FROZEN PROCESSED FOOD MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)
Frozen food processing is the chemical or mechanical process of altering cooked food or ingredients and freezing it at recommended temperatures. The process food combines raw food ingredients to produce convenience marketable food products. They are easy to prepare as compared to fresh food and hence are gaining popularity among the population.
Market Dynamics
Consumer demand for convenience foods has grown substantially over the past decades. Consumers are more inclined toward convenience food products, such as baked goods, confectioneries, beverages, and other ready meals, due to their ease of preparation and consumption. The demand for ready-to-eat food products is increasing rapidly due to the drastic shift in dietary habits among consumers. Additionally, the increasing urbanization is likely to boost the growth of this trend.
More than half of the world's population lives in urban areas, and virtually all the countries worldwide are becoming increasingly urbanized. According to the United Nations World Urbanization Report in 2019, the urban population of the world has grown rapidly from 4.28 Billion in 2019 to 4.46 Billion in 2021, which indicates that almost 55% of the world’s population lives in urban areas, a proportion that is expected to increase to 68% by 2050. As a result, urban consumers are gaining exposure to a much wider choice and better food availability than those living in rural areas. Moreover, this urbanization trend contributes significantly toward improved living standards and rising incomes, which influences the affordability of frozen food products to a greater extent.
Furthermore, with rising urbanization, the demand for convenience food products is increasing rapidly due to the changing lifestyles, the rising number of nuclear families, and a significant increase in faced-paced work environments. These factors accelerate the growth of the frozen food products market.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section
Detailed Segmentation:
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