Global Frozen Ready Meals Market 2019-2023

  • Published: Apr 2019
  • Pages: 120
  • SKU: IRTNTR31212
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The global frozen ready meals market is forecast to grow at a CAGR of about 5% during 2018-2023, and the market size will increase by USD 21.95 billion during the forecast period of 2019-2023. Between 2018-2023, the frozen ready meals market will grow at a faster pace than the overall market growth in 2019. The growth momentum of the frozen ready meals market is expected to accelerate in the second half of the forecast period compared to the increase in the first half.

The frozen ready meals market is fragmented, and the degree of fragmentation is expected to increase by 2023. An outlook of accelerating growth would provide opportunities to all market participants to grow. Market participants should focus on the opportunities on the demand side rather than getting overly impacted with the competitive dynamics. The accelerating growth momentum will be one of the contributing factors moderating the competitive intensity in the market over the forecast period.

Some of the key findings from our frozen ready meals market forecast report are summarized below

Global Frozen Ready Meals Market

Frozen entrée was the largest segment within the overall market in 2018 and will continue to remain so in 2023. The growth rate of the frozen pizza and other frozen ready meal segments will be faster than the global market growth during the forecast period 2019-2023. However, the growth rate of the frozen entrée segment will be slower than the overall market growth.

To identify growth opportunities in the frozen ready meals market, the market has been segmented into regions that are growing faster than the overall market. These regions have been pitted against regions that have a slower growth rate than the global market in 2018-2023. APAC and South America will grow faster than the overall market. Europe, MEA, and North America’s growth will be slower than the global market.

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This frozen ready meals market report provides a detailed analysis of the market by product (frozen entrée, frozen pizza, and other frozen ready meals) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors including Conagra Brands Inc., General Mills Inc., Nestlé, Nomad Foods, and Tyson Foods Inc.

Global frozen ready meals industry overview

Growing health consciousness and the rising prevalence of lactose-intolerance and celiac diseases among consumers have boosted the demand of vegan, gluten-free, and organic frozen meals. Frozen ready meals vendors are adopting fair practices, producing high-quality products with naturally-sourced ingredients, and launching new products frequently to gain a competitive edge in the market. The increasing focus of vendors to get organic labeling certifications will further contribute to the rising popularity of vegan, gluten-free, and organic frozen ready meals. These factors will have a positive impact on frozen ready meals market growth in the next five years.

The working population is increasingly preferring readymade foods because of their hectic work schedule. Frozen ready meals such as frozen appetizers and frozen breakfast provide added convenience to consumers which is especially beneficial for working professionals. Moreover, frozen ready meal vendors are offering products such as frozen pizza with various toppings which boosts its demand among consumers looking for quality and taste along with convenience. The convenience factor related to the usage of frozen ready meals will be one of the significant factors driving the growth of the market at a CAGR of about 5% during the forecast period.

Top frozen ready meals companies covered in this market research report

The global frozen ready meals market is fragmented. To help clients improve their market position, this report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this frozen ready meals market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make most of the future growth opportunities.

The report offers a detailed analysis of several leading frozen ready meals manufacturers, including:

  • Conagra Brands Inc.
  • General Mills Inc.
  • Nestlé
  • Nomad Foods
  • Tyson Foods Inc.

Frozen ready meals market segmentation based on product

  • Frozen entrée
  • Frozen pizza
  • Other frozen ready meals

The frozen entrée market segment will account for the highest frozen ready meals market share. New product launches and the comprehensive frozen entrée meal kit packages offered by vendors will drive the demand for frozen entrée products during the forecast period.

Frozen ready meals market segmentation based on geographic region

  • APAC
  • Europe
  • MEA
  • North America
  • South America

With a complete study of the growth opportunities for companies, it has been identified that Europe will account for the highest frozen ready meals market share throughout the forecast period. Product premiumization and the demand for convenient and tasty frozen meal variants are some of the factors responsible for frozen ready meals market growth in this region.

Key highlights of the global frozen ready meals market for the forecast years 2019-2023:

  • CAGR of the market during the forecast period 2019-2023
  • Detailed information on factors that will accelerate the growth of the frozen ready meals market during the next five years
  • Precise estimation of the global 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 APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on several vendors
  • Comprehensive details of factors that will challenge the growth of frozen ready meals companies 

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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.

TechnavioINFORMATION 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
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TechnavioDATA 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
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TechnavioREPORT 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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