Edison, NJ -- (SBWIRE) -- 10/29/2021 -- Global Frozen Food Market 2021-2026 is latest research study released by HTF MI evaluating the market risk side analysis, highlighting opportunities and leveraged with strategic and tactical decision-making support. The report provides information on market trends and development, growth drivers, technologies, and the changing investment structure of the Global Frozen Food Market. Some of the key players profiled in the study are Cargill, Nestle, JBS, Tyson, Kraft Heinz, General Mills, Ajinomoto, BRF, Conagra.
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Frozen Food Market Overview:
The global frozen food market is expected to expand at a CAGR of 4.5% and will be worth USD 377.3 Bn by 2023. The main factor driving the market is the change in population composition and the change in lifestyle. The proportion of millennials in the population has increased considerably in the recent past. They are starting to consider frozen food as a viable alternative because it is more convenient to use and befits their busy schedule. Additionally, restaurants and fast food chains have also increased the usage of frozen food to make their offerings more cost effective.
Segmentation based on product
The various frozen food products available in the market are meals, fruits and vegetables, meat and seafood, and snacks, among others. The frozen meal market is expected to have the highest global revenue generation of USD 149.9 Bn by 2023 growing at a CAGR of 4.2%. The frozen meat and seafood market is expected to be the second-largest market segment having a global revenue of USD 120.3 Bn by 2023 and CAGR of 3.3%. The growth can be attributed to convenience, availability of various cuisine options and the change of perception of people towards frozen food. Moreover, due to hectic lifestyle, time available for home cooking and grocery shopping is expected to witness a decline. These factors will also contribute heavily to the growth of the market.
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Regional insights
North America is the leading contributor to the global frozen food market. The North American frozen food market is projected to expand at a CAGR of 3.4% during (2021-2026), leading to a regional revenue of USD 183.4 Bn by 2023. However, the Asia-Pacific (APAC) region is anticipated to expand at the highest CAGR of 7.3% between 2018 and 2023. The growth can be attributed to increase in per capita income and rapid urbanization. In the LATAM frozen food market, Brazil, Argentina and Mexico are the key contributing countries. In the MEA frozen food market, Saudi Arabia and the United Arab Emirates are the key contributors.
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Key Questions Answered with this Study
1) What makes Frozen Food Market feasible for long term investment?
2) Know value chain areas where players can create value?
3) Teritorry that may see steep rise in CAGR & Y-O-Y growth?
4) What geographic region would have better demand for product/services?
5) What opportunity emerging territory would offer to established and new entrants in Frozen Food market?
6) Risk side analysis connected with service providers?
7) How influencing factors driving the demand of Frozen Food in next few years?
8) What is the impact analysis of various factors in the Global Frozen Food market growth?
9) What strategies of big players help them acquire share in mature market?
10) How Technology and Customer-Centric Innovation is bringing big Change in Frozen Food Market?
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Thanks for showing interest in Frozen Food Industry Research Publication; you can also get individual chapter wise section or region wise report version like North America, LATAM, United States, GCC, Southeast Asia, Europe, APAC, United Kingdom, India or China etc
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