Dublin, May 29, 2024 (GLOBE NEWSWIRE) -- The "Europe and ASEAN Frozen Food Market" report has been added to ResearchAndMarkets.com's offering.
With an anticipated growth climbing to US$ 194.62 billion by 2030, the Europe and ASEAN frozen food market encapsulates a dynamic and transformative sector of the global food industry. Its success is anchored in significant investments and consumer-centric innovation, supported by a backdrop of shifting preferences and the convenience of modern retail.
The Europe and ASEAN frozen food market is on a trajectory to realize significant growth, driven largely by rising Foreign Direct Investment and diversifying product offerings that resonate with evolving consumer tastes and preferences. As the sector burgeons with a projected compound annual growth rate of 8.98%, the market’s expansion is a testament to the symbiotic relationship between innovative food processing techniques and the reinforced infrastructure in retail, particularly within developing nations.
Despite this optimistic perspective, the burgeoning demand for naturally sourced and fresh food products presents a contemporary challenge for the frozen food industry, placing a spotlight on consumer health trends and their preference for unprocessed diets.
Segment Overview
The comprehensive assortment within the Europe and ASEAN frozen food market encompasses fruits, vegetables, dairy, meat & poultry, seafood, bakery items, soups, and a notably swiftly growing sector of ready meals. The inventory and selections available to consumers reflect a robust market segment. Notable is the meat & poultry category, which commanded over a 23% market share. Further distinguishing the market is the rise of unconventional distribution channels, accentuated by a surge in online retail and supermarkets/hypermarkets, illustrating a shift towards more expedient shopping methods. The B2B sector, inclusive of hospitality, travel, and educational institutions, continues to offer tremendous growth potential.
Europe's Dominance Complemented by ASEAN's Impact
Europe remains at the helm of the market, boasting a powerful revenue stream that sets the pace globally. The commitment of countries such as the UK, Germany, France, Italy, and Spain is instrumental in fortifying Europe's market leadership. However, the ASEAN market is an essential component of the industry's composition, with nations including Indonesia, Malaysia, Thailand, and Vietnam broadening the regional market dynamics. This collective geographical coverage highlights a marketplace rich in diversity and opportunity.
Company Profiles and Market Share
The Europe and ASEAN frozen food market is characterized by the notable presence of key industry players who hold a consolidated market share nearing 62%. These entities are at the forefront, orchestrating market growth through strategic initiatives emphasizing innovation and thoughtful expansion.
Consumer Behavior at the Core
A holistic view of the industry reveals intricate consumer behaviors that shape market developments. Decoding preferences in product choices, cuisine types, purchasing channels, brand affinities, and the frequency of purchases all play a vital role. These consumer patterns are further delineated by demographic variables, providing insight into a demographic cross-section including income, age, gender, and lifestyle choices.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 242 |
| Forecast Period | 2022-2030 |
| Estimated Market Value (USD) in 2022 | $101.24 Billion |
| Forecasted Market Value (USD) by 2030 | $194.62 Billion |
| Compound Annual Growth Rate | 8.9% |
| Regions Covered | Asia Pacific, Europe |
A selection of companies mentioned in this report includes, but is not limited to:
- A.P. Frozen Foods Co. Ltd.
- Ajinomoto Co. Inc.
- Associated British Foods PLC
- APITOON ENTERPRISE INDUSTRY CO. LTD.
- Cargill, Incorporated
- Dr. Oetker
- Frosta AG
- CJ Foods
- ConAgra Brands, Inc.
- General Mills Inc.
- Grupo Bimbo S.A.B. De C.V.
- Grupo Bimbo
- Kellogg Company
- Lantmannen Unibake International
- Maruha Nichiro Holding Inc.
- Mccain Foods Limited
- Nestle SA
- NH Foods Ltd.
- Nichirei Corporation
- Nippon Suisan
- The Kraft Heinz Company
- Tyson Foods, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/46r4xr
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