A recent report published by Infinium Global Research on frozen processed food market provides in-depth analysis of segments and sub-segments in the global as well as a regional frozen processed food market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional frozen processed food market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global frozen processed food market. According to the report, the global frozen processed food market is projected to grow at a healthy CAGR over the forecast period of 2020-2026.

Market Insight

Frozen food processing is the chemical or mechanical procedure of modifying cooked food or ingredients and freezing it at recommended temperatures. Processed food combines raw food ingredients to produce accessible marketable food products. Frozen processed foods are easy to prepare as compared to fresh food and therefore are gaining popularity among the population. Furthermore, several governments are proposing new standards for frozen processed food. For Instance, in 2016, Food Safety and Standards Authority of India (FSSAI), proposed standards associated with metallic contaminants limits, for frozen processed vegetable and fruit products comprising jams, canned tomatoes, and frozen peas. These frozen products also required to follow the labeling and packaging standards of the regulator.

The changing lifestyles of the global population marked with busy schedules are pouring the consumption of frozen processed food across the world. With less time to cook elaborate and nutritious meals, a progressively high number of consumers are choosing convenient meal options. This trend is particularly making a pronounced impact on the revenues of the frozen processed food market in several countries such as the United States, India, China, and the Philippines. In addition, rising disposable incomes are also contributing to the growth of this market. On the other hand, the lack of refrigeration facilities in small retail stores and low penetration of large retail formats are the major challenges for the frozen processed food market in emerging economies. However, owing to the rapid development of retail stores and upsurge in the income level of the middle-class population, the market has shown remunerative business opportunities for the past few years. Further, technological adoption is one of the frozen processed food market opportunity in front of manufacturers and distributors.

During the global COVID-19 outbreak and the indeterminate lockdown across several countries, the consumer food & beverage industry first observed high demand for household staples, healthy food items, and consumables with longer shelf lives. The demand for frozen processed food products, fruits & vegetables, and whole grains, among others, witnessed a significant upsurge during the early stages of the pandemic. Currently, most vendors in the market are facing low consumption of their products and supply chain challenges. The vendors are focusing more on changing their supply chains in order to strengthen their online presence and delivery measures, in an attempt to adapt to the present business environment. The fluctuations in consumer buying behavior and the dynamic shifts towards online distribution channels may have severe implications on the near future growth of the business.

Among the geographies, North America region is expected to hold the largest share in the global frozen processed food market as countries such as the U.S. and Canada are the front-runners of the adoption of new technology. Furthermore, the increasing consumer interest in healthy and functional food propels the market growth of the frozen processed food market in the North America region. Moreover, the ability to preserve the processed food allows the manufacturer to deliver products to the consumers to the other side of the world, leading to flourishing the growth of frozen processed food market. However, the Asia Pacific region is expected to witness the fastest growth in frozen processed food market during the forecast period. This is attributed to the growing adoption of frozen processed food in emerging markets such as China and India. Further, technological advancements and development of new products within cost-effective price ranges will propel this regional market during the forecast period.

Segment Covered

The report on global frozen processed food market covers segments such as product type. On the basis of product type, the sub-markets include frozen bakery products, frozen desserts, frozen meat substitutes, frozen sea food, frozen processed poultry, frozen red meat, and others.

Companies Profiled:

The report provides profiles of the companies in the market such as Nestle S.A., ConAgra Foods, Inc., Tyson Foods Inc., Unilever plc., BRF S.A., General Mills, Mother Dairy Fruit & Vegetable Pvt Ltd, Maple Leaf Foods Inc., ConAgra Foods, Inc., and Unilever Plc.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of frozen processed food market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.