In a recent research report by Maximize Market Research, the Global Frozen Ready Meals Market is expected to surpass US $ 24.64 billion by the year 2027, from US $ 17.19 billion in 2020.
The Global Frozen Ready Meals Market Trends:
Despite a huge decline in the sales of products during the initial phase of pandemic spread and lockdown restrictions all over the region, the market is observed to pick up a quick pace for registering a CAGR of almost more than 5.28 %, during the tenure of 2021 – 2027.
Due to rising disposable income levels around the world, global demand for frozen ready meals has expanded dramatically in recent years. Manufacturers are concentrating their efforts on introducing new goods and promoting the benefits of frozen ready meals through promotional activities such as enhancing television advertising for a variety of items. Certain corporations are changing their product lines away from the traditional family pack style and toward smaller portion sizes. The key companies are dedicated to supplying consumers with safe, healthful, high-quality food items, as well as proper handling and storage of frozen meals during distribution, all of which are necessary for sustaining measurability. On the other hand, the FDA’s strict food freezing regulations may obstruct the worldwide frozen meal market growth.
On the basis of type, the Global Frozen Ready Meals Market is further sub-segmented into Vegetarian frozen ready meals and Non-Vegetarian frozen ready meals. Among these, the vegetarian frozen ready meals segment expected to hold the largest market share of XX% with a CAGR of XX% during the forecast period (2021-2027). One of the primary aspects driving the frozen ready meals market growth is the growing consumer preference for vegan frozen food. The demand for plant-based dairy replacements and food products has surged as people become more aware of the health benefits of vegan cuisine. Furthermore, demand for meat alternatives has surged in countries such as the United Kingdom and the United States. This encourages suppliers to develop new frozen vegan items, such as tofu and wheat-based protein products, as healthier alternatives. Frozen food items such as vegan frozen burgers, fillets, and veggie balls are being introduced by companies.
The report has covered the market trends from 2015 to forecast the market through 2027. 2019 is considered a base year however 2020’s numbers are on real output of the companies in the market. Special attention is given to 2020 and effect of lockdown on the demand and supply, and also the impact of lockdown for next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.
The report published by Maximize encompasses the market dynamics, which could affect the market growth of Frozen Ready Meals in the region, the Value – Chain analysis, and the PORTER’s analysis for the Frozen Ready Meals market at a global level.
The study is consolidated on the basis of segments and further into sub-segments By Distribution Channel (Retail stores, Specialty store, Department store, Super market, Hypermarket, E commerce), Ingredients (High Intensity Sweeteners, Flavourant, Natural Color, Natural Flavors, Fatty acids), Moisture Content (High Moisture Content, Medium Moisture Content, Low Moisture Content), Type (Vegetarian frozen ready meals and Non-Vegetarian frozen ready meals).
Lastly, the market research report provides a regional comparison and a complete country level analysis for the latest trends, along with the major key players– Nestlé, Connie’s Pizza, The Kraft Heinz Company., McCain Foods Limited, Unilever., 2sfg, Maple Leaf Foods, Hormel Foods Corporation, ADVANCED FRESH CONCEPTS FRANCHISE CORP, CSC Brand L.P., Fleury Michon, Nomad Foods, Tyson Foods, Inc., Sigma Alimentos, ASAHI FORGE CORPORATION, General Mills Inc., Dr. August Oetker Nahrungsmittel KG, Daiya Foods Inc, Conagra Foodservice, Inc., Atkins, FRoSTA AG, and Others.
You can browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “Global Frozen Ready Meals Market.”
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