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Growing demand for convenience food due to ease of consumption is driving the market growth
HYDERAVA, Telangana, India, Dec. 27, 2022 /EINPresswire.com/ — IndustryARC forecasts that the global quick-frozen food market will reach $290.6 billion by 2026, according to a new report. We forecast it to grow at a CAGR of 5.6%. Forecast period 2021-2026. Food-shaped consumables that are stored at a low temperature called quick freezing and used for a long time are collectively called frozen foods. The major drivers of the market are high disposable incomes in major economies, products with long shelf life, increased impulse purchases by consumers, and increasing demand for frozen foods due to busy lifestyles. Ready-to-eat frozen foods usually contain carboxymethylcellulose and oxygen scavengers that are beneficial to human health. Aggressive lifestyles due to urbanization have made consumers turn to frozen foods whenever they have the time. The availability of frozen foods through multiple distribution channels has changed consumers’ purchasing patterns regarding diet products, thereby cementing frozen foods on the list of daily consumables.
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This IndustryARC report on the Global Quick Frozen Food Market highlights the following areas:
1. Europe dominated the global quick frozen food market in 2020 due to rising living standards and growing need for convenience. The scope of the global quick frozen food market in different regions are offered in the final report.
2. Growing demand for convenience food due to ease of consumption coupled with rising disposable income of consumers is likely to help the market growth of the global quick frozen food market report.
3.A detailed analysis of the strengths, weaknesses, and opportunities of the prominent players operating in the market makes up the Global Quick Frozen Foods Market report.
4. Lack of cold chain infrastructure in developing countries is poised to create hurdles for the global quick frozen food market.
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Global Quick Frozen Food Market Segment Analysis – By Product Category: The ready-to-eat segment accounted for the largest share of the global quick frozen food market in 2020, estimated to grow at a CAGR of 5.1% during the forecast period of 2021. It has been. 2026.
Global Quick Frozen Food Market Segment Analysis – By Distribution Channel
The hypermarket/supermarket segment will hold the largest share in the global quick-frozen food market in 2020 and is estimated to grow at a CAGR of 5.4% during the forecast period 2021-2026.
Global Quick Frozen Food Market Segment Analysis – By Geography: Europe dominated the global quick frozen food market with a major share of 38% in 2020. This is due to a significant shift in customer attitudes towards frozen foods. This is mainly due to rising living standards and increasing need for convenience.
The top 5 players in the global Quick Frozen Foods industry are:
1. General Mills
4. Tyson Foods
5. Nomad Foods Co., Ltd.
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