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The Frozen and Convenience Food market size is projected to increase by USD 468.9 billion at a CAGR of 8.09% between 2023 and 2028. The frozen food industry is experiencing significant growth due to several key trends. First, there is a growing consumer inclination toward vegan and plant-based options, driving the demand for vegan frozen foods. Second, the expansion of retail stores offering frozen and convenience foods has increased accessibility and convenience for consumers. Third, major food manufacturers and brands are launching new frozen and convenience food products to meet this demand. For instance, Nestle's Garden Gourmet brand recently introduced a line of vegan frozen meals, while Tyson Foods entered the plant-based market with its Raised and Rooted brand. These trends are expected to continue shaping the frozen food market in the coming years.
One of the main factors driving the market is the growing consumer inclination toward vegan frozen foods. There is an increasing preference for vegan food among the consumer segment. The main segments in vegan food include plant-based food products and plant-based dairy alternatives. There is a significant increase in demand for vegan foods in so many countries, especially the UK and the US. This demand is further fuelled by the rising demand for meat alternatives among consumers in these countries. As a result, several companies in the market are launching new frozen vegan products to cater to consumer preferences. For instance, in January 2020, Nestle SA introduced plant-based sausages in Europe and the US. By the introduction of this product line, the company is catering to the consumer demand for meat-free evening meals. Hence, such factors are expected to drive the global market during the forecast period.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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