Albany, NY, July 24, 2015 (GLOBE NEWSWIRE) -- Transparency Market Research (TMR) has announced the release of a new market study on the global frozen food market. Analysts have estimated the market to rise at a CAGR of 3.9% during the period from 2013 to 2019 and reach a value of US$293.75 billion by the end of the forecast period. In 2012, the market stood at US$224.74 billion, according to the report.
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The study, titled "Frozen Food Market (Vegetables & Fruits, Potatoes, Ready-to-eat Meals, Meat, Fish/Seafood and Soups) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019", provides an in-depth analysis of the worldwide market for frozen food by assessing the performance of each market segment and the dynamics of every regional market.
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The global frozen food market comprises of frozen fruits and vegetables, frozen ready-to-eat meals, frozen fish/seafood, frozen potatoes, frozen soup, and frozen meat. Among these, the frozen ready-to-eat meals segment has dominated the market in recent years. The wide range of products under this segment is witnessing extensive demand from consumers. Pizza, desserts, entrees, snacks, and others are some of the key products traded in the ready-to-eat meals segment. In 2012, this market occupied around 35% of the overall market. Analysts expect this market to expand at a CAGR at 3.9% over the forecast period. However, the highest development is expected to be reported by the frozen potatoes market, at a CAGR of 4.3% during the forecast period.
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Development in freezing techniques has enabled manufacturers to freeze fresh products such as fruits and vegetables without creating any threat to their textures or nutritional value. On account of this, the market for frozen fruits and vegetables is also expected to post significant growth between 2013 and 2019.
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In 2012, the frozen food market in Europe occupied the leading position, with a share of over 35% in the overall market. In terms of revenue, this regional market is likely to develop at a CAGR of 3.8% during the forecast period. Germany has emerged as the biggest consumer of frozen food, with a share of 15% in the European market.
The frozen food market in Asia Pacific is exhibiting the signs of emerging as a lucrative regional market in the near future. This regional market has captured 24.8% of the overall industry. However, the frozen food market in the Rest of the World is likely to report the highest growth rate over the forecast period on account of the rise of Argentina and Brazil as the new hub of frozen food.
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The global market for frozen food is a highly fragmented market. Only 17% of the overall market is held by the top five market players. However, the concentration of this market is projected to increase in the years to come, with major players acquiring new entrants and small-scale enterprises to expand their business.
Browse Upcoming Market Research Reports:
Iceland Foods Ltd., General Mills Inc., Tyson Foods Inc., Allens Inc., Heinz, Ajinomoto Co. Inc., McCain Foods Canada, Nestle, Maple Leaf Foods Inc., Kraft Foods Group Inc., The Schwan Food Co., ConAgra Foods Inc., Amy's Kitchen Inc., Birds Eye Foods Inc., Unilever Plc., and Ralcorp Frozen Bakery Products Inc. are the major players in the global frozen food market profiled in this report.
The Global Frozen Food Market is Segmented into:
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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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