There have been recent advancements such as the creation of new formulations that remove allergens like dairy, soy, and wheat, the introduction of a wide range of ethnic, and ingredients to suit changing palates and innovations in packaging are expected to impact the overall industry growth positively.
Further key findings from the report suggest:
Frozen potatoes are presumed to be the fastest growing product segment growing at a CAGR of 4.9% over the forecast period. Advantages such as less waste, low price and ease of usage are expected to drive the market growth
Frozen fruits & vegetable segment is presumed to grow at a CAGR of 4.5% from 2016 to 2024. High nutritional value, all season availability and competitive pricing are the attributed factors for this growth
Frozen ready meals accounted for more than 35% in 2015 and are expected to occupy a major share over the forecast period. Availability of staple ready meals, product differentiation and ease of usage are the factors expected to drive this growth
The industry is fragmented in nature with the presence of both regional and international market participants. Companies are focusing on manufacturing process optimization to reduce wastage. Innovation is a key market characteristic
McCain, Inn Foods, ConAgra Foods, Pinnacle Foods Groups, General Mills Inc., Bellisio Foods, Jeanie Marshall Foods Inc., and Goya Foods are some of the major market participants.
Read the full report: http://www.reportlinker.com/p04230352-summary/view-report.html
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
Contact Clare: email@example.com
Intl: +1 339-368-6001
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/us-frozen-food-market-analysis-by-product-and-segment-forecasts-to-2024-300350076.html