Frozen Food Market has been valued $98.79 billion in the year 2019 and it is estimated to reach $224.90 billion by the year 2026, with a CAGR of 18.17% from 2021 to 2026. Frozen foods that has been subjected to rapid freezing and is kept frozen until used. Frozen food retains their vitamins and minerals and there is no change to the carbohydrate, protein or fat content. In some cases, frozen foods have more vitamins and minerals when compared to the fresh foods because fresh foods lose vitamins and minerals over time while freezing preserves nutrients; these are the main factors that have considerably increased the demand for the Frozen Food, thereby driving the hug growth of the Frozen Food market in the upcoming years.
Market Drivers and Restraints:
The main factors that have considerably increased the demand for the Frozen Food is mainly due to the Increase in use of frozen food products by giants such as KFC, McDonald’s, Pizza Hut, Subway, and Frozen Potatoes acts as a key driver for the growth of the market . Frozen food products, including ready meals, vegetables & fruits, potatoes, meat & poultry, seafood, and soup, hotels, caterers, restaurants, and fast food chains are among major users of frozen food products that include frozen vegetables & fruits, potatoes, and non-veg products; utilization of these products by restaurants is expected to drive the growth of this market these are the main factors that have considerably increased the demand for the Frozen Food, thereby driving the hug growth of the Frozen Food market in the upcoming years.
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Report is segmented as:
Frozen Food Market is segmented on the basis of by product, on the basis of by user:
- Frozen Food Market is segmented on the basis of by product into Frozen Ready Meals, Meat & Poultry, Seafood, Vegetables & Fruits, Potatoes, and Soup
- Frozen Food Market is segmented on the basis of by user into Retail and Foodservice Industry
Frozen Food Market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa and rest of world. Europe has the dominant share in the Frozen Food in the year 2019 due to the large spending capabilities of consumers and economic stability are some of the major reasons for the growth , followed by North America ,Europe, Latin America and Middle East & Africa will register a slower increase in the Frozen Food Market
Impact of COVID-19 on Market
The COVID-19 pandemic continues to radically trade that amplify of variety of industries; however, the immediate have an effect on of the outbreak is varied. While some industries will register a visit demand, several others will proceed to remain unscathed and showcase promising increase opportunities. COVID-19 will have an occasional have an effect on the Frozen Food market. Due to the government restrictions like lockdown in many countries has stopped the production of products by the manufacturing companies, In recent days relaxation in restrictions by the government and people are getting vaccinated to stop the spread of corona virus are expecting to raise the Frozen Food market growth
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