The frozen food industry includes establishments manufacturing frozen fruits, juices, vegetables, and frozen specialty foods. This market does not cover meat products. Frozen food market in this report is segmented into frozen fruit juice and vegetable manufacturing, and frozen specialty food manufacturing.
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The global frozen food market has been growing in the past years with a CAGR of almost 3%. The year 2017 recorded high growth in this market with a net market value almost 10% higher than that of 2013, as per TBRC’s in-house consultants.
TBRC’s latest report show the historic and future trends in the market for each year with sourced reasons to support the growth claims.
The report also shows the global frozen food market to grow at a higher CAGR by 2021 as compared to 2017, along with geographies best suited for investments with highest return rate.
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Frozen food manufacturers are using technologies such as individual quick freezing (IQF) to improve yield and quality of frozen foods. The IQF method involves transferring the individual food items on a conveyor belt into a blast freezer that quickly freezes the items. With IQF method, every individual piece of food is frozen separately, as opposed to bulk or block freezing. This method boosts yield by 1.5-3% and results in better quality products with high nutritional value and less wastage. Examples of IQF foods include fruits such as blueberries, strawberries and peaches, and vegetables such as corn, peas and green beans. The global IQF vegetable market is expected to reach $2 billion by 2026, thus indicating significant demand for IQF food products in future.
Companies included in the report are Tyson Foods, Inc., Nestle SA, Conagra Brands, Kraft Heinz Company, General Mills, Inc., McCain Foods, Ajinomoto CoInc., and TableMark.
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