According to the current analysis
of Reports and Data, the global Frozen
Food market was valued at USD 260.8 Billion in 2018 and is expected to
reach USD 366.3 Billion by year 2026, at a CAGR of 3.2%. They are preserved by
a process of freezing and storing before cooking. It has a large market due to
increased demand from the consumers. The freezing process helps to maintain the
food in its original state till it is consumed. In this industry it involves
two procedures for freezing, one is mechanical and the other one is cryogenic.
The freezing process is required to safeguard the quality and its outer
surface. The fast freezing helps to maintain the original cell structure of the
food. Cryogenic freezing is one of the fastest process because it maintains the
low fluid nitrogen temperature of around -196 degree Celsius.
The widespread adoption of frozen
food amongst the consumers is its nutritious attribute. This items does not
require any additional additives since microorganisms don’t develop when the
temperature is beneath −9.5 °C (15 °F), which is adequate in anticipating the
decay. There are few misconceptions about frozen food when compared with the
packed foodstuff. The preservatives are present in packed items instead of
frozen foods which are harmful to health. There are also misconceptions that
freezing washes away the nutrients which is also another modern day myth. The
freezing helps to cover the outer structure of the food which ultimately helps
to preserve its nutrients. The rising preference for fresh and natural products
is a restraining factor for this industry.
Further key findings from
the report suggest
- Frozen Food industry is expected to have a CAGR of 6%
in Asia Pacific followed by Europe and North America respectively. The
factors such as changing lifestyles and increasing population of society
are driving the growth of industry.
- As of 2018, raw stage dominated the industry which
holds 41.4% of the global market. Europe is the chief revenue generating
source for this product segment, followed by Asia-Pacific and North
America.
- Dairy Products is expected to be the fastest growing
market segment during forecast period 2019-2026 with a CAGR of 3.5%.
However, the sugar and fats content which are not healthy and difficulties
faced in removing such content is one of the major challenge for the
industry in this segment.
To identify the key trends in
the industry, click on the link below:
- The packaging must maintain its integrity throughout
filling, sealing, freezing, storage, transportation, thawing, and often
cooking. As many them are cooked in a microwave oven, manufacturers have
developed packaging that can go straight from freezer to the microwave.
- Active packaging offers a host of new technologies
that can actively sense and then neutralize the presence of bacteria or
other harmful species. Active packaging can extend shelf-life, maintain
product safety, and help preserve over a longer period of time.
- Others product type segment (that includes frozen
potatoes, pizzas, snacks, ready to eat meals) was valued at USD 27.4
billion and is expected reach USD 39.05 billion by 2026
- North America is expected to account for the 28.4% of
the industry. The rise in the health sector and the rise in the packaging
sector especially in F&B segment is driving the growth in the US.
- The sodium content and starch content are found to be
in more proportion which might have side effects that may hinder the
market during the forecast period.
- Key participants includes – Nestle, ConAgra Foods Inc., Heinz, Mother Dairy, McCain Foods, Kellogg Company, Unilever, General Mills Inc., Venky’s, and Pinnacle Foods Inc.
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