The global frozen food market is set to reach a figure of USD293.7bn by the end of 2019, from USD224.7 bn in 2012, thus displaying moderate growth at a 3.90% CAGR for the period from 2013 to 2019, according to a new report by Transparency Market Research (TMR).
According to TMR analysts, the market for organic and natural frozen food will see many growth opportunities in the coming years and emerging economies in the Asia Pacific region will contribute massively to the frozen food market.
Europe led the frozen food market in 2012 by accounting for a whopping 35% of the global frozen food market, while the frozen ready-to-eat meals segment leads the market, accounting for 35% of the total market. Second in line was the frozen potatoes segment, which is anticipated to be the fastest growing segment in the forecast period. The North America frozen bakery products market has been estimated at USD 4.87bn in 2016 and is projected to reach USD 7.29bn by 2021, at a CAGR of 8.40%.
