The frozen food market will register a CAGR of nearly 5% by 2023

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May 07, 2019, 17:17 ET

NEW YORK, May 7, 2019 /PRNewswire/ -- About this market

The expansion of retail stores offering frozen food is one of the key factors expected to trigger the market's growth during the forecast period. Various market players are announcing plans to open supermarkets and add several outlets across the emerging and advanced economies. In addition, there are over 900 new stores being opened in the US, which, eventually, foster the frozen food market growth in the forthcoming years. Analysts have predicted that the frozen food market will register a CAGR of nearly 5% by 2023.

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Market Overview

New product launches

One of the major drivers expected to influence the growth of the global frozen food market is the increasing number of product launches to attract more consumers.

The decline in consumption owing to obesity and other health concerns

Increase in obesity may encourage consumers toward fresh cooked low-calorie food products, instead of processed food products comprising of frozen foods. This will negatively impact the adoption of frozen food during the forecast period.

For the detailed list of factors that will drive and challenge the growth of the frozen food market during 2019-2023, view our report.

Competitive Landscape

The market appears to be highly fragmented with the presence of several market players. Vendors are focusing on offering frozen food using various strategies to achieve a competitive edge in the global market. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.

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