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Global frozen food market to grow 4% by 2019

Global frozen food market to grow 4% by 2019

London, UK: The global frozen food market is projected to grow at a compound annual growth rate of 4% between 2015 and 2019, according to a report by Technavio.

“Producers, globally, are innovating in terms of product formulations and packaging to keep the frozen food fresh,” says the report. “Organic and natural frozen food have also gained momentum in the market among cost and health-conscious consumers.“

Europe continues to dominate the market, with a share close to 35%, with Germany remaining the region’s leading country in terms of frozen food consumption. Technavio expects the market in this region to reach a value of $95bn by the end of 2019.

“The global frozen food market is highly fragmented due to the presence of numerous small and large producers, while hypermarkets and supermarkets account for approximately 74% of the market share,” the report says.