Global Frozen Ready Meal Market to Attain Valuation of US$ 47 Bn by 2026
The global frozen ready meal is forecasted to behold healthy growth in terms of valuation during the forecast period (2017 to 2026), according to a new market study by XploreMR. The report attributes the growth of the market to increasing preference among consumers for convenience and ready-to-eat food products, which has in turn propelled the demand for frozen ready meals. As the convenience food trend continues to sprout, the market players in frozen ready meals are expected to gain lucrative revenue opportunities in the years to come.
A wide variety of frozen food products, ranging from frozen desserts to appetizers and meals, the frozen food section in F&B has metamorphosed into a one-stop solution for consumers looking for takeaway food. Although frozen foods are not the first choice for consumers due to short shelf life, the emergence of novel packaging technologies have aided in extending the shelf life of these products, thereby positively influencing the consumers' perception, On the back of these factors, the global frozen ready meals market will expand at a steady CAGR of 4.3% and attain a valuation of US$ 47 Bn by the end of the assessment period.
Changing Lifestyles in APEJ Bestow Lucrative Revenue Opportunities
Refrigeration plays a pivotal role in the operational workflow of global supply chain for food products and beverages. Freezing and frozen storage has also gained importance for being a key component in the global value chain of food & beverage products. Over the years, growing accessibility to refrigerated storage units has strengthened the global cold chain and created stable grounds for production and sales of frozen ready meals. In addition consumers are also growing inclined towards consumption of frozen ready meals, particularly due to easy preparation, low nutrition loss, and extended product life. From meat, poultry and fish to vegetables and fruits, frozen ready meals are gaining popularity across several consumer marketplaces in the world.
According to Market Insights, the demand for frozen ready meals has witness a considerable traction in the recent past. Key findings from the forecast study reveal that during the forecast period, 2017-2026, a slew of factors are expected to influence the growth of the global frozen ready meals market. During this period, the global frozen ready meals market is assessed to expand at 4.3% CAGR, registering an estimated valuation of over US$ 47 Bn by the end of 2026.
Factors Influencing the Demand for Frozen Ready Meals
Quality and safety of meals are the two primary factors influencing the production of frozen ready meals. Companies partaking the global frozen ready meal competition landscape are employing advanced packaging solutions to cater to the effective distribution of frozen ready meals. The report has also addressed factors such as infrastructure irregularities, lack of proper standardization, and health concerns as the key impediments for the growth of the global frozen ready meals market. The overall demand for frozen ready meals is expected to witness moderate gains in the foreseeable future. Inaccessibility to utilities for thawing these meals is driving the consumers away, while companies are struggling to control the impact of refrigeration on food quality.
Regulatory bodies have employed diverse standards and following them is becoming a challenge for market players. Growing awareness regarding risks of frozen ready meals have been curbing the overall sales, while logistics complexities are also downgrading the expected expansion of the global frozen ready meals market.
Frozen Ready Meal Market: Global Industry Analysis (2012 - 2016) and Opportunity Assessment (2017 - 2026)Buy Now
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