Frozen ready meals or frozen food meals are basically cold freeze for the purpose to prevent contamination, spoilage, and to increase their shelf life. As frozen processed foods are easier to prepare than fresh foods, they are gaining popularity among the working population. As precooked or ready meals save a lot of time and effort compared to preparing meals from scratch.
The changing lifestyles of the global population marked with busy work schedules are spurring the demand for global frozen ready meals market across the globe. The benefits associated with the ready meals such as less time required for cooking and nutritious meals, a progressively high number of consumers are electing for convenient meal options. This trend is particularly making a noticeable impact on the revenues of the frozen ready meals market in several emerging countries such as the United States, India, and China. Rapidly growing retail stores and upsurge in the income level of the middle-class population, the market has shown remunerative business opportunities since the past few years.
In addition, the rising per capita income of consumers and the increasing middle-class population are also contributing to the growth of this market. The blooming packaging industry and continuously changing consumer purchasing behavior along with massive demand for value-added food items will express the market growth over the years. However, the lack of refrigeration facilities in small retail stores and low penetration of large retail formats are the major challenges for the frozen processed food market in emerging economies. Furthermore, rapid technological advancement in the processing of frozen food and the increasing focus of manufacturers on introducing nutritious and healthier products will offer lucrative opportunities for this market in the forecast period.
The global frozen ready meals market is divided based on type, distribution channel, and region. Based on the type, the global market is split into chicken meals, frozen pizza, beef meals, and vegetarian meals. The distribution channel segment consists of independent retailers, supermarkets, online shops, and others.
Geographically, the Europe region is expected to hold the largest share in the global frozen ready meals market during the forecast period. Factors such as the increasing consumer preference in adoption of healthy & functional food, an increase in consumer base, and growing investment by the manufacturers for new product development are pouring the market growth in this region. On the other hand, Asia Pacific region holds the second-largest position in the market and is anticipated to account for a moderate share over the forecast period. This is attributed to the increase in the trend of ready-to-eat food amongst the population due to hectic work schedules and changing eating habits.
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Kerry Group, Nichirei Foods Inc., The Kellogg Company, Nestle S.A., Unilever plc, Kraft Foods Group Inc., Fleury Michon, Conagra Brands Inc., Ajinomoto Co. Inc., and McCain Foods Limited. are some of the major players that are functioning in the global frozen ready meals market.
In April 2020, Nestle S.A. had announced a launch of a new brand of cuisine. With frozen bowls, egg bites, and pizza, consumers can satisfy their needs for high-protein, low-carb, meatless, and gluten-free foods.
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