The global frozen processed food market was valued at US$ 60.12 billion in 2016 and is expected to reach US$ 85.49 billion by 2025, witnessing a CAGR of 4.01% over the forecast period (2017 – 2025), according to Frozen Processed Food Market Report, by Product Type (Frozen Bakery Products, Frozen Desserts, Frozen Processed Meat Substitutes, Frozen Processed Fish/Sea Food, Frozen Processed Poultry, Frozen Processed Meat, Frozen Processed Pizza, Frozen Processed Noodles, Frozen Processed Vegetables, and Frozen Processed Potatoes) published by Coherent Market Insights. The frozen processed food involves a series of chemical or mechanical operations to preserve the quality and enhance nutrients and freshness. Frozen processed food require less time to cook, which increases its demand among the consumers with busy schedule, which is one of the major driver fueling the growth of this market. However, lack of information regarding frozen processed food and chilled products are hindering the market growth.
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Key Trends and Analysis of the Frozen Processed Food Market:
- Among product types, the frozen processed poultry segment accounted for highest market share of 19.16%, in 2016, owing to the high consumption of poultry and poultry products. According to Food and Agriculture Organization (FAO), the poultry consumption is expected to increase up to 3% annually. The large number of consumer prefer poultry meat over other animal protein, owing to its low cost. In Asia Pacific, there are several government policies related to frozen processed food product. The Government of India banned poultry and its product import from the U.S., in 2007, in order to prevent the spread of HPAI (Highly Pathogenic Avian Influenza) or LPAI (Low Pathogenic Avian Influenza).
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Key Takeaways of the Market:
- According to Coherent Market Insights’ analysis, North America held a largest market share both in terms of value and volume in the global frozen processed food market in 2016. North America market is driven by increasing demand for the food that require less time in preparation. Consumption of frozen processed food is increasing the prevalence of obesity among the U.S. population, which may thwart the market growth. According to National Institute of Diabetes and Digestive and Kidney Diseases (NIDDKD), nearly 70.2% of the U.S. population were considered to be obese or to be overweighed in 2014.
- Asia Pacific shows a significant growth in the global frozen processed food market. Increasing number of working women along with increasing inclination of population towards western food habits and need for freshly cooked food is positively affecting the growth of the market in this region. The frozen processed food products are considered as healthier alternative to ready to eat food products. This creates an opportunity for the manufacturers to offer wide range of products and involved in various strategies such as merger and acquisition for the expansion of their business worldwide. In 2016, Nestle and R&R Ice Cream Company, entered into a joint venture to set up Froneri Ltd., which includes Nestle European food business.
- The frozen processed food including poultry, meat or significant portion of eggs, bakery products, and fish products must have label complying with The United States Federal Food, Drug and Cosmetic Act and must be processed under the supervision of USDA.
- The key players operating in frozen processed food market include are Nestle S.A., ConAgra Foods, Inc., Kraft Foods Group, Inc., Mother Dairy Fruit & Vegetable Pvt Ltd, BRF S.A., General Mills, Inc., Maple Leaf Foods Inc., Tyson Foods, Inc., and Unilever Plc.
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