Asia Pacific Frozen Food Market Expected To Grow At a CAGR Of 4.8% From 2014 To 2020: Grand View Research, Inc.

The global frozen food market is expected to reach USD 307.33 billion by 2020, according to a new study by Grand View Research, Inc. Consumer shift towards adoption of food requiring less time to prepare on account of their changing lifestyle is expected to remain a key driving factor for the global frozen food market. Frozen food provides convenience along with variety to the consumer which has also played an important role in development of frozen food market. Growth of meat industry particularly in BRIC nation on account of increasing population and disposable income level is also expected to drive the global frozen food market over the next six years.

Presence of a large unorganized market in Asian countries is expected to remain challenge for existing market participants. Unbranded frozen food poses threat to major companies in terms of quality and price offerings. Cultural barriers to adopt frozen food in parts of Asia Pacific are also expected to inhibit the market growth. Elderly population in Asia Pacific still prefer farm fresh food over frozen food and penetrate this market is expected to challenge for market participants. High logistics cost and health issues regarding presence of high sugar content and far preservatives in frozen food is also expected to hinder the market growth.

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