Frozen Ready Meal Market: Global Industry Analysis (2012 - 2016) and Opportunity Assessment (2017 - 2026)
LONDON, June 13, 2018 /PRNewswire/ -- Refrigeration plays a pivotal role in the operational workflow of global supply chain for food products and beverages. Freezing and frozen storage has also gained importance for being a key component in the global value chain of food & beverage products. Over the years, growing accessibility to refrigerated storage units has strengthened the global cold chain and created stable grounds for production and sales of frozen ready meals. In addition consumers are also growing inclined towards consumption of frozen ready meals, particularly due to easy preparation, low nutrition loss, and extended product life. From meat, poultry and fish to vegetables and fruits, frozen ready meals are gaining popularity across several consumer marketplaces in the world.
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According to Future Market Insights, the demand for frozen ready meals has witness a considerable traction in the recent past. Key findings from the forecast study reveal that during the forecast period, 2017-2026, a slew of factors are expected to influence the growth of the global frozen ready meals market. During this period, the global frozen ready meals market is assessed to expand at 4.3% CAGR, registering an estimated valuation of over US$ 47 Bn by the end of 2026.
frozen ready meal market
Factors Influencing the Demand for Frozen Ready Meals
Quality and safety of meals are the two primary factors influencing the production of frozen ready meals. Companies partaking the global frozen ready meal competition landscape are employing advanced packaging solutions to cater to the effective distribution of frozen ready meals. The report has also addressed factors such as infrastructure irregularities, lack of proper standardization, and health concerns as the key impediments for the growth of the global frozen ready meals market. The overall demand for frozen ready meals is expected to witness moderate gains in the foreseeable future. Inaccessibility to utilities for thawing these meals is driving the consumers away, while companies are struggling to control the impact of refrigeration on food quality.
Regulatory bodies have employed diverse standards and following them is becoming a challenge for market players. Growing awareness regarding risks of frozen ready meals have been curbing the overall sales, while logistics complexities are also downgrading the expected expansion of the global frozen ready meals market.
High Demand for Chicken Meals to Drive Market Growth through 2026
The report projects that several impediments will curb the global frozen ready meals market from expanding vigorously. However, the demand for frozen ready chicken meals will continue to gain traction and translate into robust revenue growth. By the end of 2026, over one-third of global frozen ready meals market value will be attained by the sales of chicken meals. The report further reveals that food chain services will be the leading end-users of frozen ready meals. In 2017, nearly US$ 12 Bn worth of frozen ready meals will used by food chain services across the globe. The demand for frozen ready meals among modern trade outlets is also poised to gain traction.
The report further reveals that Asia-Pacific excluding Japan (APEJ) region will be at the forefront of global frozen ready meals market expansion through 2026. Nearly half of the overall frozen ready meals produced in the world will be sold in the APEJ region. The report also reveals North America and Europe as lucrative marketplaces for frozen ready meals. Key companies in the global frozen ready meals market are pegged to increase their presence in these regions. These players include, General Mills, Nestle S.A., McCain Foods Ltd., Dr. Oetker GmbH, Daiya Foods Inc., Connies Pizza, Conagra Brands, Inc., Atkins Nutritionals, Inc., California Pizza Kitchen, H.J. Heinz, and FRoSTA AG.
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