The key role of refrigeration in the global supply chain of food products continues to drive the use of frozen storage units. According to a report produced by Future Market Insights, Valley Cottage, N.Y., the demand for frozen ready meals is expected to witness steady demands in the foreseeable future. However, the report also addresses that shortcomings in the global cold chain and growing complexities in production of frozen ready meals will continue to act as market growth impediments.
Key findings from the report reveal that the global frozen ready meals market will expand at a moderate CAGR of 4.3% and bring in an estimated revenues worth over $47 billion. The report analyzed several factors influencing the growth dynamics of the global frozen ready meals market, including quality and safety.
Absolute compliance to quality and safety standards
Companies partaking in the global frozen ready meals market are expected to be compliant to the safety and food quality standards set by regional and global regulatory bodies. Major industry players are expected to follow production techniques that retain the quality of the frozen ready meals. Moreover, these companies are expected to invest millions in developing methods for making frozen ready meals safer to the common consumer. Collaborating with the right packaging partner will also instrument a greater safety of the frozen ready meals being produced. New machinery facilitates the cook-assemble-freeze manufacturing of these meals at a large scale. Cold storage companies are also witnessing a consolidation to ensure that the fluctuating storage conditions do not degrade the quality of frozen ready meals to higher extent.
Chicken meals to be top-selling product in overall frozen ready meals landscape
The report’s intensity map reveals that a majority of market players will concentrate their production in the Asia-Pacific, excluding Japan (APEJ) region. The APEJ frozen ready meals market is expected to witness highest and fastest expansion during the forecast period, in terms of production as well as sales. Consumers in the APEJ region are estimated to be more inclined toward frozen ready meals against fresh meals due to the ease of re-heating and thawing over preparing the meals from scratch. Europe and North America are also expected to witness considerable growth in terms of sales of frozen ready meals. Large food chain services in these developed regions will showcase a considerable end-use of frozen ready meals through 2026.
The report further reveals that the global frozen ready meals market will witness highest end-use among food chain services, followed by modern trade outlets. By the end of 2026, more than $16.6 billlion worth of frozen ready meals will be used by food chain services across the globe. The report also reveals that chicken meals will be a top-selling product in the overall frozen ready meals landscape. In 2017 and beyond, more than one-third of revenues procured in the global frozen ready meals market will be accounted by the sales of frozen ready chicken meals.