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GlobalFrozen Foods Market – Overview
Frozen food implies to those food products that are kept at acertain temperature with all the moisture in them stored in a solid form.Growing number of working professionals, busier lifestyles, changing foodconsumption patterns, availability of large variety of frozen food products indifferent food categories, and changing purchasing patterns are some of thefactors that has helped in directing the growth of the global market in theseyears. Moreover, with the growing millennial population, there is an emergingtrend of consuming ready to eat and convenient food products. This too hashelped in putting great lime light over the globalfrozen foods market.
The global market for frozen foods has a highly fragmentedvendor landscape. The top five companies in the global market account for ameagre share in the global market. It is expected that in the coming few yearsof the forecast period the leading companies will continue to develop with thehelp of technological advancements and developments, strategical acquisitions,mergers, and other aggressive marketing tactics. The companies are expected todevelop even more because of their ability to bypass the wholesalers and get intouch directly with the consumers via retailers.
The domestic players in the key regional segment are expected topose a key challenge in front of established and international players who aretrying to gain entry in those regional markets. Some of the key names in theglobal frozen foods market are H J Heinz, Nestle, ConAgra, McCains, and TheSchwan Food Company among others.
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There are several factors, which are helping to drive thedevelopment of the global frozen foods market. One of the key driving factorfor the growth of the global market has been the evolving customer tastes andpreferences as a response to changing lifestyles. Because of the hectic andbusier work schedules, people are increasingly giving preference to frozen foodproducts. The growing popularity of ready to eat food products is also keyfactor driving the growth of the global frozen foods market. Urban anddeveloped regional segments in particular have played a key role inpopularizing this trend.
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Another important driving factor for the growth of the globalfrozen foods market is the increasing adoption of safety and regulatory measureadopted by the leading manufacturers. With improving per capita income andchanging food habits of people across the globe, the demand for frozen foodsmarket is expected to increase even more in the coming years of the forecastperiod.
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GlobalFrozen Foods Market – Geographical Outlook
The global market for frozen foods has five major regionalsegments. These regional segments are Europe, Asia Pacific, North America, Restof the World. Currently, the global market is being dominated the regionalsegment of Europe and is expected to continue its domination over the course ofthe given period of forecast. In the region, Germany has emerged to be thelargest consumer of frozen foods and accounted for a hefty share of the overallregional market.
On the other hand, the regional segment of Asia Pacific is projectedto witness a highly promising rate of growth in the coming years of theforecast period. The market is expected to account for a considerable chunk ofthe market in the near future. Emerging economies such as China and India areexpected to be the chief contributors for the overall development of the AsiaPacific market for frozen foods.
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