The Frozen Ready Meals market is estimated to grow at a CAGR of 9.48% during the forecast period of 2021 to 2028.
Introduction-
Frozen ready meals are the type of meals that are frozen in order to prevent it and increase the life of its shelf so that it should not get spoiled and contaminated. Presently, the frozen meal is getting popular among various parts of the society rapidly especially among the young generation due to its less consumption of time and easy preparation.
Further, on the other hand, the fats available in the frozen ready meals and the unfavorable mindsets and different opinions on the frozen food on the health are the aspects that are predicted to hinder the growth of the frozen ready meal market in the upcoming years.
Overview-
Increasing demand for convenience food and the advancement in the technology in the market of cold chain are the prime aspects for driving the growth of the market. Whereas, the rising requirement for natural and fresh food products is preventing factors for the frozen meal market.
However, manufacturers are presenting all types of frozen products like, vegetarian and non-vegetarian which are predicted to support the growth of the frozen ready market. However, the crises of the covid-19 pandemic have increased the growth at a higher level, as peoples are unable to go out and buy products. Yet the frozen ready meal has the property to keep the nutrients of food intact for a longer time and this is the major selling factor of the frozen food market.
Importance-
The frozen food holds the vitamins and minerals also there is no change in the proteins, carbohydrates, and fats content. Whereas, in some of the cases frozen food contains more minerals and vitamins more than the requirement as compared to fresh food, as fresh food loses minerals and vitamins over time and the freezing food preserves the nutrients.
Market Size-
In the year 2019, the global frozen ready meal market is predicted to grow at USD 146.79 billion and is anticipated to reach USD 185.28 billion by the year 2027 at a CAGR of 3.1% during the forecast period 2019 to 2027.
The market is experiencing considerable growth in the market due to increasing requirements for convenience food products, ready meals, on-the-go foods, and cold cuts.
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Segmentation of Market-
The Global Frozen Ready Meals market is sub-divided into various sectors on the basis of Product, Types, application, and region.
By-Products- Frozen Vegetables, Dairy Products, Frozen Soups, Frozen Seafoods and Meat, Frozen Convenience Food, and Ready Meals.
The frozen vegetable and fruits sector is expected to hold the largest shares in the market.
By Types- Raw Material, Half-Cooked, Ready-to-eat.
The ready-to-eat segment holds the prime shares of 34.6% in the year 2019, as the foodservice industry is among the major consumer of frozen meals.
By Application- Retail Customers and Food Service Industry.
The foodservice industry acquires a large market share and boosts the growth of the market.
By Region- Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa.
Europe acquires the largest market share of 34.9% in the frozen food market, due to rise in customers awareness about the advantages of frozen ready meals and the demand increased.
Major Key-Vendors of the Frozen Ready Meal Market-
- Bonduelle SCA
- Ajinomoto Co. Inc.
- Conagra Brands Inc.
- August Oetker Nahrungsmittel
- George Weston Ltd
- Kerry Group Plc
- 4McChain Foods Ltd.
- Tyson Foods Inc.
- Nomad Goods Ltd.
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