A billion dollars here, a billion there, and pretty soon you’re talking about real money!
The latest frozen food market report to be issued, this time by New York, NY-based Persistence Market Research, valued global frozen food commerce at US $122.1 billion in 2013. That is tremendously less than the $224.74 billion figure for 2012 reached by another numbers cruncher, Albany, NY-based Transparency Market Research. Available online in PDF form, PMR’s 120-page document sells for $4,600.
Meanwhile, looking at the United States market only, Packaged Facts has noted that total dollar value fell by about one percent in both 2013 and 2012, and was essentially flat last year. The Rockville, Maryland-headquartered market research publisher estimates that retail sales of the collective frozen food categories dinners/entrées, pizzas, side dishes, and appetizers/snacks were $22 billion in 2014 and will rise to $23 billion by 2019. You can read the full details in Frozen Foods in the US: Hot Meals, Sides and Snacks, for the price of $3,995.
Globally, Transparency Market Research calculates frozen food market commerce will register a CAGR of 3.9% between 2013 and 2019, to top $293 billion in sales. Persistence Market Research, on the other hand, anticipates that the value in 2020 will be approximately $156 billion. That’s quite a difference.
The new report from Persistence Market Research, entitled Global Market Study on Frozen Food: Retail Ready Meals to be the Largest Segment by 2020, has identified Europe as the largest market for frozen products. Its compound annual growth rate (CARG) was put at 2.8% from 2010-2013, as sales reached the equivalent of US $44.7 billion.
The Asia-Pacific region is expected to show the highest CAGR, at 6%, during the 2014-2010 period.
Under product segments, frozen ready meals accounted for the largest market in 2013. Sales rose by 3.3% CAGR during 2010-2013 to hit $29.4 billion. In terms of volume, the ready meals sector increased by 2.5% CAGR during to reach 6,205.2 million kg in 2013.
The global frozen food market is highly fragmented, with the top four players reportedly holding 19% of the total market share. The competitive landscape section of the Persistence Market Research report includes company market shares in various countries, as well as global shares.
The report also includes a section that provides an insight on the distribution channels. Among the major companies covered are Nestlé S.A., Ajinomoto Co., Inc, Kraft Foods Group, Inc., ConAgra Foods, Inc., General Mills, Inc., H.J. Heinz Company, Tyson Foods, Inc., Unilever PLC, Maple Leaf Foods Inc. and Pinnacle Foods Inc., BRF SA and Mother Dairy Fruit & Vegetable Pvt. Ltd.
