Frozen Food Market Expected to Reach $306 Billion by 2020
North America and Europe together account for nearly 72% of the total market revenue
According to a new report published by Allied Market Research titled, "World Frozen Food Market"- Opportunities and Forecasts, 2014-2020," the global frozen food market would garner revenue of $306 billion by 2020, registering a CAGR of 4.1% during the forecast period of 2015-2020. Ready meal market encompassing ready to eat foods would account for the highest sales value of $112.7 billion by 2020. North America and Europe together account for nearly 72% of the total market revenue. However, developing markets would witness a significantly higher growth over the forecast period.
Frozen ready meals account for the largest share of the overall market sales value and would continue to be the leading contributor over the forecast period (2015 - 2020). The segment is forecast to witness a CAGR of 3.8% during 2015 - 2020. Protein bars, healthy snacks and other such frozen food products would continue to gain popularity among consumers. Frozen bakery and snacks' market would witness a rapid growth in Asia Pacific region. Frozen potatoes and frozen vegetables & fruits together constitute around 14% of the overall frozen food market revenue. Increasing sales of organic fries and snacks has created a huge demand of organic and sweet frozen potatoes in the developed markets.
To request more information about the report, visit https://www.alliedmarketresearch.com/frozen-food-market