Frozen Processed Foods Market Driven by Changing Consumer Perceptions about Frozen Processed Food Items

The changing lifestyles of the global population marked with busy schedules are driving the consumption of frozen processed food worldwide. With less time to cook elaborate and nutritious meals, an increasingly high number of consumers are opting for convenient meal options. This trend is especially making a pronounced impact on the revenues of the frozen processed food market in countries such as India, the U.S., China, and the Philippines.

Leading manufacturers in the global frozen processed food market are shifting their focus from processed to organic foods in order to align with the changing consumer perceptions of health, finds Transparency Market Research (TMR) in a new report. To do this, they are continuously striving to develop innovative products that satisfy the needs of consumers opting for high protein, gluten-free diet, with simple ingredients.

The key players in the market are Stouffer’s, McCain, Schneider, and DiGiorno. These four players collectively accounted for 27.6% of the global frozen processed food market in 2014. Overall, the new few years will see companies concentrating on preservative-free food and products with no synthetic flavors, TMR predicts

The changing consumer perceptions about frozen processed food items from being convenient solutions to being healthy dietary options have accelerated the demand for the global frozen processed food items. The market is also benefitting from ongoing product innovations and the strong distribution networks established by retail chains. Introduction of a wide range of healthy, natural, organic, and food items with less or no preservatives and additives is also boosting the demand frozen processed food items.

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The lack of time to cook elaborate meals and increasing number of working women have also made a significant contribution to the revenues of the global frozen processed food. The report also indicates that the rising disposable incomes and increasing number of households that own refrigerators especially in the emerging economies of China and India are also expected to propel this market in the forecast period.

According to the research report, the opportunity in the global frozen processed food market is expected to reach US$69.11 bn by 2021 as against US$57.50 bn in 2014. During the report’s forecast period of 2015 to 2021, the global market is expected to rise at a CAGR of 2.7% in terms of revenue. The demand for frozen processed poultry food items is expected to be highest, as the revenue of this segment is projected to reach US$9.91 bn by 2021. North America will be the key regional segment in the overall market and is expected to generate revenue worth US$23.60 bn by the end of 2021, exhibiting a CAGR of 0.9% from 2015 to 2021.

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