Global Market for Frozen Food To Grow at Exponential CAGR Of 4.21%

Posted by Yogesh Rane on December 7th, 2017

Market Research Future published a cooked research report on global frozen food volume market which is estimated to grow at 4.21% by 2023.

Market Overview

Frozen food involves basic food chemistry under which food is conserved by a freezing process and kept in a freezer before cooking.  Frozen food can be of various types such as ready meals, meat & poultry, vegetables & fruits, soup, sea food and others. Organized foodservice includes chain and licensed standalone players operating across quick service restaurants, full service casual and fine dining restaurants, hotels, bars, lounges, frozen desserts outlets and cafes that majorly relies on frozen food as an ingredient to prepare the final dish.  Thus due to growing demand from various end users,  globally the market for frozen food is estimated to grow at the rate of about 4.21% from 2017 to 2023.  

Market Forecast

The foodservice industry plays a key intermediary role between producers and processors at one end and consumers at the other end. The consolidation and market concentration of foodservice industry creates multitude of opportunities for the market growth of frozen food market. Evolving economic standards and social habits coupled with trend of fast-food consumption has considerably impacted the growth of in-store restaurants, take-away shops, or pub- restaurants.

Today, frozen food is commercially available in great abundance and is far beyond the concept of convenience. Socio-economic factors, demographic trends, changing dietary pattern, industrial players focusing on youth marketing considering the food habits of youth are certain factors supporting the sales of frozen food at the global level. These factors will play a key role in the growth of frozen food market at the CAGR of 4.21% during 2017-2023.

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