Study reveals exotic, non-seasonal fruits & vegetables fueling growth in frozen foods market
Cold chain infrastructure has played an important role in driving the frozen foods market, as it helps to transport products at both the domestic and international levels.
Frozen foods are increasingly becoming an integral part of the daily diet, especially in European countries. Busy lifestyles continue to drive demand, which in turn, fuels growth in the overall frozen food market.
The global frozen food market valued at $219.87 billion in 2018, and is projected to grow at a CAGR of 5.14% during the forecast period, reaching $282.50 billion by 2023, according to research presented by MarketsandMarkets, New York. International trade of frozen foods continues to gain prominence, complemented by improved transportation facilities. The increase in the consumption of frozen food products in the emerging markets of Asia Pacific and South America has also contributed to the increase in the sale of frozen bakery products. The demand in developing regions is driven by the increase in disposable income.