The global frozen food market, valued at $122.1 billion in 2013, is projected to grow at a compound annual growth rate of 3.6 percent from 2014 to 2020, reaching an estimated $156.4 billion by 2020, according to a new report from Persistence Market Research.
According to researchers, “busy life schedule is influencing consumers to shift their dietary preferences towards ready-to-eat food products. Hence, frozen foods have become an important part of the modern diet.”