Frozen Food Market - Forecast
According to the Food and Agriculture Organization of the United Nations, nearly one-third of the food produced every year amounting to roughly $680 billion (approximately 1.3 billion tons) gets either wasted or lost [1] . The issue of food wastage has given birth to the frozen food market which is experiencing colossal growth with an increase in disposable income and accentuated refrigeration technology. According to the analyst at IndustryARC, the global frozen food market size in 2018 stood between $225 billion to $228 billion. The market is estimated to grow steadily with a normal CAGR of 3.5%-5% during the forecast period of 2019-2025. Geographically, Europe led the frozen food market with a regional share of 30%-32% in 2018 owing to an increase in mergers and acquisitions between vendors and hypermarkets. On-the-go consumption of food is also driving the European frozen food market. Frozen Food Market Outlook: The prospect for frozen food market has never ...