Study: Growth in frozen foods driven by rise in working population coupled with e-commerce channels
Frozen fish and seafood products account for a significant market share.
The global frozen food market is set to witness a higher CAGR of 6.15% during the period 2017-2021, according to research presented by Radiant Insights, Inc., San Francisco.
Growth in the frozen food market is driven by the rise in working population that demand ready-to-eat meals coupled with presence of e-commerce channels. However, cheap substitutes with no standardization and lack of authentic packaging might hinder the market growth in the forecast period. Frozen fish and seafood products account for a significant market share, owing to increased demands by working population and rise in disposable income.