Overview
The frozen food market is set to grow at a CAGR of 5.68% during the forecast period 2018 to 2026. As per the market research report, the market will hit USD 253,674.8 million in terms of valuation by the end of 2026. The market growth will be driven by the changing social behavior. Based on the research report, the increasing disposable income will accelerate growth in the market till 2026. Although the low demand from developing countries will have a negative impact on the global frozen food market’s growth during this period. The high cost associated with products is predicted to be a key challenge which could become a strong threat from 2018 to 2026 to companies.
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The market report published by expert analysts includes primary and secondary data and suggests that service, type, technology, and vertical segments are anticipated to witness tremendous growth till 2026. Factors such as shifting trends in the consumer market will become key growth drivers during the forecast period and the increasing spending power is also said to be supporting the market globally, however, the growth projected for the forecast period could be affected by growing concerns related to the cost which could negatively affect activities taking place across the market. The increasing demand for product substitutes is another challenge the market could face till 2026.
Market Segmentation
The frozen food market is segregated into different market segments based on service, type, technology, and vertical. For a comprehensive analysis of the market, the service, type, technology, and vertical segments are further split into smaller segments. Furthermore, based on type, the global market is also segmented into frozen (meat & poultry, seafood, and fruits & vegetables), frozen processed (dairy & desserts, meat & poultry, seafood, soups, bakery products, and others). Based on the market segmentation analysis, the report covers market forecasts. The vertical segment is categorized into store-based (convenience stores, supermarkets & hypermarkets, and others) and non-store-based.
The increasing preference of consumers will support the market growth from 2018 to 2026. As per the market research report, the global market for frozen food is anticipated to grow at a healthy rate across all the service, type, technology, and vertical segments. However, the presence of active threats such as the fluctuating prices of raw materials could hamper the market growth. Business activities across frozen food have also been examined and studied by frozen food industry’s experienced analysts. The frozen food market research report covers findings with predictions and forecasts till 2026.
Regional Overview
The frozen food market, with its product and service-related segments, is spread across the world. Frozen food based regional markets are also covered in the market research report. The regional markets are Asia-Pacific, Europe, North America, the Middle East and Africa and the rest of the world. The growing awareness is anticipated to be a major factor for growth across the frozen food space during the forecast period. The regional market in North America is classified as the United States, Mexico, Canada, and others. The frozen food sector based regional markets in Europe are split into Italy, Germany, France, and the United Kingdom. In the Asia Pacific region, the market is segmented into China, India, Japan, and others. Frozen food-based businesses in these regional markets are anticipated to grow due to favorable government policies during the forecast period 2018 to 2026. Although the market’s growth could be affected by concerns regarding side effects. The analysts have also segmented markets of the Middle East, Africa, and the rest of the world.
Competitive Landscape
Frozen food-based organizations are profiled in the market research report. The frozen food market along with companies and segments have been studied. The analysis of frozen food-based business is also done to identify key challenges and strengths of these companies. The global frozen food market research report covers SWOT analysis, Porter’s Five Force analysis of major frozen food related organizations. The strategy and other key details of these companies for the forecast period 2018 to 2026 are covered in the report. The growing application area is anticipated to support the market growth as the market is set to grow at a CAGR of 5.68% and reach a value of US$253,674.8 million by 2026.
Industry News
Farm wise L.L.C., a manufacturer of frozen veggie fries, veggie tots, and veggie rings located in Wellesley, Massachusetts, has been purchased by B&G Foods, Inc. The transaction's terms were not disclosed. Farmwise completes a portfolio of products that includes Back to Nature, Maple's Grove, and others. Cauliflower, navy beans, and onions are used in Farmwise's frozen veggie snacks. The goods are gluten-free, non-GMO Project confirmed, and allergen-free, including tree nuts and peanuts. We're excited to continue promoting the Farmwise brand in the natural channel, as well as launching products that Farmwise has built into modern, groundbreaking Green Giant product offerings.
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