Global Frozen Food Market: Food that has been subjected to rapid freezing and is kept frozen until used is referred to as frozen food. Frozen food can be stored up to 3 months from the date it was prepared. Frozen vegetables are nutritionally more reliable than fresh vegetables, as freezing prevents sensitive vitamins and nutrients from being lost during transportation. Freezing increases shelf life of fruits and vegetables and allows the consumer to choose from a vast selection of seasonal ingredients all year round.
Rising preference for ready-to-eat food among the general population, and increasing adoption of frozen foods in defense and aerospace sectors are key factors driving growth of the global frozen food market. In addition, rising demand from retailers and businesses such as hotels and restaurants especially from fast food retail chains such as McDonalds, Pizza Hut, White Castel, Burger King, etc. are major factors expected to boost growth of the global frozen food market over the forecast period.
However, frozen foods contain high amount of sodium and artificial preservatives to keep them fresh for longer period of time, which when consumed in excess are harmful for health. This is a key factor restraining growth of the global frozen food market. Additionally, frozen food are processed before freezing which results in loss of essential vitamins, and increasing preference for fresh food and vegetables from the general population are major factors expected to hamper growth of the global frozen food market over the forecast period.
The global frozen food market report has been segmented on the basis of type, end user, and region. On the basis of region, into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Europe is a dominant player in the global frozen food market and accounts for highest market share in terms of revenue as compared to that of markets in other regions. This can be attributed busy life style, and rising demand from hotels and restaurants in countries in the region. The market in North America accounts for second-highest revenue share contribution to the global frozen food market followed by markets in Latin America, Asia Pacific, and Middle East & Africa respectively. The market in Asia Pacific is projected to have fastest growth in terms of revenue, owing to increasing preference for ready-to-eat food, and busy life style in countries in the region.
Prominent players in the global frozen food market include, Aryzta AG, Nestle, General Mills Inc., Kraft Foods Group Inc., Ajinomoto Co. Inc., Cargill Incorporated, Europastry S.A., Kellogg Company, Unilever Plc, Flower Foods, and Allens, Inc.