The global frozen food market is expected to grow at a CAGR of about 11% during 2020-2024, according to the latest market research report by Technavio. The report provides a detailed analysis on the impact and new opportunities created by the COVID-19 pandemic. The report also helps clients keep up with new product launches in direct & indirect COVID-19 related markets.
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Technavio has announced its latest market research report titled Global Frozen Food Market 2020-2024 (Graphic: Business Wire)
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The market is driven by a significant increase in the expansion of retail stores worldwide. In June 2019, Iceland Foods Ltd, a frozen food supermarket chain, announced its plans to open 50 new retail outlets in the UK. Similarly, in 2018, Aldi, one of the major supermarket chains in Germany, announced its plans to open 2,500 stores in the US by 2022. Such expansion plans are increasing the number of retail stores offering frozen food, which is driving the market growth.
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Frozen Food Market: COVID-19 Impact Analysis on Parent Market
The global packaged foods and meats market is the parent market of the frozen food market. Within its scope, the packaged foods and meats market covers manufacturers or food processing vendors that are involved in food processing to eliminate microorganisms and to extend shelf life. Our report on the frozen food market offers a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as analysis on several large and small vendors active in the market including Ajinomoto Co. Inc., Bonduelle SCA, Conagra Brands Inc., Dr. August Oetker Nahrungsmittel KG, George Weston Ltd., Kerry Group Plc, McCain Foods Ltd., Nestlé SA, Nomad Foods Ltd., and Tyson Foods Inc.
Technavio’s research report on the frozen food market identifies the key drivers, trends, challenges, and the market scenario over the forecast period. The report also analyzes the impact of these factors on the overall packaged foods and meats market.
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Frozen Food Market: Segmentation Analysis
The global frozen food market has been analyzed across various segments to identify market dynamics, developments, and key growth areas during the forecast period. The report also offers insights on high growth regions and opportunities for vendors operating in each sub-segment of the frozen food market. The market is segmented as follows:
Product
- Frozen ready meals
- Frozen meat and poultry
- Frozen fish and seafood
- Frozen fruits and vegetables
- Others
Geography
- APAC
- North America
- Europe
- South America
- MEA
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Vendor Landscape
Technavio’s industry coverage utilizes various sources and tools to gather information about multiple stakeholders and their offerings toward the frozen food market. Sources such as company websites, annual reports, whitepapers, subscription & in-house databases, industry journals, publications, and magazines are used in addition to other relevant sources. The vendor landscape provides a framework to estimate the packaged foods and meats market, while also categorizing the vendors into pure-play, category-focused, or diversified based on their offerings. All market reports provide the key and contributing players across the value chain based on in-house influence index, developed using multiple industry and market parameters.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20201022006118/en/
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