The frozen food
market size is anticipated to reach USD 312.3 billion by 2025, growing at a Compound Annual Growth Rate of 5.0 percent during the forecast period. Major factors driving the growth of this sector include the developments in the retail segment, a surge in demand for convenience food and ready to eat food products, and technological advancements in the cold chain market.
However, the increase in preference for fresh food and natural food products over frozen food products acts as a major factor restraining the growth of this market.
The rise in consumer preference towards convenience foods indirectly favors the surge in demand for frozen products since it requires a very less amount of time and effort to cook the frozen food products. Furthermore, the rise in disposable income is also one of the important factors that have hugely influenced the frozen food market growth as it increases the purchasing power of consumers.
Based on the product, the convenient and ready to eat food product segment is expected to dominate the global market, owing to the changing and busy lifestyle of people living across the world.