Global Frozen Processed Food Market to Report Rise on Account of Rising Trend of Busy Lifestyles during 2015-21.

Lately, the global frozen processed food market has been showing steady growth. According to a market study, published by Transparency Market Research (TMR), a market intelligence and research firm, the global market for frozen processed food stood at US$57.5 bn in 2014. Analysts expect this market to rise at a CAGR of 2.70% during the period from 2015 to 2021 and reach a value of reach US$69.1 bn by the end of 2021.In terms of volume produce, the global frozen processed food market is anticipated to show a relatively better performance, owing to the increasing demand from consumers pushed by time restraints.

The market reported a total production of close to 246 mn tons in 2014 and is poised to expand at a CAGR of 6.30% between 2014 and 2021. By 2021, the market is estimated to reach a production volume of almost 385 mn tons.Frozen processed food is also known as ready-to-serve food in common parlance. As the next generation of these customer-ready food items has begun to pour in, the demand for highly processed microwavable frozen food has increased exponentially. 

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Frozen Processed Poultry Contributes Highest Revenue Share in Global Market
 

Frozen desserts, frozen processed poultry, frozen processed fish/sea food, frozen processed red meat, frozen meat substitutes, and frozen bakery products are the main products available in the global frozen processed food market. In 2014, the frozen processed poultry market registered the highest growth in terms of revenue and was closely followed by the frozen sea food market.

In terms of volume, the frozen processed red meat market reported the highest consumption in 2014 and the market for frozen processed poultry acquired the second position. Both the market segments are likely to retain their position on the volume front. However, analysts project the frozen processed sea food market to surpass the market for processed poultry and occupy the leading position in the next few years.

Apart from this, a major shift in consumer preference regarding frozen desserts has been witnessed in recent times. Nowadays, consumers are preferring low-fat frozen desserts such as frozen yogurt over traditional frozen sweet dishes. The rising awareness pertaining to health is the main driving force behind this growth.

Asia Pacific to Surpass North America owing to Changing Lifestyle
 

The global frozen processed food market is categorized into North America, Europe, Asia Pacific, and the Rest of the World. Among these, the North America market for frozen processed food acquired the largest share in 2014.

Asia Pacific, on the other hand, is showing great progress and is expected to surpass North America in the next few years. The changing lifestyle of consumers, coupled with the increase in the disposable income of consumers in this region, is likely to drive the Asia Pacific market for frozen food significantly.

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Nestle S.A., H.J. Heinz Co., Kraft Foods Group Inc., ConAgra Foods Inc., BRF S.A., Mother Dairy Fruit and Vegetable Pvt. Ltd., General Mills, Unilever plc, Tyson Foods Inc., and Maple Leaf Foods Inc. are the major players functioning in the frozen processed food market.

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