The market is valued at $195 billion in 2017 because of the increasing demand for quick frozen meals, change in eating habits of consumers, rise in urbanization, growing number of working women, and advances in freezing technologies.
The frozen food market in The Business Research Company’s report is segmented into frozen specialty food manufacturing; and frozen fruit, juice, & vegetable manufacturing. While the first segment accounts for nearly four-fifth of the market share, the remaining share is attributed to the other segments.
The USA was the largest country in the frozen food market in 2017, accounting for nearly one-fifth of the market share. This was mainly due to a large population with high disposable income leading to high demand for frozen fruits, vegetables and other specialty frozen food products in the country. The USA was followed by China and Germany as the next largest countries in the market.
Tyson Foods was the largest competitor in the frozen food market, followed by Nestle and Conagra Brands. Tyson Foods, Inc. is a global food company with leading brands such as Tyson, Jimmy Dean, Hillshire Farm, Sara Lee, Ball Park, Wright, and State Fair. The company offers prepared foods and processed chicken, beef and pork. It is headquartered in Springdale, United States and employs around 114,000 people.
About The Business Research Company.
The Business Research Company is a Business Intelligence Company which excels in company, market and consumer research. It has offices in the UK, the US and India and a network of trained researchers in 15 countries globally.