The frozen meat market is projected to grow at a 4.36% CAGR between 2017-2023, reveals the new Market Research Future (MRFR) report. Frozen meat, simply put, are processed meat substitutes that are processed as well as stored at a lower temperature to stop the growth of micro-organisms. It is the best process for overcoming the issue of seasonality that provides longer shelf life as well as food safety. Frozen meats are sprayed using preservatives, which prevents food spoilage. Owing to rapid freezing, the freshness, taste, and texture of the meat are maintained. Frozen meat products aids in reducing food wastage and, above all, easy to cook.
Numerous factors are adding to the Global frozen meat market share. Such factors, according to the recent MRFR report, include changing lifestyles in developing and developed economies, rising per capita income, growing demand for frozen food products, growing need of ready to eat food, the convenience trend, increase in the female working population, increase in nuclear families and increasing migration of people to metropolitan cities from rural areas. Moreover, increasing online food delivery services and increasing penetration of e-commerce is also adding market growth.
On the contrary, high equipment costs, presence of preservatives, inadequate distribution facility, especially in rural and semi-urban areas, and scarcity of proper refrigeration facility especially in retail stores, are factors that may hamper the global frozen meat market growth over the forecast period.
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The MRFR report provides an inclusive segmental analysis of the global frozen meat market based on end users, distribution channels, and product types.
By product type, the global frozen meat market is segmented into the frozen whole cut and frozen processed cut. Of these, frozen processed meat is predicted to lead the market over the forecast period.
By distribution channel, the global frozen meat market is segmented into non-store based and store-based. Of these, store-based will dominate the market over the forecast period.
By end user, the global frozen meat market is segmented into service and retail customers. Of these, service will have a major share in the market over the forecast period.
By region, the global frozen meat market covers the growth opportunities and recent trends across Europe, North America, the Middle East & Africa (MEA), Latin America, and the Asia Pacific (APAC). Of these, Europe is likely to have the lions share in the market over the forecast period. Factors adding to the growth of the frozen meat market in the region include increasing middle-class population, rising urbanization, and robust economic growth. Besides, changing lifestyles and rising consumption of frozen meat are also adding market growth. Germany is a major contributor in the region.
The global frozen meat market in North America is predicted to have healthy growth over the forecast period for rising disposable income and high consumption of frozen foods.
The global frozen meat market in the APAC region is predicted to grow at a quick pace on account of the rising adoption of frozen food products. It is likely to grow at a 4.87% CAGR by 2023.
The global frozen meat market in Latin America & the MEA is predicted to have moderate growth over the forecast period.
Eminent players profiled in the global frozen meat market report include Cargill Incorporated (the U.S.), Tyson Foods, Inc. (the U.S.), Pilgrim’s Pride Corporation (the U.S.), Associated British Foods Plc. (the U.K.), BRF S.A. (Brazil), Kerry Group Plc. (Ireland), and Marfrig Group. (Brazil). Industry players have adopted several strategies such as mergers, acquisitions, strategic alliances, extensive research and development activities, and new product development to stay ahead in the competition.
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