Frozen Ready Meals Market by Product and Geography - Forecast and Analysis 2022-2026

Published: Mar 2022 Pages: 139 SKU: IRTNTR72944

The frozen ready meals market share is expected to increase by USD 37.98 billion from 2021 to 2026, at a CAGR of 5.78%.

This frozen ready meals market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers frozen ready meals market segmentation by product (frozen entree, frozen pizza, and other frozen ready meals) and geography (Europe, North America, APAC, South America, and Middle East and Africa). The frozen ready meals market report also offers information on several market vendors, including Ajinomoto Co. Inc., Al Kabeer Group ME, AMERICANA GROUP Inc., Boston Market Corp., BRF SA, California Pizza Kitchen Inc., Caulipower LLC, Conagra Brands Inc., General Mills Inc., Kellogg Co., Nestle SA, Nippon Suisan Kaisha Ltd., Nomad Foods Ltd., Orkla ASA, Productos Fernandez SA, Sigma Alimentos SA de CV, Sunbulah Group, The Kraft Heinz Co., Tyson Foods Inc., and Yeppy Foods among others.

What will the Frozen Ready Meals Market Size be During the Forecast Period?

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Frozen Ready Meals Market: Key Drivers, Trends, and Challenges

The new product launches is notably driving the frozen ready meals market growth, although factors such as challenges in warehousing of frozen foods may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the frozen ready meals industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Frozen Ready Meals Market Driver

One of the key factors driving the global frozen ready meals industry growth is the new product launches. Consumers also get a wide range of products to choose from, thereby spurring market growth. For instance, in June 2021, Conagra Brands, Inc. launched new products for the summer. The new offerings included Banquet Mega Double Stuffed Four Meat Pizza and Sesame Chicken with Zoodles. In June 2021, Tyson Foods, Inc. launched a new line of plant-based products in select retail markets and e-commerce sites across APAC. The initial launch included frozen bites, nuggets, and strips made from plants. Such factors will boost market growth in the coming years.

Key Frozen Ready Meals Market Trend

Growing popularity of private-label frozen ready meals is one of the key frozen ready meals market trends that is expected to impact the industry positively in the forecast period. Some retailers promote their own brands by providing more shelf space for their products when compared with other branded products. For instance, in 2020, the sale of private-label frozen foods increased by 75% globally. Online retailers like Amazon have been rolling out private-label frozen foods, while Consumer Value Stores (CVS) are expanding their frozen food sections by adding private-label frozen foods to increase their grocery business. Some private-label brands are focusing on launching their frozen foods in paper-based trays to reduce the use of plastic packaging and attract consumers by focusing on initiatives that promote environmental sustainability. This, in turn, will propel the growth of the market in the forecast years.

Key Frozen Ready Meals Market Challenge

One of the key challenges to the global frozen ready meals industry growth is the challenges in the warehousing of frozen foods. Retailers and distributors of frozen foods require the appropriate cold storage and warehouse facilities, wherein frozen foods need to be stored at zero-degree temperatures (Fahrenheit) to ensure that the quality of products does not degrade. Frozen food products, such as meat, poultry, and seafood, are perishables. Warehouses must have the facility to regulate and maintain both humidity and temperature. Moreover, warehouses require proper backup facilities in terms of electricity and freezing equipment. Hence, the warehousing of frozen foods, including frozen ready meals, is a challenge, particularly in rural areas across developing economies such as Nigeria and Kenya.

This frozen ready meals market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global frozen ready meals market as a part of the global packaged foods and meats market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the frozen ready meals market during the forecast period.

Who are the Major Frozen Ready Meals Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Ajinomoto Co. Inc.
  • Al Kabeer Group ME
  • AMERICANA GROUP Inc.
  • Boston Market Corp.
  • BRF SA
  • California Pizza Kitchen Inc.
  • Caulipower LLC
  • Conagra Brands Inc.
  • General Mills Inc.
  • Kellogg Co.
  • Nestle SA
  • Nippon Suisan Kaisha Ltd.
  • Nomad Foods Ltd.
  • Orkla ASA
  • Productos Fernandez SA
  • Sigma Alimentos SA de CV
  • Sunbulah Group
  • The Kraft Heinz Co.
  • Tyson Foods Inc.
  • Yeppy Foods

 

This statistical study of the frozen ready meals market encompasses successful business strategies deployed by the key vendors. The frozen ready meals market is fragmented and the vendors are deploying growth strategies such as new product launches to compete in the market.

