According to a new report published by Allied Market Research titled, “World Frozen Food Market” - Opportunities and Forecasts, 2014–2020,” the global frozen food market would garner revenue of $306 billion by 2020, registering a CAGR of 4.1% during the forecast period of 2015–2020. Ready meal market encompassing ready to eat foods would account for the highest sales value of $112.7 billion by 2020. North America and Europe together account for nearly 72% of the total market revenue. However, developing markets would witness a significantly higher growth over the forecast period.
Frozen ready meals account for the largest share of the overall market sales value and would continue to be the leading contributor over the forecast period (2015 – 2020). The segment is forecast to witness a CAGR of 3.8% during 2015 - 2020. Protein bars, healthy snacks and other such frozen food products would continue to gain popularity among consumers. Frozen bakery and snacks’ market would witness a rapid growth in Asia Pacific region. Frozen potatoes and frozen vegetables & fruits together constitute around 14% of the overall frozen food market revenue. Increasing sales of organic fries and snacks has created a huge demand of organic and sweet frozen potatoes in the developed markets.
End users of frozen food comprise of retail as well as business/food service industry customers. Rapidly increasing popularity of fast foods including fries, pizza and burgers, specifically in the developing markets, has largely supplemented the growth of frozen potatoes, vegetables & fruits, seafood and other such frozen food products in food service industry. However, retail user segment would witness a higher CAGR of 4.2%, owing to the changing food habits and innovative product offerings by frozen food players.
The growth in developed markets such as North America and Europe would largely be supplemented by food service industry. However, retail market would be driven by healthy frozen food products manufactured from high quality ingredients.
Asia Pacific and LAMEA, together, would account for around 35% of the global frozen food sales by the year 2020.
For more information:
Deep Joshi
Allied Market Research
Tel: +1 (503) 505-6949
Email: sales@alliedmarketresearch.com
www.alliedmarketresearch.com
Announcements
Job Offers
- Senior Agronomist/Horticulturist and Agronomy/Horticulture Manager
- Growers & Assistant Growers
- Plant Biologist
- Ripening Officer Bananas / Exotics
- Grower and Nurser
- Farm Manager
- Floriculture Production Planning Manager
- Agricultural Mechanic / Crop Sprayer Operator
- Technical Services Manager
- Quality Controller
"Tweeting Growers"
Top 5 -yesterday
- Yuksel Seeds expands its presence in China
- Berry farm cluster model from Panama to the globe
- Cloth washer thoroughly cleans shredded cloth during crop changes
- In eight years, Ranjit Singh has become one of New Zealand’s largest telegraph cucumber growers
- Organic grower and shipper celebrates 10 Years of Fair Trade certification
Top 5 -last week
- Top tips for growing lettuce in a greenhouse
- UK: Grower reduces greenhouse temperature by more than 6°C during heatwave with no cooling, fog systems
- New packaging for hydroponic fertilizer launched
- Taking the wisdom from indoor farming and bringing it into greenhouses
- "Kawaguchi tomato variety good option for consumer, but also good for the grower"
Top 5 -last month
Receive the daily newsletter in your email for free | Click here
Other news in this sector:
- 2022-08-16 “Raising capital in the US is easier than in Europe”
- 2022-08-16 Kenya: Horticulture fruit and flower exports fall
- 2022-08-16 Total ad numbers this week: 7% decrease from last week's 314,510
- 2022-08-16 Movement of blueberries through Oregon and Washington expected to decrease slightly
- 2022-08-16 Ghana: Rising air-freight costs affect export of chili peppers and more
- 2022-08-16 Spain faces the most serious water deficit of the past fifteen years
- 2022-08-16 UK: £60m worth of food wasted due to lack of workers, NFU warned
- 2022-08-15 Indonesia: Pushing food security for Stunak Island residents
- 2022-08-15 Tomato prices surge as rains damage crop in Shimla, Andhra Pradesh, Karnataka and Maharashtra
- 2022-08-15 USDA to invest $15 million in climate-smart agriculture
- 2022-08-15 Kenya puts more focus on the berry export market in new deal
- 2022-08-15 Strawberry picking robots aim to save California growers
- 2022-08-15 July 2022 cannot compete with record prices for tomatoes in July 2021
- 2022-08-15 Chongming, Shanghai: High-tech produced vine tomatoes arrive at the market
- 2022-08-15 US: Western Growers praises Gov. Newsom's Bold Water Supply Strategy for California
- 2022-08-15 US to import more vegetables in first half of 2022
- 2022-08-12 Understanding the profitability of your greenhouse
- 2022-08-11 "European retailers want alternatives to possible decline of lit Dutch tomato acreage this winter"
- 2022-08-11 Movement of Mexican asparagus through Arizona, California and Texas expected to remain about the same
- 2022-08-11 Total ad numbers this week saw 2% increase from last week
