Albany - New York, Oct. 7, 2015 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research "Frozen Processed Food Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021," the frozen processed food market, in terms of revenue was valued at US$57.5 bn in 2014, which is expected to reach US$69.1 bn by 2021, growing at a CAGR of 2.7% from 2015 to 2021. However, in terms of volume, the global frozen processed food market was valued at 245980.4 thousand tons in 2014 which is expected to increase to 384881.1 thousand tons by 2021 growing at a CAGR 6.3% over the forecast period.
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Consumer acceptance towards the consumption of frozen processed food items as healthy alternative to ready to eat items is the primary factor fuelling the demand for the global frozen processed food market. Low calorie and low fat frozen processed food products are gaining popularity among the consumers thereby fuelling the demand for global frozen processed food market.
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The meat adulteration incident or the horse meat incident in 2013 is inhibiting the growth of the frozen processed food market especially in Europe. In the same year, many beef samples from various supermarkets in Europe were tested and a substantial percentage of horse meat was found in them. Some of the beef samples showed 100% content of horse meat. This factor has led to the change in the consumer perception about frozen processed meat products being unhealthy, thereby heavily inhibiting the growth of the global frozen processed food market.
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North America held the largest market share in terms of revenue in the global frozen processed food market in 2014, followed by Asia Pacific. However, Asia Pacific is expected to be the market leader by 2021. ConAgra Foods Inc., Unilever plc, Nestle S.A., General Mills., Tyson Foods Inc., Kraft Foods Group Inc. are some of the major players operating in the global frozen processed food market.
Other Reports Published by Transparency Market Research:
- Frozen Food Market: http://www.transparencymarketresearch.com/global-frozen-foods-market.html
- Organic Food & Organic Beverages Market: http://www.transparencymarketresearch.com/organic-food-beverages-market.html
- China Baby Food & Pediatric Nutrition Market: http://www.transparencymarketresearch.com/china-baby-food-market.html
The report covers frozen processed food market and provides estimates in terms of revenue (USD billion) and volume (thousand tons) from 2015 to 2021. Market estimates on the basis of product type and application type have also been provided for each region.
Browse Upcoming Market Research Reports:
- Frozen Bakery Additives Market: http://www.transparencymarketresearch.com/frozen-bakery-additives-market.html
- Global Dairy Products Market: http://www.transparencymarketresearch.com/dairy-products-market.html
The market has been segmented as follows:
Global Frozen Processed Food Market, by Product Type
- Frozen Bakery Products
- Frozen Desserts
- Frozen Meat Substitutes
- Frozen Processed Fish/Sea Food
- Frozen Processed Poultry
- Frozen Processed Red Meat
Global Frozen Processed Food Market, by Geography/Country
- The U.S.
- Rest of Europe
- Rest of Asia Pacific
Rest of the World (RoW)
- Middle East
- Latin America
Browse All Other Food & Beverages Market Research Reports: http://www.transparencymarketresearch.com/food-beverages-market-reports-4.html
Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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Source:Transparency Market Research