Published Date : Jul 15, 2016
The need for products which have health benefits and are also easy to access s increasing due to the busy schedule of people in urban regions. Frozen processed food is one such product whose market is expected to grow between 2015 and 2021, as they are easy to preserve till their consumption and have health benefits over other forms of quick bites, such as ready-to-eats. The growing demand for healthy and easy to access food in developing countries is expected to play a key role in the growth of the global market for frozen processed food.
Health Consciousness to Play Key Role in Driving Frozen Processed Food Market
Across the world, consumers perceive frozen foods as healthy and low in fat and calorie content. The busy lifestyle of consumers living in developing countries such as India, China and Philippines is supported by their growing disposable income, which is expected to play a favorable part in the swift growth of frozen processed foods market globally. The Asia Pacific region, is thus expected to experience a strong 5.5% CAGR in between 2015-2021.
Poultry and Sea Food to Have Largest Market Share in Global Frozen Food Market
As the inclination of consumers towards handy foods is increasing, their change in health habits and lifestyle structure is also giving rise to increased global consumption of poultry products as well as sea food and meat. The future global market for frozen foods is expected to be driven by poultry food and sea food more than meat. Market players are looking for opportunities in the circulation of these forms of frozen foods to gain more revenue in the market. In 2014, the frozen food segment for poultry held the largest share.
Obesity to Be One of the Major Threats to Frozen Food Sales
The major challenge that the global market for frozen food is expected to face is the intensification of obesity in developing as well as developed countries. Moreover, the lack of awareness regarding the difference between frozen and chilled food is also projected to hamper sales of frozen foods globally. The low cost of chilled foods will also play a major role in this process.
Taking into account the positive aspects of the emerging market for frozen processed food, the global market is expected to display a CAGR of 2.7% between 2015 and 2021.