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Global Frozen Food Market to Hit US$156 Billion by 2020

Posted February 17, 2015

Under Economic Issues, International Trade Issues

(Food Processing.com)

The global frozen food market was worth US$122.1 billion in 2013 and is set to reach US$156.4 billion in 2020 - a CAGR of 3.6% - according to a new market report by Persistence Market Research.

Frozen foods have taken off as consumers have embraced ready-to-eat food products due to busy schedules. They also enable access to foods which may have previously been unavailable or available only during a particular season.

Europe has the largest market share for frozen food, followed by North America and the Asia-Pacific region. In Asia-Pacific, economic developments combined with increasing urbanisation and disposable income are driving the frozen food market. Click here to read more.