The Frozen And Convenience Food Market is segmented by Distribution Channel (Offline and Online), Type (Convenience food and Frozen food), and Geography (Europe, North America, APAC, South America, and Middle East and Africa). As per the Global Forecast research report 2024-2028 published by Technavio, the market size is estimated to grow by USD 468.9 billion, at a CAGR of 8.09% during the forecast period. There are several companies that are contributing to the market as per this report. Escalating need for convenience .
The offline distribution channel, comprising supermarkets/hypermarkets, convenience stores, grocery stores, and local merchants, holds a significant market share in the global frozen and convenience food industry. This segment's dominance is attributed to the extensive range of frozen and convenience food offerings, including peas, chips, fish fillets, bread, preserved fruit, nuts, snacks, pizza sausages, and chicken, available at these establishments. Hypermarkets and supermarkets, in particular, are preferred due to their vast selection of brands and stock-keeping units (SKUs) provided at competitive pricing. Key purchasing factors for consumers include convenience, extensive product variety, and brand diversity.
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The Frozen and Convenience Food Market represents a significant growth opportunity for businesses, driven by increasing consumer demand for time-saving solutions and convenience. This sector encompasses ready-to-eat and ready-to-heat meals, frozen vegetables, and baked goods. Market trends include a focus on healthier options, sustainable packaging, and technological advancements to enhance convenience and product quality. Companies that effectively cater to these trends and consumer preferences are poised to capture market share and thrive in this dynamic industry.
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The Frozen Food Market has witnessed significant growth in recent years, particularly in the Convenience Foods sector. Gluten-free ready meals, processed chicken, frozen meat, dinners/entrees, and breakfast meals are popular choices for consumers seeking easy-to-prepare meal options. The hospitality industry, including hotels & resorts and full-service restaurants, is a major consumer of frozen food products due to their longer shelf life and portability. Progressive Grocer reports that international cuisines are driving innovation in the Frozen Food Market, with globalization increasing the demand for diverse meal plans. Online shopping platforms have made it easier for consumers to access a wide range of frozen food products from the comfort of their homes. The Frozen Food Market is influenced by various factors such as trade routes, domestic tariffs, raw materials cost, temperature monitoring market, and retail industry digitalization. The processed food trade is expected to grow due to food safety concerns and health awareness. Domestic brands are competing with international players in the Frozen Food Market, with some offering competitive pricing due to lower production costs. The Temperature Monitoring Market is a crucial aspect of the Frozen Food Market, ensuring food safety and quality. The Convenience Foods Market is expected to continue its growth trajectory, driven by the need for quick and easy meal options. The Frozen Food Market is poised for further expansion, with new product innovations and technological advancements set to disrupt the industry.
The global packaged foods and meats market encompasses vendors engaged in food processing to eliminate microorganisms and extend product shelf life. Technavio estimates this market's size based on the consolidated revenue of participating manufacturers. Equipment providers are excluded, as are producers of packaged beverages, including alcoholic and non-alcoholic varieties. Market expansion will be fueled by the health benefits linked to minimally processed foods, such as vegetables, which are rich in essential nutrients including potassium, dietary fiber, folate (folic acid), vitamin A, and vitamin C. - The Frozen And Convenience Food Market is experiencing significant growth, fueled by the . Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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