Raw material distributors and suppliers such as Cargill Inc., Ingredion Inc. and others supply various raw materials and ingredients according to the precise need to the manufacturers of frozen food according to the standard they have establish during their product testing.
Albany, NY -- (SBWIRE) -- 07/19/2016 -- The global frozen foods market is in a state of moderate, yet constant expansion. Frozen foods are high on the convenience quotient, and hence the adoption of frozen foods will continue to be observed in areas where urbanization is gathering pace. The market research report on the global frozen food market takes a granular look at the many influencing factors that are steering this growth. The report is a result of qualitative and quantitative research techniques that aim to drill down to the exact factors that are – driving growth, restraining growth, and creating new opportunities for growth.
Overview of the global frozen foods market
Frozen foods, as the name suggests, are stored at sub-zero temperatures to ensure that their moisture content stays in a solidified state. This helps preserve foods several times longer than fresh food. The following are causative factors for the growth of the frozen foods market: An increase in the number of working women globally, hectic lifestyles that necessitate reliance on convenience foods, new product launches and intelligent product positioning by frozen foods producers. Common examples of frozen foods are: meat (chicken, beef, pork, turkey, and fish), vegetables and beans, soups, meals, pizza, and others.
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The frozen foods market depends on raw material distributors such as Cargill Inc. to supply the right quality and variety of foods that can be frozen for retail buyers. According to the estimates of TMR's research, the global frozen food market could top US$293.75 billion by 2019. In 2012, the global frozen food market was estimated at US$224.74 billion. This market is forecast to show a moderate CAGR of 3.9% from 2013 through 2019.
In the coming years, lucrative opportunities will be seen in organic and natural frozen foods. Vigorous growth in the emerging economies of Asia Pacific will help boost demand for frozen food globally. However, Europe was the leading market for frozen foods in 2012, contributing to about
35% of the global market.
Key product categories within the frozen foods market are: Fruits and vegetables, potatoes, meat, ready meals, fish/seafood and soup. The frozen ready meals market holds about 35% of the total market share. The fastest growth will be witnessed in the frozen potatoes segment through the forecast period of this report.
Impeccable hygiene and temperature controls are integral to the operations of players in the global frozen foods market. However, these are also the key challenges because most leading players are almost entirely dependent on third party distributors to reach retail consumers.
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Competition in the global frozen food market report
The top five companies in the frozen food market take away about 17% of market revenues. These top names include: Nestle, H.J. Heinz and ConAgra. In the coming years, market concentration will likely rise as leading players deploy advanced technology, M&A strategies, and reduce dependence on wholesalers to directly reach retailers. About 12.5% of the total market share was held by private labels dominant in regional markets. Some other prominent names in the frozen food market are McCains and The Schwan Food Company. Besides these names, the market features a number of unorganized brands that boasted of a 65% market share as of 2012.
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