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Prepared frozen food to reach $186 billion by 2015

Prepared frozen food to reach $186 billion by 2015
El Monterrey mini chicken tacos


El Monterrey mini chicken tacosReady availability without compromising on quality and freshness make frozen food hot favorites of many. The market consists of frozen pizzas, sandwiches, meat pies, side dishes and ethnic food, among others. Frozen prepared food are the next best alternatives to fresh, cooked food, especially on busy days and help in serving meals at short notice as and when occasion demands. Over the past few years, increase in the number of working women and changing trends in ethnicity have led to greater indulgence in frozen food. Additionally, increasing number of nuclear families, rise in disposable incomes, young singles with little or no cooking skills, enhanced awareness of healthful diets and increased interest in ethnic and international foods, are other factors which are providing impetus to the frozen foods industry.

 

Frozen food products are the newest additions to the next generation of technology driven food products that are tuned to fit into the consumers' ever dwindling cooking time schedules. Consumer lifestyle has been and continues to be the crux behind product innovation/development efforts. The "fresher than fresh" promotional campaign of the frozen food industry is enabling consumers to realize the authenticity and benefits of frozen foods. The frozen food market is abuzz with innovative initiatives across diverse categories of products. In addition to good taste, imagination and creativity serve as powerful distinguishing factors among developers of food products in the industry.

 

As the next generation of convenient customer ready foods begins to hit the market, highly processed frozen microwavable food will rapidly make inroads into the frozen food sections of supermarkets and grocery stores. The trend of shoving in a frozen microwavable ready meal into the microwave oven and heating it is gaining momentum not only among individual consumers but also among institutions and public food outlets. Pushed against the wall by time constraints, modern day consumers are increasingly demanding ready meals that are microwavable. Gaining increasing popularity is the chilled and frozen ready meals category, driven by pioneering food companies' innovative product introductions aimed at igniting universal consumer enthusiasm.

 

Frozen pizzas dominate the prepared frozen foods industry. Modern day pizzas are no longer confined to traditional flat and circular shape, but come in an endless variety of creative shapes/structures, such as, pizza-on-a-stick, pizza pockets and pizza strudel, to name a few. In 2010, the segment witnessed exponential growth, primarily as recession hit economy forced consumers to look out for convenient and economically priced food items instead of purchasing take-outs or splurging in dining out. Presently, frozen pizzas are registering enhanced sales as well as profits by delivering the same quality and convenience as that offered by restaurants, however at an economical price range. Even though the promotional activities and deals offered by conventional pizza chains are affecting the sales of frozen pizzas to a certain extent, the segment is continuously witnessing an increasing rate of growth along with increase in sales and profit driven by the introduction of new products, enhanced ingredients as well as apt promotional strategies.

 

The research report titled "Frozen Prepared Food: A Global Outlook" announced by Global Industry Analysts, Inc., provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report offers a rudimentary overview of the industry, highlights latest trends and demand drivers, in addition to providing statistical insights. Regional markets briefly abstracted and covered include United States, Canada, Europe (United Kingdom), Asia Pacific (China, India, Thailand and Malaysia). The report offers a compilation of recent mergers, acquisitions, and strategic corporate developments. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of companies worldwide.

 

Source: Global Industry Analysts Inc.
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