Frozen food involves basic food chemistry under which food is conserved by a freezing process and kept in a freezer before cooking. Frozen food can be of various types such as ready meals, meat & poultry, vegetables & fruits, soup, sea food and others. Frozen meat offers better stock control, overcome the problem of seasonality and offers longer shelf life which allows advanced purchase and longer term storage. Compared to the fresh food, frozen meat contain maximum vitamins and minerals as freezing preserves the products for extended periods without any preservatives and discourages the microbial growth that causes food spoilage. Frozen meat are of various types such as beef, pork, chicken & poultry, mutton, lamb and others.
Competitive Analysis-
This report includes a study of strategies used in the market, mergers and acquisitions in frozen meat, multiple product launch by frozen meat market players. It further includes product portfolios and developments of leading major players which includes
• Associated British Foods Plc. (U.K.) • Pilgrim’s Pride Corporation (U.S.) • Tyson Foods, Inc. (U.S.) • Cargill Incorporated (U.S.) • Marfrig Group. (Brazil) • Kerry Group Plc. (Ireland) • BRF S.A. (Brazil)
The market players have increased their level of investment in research to identify right formulation and to improve product functionality in order to capture lion’s share and create brand recognition in frozen meat market. Most of the companies operating in this market are focusing on expanding its operations across the geographies, augmenting its capabilities and investing in research and development to offer products with better functionality.
Significant Factor driving the growth of the frozen meat market is the increasing demand of high protein food among the consumer. Consumers are inclined to adopt meat to fulfil their health nutrients. Furthermore the development of the food technology is providing the extra space for the frozen food manufacturers. Apart from that, the hectic lifestyles of the people coupled with the changing dietary patterns of the consumer are further propelling the demand of frozen meat market in the upcoming decade. Food service industry is witnessing a healthy growth over the couple of years both in developed and developing economies which in turn offers a lucrative opportunity in the frozen meat market over the forecast period. Generally, food service companies purchase the product in a bulk quantity which is positively influencing the demand of frozen meat. In addition, mounting growth of organized retail industry is also anticipated to be one of the important factor for increasing growth of frozen meat market during the forecast period. Consumers are interested to buy the products from the super markets & hyper markets instead of the normal grocery shop.
By Downstream Analysis-
Among the product type, frozen processed meat segment is anticipated to retain its dominance throughout the forecast period. Also, the segment is projected to register the healthy CAGR of 4.44% during the forecast period. Among the end user, retail customer segment is estimated to account maximum market proportion during the forecast period of 2017-2023. Food service segment is estimated to observe a substantial growth of 4.70% during the review period.
Region Analysis
The global Frozen Meat market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Among these, Europe region is expected to retain its dominance throughout the forecast period. Europe is estimated to reach USD 31.47 Billion by the end of 2023. Asia-pacific will be the fastest growing region in the frozen meat market and high growth in emerging economies such as China, India, Japan and ASEAN countries. Asia Pacific region is estimated to reach USD 18.83 Billion by the end of forecast period of 2023. Latin American countries, offers ample opportunities for expansion to major players. Middle East region is projected to be one of the lucrative place to enhance the business of frozen meat.
Frozen meat manufactures find a massive opportunity in the India, China and Middle East countries. Key players are emphasizing to augment the distribution channel in the untapped market in order to upsurge the customer base. Europe is estimated to retain its dominance throughout the forecast period and to grow at a substantial CAGR of 4.18%. Increasing per capita disposable income coupled with the busy life schedules of the consumer is anticipated to stimulate the sales of the frozen meat in Europe during the review period of 2017-2023.
