ShareThe global frozen food market
Global frozen food market grew from USD 111,400.0 million in 2010 to USD 122,084.6 million in 2013 at a Compound annual growth rate (CAGR) of 3.1% in value terms.
Global frozen food market grew from USD 111,400.0 million in 2010 to USD 122,084.6 million in 2013 at a Compound annual growth rate (CAGR) of 3.1% in value terms and is expected to grow at a CAGR of 3.6% from 2014 to 2020, to reach an estimated value of USD 156.4 billion in 2020.
Europe has the largest market share for frozen food, followed by North America and Asia Pacific. In Asia Pacific, economic developments paired with increasing urbanization and disposable income are some factors driving the frozen food market in the Asia - Pacific region. Owing to these factors, Asia Pacific is expected to witness highest growth in the forecasted period.
Concerning regional segments, the European frozen food market (largest market in 2 013) increased by 2.8% CAGR during 2010 - 2013 to reach USD 44,683.0 million in 2013. The Asia - Pacific frozen food market is expected to show highest CAGR growth of 6.0% during 2014 - 2020.
Concerning product segments, the frozen ready meals market ( the largest market in 2013) increased by 3.3% CAGR during 2010 - 2013 to reach USD 29,361.3 million in 2013 in value terms. In terms of volume, the frozen ready meals market increased by 2.5% CAGR during 2010 - 2013 to reach 6,205.2 million kg in 2013. The global frozen food market is highly fragmented, with the top four companies holding 19% market share. Nestle and H.J. Heinz Company is some of the major companies.
Source: Persistence Market Research
Europe has the largest market share for frozen food, followed by North America and Asia Pacific. In Asia Pacific, economic developments paired with increasing urbanization and disposable income are some factors driving the frozen food market in the Asia - Pacific region. Owing to these factors, Asia Pacific is expected to witness highest growth in the forecasted period.
Concerning regional segments, the European frozen food market (largest market in 2 013) increased by 2.8% CAGR during 2010 - 2013 to reach USD 44,683.0 million in 2013. The Asia - Pacific frozen food market is expected to show highest CAGR growth of 6.0% during 2014 - 2020.
Concerning product segments, the frozen ready meals market ( the largest market in 2013) increased by 3.3% CAGR during 2010 - 2013 to reach USD 29,361.3 million in 2013 in value terms. In terms of volume, the frozen ready meals market increased by 2.5% CAGR during 2010 - 2013 to reach 6,205.2 million kg in 2013. The global frozen food market is highly fragmented, with the top four companies holding 19% market share. Nestle and H.J. Heinz Company is some of the major companies.
Source: Persistence Market Research