According to the new research study titled “Frozen Food Market to Forecast 2028 – COVID-19 Impact and Global Analysis – by Type, Distribution Channel, and Geography,” the market is expected to grow from US$ 251,155.35 million in 2021 to US$ 373,767.59 million by 2028; it is expected to grow at a CAGR of 5.9% from 2022 to 2028.
Over the past few years, the surge in the consumption of high-quality convenience food has been one of the biggest trends in the food industry. Convenience food, such as frozen snacks, frozen meals, cold cuts, and ready-to-eat products, allows consumers to save time and efforts associated with ingredient shopping, meal preparation and cooking, consumption, and post-meal activities. Due to hectic work schedules, millennials prefer to be efficient with their time rather than spending it on tedious tasks. Thus, they are more likely to spend their money on convenience food. Moreover, the growing number of one or two-person families can be related to the rising demand for ready-to-eat convenience food. Frozen food products have extended shelf-life and are suitable for single-serve. These factors are expected to boost the growth of the frozen food market.
Impact of COVID-19 Pandemic on Frozen Food Market
During the initial phase of the COVID-19 pandemic, the implementation of lockdown restrictions and shutdown of manufacturing units led to a production shortfall, which created a demand and supply gap. These factors hampered the profitability of various small-scale and large-scale frozen food manufacturers. The shutdown of manufacturing plants in leading countries in North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa disrupted the global supply chains, manufacturing activities, delivery schedules, and sales of various essential and nonessential goods. However, as schools and colleges remained closed, children had enough time for breakfast, which also positively impacted the sales of frozen breakfast products, including frozen breakfast cereals, pancakes, pizzas, and cakes. For instance, The Kellogg Company stated that the financial results in the second quarter of 2020 were better than expected due to the increased demand for its breakfast cereals and frozen waffles. Many leading frozen food companies with high inventory levels could cater to the increased demand and propel the frozen food market.
The key players profiled in this study includes
Conagra Brands, Inc.; General Mills Inc.; Pepperidge Farm Incorporated; Bonduelle Group; Mccain; Bellisio Foods, Inc.; Tyson Foods, Inc.; Kellogg’s Company; Nestlé S.A.; and The Kraft Heinz Company.
Sample PDF showcases the content structure and the nature of the information included in the report which presents a qualitative and quantitative analysis.
https://www.theinsightpartners.com/sample/TIPRE00004541/
Covid-19 first began in Wuhan, China, during December 2019, and since then it has spread across the globe. As of November 2020, the US, India, Brazil, Russia, France, Spain, Argentina, Colombia, the UK, Mexico, Peru, and South Africa are some of the worst affected countries in terms of confirmed cases and reported deaths. According to the latest WHO figures, there are ~46,591,622 confirmed cases and 1,201,200 total deaths globally. The coronavirus outbreak has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The global food & beverages industry is one of the major industries that are suffering serious disruptions, such as supply chain breaks, and office shutdowns, resulting from this outbreak. The lockdown of various plants and factories in leading regions, such as North America, Europe, Asia Pacific, South America, and the Middle East, and Africa, affects the global supply chains and negatively impacts the manufacturing, delivery schedules, and sales of various goods. Seafood importing countries and companies are struggling financially, as many businesses have been shut down or facing insecurity. Hence, in March and April, many importers canceled, postponed, or reduced their orders. Transportation is also a major concern as many borders are closed due to the global travel bans imposed by countries in Europe, Asia, and North America. This has also affected business collaborations and partnerships opportunities. All these factors have negatively affected the Frozen Food Market.
The state-of-the-art research on Frozen Food Market, which is a detailed analysis of business space inclusive of the current market trends, competitive background, and size of the market. Encircling one or more parameters among analysis of the product, application potential, and global and regional growth strategies.
Speaking about this research report in particular, it includes:
• Five Types of Segmentations (by Product Type, Power, Application, Distribution Channel, Region)
• Five Major Regions(North America, Europe, Asia Pacific, Middle East &Africa, South & Central America)
• Market Information For 10 Years(2017 & 2018 – Historic Years, 2021 – Base Year and 2020-2028 Forecast Period)
• Key Industry Dynamics including factors that are Driving the Market, Prevailing Deterrent, Potential Opportunities as Well as Future Trends.
• Ten Company Profiles(these are not just Major Players but a Mix of Leading, Emerging Players, Market Disruptors, Niche Market Players, etc.)
• Industry Landscape Analysis
• Analysis of COVID-19 Impact on this market at Global and Regional Level.
A thoroughgoing evaluation of the market restrains included in the report which represents the difference to drivers of the market and gives scope for strategic insights and developments. The research study has amalgamated the growth analysis of different aspects that enhance the market growth scenario. It constitutes key market drivers, restraints and trends that transform the market in either a positive or negative manner.
We are keen to understand what additional information if included will help you in your business endeavor. We also hold the expertise to customize the reports based on any specific countries/regions, segmentations, companies, etc. of your choice. Hence you can share your specific requirements, if any.
Schedule a pre-sale discussion with the author team in a slot that you prefer to address queries on scope of the report, customization, introduction to methodology, assistance on technologies, and market definitions.
https://www.theinsightpartners.com/speak-to-analyst/TIPRE00004541/
The Table of Content for Frozen Food Market research study includes:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Frozen Food Market Landscape
5. Frozen Food Market – Key Market Dynamics
6. Frozen Food Market – Global Market Analysis
7. Frozen Food Market – Revenue And Forecasts to 2028 –Type
8. Frozen Food Market – Revenue And Forecasts to 2028 – Type of Product
9. Frozen Food Market – Revenue And Forecasts to 2028 – Service
10. Frozen Food Market – Revenue And Forecasts to 2028 – Geographical Analysis
11. Impact of Covid-19 Pandemic on Global Frozen Food Market
12. Industry Landscape
13. Frozen Food Market, Key Company Profiles
14. Appendix
15. List of Tables
16. List of Figures
Immediate delivery of our off-the-shelf reports and prebooking of upcoming studies, through flexible and convenient payment methods.
https://www.theinsightpartners.com/buy/TIPRE00004541/
Additionally, in case you are interested in other topic at the moment, please share your exact requirements with us as apart from our off-the-shelf reports, we also provide customized reports that are prepared keeping in view the clients precise requirements. To let you know, on an annual basis, we publish over 450+ reports across 18 distinct industry verticals.
ABOUT US:
The Insight Partners is a one stop industry research provider of actionable solutions. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are specialist in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
Our research model is very simple. We believe in client servicing and delivering best quality to our customers. Through our research content, we are making sure that our customers get value of their money along with better quality data and analysis.
Our research content is majorly focused towards market trends in terms of market sizing, competitive landscaping, company analysis, regional or country analysis etc. We provide detailed break-up of segmentation in terms of geography, technology, product and services etc.; which helps our clients to get a deeper analysis on various research topics.
Contact US:
If you have any queries about this report or would like further information, please contact us:
North America: +1 646 491 9876
Asia-Pacific: +91 20 6727 8686
Email: sales@theinsightpartners.com
