Pune, Nov. 10, 2020 (GLOBE NEWSWIRE) — The global frozen food market size is estimated to reach CHF 185. 28 billion by 2027, exhibiting a CAGR of 3. 1% during the estimate period. Growing number of location dwellers around the world has to be leading factor propelling this market in the future, states Fortune Business Insights™ in its report, titled “ Frozen Food Marketplace Size, Share & COVID-19 Effect Analysis, By Type (Frozen Veggies and Fruits, Frozen Ready Meals, Frozen Pizza, Frozen Seafood, Frosty Meat Products, Frozen Potato Merchandise, Frozen Baked Products, and Others), Distribution Channel (Supermarkets/Hypermarkets, Specialty Outlets, Convenience Stores, and Online Retail), and Regional Forecast, 2020-2027 ”. Urbanization is certainly gaining considerable traction worldwide, underpinned by speedy economic growth and additionally development, especially in Asia and Africa.
According in order to the UN Department of Fiscal and Social Affairs (DESA), elegant areas, which house roughly 54% of the global population for present, shall be home to virtually 70% on the planet population by 2050. Put differently, over 2 million people can be added to often the world’s urban areas over the following about three decades, with Asian and Africa countries leading the charge. Location agglomerates are typically characterized by simply the widespread presence of food markets, hypermarkets, and departmental stores. Frozen type of foods are some from the most prominent items relating to shelves at these facilities owing to their high demand among often the working populace. Thus, expansion for urban areas is expected to favor the growth of this kind of market during the forecast period.
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As per often the report, the global market worth i visited USD 146. 79 billion for 2019. The report also benefits the actual:
- Comprehensive insights into your drivers, trends, and restraints framing market size & growth;
- Tangible analysis of the particular various market segments;
- Detailed profiling and study in the key market players & their strategies; and
- Exhaustive examination of the local opportunities & developments impacting this market.
Resurgent Demand for Ice-covered Foods amid COVID-19 to Boost the Market
In the event the coronavirus outbreak broke out and lockdowns in addition to social distancing measures were enforced worldwide, retail stores and grocery store outlets were fearful of diminished footfalls, which would result around declining sales. While consumer footfall dropped as expected, retail amenities are experiencing a new samsung s8500 of demand for these food types items.
With respect to a study commissioned just by the American Frozen Food Commence (AFFI), the resurgent demand with regard to frozen food is attributable to going back buyers as well as first-time buyers. The study found that will in America, approximately 86% of consumers were buying frozen type of foods, despite the pandemic. More interestingly, the study unmasked that 70% of current consumers are purchasing more products than usual, while 68% are trying new items, indicating a shift purchasing patterns. The COVID-19 pandemic, therefore, has grown the demand for frozen foods as well as the AFFI study states that this surge will keep on even after the crisis is over.
Key Points Covered:
- Online business offerings
- Commerce Problems
- Demand Insights
- CAGR Values
- Historic Analysis
- Specific Segmentation
- Top Providers Data
- Market Dimensions
- Supply Trend
- Target Audience
- Key Geographies
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Increasing Preference for Vegetarian Diets in order to Catalyze the Market in European union
With a size of UNITED STATES DOLLAR 56. 17 billion, Europe focused the frozen food market promote in 2019 and the location is expected to retain it has the leading position during the forecast period. This will be mostly attributable to the gradual taking of vegetarian and vegan diet habits in the region, which is fueling the demand for frosty vegetables and fruits. Additionally, high consumer purchasing power could be another factor feeding the growth belonging to the regional market.
Growing awareness among consumers about the benefits of frozen foods and strict food-safety regulations imposed by the US Food and Drug Administration (FDA) on frozen eatables will support the market industry in North America. In Asia Pacific, the primary advancement driver for the market should be the rising number with cold chain facilities in often the developing countries of one’s region.
Tactical Launch of Products in Regional Markets to Foster Competition
Primary players in this market are tapping avenues to capture region-specific frozen foods industry trends and additionally expand their presence in these regions. Besides this, companies tend to be also making large-scale investments around enhancing their production and 3rd there’s r & D capacities, thereby reinvigorating their market presence.
Variety of Best Companies Profiled during the Frozen Food Market Document:
- Tyson Foods, Inc. (Arizona, U. S. )
- Unilever PLC (London, U. K. )
- McCain Foods Limited (Toronto, Canada)
- Grupo Bimbo S. A. B. DE C. V. (Mexico City, Mexico)
- Conagra Brands Inc. (Illinois, Oughout. S. )
- Standard Mills Inc. (Minnesota, U. Nasiums. )
- Wawona Veggies recall Foods (California, U. S. )
- The Kraft Heinz Company (Illinois, U. S. )
- Lantmannen Unibake Worldwide (Copenhagen, Denmark)
- This Kellogg Company (Michigan, U. S i9000. )
- Nestle SA (Vevey, Switzerland)
Primary factor Industry Developments:
- July 2020: Tyson Foods released a new assortment of frozen chicken products less than its Tyson brand across the foodservice industry in Europe. The brand consists of 28 taken items with a variety for categories including coated fillets in order to skewers.
- September 2019: Conagra Brands unveiled its plans to build an innovation center within Chicago, which will be known as ‘The Conagra Brands Center with respect to Food Design’. The center can consentrate on innovation related to munching, while the company’s Center designed for Food Design and Technology around Nebraska will deal with the company’s frozen, refrigerated meal offerings.
Browse Detailed Summary of Explore Report with TOC:
Detailed Family table of Content:
- Intro to probiotics benefits
- Research Scope
- Market place Segmentation
- Research Methodology
- Definitions and Presumptions
- Executive Summary
- Market Characteristics
- Market Drivers
- Industry Restraints
- Market Prospects
- Key Observations
- Overview of Frozen Market
- Supply Chain and Regulating Analysis
- Industry SWOT Analysis
- Recent Market Developments: Policies, Partnerships, Cool product Releases, and Mergers & Acquisitions
- Global Frozen Food Market Study, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Frozen Fruit and veggies
- Frozen Ready Meals
- Frozen Seafood
- Frozen Meat Products
- Frozen Potato Products
- Frozen Baked Products
- Market Analysis, Experience and Forecast – By Handing them out Channel
- Specialty Stores
- Convenience Stores
- Online Retail
- Market Research, Insights and Forecast – Just by Region
- The united states
- Asia Pacific
- South usa
- Middle East & Africa
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