Frozen Food Evolving into Vital Need for Nuclear Families in Emerging Economies

The global frozen food market is sustained almost entirely by rising urbanization in regions that could justifiably be classified as hinterlands not that long ago. The hectic modern lifestyle has all but eliminated the traditional ways of cooking and even many traditional foods. This has led to growing demand for alternate ways of cooking, among which frozen food has gained prominence in recent times.

Read Full Report: http://www.persistencemarketresearch.com/market-research/frozen-food-market.asp

According to Persistence Market Research, the global market for frozen food grew from US$1,11,400 million to more than US$1,22,000 million during 2010-2013. The frozen food market in Europe led the global market during this period, growing at a 2.8% CAGR from 2010 to 2013 to be worth US$44,683 million in 2013. The Asia Pacific market is expected to take over market leadership in the 2014-2020 forecast period, growing at a 6% CAGR.

Frozen food allows working families to have relatively fresh meals with minimal effort, tying in well with their busy lifestyle. Factors responsible for the growth of the global frozen food market are:

  • High Number of Working Women: Traditional gender roles dictated that women stay behind at home and cook elaborate traditional meals. In modern times, individuals of both genders are equally active in the business world, making it difficult for families to have fresh food at every meal. Frozen food fills this void perfectly, allowing women to work while still taking care of family meals.

  • Increasing Number of Nuclear Families: A strong market trend that supplements the previous point is that nuclear families are quickly becoming the norm in Asia Pacific and Latin America, hitherto unexplored regions for the frozen food industry. This will massively help boost demand for frozen food from these regional segments of the global market.

  • Continuing Trend of Urbanization: Urbanization is very much here to stay due to the economic development and GDP growth in countries such as India, China, Japan, Russia, South Africa, Brazil, Argentina, Chile, Mexico, etc. This will ensure long-term success for the global frozen food market.

  • Easy Availability of Seasonal/Ethnic Food: Before the widespread advent of refrigerated food and beverages, it was hard to get ethnic foods owing to the difficulty in shipping fresh food across the globe. Seasonal foods could also not be acquired year-round, since storage and transport of the same was notoriously hard. Due to the availability of frozen food, regional and cultural specialties can now be acquired all over the world with no fuss.

  • Growing Demand for Western Food: Owing to increasing Westernization of Asian and Latin American societies, demand for nontraditional foods such as Western fast food and Western delicacies is rapidly growing, which will support the strong growth trajectory of the global frozen food market in the coming years.

The global frozen food market is highly fragmented, due to the high prominence of local players in all national markets for frozen food. The top four companies in the global frozen food market hold less than 20% of the market, among which Nestle and Heinz are the leaders. Mother Dairy Fruit and Vegetable Pvt. Ltd. in India and BRF SA in Brazil are among the leading regional players and are expected to retain their dominance over their respective locales over the forecast period.

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