The frozen ready meals market share will post an incremental growth of USD 37.98 billion, progressing at a CAGR of 5.78% during the forecast period. The new product launches will offer immense growth opportunities to market vendors. The frozen ready meals market is fragmented, and the vendors are deploying growth strategies such as low-pricing strategies and strengthening the local customer base to compete in the market.
Technavio’s report on “Frozen Ready Meals Market by Product and Geography - Forecast and Analysis 2022-2026” provides a detailed analysis of the prevalent market forces, trends, and challenges likely to impact the market in focus.
The frozen ready meals market is segmented by product (frozen entree, frozen pizza, and other frozen ready meals) and geography (Europe, North America, APAC, South America, and Middle East and Africa).
The growth of the frozen ready meals market size in the frozen entree segment will be significant during the forecast period. Factors such as the increasing consumption of frozen appetizers, such as frozen dumplings, frozen sandwiches, side dishes, and breakfast items will increase the frozen ready meals market growth in APAC. 35% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for frozen-ready meals in APAC.
The new product launches will directly influence the sales of the frozen ready meals market. In addition, the growing popularity of private-label frozen ready meals is one of the major frozen ready meals market trends that will positively impact the market growth. However, factors such as the challenges in the warehousing of frozen foods will hamper the frozen ready meals market growth.
The market is fragmented due to the presence of several players. Some of the major frozen ready meals market vendors are Ajinomoto Co. Inc., Al Kabeer Group ME, AMERICANA GROUP Inc., Boston Market Corp., BRF SA, California Pizza Kitchen Inc., Caulipower LLC, Conagra Brands Inc., General Mills Inc., Kellogg Co., Nestle SA, Nippon Suisan Kaisha Ltd., Nomad Foods Ltd., Orkla ASA, Productos Fernandez SA, Sigma Alimentos SA de CV, Sunbulah Group, The Kraft Heinz Co., Tyson Foods Inc., and Yeppy Foods
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
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Precise market size estimation during the forecast period 2022-2026.
CAGR of the frozen ready meals market forecast during 2022-2026.
Market-level data on units, average selling prices, and values of the frozen ready meals market share.
Prediction on the upcoming trends, drivers, and factors that challenge the growth of the frozen ready meals market.
Frozen ready meals market industry growth across Europe, North America, APAC, South America, and Middle East and Africa.
