Europe Remains the Largest Frozen Food Market

In 2014, the value of the global frozen food market was estimated by research company Persistence Market Research (PMR) to be at USD126,1bn, a figure anticipated to reach USD156,3bn by 2020. In terms of volume, the global frozen food market is projected to grow from 26,4bn kg in 2014 to 31,3bn kg in 2020. Out of all regions, Europe is still the largest market for frozen food, according to the latest report by PMR.

 

Regionally, the various European markets differ in terms of preferences for this category, with Germany leading the pack due to numerous options presented by multinational companies, as well as domestic manufacturers. The report states that the frozen food market in Germany is also fueled by the availability of products at an economical price and by the presence of a strong modern retail with many channels.

 

In contrast, after the poor performance recorded by frozen food in the UK, because of the horsemeat scandal, the segment has been slowly growing, due to low prices, product innovation and concerns about food waste. Although negative perception for the category persists, this is changing constantly.

 

In France, concerns pertaining to preservation of nutrients and taste when it comes to frozen or processed foods is a major challenge. As such, consumers in France are still skeptical about the quality and safety of frozen foods and this has significantly impacted volume of sales. The frequency of purchase of frozen foods has been rapidly declining as seasonal products gain popularity.

 

Lastly, in Italy, due to the widespread availability of fresh produce, consumers are hesitant in purchasing frozen food. Another factor in this regard is the culture of home-cooked meals made from fresh ingredients. However, producers of frozen food in Italy have been hard at work in changing perceptions regarding the category, by developing gluten-free and organic frozen foods.

 

For more information on the report, please click here

 

 

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