According to Stratistics MRC, the Global Frozen Food Market accounted for USD252 billion and is expected to reach USD329.4 billion, growing at a CAGR of 3.9% from 2015 to 2022.
“The growing demand for healthy and less time consuming meals, increasing meat industry in BRIC nations and increasing population of working women are the key factors driving the frozen food market,” the company said.
Convenience is also one of the major factors favoring the market growth. However, inadequate distribution facility and lack of proper refrigeration facility in retail stores is restraining the market growth. The increasing demand for healthy frozen foods in developed markets is to grow at a moderate pace.
Frozen ready meals segment is dominating the frozen food products market by accounting more than 35% of share in overall market and is expected to exhibit considerable growth over the forecast period. Europe dominates the global market for frozen food due to increasing demand for hygiene frozen food products. Asia Pacific is expected to witness high growth rate due to increasing urban population and disposable income in developing countries such as China and India.
