Frozen Snacks Is Fastest Growing Segment Fueling The Growth Of Frozen Processed Food Market

 
Frozen Processed Food Market

The global Frozen Processed Food Market is estimated to be valued at US$ 183683.21 Mn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Frozen processed foods help preserve food by freezing and maintain the nutritional value of food products for long periods of time. They offer convenience to busy consumers by providing ready-to-eat or ready-to-cook meals and snacks.

Market key trends:
One of the major trends in the frozen processed food market is the rising popularity of frozen snacks. Traditional frozen processed foods were mainly limited to meals, but now a wide variety of frozen snacks such as frozen pizzas, burgers, vegetarian foods etc. are gaining traction among consumers. The availability of creative flavors and convenient packaging is driving the sales of frozen snacks. Introduction of healthy ingredients in frozen snacks while maintaining taste and nutrition is also boosting their demand.


Segment Analysis
The global frozen processed food market is broadly segmented into ready meals, meat, seafood & poultry, soups, pizza, potato products, and others. The ready meals segment dominates the global market with maximum revenue share owing to growing demand for convenient food options among working professionals and millennial population. Convenience foods such as frozen pizza, frozen entrees & appetizers have high demand due to increasing working hours and busy lifestyles.

Key Takeaways
The Global Frozen Processed Food Market Demand  is expected to witness high growth, exhibiting CAGR of 4.8% over the forecast period, due to increasing demand for convenience foods and busier lifestyles.

The North America region is expected to dominate the global frozen processed food market during the forecast period owing to high consumption of frozen foods such as pizza, snacks and seafood in countries like United States.

Key players operating in the frozen processed food market 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. These players are focusing on new product launches and mergers & acquisitions to strengthen their global presence. For instance, in 2021, Maple Leaf Foods Inc. acquired VIA Group to expand its plant-based meat portfolio.

Read More:

https://www.marketwebjournal.com/frozen-processed-food-market-demand-forecast-and-insights/

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