Convenience and Comfort Offered by Frozen Foods Allure Busy Consumers; Global Frozen Food Market Banks on High Demand for Ready-to-eat Foods

2024-10-31 10:49:33 Lifestyle

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There is currently a horde of food products that belong in the global frozen food market. So much has changed over the past two decades that we now have foods that last for years longer than their actual shelf life, as long as they are frozen in the right condition.

From a statistical perspective, the global frozen food market is exhibiting a CAGR of 3.90% between 2013 and 2019. The market was valued at US$224.7 bn in 2012. Owing to the major factors of growth that are influencing this market currently, it is expected to reach US$293.7 bn before the end of 2019. This market growth will benefit the top players in the global frozen food market: General Mills, Inc., Ajinomoto Co., Inc., Heinz, Maple Leaf Foods, Inc., Nestle, Kraft Foods Group Inc., ConAgra Foods Inc., The Schwan Food Company, Amy?s Kitchen Inc., Unilever PLC, Birds Eye Foods Inc., and Ralcorp Frozen Bakery Products Inc.

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Frozen Food Fumbles in Scandals but Recovers

It has not been all sunny weather for the global frozen food market with all the consumer complaints and major scandals that have enveloped the food and beverage industry in recent years. One of the most common issues with frozen foods is their overall appeal. Previously, frozen foods were considered rather bland in taste and appearance in comparison to freshly cooked foods. But that is changing fast, as modern freezing and heating techniques can allow long-term storage of perishable foods without compromising on taste and appeal.

Perhaps one of the biggest food scandals recently was the use of horsemeat in lieu of beef and other meats. The latest product to lose its spotlight and sales is the highly popular Findus Crispy Pancakes. The company has decided to ditch its iconic product after nearly 50 years of successful business. Young?s had previously taken its frozen lasagna off the shelves around the peak of the horsemeat scandal in the U.K. in 2013, but has plans to reintroduce a similar product into the market soon. Findus is expected to go through similar transformations.

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Although authorities are now showing a much higher level of attention to food crimes, consumers are still theoretically at risk, as it is impossible to police every food item that ends up on store shelves. There is the additional risk of major brands unwittingly using less than acceptable supply chains that provide sub-standard food products and raw materials. Frozen food is now listed as one of the most common food products that can suffer from adulteration, including chorizo, guacamole, and infant formula.

Lifestyle Changes Boost Global Frozen Food Market

Despite the multiple issues related to the manufacture, supply, and distribution of frozen foods, this market is growing positively on a global scale. This is owed to the high number of working-class individuals that have little to no time to prepare fresh food for consumption. Conventionally, the women of the household would cook for the house. With social changes that allow women to work as equals to men, the number of people who opt for fresh ingredients to cook food has gone down considerably.

Europe held the largest share in the global frozen food market in 2012 and is expected to maintain a relatively high growth rate in the near future. On the other hand, the rapidly developing Asia Pacific frozen food market is expected to be the dominant force in the global perspective.