Rise In Working Population To Augment The Frozen Food Market Growth

Frozen Food Market
Frozen Food Market

Frozen Food Market By Product (Fruits & Vegetables, Potatoes, Ready Meals), By Distribution Channel (Offline, Online), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa) Size, Share, Outlook, and Opportunity Analysis, 2023-2030

The global Frozen Food Market is estimated to be valued at reach US$ 185.07 billion in 2022 and is expected to exhibit a CAGR of 5.2 % over the forecast period, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Frozen food is an easy and comfortable method to make several dishes with rich taste and one can prepare several food items. It is also a better method to reserve the standard of foods. The frozen food is projected to increase in the next few years. This development is owing to rising health problems amidst user and the influx of new techniques in the organization. Anyhow, the market is still experiencing some challenges. One main limitation for the frozen food companies is absence of organization. This can cause to a food adulteration and decay.

Competitive Landscape:

Key players in the growth of global frozen food for market are Nestle SA, Tyson Foods Inc., Nomad Foods Ltd, Unilever Plc and General Mills Inc.

Market Key Drivers:

The rise in eco-friendly and sustainable packaging for the betterment of surrounding is expected to drive the growth of global Frozen Food Market. For instance, in April 2022, Nomad Foods collaborated with Innoget, to create clean-label paper packaging for frozen food, such as frozen potato fries.

The rise in working population and their hectic lifestyle is anticipated to propel the growth of global frozen food for market. For instance, as per BLS the working population accounted for 63.3 million in 2021.

Covid-19 Impact Analysis:

The Covid-19 outbreak has adversely affected the growth of global Frozen Food Market due to the imposition of strict lockdown and shutdown. The surge in pandemic has led to the restraints on several industries, disruption in supply chain, halt in supply of food and other raw materials and closure of production and manufacturing sites has impede the market growth. The social distancing measures, the closure of restaurants, super markets and shift towards consuming hygienic food has hindered the market growth.

Key Takeaways:

The global frozen food for market is anticipated to exhibit a CAGR of 5.2 % during the forecast period due to rising demand of frozen potato foods. For instance, as per the Central Statistical Office of Poland, in 2021, Russia shipped 28% of the frozen french fries, and over 494 thousand tons of french fries were made in Germany in 2021.

Among regions, North America, Europe, and Asia Pacific are expected to witness robust growth in the global Frozen Food Market due to rise in working population, increasing demand for frozen food such as French fries, rising investment and collaborations and partnerships. For instance, Picard Surgelés, a French food company focusing in the production and retail distribution of frozen products, has above 900 stores in France.

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