The global frozen food market is expected to reach USD 311.9 bn by 2021, growing at a CAGR of more than 6%, according to the latest market study released by Technavio.
“The global frozen food market will register a steady growth during the forecast period, owing to the increasing demand for convenience. A high percentage of the female workforce, increased purchasing power, and expansive product portfolios are the factors that are expected to boost the market’s growth,” according to researchers.
Frozen ready-to-eat meals
The rise in the number of single-person households, growing working women population, and desire for convenience are the factors responsible for the rapid growth of the market. The Americas is the largest consumer of frozen ready-to-eat products, and frozen pizza is one of the most favored types of frozen ready-to-eat meals. Frozen ready-to-eat meals include Indian-style chicken curry, beef lasagna, chicken korma, Chinese chicken curry, creamy butter chicken, and Singapore noodles.
According to Manjunath Reddy, a lead food research analyst from Technavio, “Increase in the number of children and the growing older population base who favor instant meals rather than a fully cooked meal are responsible for the rising demand for frozen ready-to-eat meals.”
Frozen meat and poultry
One of the popular frozen food product is meat and poultry as they are available in hygienic packages that are convenient to store. Moreover, Fresh meat bought from the market needs instant cleaning to avoid any deterioration in the taste or texture, whereas frozen meat just requires defrosting. Frozen meat also has a longer shelf life than fresh meat as ice crystals tend to freeze the meat’s moisture.
“The easy accessibility of food items in convenience stores and supermarkets in huge varieties is adding value to these products. The popular frozen food products are meat, and poultry products are frozen beef, frozen duck, frozen turkey, frozen chicken, frozen bacon, and frozen gammon,” says Manjunath.