Product Insights and News

  • Ajinomoto Co. Inc. - The company offers frozen ready meals that contribute to delicious tastes tailored to the eating habits of local consumers, as well as nutritional improvement. 
  • Ajinomoto Co. Inc. - In May 2021, the company appointed Junichiro Kojima as executive officer and vice president of the Food and Product division. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The frozen ready meals market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Frozen Ready Meals Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the frozen ready meals market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Frozen Ready Meals Market?

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35% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for frozen ready meals in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The increasing consumption of frozen appetizers, such as frozen dumplings, frozen sandwiches, side dishes, and breakfast items will facilitate the frozen ready meals market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 hindered the growth of the frozen ready meals market in the region in 2020. Countries such as China, India, Nepal, Pakistan, South Korea, Malaysia, Sri Lanka, and the Philippines implemented either a partial or full lockdown to control the spread of the pandemic. However, in 2021, the initiation of mass COVID-19 vaccination drives and a slow revival in economic growth were expected to improve the demand for frozen ready meals from end-users, which, in turn, will have a positive impact on the growth of the frozen ready meals market in the region.

What are the Revenue-generating Product Segments in the Frozen Ready Meals Market?

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The frozen ready meals market share growth by the frozen entree segment will be significant during the forecast period. The growth is attributed to the high demand for frozen entree by key vendors such as Nestle, Conagra Brands Inc. (Conagra Brands), Tyson Foods Inc. (Tyson Foods), Nomad Foods, The Kraft Heinz Company (Kraft Heinz), and Sigma Alimentos.

This report provides an accurate prediction of the contribution of all the segments to the growth of the frozen ready meals market size and actionable market insights on post COVID-19 impact on each segment.

 

Frozen Ready Meals Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Decelerate at a CAGR of 5.78%

Market growth 2022-2026

$ 37.98 billion

Market structure

Fragmented

YoY growth (%)

6.49

Regional analysis

Europe, North America, APAC, South America, and Middle East and Africa

Performing market contribution

APAC at 35%

Key consumer countries

US, China, India, Germany, and France

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Ajinomoto Co. Inc., Al Kabeer Group ME, AMERICANA GROUP Inc., Boston Market Corp., BRF SA, California Pizza Kitchen Inc., Caulipower LLC, Conagra Brands Inc., General Mills Inc., Kellogg Co., Nestle SA, Nippon Suisan Kaisha Ltd., Nomad Foods Ltd., Orkla ASA, Productos Fernandez SA, Sigma Alimentos SA de CV, Sunbulah Group, The Kraft Heinz Co., Tyson Foods Inc., and Yeppy Foods

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Frozen Ready Meals Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive frozen ready meals market growth during the next five years
  • Precise estimation of the frozen ready meals market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the frozen ready meals industry across Europe, North America, APAC, South America, and Middle East and Africa
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of frozen ready meals market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
  • 3.4 Market outlook: Forecast for 2021-2026
    • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
    • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
    • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
    • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

  • 4.1 Five forces summary
    • Exhibit 17: Five forces analysis - Comparison between2021 and 2026
  • 4.2 Bargaining power of buyers
    • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
  • 4.3 Bargaining power of suppliers
    • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
  • 4.4 Threat of new entrants
    • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
  • 4.5 Threat of substitutes
    • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
  • 4.6 Threat of rivalry
    • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
  • 4.7 Market condition
    • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Product

  • 5.1 Market segments
    • Exhibit 24: Chart on Product - Market share 2021-2026 (%)
    • Exhibit 25: Data Table on Product - Market share 2021-2026 (%)
  • 5.2 Comparison by Product
    • Exhibit 26: Chart on Comparison by Product
    • Exhibit 27: Data Table on Comparison by Product
  • 5.3 Frozen entree - Market size and forecast 2021-2026
    • Exhibit 28: Chart on Frozen entree - Market size and forecast 2021-2026 ($ million)
    • Exhibit 29: Data Table on Frozen entree - Market size and forecast 2021-2026 ($ million)
    • Exhibit 30: Chart on Frozen entree - Year-over-year growth 2021-2026 (%)
    • Exhibit 31: Data Table on Frozen entree - Year-over-year growth 2021-2026 (%)
  • 5.4 Frozen pizza - Market size and forecast 2021-2026
    • Exhibit 32: Chart on Frozen pizza - Market size and forecast 2021-2026 ($ million)
    • Exhibit 33: Data Table on Frozen pizza - Market size and forecast 2021-2026 ($ million)
    • Exhibit 34: Chart on Frozen pizza - Year-over-year growth 2021-2026 (%)
    • Exhibit 35: Data Table on Frozen pizza - Year-over-year growth 2021-2026 (%)
  • 5.5 Other frozen ready meals - Market size and forecast 2021-2026
    • Exhibit 36: Chart on Other frozen ready meals - Market size and forecast 2021-2026 ($ million)
    • Exhibit 37: Data Table on Other frozen ready meals - Market size and forecast 2021-2026 ($ million)
    • Exhibit 38: Chart on Other frozen ready meals - Year-over-year growth 2021-2026 (%)
    • Exhibit 39: Data Table on Other frozen ready meals - Year-over-year growth 2021-2026 (%)
  • 5.6 Market opportunity by Product
    • Exhibit 40: Market opportunity by Product ($ million)

