Germany Frozen Food Market is Projected to Grow USD 15.77 Billion by 2024
Posted by Marsh William on October 31st, 2018
31 October 2018, Germany frozen food market is expected to reach USD 15.77 billion by 2024 and is anticipated to grow over the forecast period as well. Increasing popularity of seasonal frozen food among the young German consumer is the key factor driving the growth of this food products over the forecast period. Frozen food products are easy to cook and are healthy. Improvement in preservation technology has helped in maintaining nutrient and vitamins. In addition, frozen foods can be stored for longer period without preservatives owing to the sophisticated cold storage technology.
According to German Frozen Food Institute, almost 17,000 different products are available in Germany and strong credentials to freshness, convenience and value makes frozen food popular among consumers. The frozen bakery products accounted for the largest market share in 2016. Increasing offering of high quality of frozen bakery products in combination and customizable solution are the factors driving the growth of frozen bakery product category in Germany. Frozen pizza is expected to grow at a fastest CAGR owing to the increasing demand for fast food in the region. Furthermore, increased in clean label and launched of vegetarian pizza is expected have opposite impact on market growth in the near future.
Free from gluten and lactose trend can be seen increasing in the market. Many companies are focusing on adding values and variants to their product offering. Furthermore, consumer show lasting interest in traditional food. Thus, exciting trend for frozen food products which use regional recipes and, with the usage of locally made raw products is expected increase in foreseeable future.
Offline distribution channel dominated the frozen food market in 2016. According to a study conducted by one of the German institute, about 34 times German consumer visit frozen food section in supermarket yearly. While offline channel remains dominant, online channel is anticipated to register a fast growth over the forecast period. Convenience factor and availability of discounts and wide variety of purchase options are some of the factors driving the growth of online retail channel.
Leading companies in this market are adopting brownfield expansion strategy to sustain in competitive environment and expand their presence in the market. For instance, in 2013, Nestlé Wagner opened a new frozen pizza manufacturing facility in Germany in order to expand its product portfolio to cater increasing demand of frozen pizza and to strengthen its market position in the market.
Browse Details of Report @ https://www.hexaresearch.com/research-report/germany-frozen-food-market
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About the AuthorMarsh William
Joined: August 11th, 2017
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