets may have a positive impact on the market growth in coming years. The frozen food market is also expected to depend on quality of raw materials provided by suppliers over the forecast period. Outlets such as dominos, KFC, McDonalds, Pizza Hut and Burger king have started to keep inventory of frozen food to fulfil the demand of fast food in outlets.
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Avoidance of harmful preservatives, convenience and anytime availability of seasonal and regional food are the key factors which are anticipated to spur the frozen food market growth in near future. However, own brands/local brands, requirement of constant temperature and consumer’s perceptions of frozen food are the factors which may restraint the market growth. Growth in freezer space and lower penetration in developing countries offer the key opportunities to increase the market growth. The storage and processing techniques under penetrated market, high energy consumption and shift towards fresh food due to increasing concerns about health and nutrition is anticipated to challenge the market growth in coming years.
Technology is segmented in terms of frozen food packaging and freezing technology. Air-blast freezers, belt freezers, tunnel freezers and contact freezers are the types of freezing techniques. Different packaging techniques are also expected to account for the different level of market growth in coming years. The packaging techniques for frozen food include oxygen scavengers, antimicrobials, time temperature indicators, edible films and moisture control.
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Frozen fruits & vegetables, soup, ready meals, potatoes, fish, pizza and meat are the products of frozen food. Frozen ready meals are anticipated to grow fastest in coming years due to increasing popularity, convenience to prepare and high state of hygiene. Many players are indulged in to serve frozen fast food such as pasta, pizza, cheese and other nuggets which is expected to increase the frozen food market over the forecast period. Frozen meat products are anticipated to follow the frozen ready meals growth over the forecast period. Frozen fruits are used to prepare confectionary products, dairy products and jam. Rise in demand of these products will cause the rise in the demand of frozen fruit products in coming years and it is expected to augment the market growth.
North America has the largest market region for the frozen food market. U.S is holding the largest market share of frozen food market due to hectic lifestyle of population and fast adoption of the products in the region. European countries such as Germany, Denmark, Spain, U.K., Italy, Switzerland, Norway and France are expected to witness the potential growth in frozen food market. Asian countries such as India and China are expected to have the fastest growing frozen food market due to increasing growing disposable income and increasing urban population in these countries are expected to account as a preference of consumer for eating fast food in coming years.
Unilever PLC, Tyson Foods, Inc., The Schwan Food Company, Stabburet, Simplot Food Group, Seneca Foods Corporation, Sadia SA, Rich Products Corporation, Ralcorp Frozen Bakery Products Inc., Pinnacle Foods Group LIC., Pinguinlutosa, Northern Foods PLC, Nichirei Corporation, Nestlé SA, Nature’s Peak LIC, Mccain Foods Ltd., Kraft Food Inc., Iceland Foods Ltd, H.J. Heinz Company, Goya Foods Inc., General Mills Inc., Findus Group, Conagra Foods Inc., Bonduelle SCA, Bellisio Foods Inc., Arena Agroindustrie Alimentari SPA, Ardo N.V., Amy’s Kitchen Inc. and Ajinomoto Co.are the key players in frozen food market.
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