Frozen Food Industry Projected to Garner Major Revenues by 2025
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Jan 18, 2021 (AB Digital through COMTEX) —
The frozen meals market is believed to account for about USD 244.3 billion in 2020 and is projected to attain a price of about USD 312.3 billion by 2025, at a CAGR of 5.%. Developments in the retail landscape, increasing demand for benefit food items, and technological developments in the cold chain market are the big driving elements for the current market. On the other hand, the climbing preference for contemporary and organic foods items is a restraining aspect for the frozen meals sector.
The handy & ready foods section is approximated to dominate the world current market in 2020.
By item, the convenient & prepared foods phase is believed to dominate the world current market in 2020. This is thanks to the switching and fast paced existence of folks, globally, which has enhanced the use of frozen foods, globally. Frozen foods are uncomplicated to get ready and consider much less time for preparing. They are balanced and have significant nutritional worth. Frozen foods export organization has also improved in latest moments owing to the substantial acceptance of these merchandise among shoppers and manufacturer consciousness amongst establishing nations around the world.
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The offline section is estimated to account for the greatest share in the frozen foods marketplace in 2020.
By distribution channel, the offline segment is estimated to account for the largest share in the market in 2020. The infrastructure of the convenience stores and hypermarkets incorporates freezing and temperature-controlled services, which are driving the progress of this phase as a distribution channel for frozen items.
The completely ready-to-prepare dinner phase is projected to increase at the maximum CAGR through the forecast period of time in the industry.
By style, the all set-to-prepare dinner segment is approximated to grow at the highest CAGR. Aspects such as modifying lifestyles and expanding population of working females are driving the growth of completely ready-to-eat frozen food items, globally.
Europe accounted for the greatest share in the frozen food items marketplace
Europe accounted for the major market share in the industry. Populace development, swift urbanization, and the rise in consumer consciousness about the advantages of frozen meals are the essential variables driving the demand from customers for frozen meals in the location.
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The key players in this current market include Standard Mills Inc (US), Conagra Models, Inc. (US), Grupo Bimbo S.A.B. de C.V. (Mexico), Nestle SA (Switzerland), Unilever (Netherlands), Kellogg Organization (US), McCain Meals Constrained (Canada), Kraft Heinz Corporation (US), Connected British Food items plc (British isles), Ajinomoto (Japan), Vandemoortele NV (Belgium), Lantmannen Unibake Worldwide (Denmark), Cargill (US), Europastry S.A. (Spain), JBS (Brazil), Kidfresh (US), Aryzta (US), Kuppies (India), OOB Organics (New Zealand), Omar Worldwide Pvt Ltd (India), Bubba Foods (US), Shishi He Deming (China), and Intelligent Price Revenue & Internet marketing (US), Chevon Agrotech Pvt Ltd (India), and Omar Intercontinental Pvt Ltd (India).
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