Europe Frozen Food Market Growth 2023, Trends Analysis, Increase at 3.03% CAGR, Revenue, Business Challenges and Future Share 2033: SPER Market Research
Foods that have been frozen are those that have been preserved at low temperatures for the purpose of preservation, allowing them to last a long time while still being edible. This category includes a variety of foods, including pizza, sweet corn, carrots, peas, chips, sausages and more.
According to SPER market research, ‘Europe Frozen Food Market Size– By Product, By Type, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Europe Frozen Food Market is predicted to reach USD 94.20 billion by 2033 with a CAGR of 3.03%.
The demand for frozen food in Europe is on the rise, primarily due to its quick preparation, making it appealing to the increasing number of working women. Changing consumer habits are prompting many to switch to frozen food products. The rapid growth of food chains, supermarkets, hypermarkets, and convenience stores, along with improved product quality and availability, is driving the European frozen food industry. The increasing popularity of ready-to-eat foods is also boosting this sector. Changing customer preferences due to lifestyle shifts are a key driver of market expansion, particularly in urban and regional areas. Furthermore, increased regulations regarding frozen food safety and actions taken by major manufacturers are crucial factors contributing to the growth of the European frozen food market.
The increasing trend towards e-commerce is a significant driver of market growth, particularly impacting the European frozen food industry. Online retailers leverage digital capabilities to provide a wider range of frozen food products, offering direct home delivery for customer convenience. This trend is fueled by smartphone usage, simplified online ordering, and real-time order tracking. Additionally, online retailers use data to tailor offerings to individual preferences, a crucial factor in the diverse and ever-evolving frozen food market, contributing to the anticipated growth of the European frozen food market in the forecast period.
However, the European frozen food industry faces challenges due to increased consumption of fresh foods. Additionally, there’s a misconception that frozen food may cause health issues like heart disease, diabetes, and high blood pressure. High maintenance and shipping costs are anticipated to slow the growth of the European frozen food market. Inadequate supply is a significant concern for the frozen food sector.
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Additionally, the frozen food sector has witnessed consistent growth during the COVID-19 pandemic. This is mainly attributed to consumers’ preference for longer-lasting food items. Particularly in Europe, there has been a rise in sales of frozen ready meals as people stock up on food products. Frozen foods have become popular because they offer a convenient dining option when restaurant visits are restricted due to lockdown measures.
Geographically, the region has experienced an increasing desire for frozen foods, driven by hectic lifestyles, shifting dietary preferences, and higher household incomes. Rapid urbanization in countries like Germany and the Netherlands has further elevated the demand for convenient options like frozen foods due to their quick preparation and extended shelf life. Additionally, some of the market key players are McCain Foods Limited, Nestle, Nomad Food Europe Limited, Nomad Food Europe Limited, Others.
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Europe Frozen Food Market Future Outlook
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