Processed Animal Protein Market Exploring Regional Dynamic and Share, Size, Growth by 2028
The global frozen foods market size is projected to reach USD 185.28 billion by 2027, exhibiting a CAGR of 3.1% during the forecast period. Growing number of urban dwellers around the world will be a leading factor propelling this market in the near future, states Fortune Business Insights™ in its report, titled “Frozen Foods Market Size, Share & Industry Analysis, By Type (Frozen Vegetables and Fruits, Frozen Ready Meals, Frozen Pizza, Frozen Seafood, Frozen Meat Products, Frozen Potato Products, Frozen Baked Products, and Others), Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Convenience Stores, and Online Retail), and Regional Forecast, 2020-2027”. Urbanization is gaining considerable traction worldwide, underpinned by speedy economic growth and development, especially in Asia and Africa. According to the UN Department of Economic and Social Affairs (DESA), urban areas, which house roughly 55% of the global population at present, will be home to nearly 70% of the world population by 2050. Put differently, over 2 billion people will be added to the world’s urban areas in the next three decades, with Asian and African countries leading the charge. Urban agglomerates are typically characterized by the widespread presence of supermarkets, hypermarkets, and departmental stores. Frozen food products are some of the most prominent items on shelves at these facilities owing to their high demand among the working populace. Thus, expansion of urban areas is expected to favor the growth of this market during the forecast period.

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