Why is Frozen Food a Buzz all around the World?

The lives of people are becoming increasingly hectic, leaving minimum or no time for food preparations. Yet, as people are becoming increasingly health conscious, their inclination toward ready to eat & easy to prepare food is escalating rapidly to attain nutritional value & cater to the body's requirements throughout the day. It is also where the demand for frozen food products is swiftly gaining popularity, particularly among the working population, throughout the world. 

Increasing urbanization, improving economic rising conditions & growing disposable income, along with the swift expansion of the food & beverage industry, are among the prominent aspects stimulating the demand for ready-to-eat & convenience food products. Moreover, with the easy availability of different food in frozen form, the popularity & demand are accelerating rapidly. A recent research report published by MarkNtel Advisors reveals that the Global Frozen Food Market is set to register a CAGR of around 4.8% during 2022-27. 

Key Aspects Driving Consumer Interest

With advancing technology and its integration into the packaging, storing, and distribution industries for foreign food, several new companies have emerged in this industry offering a variety of frozen food products for the consumers and contributing to the overall industry expansion. Such factors are also elevating the demand for frozen bakery, snacks, meat, & seafood, among others. 

As the demand for frozen food is rising throughout the world, the industry is becoming one of the fastest-growing sectors, backed by prominent benefits like easy storage, longer shelf life, ready-to-eat & minimal preparations, among others. While some people might question the freshness of the product, frozen food is stored & packaged with safety and does not ensure contamination, allowing the user to attain fresh food for the longest time. 

Moreover, the easy availability of an extensive variety of frozen products across distribution channels like convenience stores, supermarkets/hypermarkets, and online mediums are also widening the consumer base for these food products and positively influencing the overall industry. 

What are the Leading Manufacturers up to?

Since the demand & popularity of frozen products are magnifying rapidly, more and more companies are introducing new marketing strategies to attain a dominant share in the industry and build a robust place. It, in turn, is demonstrating several recent developments made by different players, like:

• In June 2018, Nestle introduced a new line of nutritious frozen meal segments, Wildspace, using reusable & recyclable containers in November. The leader also launched its meat-free brand, Garden Gourmet, in May 2018 to expand frozen ready meals across the UK.
• The same year in October, another leader, Conagra, procured Pinnacle Foods Inc. (US) and took over its frozen meals, snacks, & sweet delights segments.
• Leading player Lantmännen Unibake inaugurated a new production facility for frozen food in Nowa Sól, Poland, in the same year. 

Some Recent Trends in the Industry

People are always keeping up with the latest trends and rapidly adopt new habits in their day-to-day life, which, in some ways, surely influence different industries. Just like that, the frozen food industry is no exception and has several ongoing trends, like: 

• As the number of people adopts vegan food habits to bring environmental sustainability & animal welfare, the demand for frozen foods like fruits & vegetables is escalating worldwide and playing a prominent role in augmenting the industry growth. 
• On the other hand, improving economic conditions have truly paved the way for tourism and brought the world closer to food offerings. Such factors are also upsurging the demand for frozen food, especially across food chains like cafes, restaurants, & hotels, among others. 

So, what’s next?

By far, it is clear that the adoption, dependency, popularity, and demand for frozen food are rising substantially. What adds up is the growing competition among prominent companies and their urge to attain a dominant position in the industry. As a result, the introduction of the endless variety of frozen food products is emerging and is in wide adoption across different end-user industries. Hence, all the aforementioned factors hint toward an opportunistic future for the frozen food industry, where the overall market growth is set to be substantial globally in the coming years. Thanks to the advent of new technologies for the packaging, storage, and distribution of these products, i.e., attracting new entrants in the market, which, in turn, would create new directions for the frozen food industry in the years ahead.