6 Customer Landscape

  • 6.1 Customer landscape overview
    • Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

  • 7.1 Geographic segmentation
    • Exhibit 42: Chart on Market share by geography 2021-2026 (%)
    • Exhibit 43: Data Table on Market share by geography 2021-2026 (%)
  • 7.2 Geographic comparison
    • Exhibit 44: Chart on Geographic comparison
    • Exhibit 45: Data Table on Geographic comparison
  • 7.3 Europe - Market size and forecast 2021-2026
    • Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 ($ million)
    • Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
    • Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%)
    • Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%)
  • 7.4 North America - Market size and forecast 2021-2026
    • Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
    • Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)
  • 7.5 APAC - Market size and forecast 2021-2026
    • Exhibit 54: Chart on APAC - Market size and forecast 2021-2026 ($ million)
    • Exhibit 55: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
    • Exhibit 56: Chart on APAC - Year-over-year growth 2021-2026 (%)
    • Exhibit 57: Data Table on APAC - Year-over-year growth 2021-2026 (%)
  • 7.6 South America - Market size and forecast 2021-2026
    • Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
    • Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)
  • 7.7 Middle East and Africa - Market size and forecast 2021-2026
    • Exhibit 62: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
    • Exhibit 63: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
    • Exhibit 64: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • Exhibit 65: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
  • 7.8 US - Market size and forecast 2021-2026
    • Exhibit 66: Chart on US - Market size and forecast 2021-2026 ($ million)
    • Exhibit 67: Data Table on US - Market size and forecast 2021-2026 ($ million)
    • Exhibit 68: Chart on US - Year-over-year growth 2021-2026 (%)
    • Exhibit 69: Data Table on US - Year-over-year growth 2021-2026 (%)
  • 7.9 China - Market size and forecast 2021-2026
    • Exhibit 70: Chart on China - Market size and forecast 2021-2026 ($ million)
    • Exhibit 71: Data Table on China - Market size and forecast 2021-2026 ($ million)
    • Exhibit 72: Chart on China - Year-over-year growth 2021-2026 (%)
    • Exhibit 73: Data Table on China - Year-over-year growth 2021-2026 (%)
  • 7.10 Germany - Market size and forecast 2021-2026
    • Exhibit 74: Chart on Germany - Market size and forecast 2021-2026 ($ million)
    • Exhibit 75: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
    • Exhibit 76: Chart on Germany - Year-over-year growth 2021-2026 (%)
    • Exhibit 77: Data Table on Germany - Year-over-year growth 2021-2026 (%)
  • 7.11 India - Market size and forecast 2021-2026
    • Exhibit 78: Chart on India - Market size and forecast 2021-2026 ($ million)
    • Exhibit 79: Data Table on India - Market size and forecast 2021-2026 ($ million)
    • Exhibit 80: Chart on India - Year-over-year growth 2021-2026 (%)
    • Exhibit 81: Data Table on India - Year-over-year growth 2021-2026 (%)
  • 7.12 France - Market size and forecast 2021-2026
    • Exhibit 82: Chart on France - Market size and forecast 2021-2026 ($ million)
    • Exhibit 83: Data Table on France - Market size and forecast 2021-2026 ($ million)
    • Exhibit 84: Chart on France - Year-over-year growth 2021-2026 (%)
    • Exhibit 85: Data Table on France - Year-over-year growth 2021-2026 (%)
  • 7.13 Market opportunity by geography
    • Exhibit 86: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers
  • 8.2 Market challenges
  • 8.3 Impact of drivers and challenges
    • Exhibit 87: Impact of drivers and challenges in 2021 and 2026
  • 8.4 Market trends

