Frozen food is among the many fastest rising categories in grocery in lots of markets across the world, together with the North American one. Based on data from the American Frozen Food Institute (AFFI) and the Food Marketing Institute (FMI), frozen food takes a significant market share for many retailers within the nation, bringing nearly USD57bn annually.
Moreover, a recent report from research firm MarketsandMarkets sheds gentle by way of preferences, noting that in each U.S. and Canada, consumers enjoy together with frozen snacks into their diets. A significant share of U.S. consumers eats branded frozen meals, corresponding to Hot Pockets, pizza rolls, and comparable bite-size heat-and-eat snacks. The chance is much more pronounced amongst younger consumers: three-quarters of 18-34 y.o within the U.S. say they eat some frozen meal within the twelve months previous March 2018.
In the identical vein, in Canada, the demand for snacks and different kinds of comfort foods among the many young populations is steadily growing. The value of those merchandise stays a determining issue. However, the rising disposable income among the many people has allowed these consumers to make the shift in the direction of convenient, time-saving meals, ready-to-cook dinner/eat, and different kinds of mini-meals. Moreover, a report printed by the USA Division of Agriculture (USDA) in 2018 confirmed that gross sales of frozen and chilled products had been very excessive. In keeping with the data, meat patties are set to expertise a growth rate of 11% (in volume) between 2017-2023. Natural, healthy frozen meat substitutes and frozen processed vegetables and fruit are additionally poised to grow by 6.2% and 6.0% respectively.