Convenience sells. That’s why it’s not surprising that the latest research shows that the frozen ready meals market is expected to grow at a compound annual rate of 5 percent over the next several years.
Supermarkets, hypermarkets, convenience stores, and discount stores are key distribution and marketing centers for frozen ready meals, according to the authors of the report — ResearchAndMarkets.
The growing demand for frozen ready meals from several economies including the US, the UK, Italy, Spain, France, Australia and other key economies will impact the market positively in the forthcoming years.
Helping to spur growth are three key factors:
- Innovations and re-designing of frozen food packaging;
- Investments and M&A in the frozen ready meals market;
- Rising popularity and demand for vegan, gluten-free, and organic frozen ready meals;
Several vendors are capitalizing on the increasing demand for frozen pizza, frozen appetizers, and other frozen products by launching new products with unique flavors and ingredients. This, will further drive the growth of the market.
Holding the industry back is the dietary science of the sector: The frequent consumption of frozen ready meals — depending on ingredients — can put consumers at risk of developing high blood pressure and other health-related adversities. This, according to the researchers, will likely hinder the growth of the market during the forecast period.