Research company Technavio predicts that the global packaged burgers market will grow at a CAGR of more than 7% during the period 2017-2021.
In 2016, the frozen burger segment dominated the global market with a revenue share of more than 68%. In 2016, EMEA accounted for the largest share of close to 52% of the global packaged burgers market. BUBBA foods, DR. PRAEGER’S SENSIBLE FOODS, Drink Eat Well, Kellogg, Monde Nissin, Paragon Quality Foods, and The Kraft Heinz Company are the leading players in the market
Frozen burger: largest segment
It is the largest product segment in the global packaged burgers market. In 2016, the segment dominated the global market with a revenue share of more than 68%. Frozen burgers are the second most preferred fast food after frozen pizza. The market is projecting good growth prospects as many several vendors in the burger market have ventured into the frozen food industry over the past five years.
According to Manjunath Reddy, a lead analyst at Technavio for research on food, “Frozen burgers are the most preferred variant of packaged burgers because they can be kept in the freezer for long durations and their shelf life ranges from six to eight months. Ground turkey and ground beef burgers are the most popular product variants of frozen burgers. The increasing number of vegan product launches and growing demand for organic, gluten-free and low-fat products will drive the growth of the global packaged frozen burgers market during the forecast period.”
Rising urbanization and growing demand for convenience food products are one of the major factors driving the global packaged burgers market. Urbanization is a growing trend across the globe. As per the World Bank data, 53.85% of the global population is settled in urban areas. The growing urbanization indicates that there is a rise in the disposable income of consumers and their living standards have also improved. However, hectic lifestyles have resulted in deteriorating health conditions and lifestyle disorders because of unhealthy eating habits. The working population seeks high nutrition-based fast foods made from organic and gluten-free ingredients.