Frozen foods are the deep frozen foods that is stored and can be used for a long period of time. Some of the prominent frozen food products include fruits & vegetables, frozen ready-to-eat meals, meat & poultry, soups, sea food, among similar others. Frozen food market is demanded by retail customers as well as business clients. Retail customers consist of individuals & households users whereas business customers comprises hotel chains, fast food outlets, catering agencies among many others. There is an increasing market demand for cooked along with semi-cooked ready-to-eat food, soups & meat by retail end-users.
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While business customers across the globe demand frozen meat & pizza crust, sea food, bread & frozen dough, vegetables & potatoes as main ingredients for the food they serve to the end customers. In terms of geography, Europe forms the largest market, followed by North American region.
The market demand for frozen food market is driven by adoption of frozen foods in the developing economies such as India, China, among other Asian countries. Rising share of disposable income along with changing food habits contribute to the market growth in these regions. Furthermore, rapidly burgeoning number of massive retail chains such as supermarkets & hypermarkets has fueled the demand of frozen food across developing Asian countries. The frozen food market in developed economies is expected to grow at a moderate pace, since consumers increasingly prefer healthy frozen foods.
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Key market players operating in this market have adopted acquisition and new product development as dominant strategies to strengthen their positions in the market. Aryzta is one of the largest suppliers of frozen bakery in Europe & North America, whereas Nestle leads the market in terms of frozen pizza segment. Citing a recent report added by Big Market Research titled “World Frozen Food Market - Opportunities and Forecasts, 2014 – 2020”, the market would grow at 4.1% CAGR during the forecast period 2015 2020.
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