Frozen Food Market by Product and Geography - Forecast and Analysis 2020-2024

 

Frozen Food Market will register a CAGR of % during 2020-2024. The market’s growth momentum will Accelerate.

demand of vegan frozen food will be one of the major factors driving the growth of this market. Additionally, key Frozen Food Market trends such as the technological innovations will also influence market growth during the forecast period.

Frozen Food Market Size

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During the forecast period, the Frozen Food Market size will grow by USD 64.69 bn.

Frozen Food Market : Vendors

The market is fragmented and owing to the growth opportunities, the level of competition among the companies in this market space will intensify further. are some of the major companies in the Frozen Food Market. Though the forecast period offers opportunities for vendors to increase their market share, factors such as the  will also challenge the growth of the companies.

Ajinomoto Co. Inc. | Bonduelle SCA | Conagra Brands Inc. | Dr. August Oetker Nahrungsmittel KG | George Weston Ltd. | Kerry Group Plc | McCain Foods Ltd. | Nestlé SA | Nomad Foods Ltd. | Tyson Foods Inc..list

are some of the companies covered in Technavio’s Frozen Food Market report for 2020-2024.

Frozen Food Market : Region-level Analysis

The report identifies region-level market dynamics, developments, and key markets. The regional level analysis also identifies the market share, growth momentum, and key leading countries in the Frozen Food Market.

The North America will account for the largest Frozen Food Market share and during 2020-2024, the region will contribute to 33% of the market’s growth.

In addition to regions and the key companies involved, Technavio’s Frozen Food Market report also analyzes the market by Frozen ready meals | Frozen meat and poultry | Frozen fish and seafood | Frozen fruits and vegetables | Others | Europe | North America | APAC | South America | MEA.comma

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Global Frozen Food Market 2020-2024 | Evolving Opportunities with Ajinomoto Co. Inc. and Bonduelle SCA

The frozen food market is poised to grow by USD 64.69 billion during 2020-2024, progressing at a CAGR of over 5% during the forecast period.

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The market is driven by the expansion of retail stores offering frozen food. In addition, the growing popularity of private label frozen foods is anticipated to boost the growth of the frozen food market.

Retail stores including supermarkets, hypermarkets, independent retailers, and convenience stores supply a variety of both meat-based frozen foods and plant-based food products and plant-based dairy alternatives. The purchase of these food items is increasing due to the expansion of retail stores along with the increase in the number of product launches to attract more consumers. For instance, in February 2019, McCain Foods launched its line of frozen potato product Lighter Home Chips. In June 2019, Iceland Foods Ltd, a frozen food supermarket chain, announced its plans to open 50 new retail outlets in the UK. Thus, the expansion of retail stores offering frozen food is expected to drive market growth during the forecast period.

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Major Five Frozen Food Market Companies:

Ajinomoto Co. Inc.

Ajinomoto Co. Inc. operates the business under various segments such as Japan Food Products, International Food Products, Life Support, and Healthcare and other business. The company offers frozen foods through the Japan Food Products and International Food Products segments.

Bonduelle SCA

Bonduelle SCA offers products through the following business units: Canned, Frozen, and Fresh processed. The company offers frozen food products through its Canned and Frozen food segments.

Conagra Brands Inc.

Conagra Brands Inc. operates under various business segments, namely Grocery & Snacks, Refrigerated & Frozen, International, Foodservice, and Pinnacle Foods. The company offers various frozen food products in the US and international markets through three of its segments which includes Pinnacle Foods, Refrigerated & Frozen, and International.

Dr. August Oetker Nahrungsmittel KG

Dr. August Oetker Nahrungsmittel KG offers products through the following business segments: Food, Beer and Nonalcoholic Beverages, Sparkling wine, Wine & Spirits, and Other interests. The company manufactures and markets frozen foods through the Food segment.

George Weston Ltd.

George Weston Ltd. offers products through the following business segments: Weston Foods, Loblaw, and Choice Properties. The company offers frozen food through the bakery segment named Weston Foods.