9 Vendor Landscape

  • 9.1 Overview
  • 9.2 Vendor landscape
    • Exhibit 88: Overview on Criticality of inputs and Factors of differentiation
  • 9.3 Landscape disruption
    • Exhibit 89: Overview on factors of disruption
  • 9.4 Industry risks
    • Exhibit 90: Impact of key risks on business

10 Vendor Analysis

  • 10.1 Vendors covered
    • Exhibit 91: Vendors covered
  • 10.2 Market positioning of vendors
    • Exhibit 92: Matrix on vendor position and classification
  • 10.3 Ajinomoto Co. Inc.
    • Exhibit 93: Ajinomoto Co. Inc. - Overview
    • Exhibit 94: Ajinomoto Co. Inc. - Business segments
    • Exhibit 95: Ajinomoto Co. Inc. - Key news
    • Exhibit 96: Ajinomoto Co. Inc. - Key offerings
    • Exhibit 97: Ajinomoto Co. Inc. - Segment focus
  • 10.4 Conagra Brands Inc.
    • Exhibit 98: Conagra Brands Inc. - Overview
    • Exhibit 99: Conagra Brands Inc. - Business segments
    • Exhibit 100: Conagra Brands Inc. - Key news
    • Exhibit 101: Conagra Brands Inc. - Key offerings
    • Exhibit 102: Conagra Brands Inc. - Segment focus
  • 10.5 General Mills Inc.
    • Exhibit 103: General Mills Inc. - Overview
    • Exhibit 104: General Mills Inc. - Business segments
    • Exhibit 105: General Mills Inc. - Key offerings
    • Exhibit 106: General Mills Inc. - Segment focus
  • 10.6 Kellogg Co.
    • Exhibit 107: Kellogg Co. - Overview
    • Exhibit 108: Kellogg Co. - Business segments
    • Exhibit 109: Kellogg Co. - Key news
    • Exhibit 110: Kellogg Co. - Key offerings
    • Exhibit 111: Kellogg Co. - Segment focus
  • 10.7 Nestle SA
    • Exhibit 112: Nestle SA - Overview
    • Exhibit 113: Nestle SA - Business segments
    • Exhibit 114: Nestle SA - Key news
    • Exhibit 115: Nestle SA - Key offerings
    • Exhibit 116: Nestle SA - Segment focus
  • 10.8 Nomad Foods Ltd.
    • Exhibit 117: Nomad Foods Ltd. - Overview
    • Exhibit 118: Nomad Foods Ltd. - Product / Service
    • Exhibit 119: Nomad Foods Ltd. - Key offerings
  • 10.9 Productos Fernandez SA
    • Exhibit 120: Productos Fernandez SA - Overview
    • Exhibit 121: Productos Fernandez SA - Product / Service
    • Exhibit 122: Productos Fernandez SA - Key offerings
  • 10.10 Sigma Alimentos SA de CV
    • Exhibit 123: Sigma Alimentos SA de CV - Overview
    • Exhibit 124: Sigma Alimentos SA de CV - Business segments
    • Exhibit 125: Sigma Alimentos SA de CV - Key offerings
    • Exhibit 126: Sigma Alimentos SA de CV - Segment focus
  • 10.11 The Kraft Heinz Co.
    • Exhibit 127: The Kraft Heinz Co. - Overview
    • Exhibit 128: The Kraft Heinz Co. - Business segments
    • Exhibit 129: The Kraft Heinz Co. - Key offerings
    • Exhibit 130: The Kraft Heinz Co. - Segment focus
  • 10.12 Tyson Foods Inc.
    • Exhibit 131: Tyson Foods Inc. - Overview
    • Exhibit 132: Tyson Foods Inc. - Business segments
    • Exhibit 133: Tyson Foods Inc. - Key offerings
    • Exhibit 134: Tyson Foods Inc. - Segment focus

11 Appendix

  • 11.1 Scope of the report
  • 11.2 Inclusions and exclusions checklist
    • Exhibit 135: Inclusions checklist
    • Exhibit 136: Exclusions checklist
  • 11.3 Currency conversion rates for US$
    • Exhibit 137: Currency conversion rates for US$
  • 11.4 Research methodology
    • Exhibit 138: Research methodology
    • Exhibit 139: Validation techniques employed for market sizing
    • Exhibit 140: Information sources
  • 11.5 List of abbreviations
    • Exhibit 141: List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape

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Key Questions Answered

  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?

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