NEW YORK--(BUSINESS WIRE)--According to a new market report published by Persistence Market Research (www.persistencemarketresearch.com), titled “Global Market Study on Frozen Food: Frozen Ready Meals to be the Largest Segment by 2020”, the global frozen food market is valued at USD 126,113.4 million in 2014 and is expected to reach USD 156,377.2 million by 2020, growing at a CAGR of 3.6% from 2014 to 2020.

By volume, the market is estimated at 26,446.5 million kg in 2014, and is projected to reach 31,303.3 million kg by 2020, registering a 2.8% CAGR from 2014 to 2010.

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Market Dynamics

Major growth drivers for the market are busy consumer lifestyles, increasing number of working women, changing purchasing patterns, a surge in urban population, and convenience and availability of frozen food. Influence of western culture on food habits in developing nations and growing single-person households are major market trends.

Europe accounts for the largest market share of frozen food, followed by North America and Asia Pacific. Vital emerging markets for frozen food are India and Brazil. Nestle SA is the leading player in the frozen food market, while others major players include: H.J. Heinz Company, ConAgra Foods, Inc. and General Mills, Inc.

Markets covered

The report studies the global frozen food market by product by volume (kg million) and by value (USD million) and geography. By product, the market comprises: Frozen ready meals, frozen fish/seafood, frozen meat products, frozen pizza, frozen potato products, frozen bakery products and others. By geography, the report analyzes: North America (U.S. and Canada), Europe (France, Germany, Italy, U.K. and Spain), Asia Pacific (China, India and Japan) and Rest of the World (Brazil).

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About Us

Persistence Market Research (PMR) is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to client’s business needs.