The impact of urbanization, lifestyle changes, and digital health trends on the functional food market worldwide suggest that the market is projected to reach market size of USD 405 Billion by 2030.
Food & Beverages
The frozen food market in the Asia Pacific is developing as the rate of working women around the region incremented along with their busting schedule. The key drivers for development in the local market are an expansion in the number of labourers and furious working routine. Along with this, the accommodation of an active way of life and the expanded interest in ready to eat food has enhanced the product adaption. An increase in the young population is probably going to positively affect the general interest for frozen food products, particularly due to a rising degree of extra cash and a decrease in the time allotted for cooking. In addition to that, innovation in products can prompt interest during the predicted time frame. As the desires for quality frozen food have mounted among the customers' China, India and Japan have been the main market for frozen food utilization.
As per a recently published report of Bonafide Research,” Asia-Pacific Frozen Food Market Outlook, 2027”, the frozen food market of Asia Pacific has crossed USD 58 Billion in 2021, which has been strongly dominated by the revenue generated from China. The Asia Pacific market is available with new trends and drivers which are forcing the industry to do continuous innovation in each segment. An increase in demand for frozen food led to the growth of each segment such as frozen ready meals, frozen meat, and poultry, frozen fruits and vegetables, etc due to an increase in a hectic life and change in consumer buying patterns. Out of these forms of frozen foods; frozen meat products generate the highest revenue and very much popular among consumer diets. The continuous improvement and innovation in the quality of these products led to an increase in demand in the market.
Frozen food has come a long way in terms of offering product variants and quality of food. However, it still seen and choose by the consumer as a second fiddle to fresh product and perceived as a backup option when the customer is not able to purchase grocery items or fresh items have run out. The individuals who purchase more frozen food are parents with the responsibility of kids as well as work and the older generation who show higher engagement in consumption of all types of food. On the bases of consumption, the foodservice market is evaluated to represent the large portion in the Asia Pacific market which includes caf?, quick service restaurants, bars, lodging, and healthcare.
The frozen food market in the Asia Pacific has always focused on the new product innovation and continuous improvement of products in a different segment. The digitalization of the retail market industry has seen a change in the purchase from the traditional market to buying frozen food on e-commerce which helps the consumer and makes it convenient to pick products as per their preference. Consumers can compare a variety of products from various brands without consuming much time on online shopping.
As per a recently published report of Bonafide Research,” Asia-Pacific Frozen Food Market Outlook, 2027”, the frozen food market of Asia Pacific has crossed USD 58 Billion in 2021, which has been strongly dominated by the revenue generated from China. The Asia Pacific market is available with new trends and drivers which are forcing the industry to do continuous innovation in each segment. An increase in demand for frozen food led to the growth of each segment such as frozen ready meals, frozen meat, and poultry, frozen fruits and vegetables, etc due to an increase in a hectic life and change in consumer buying patterns. Out of these forms of frozen foods; frozen meat products generate the highest revenue and very much popular among consumer diets. The continuous improvement and innovation in the quality of these products led to an increase in demand in the market.
Frozen food has come a long way in terms of offering product variants and quality of food. However, it still seen and choose by the consumer as a second fiddle to fresh product and perceived as a backup option when the customer is not able to purchase grocery items or fresh items have run out. The individuals who purchase more frozen food are parents with the responsibility of kids as well as work and the older generation who show higher engagement in consumption of all types of food. On the bases of consumption, the foodservice market is evaluated to represent the large portion in the Asia Pacific market which includes caf?, quick service restaurants, bars, lodging, and healthcare.
The frozen food market in the Asia Pacific has always focused on the new product innovation and continuous improvement of products in a different segment. The digitalization of the retail market industry has seen a change in the purchase from the traditional market to buying frozen food on e-commerce which helps the consumer and makes it convenient to pick products as per their preference. Consumers can compare a variety of products from various brands without consuming much time on online shopping.
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