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Mar. 30, 2022Reino Unido: Ventas del mercado de alimentos congelados superó los US$ 10 mil millones
While the expansion of the frozen food category has cooled off since then, experts are predicting that the segment will continue to expand globally.
According to The Frozen Food Report 2021 from the British Food Federation, the frozen food market in the country grew 4.6% to reach nearly £9 billion (€10.72 billion), adding £2.4 billion (€2.86 billion) in sales since 2005. In the Asia-Pacific region, the segment is expected to continue to grow at a compound annual growth rate of 9.12% through 2030 to reach a revenue of $145.22 billion (€131.61 billion). In the US, the frozen food market is projected to reach $90.47 billion (€81.99 billion) by 2028, growing from $62.39 billion (€56.54 billion) in 2020, according to Verified Market Research.
This continued interest in frozen food presents a significant shift in consumer attitude from only a few years ago. Frozen food is often seen as an economical choice for shoppers, but now, it is also seen as a solution to deliver healthy, convenient, easy-to-prepare meals at home. It also helps that frozen food has allied its image with the growing demand for sustainable options.
Frozen food may offer a solution to aid with the global food waste problem. In Britain, 6.6 million tonnes of food is thrown away annually, and frozen foods help reduce that tonnage, according to the British Food Federation. Similarly, a report from Deloitte found that 45% of US shoppers claimed more of their fresh food is going to waste, and that frozen food presents a viable alternative to store sustenance for longer — in the study, the firm found that 57% of 18 to 34-years-olds think frozen vegetables are just as good or better than fresh alternatives.
Not all regions are experiencing equal growth
According to the market research firm Fortune Business Insights, Europe will dominate the global share of the frozen food market, which is expected to reach $385.04 billion (€348.95 billion) in 2028 from $256.46 billion (€232.42 billion) in 2021. North America will retain its position holding the third-largest market share globally.
However, this growing segment is not without its challenges. In the Asia-Pacific region, limited cold chain infrastructure has imposed limitations on the ability of this segment to expand. However, in a report from Fortune Business Insights, the research firm noted that a rising number of cold chain solutions will continue to aid the expansion of this global growth market. Similar constraints exist in the Middle East, but there is a high potential for this market to attract support and continue to grow thanks to the governments’ continued investment in shoring up the domestic food infrastructure.
Frozen food is set on a continued trajectory for growth. With younger generations favouring this category thanks to its ease of preparation as well as its alignment with sustainability values, this segment will likely continue to draw investment both from consumers as well as manufacturers.
Full report here: https://chilealimentos.com/wp-content/uploads/2022/03/Frozen-Food-Report-2022-Double-Page-Spread.pdf
British Frozen Food/March 2022
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