(MENAFN- GlobeNewsWire - Nasdaq) Frozen food in the Middle East and North Africa, a pivotal segment in the Food and Beverage industry, reflects a rising trend. Convenience, diverse product offerings, and changing consumer lifestyles contribute to the increasing popularity of frozen options in the region.
NEWARK, Del, Dec. 04, 2023 (GLOBE NEWSWIRE) -- The value of the Middle East and North Africa frozen food market is projected to hit US$ 1,453.2 million in 2023. The MENA frozen food market is anticipated to surge at a CAGR of 2.5% from 2023 to 2033, achieving a value of US$ 1,863.40 million.
The key factor strengthening the market growth is the expansion of retail outlets selling frozen food. Supermarkets, hypermarkets, and specialized shops are becoming more prevalent, which is indicative that the organized retail sector is witnessing a considerable expansion. Frozen food products are typically sold by large organized stores. Therefore, the MENA frozen food market growth is expected to be fueled by the expansion of retail outlets.
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Innovative Freezing Solutions Paves the Way for Frozen Food Market Growth in MENA
The manufacturers employ a variety of tactics to gain a competitive edge in the Middle East and North Africa frozen food industry. With various technological advancements, they are attempting to increase the frozen food industry's quality and shelf life. The effective strategy utilized by vendors to prevent the loss of nutrients in frozen foods is innovative pouch packaging.
Customers may remove frozen food from the refrigerator and microwave it right away owing to the company's innovative packaging technique. With more inventive packaging options becoming available, more vendors may start to provide them, which might cut down on the use of plastic packaging.
MENA Frozen Food Market Faces Deep Freeze as Natural Alternatives Heat Up
Few customers believe that frozen food is less important than fresh food, which is one of the primary problems slowing the frozen foods industry. Aside from that, nutrients like folate and vitamin C can change owing to temperature changes, and food products stored at different temperatures might lose nutritional value.
Frozen food is stored at a lower temperature and does not lose essential elements. People believe that frozen food can also lose critical nutrients. This could stifle Middle East and North Africa frozen food market growth.
The Power of Evolving Lifestyles and Living Standards Spurring Market Growth
The primary growth factors for the market are evolving lifestyles and rising living standards. The youth's widespread use of instant foods and ready-to-eat diets might thrive market trends. The Middle East and North Africa frozen food market size may strengthen due to consumers' preference for quick-cooking foods and convenience diets. In addition, the increase in working women and female entrepreneurs has also made a significant contribution to market profits.
Due to easy access to new freezing technologies that extend food's shelf life and support market expansion, frozen vegetables and frozen fruits have accounted for the leading market share. The market boom may be driven by an increase in per capita income.
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Saudi Arabia takes precedence of the Middle East and North Africa frozen food market due to an increase in dual-income households, which stimulates demand for simple meal options. The future of the frozen food sector is dependent on consumer preferences for frozen sweets, ready-to-eat meals, and frozen meats. Siwar Foods, a Saudi FMCG company, discovered that while buying frozen food, consumers emphasize taste, variety, quality, and price.
Saudi Arabia, like the other Gulf countries, relies significantly on imports due to a lack of food self-sufficiency. Therefore, frozen food products are popular in the region due to their retail stability and ease of importing.
By category, the ready-to-eat product sector dominates the global MENA frozen food market. The ready-to-eat product category is expected to evolve at a 4.9% CAGR until 2033. The vegetables and fruits sector by type division accounts for a sizable portion of the MENA frozen food market. Through 2033, the vegetables and fruits segment are expected to advance at a CAGR of 5.1%.
“The Middle East and North Africa frozen food market is experiencing notable growth. The surge is propelled by evolving consumer preferences, emphasizing convenience and a diverse range of frozen options within the Food and Beverage sector. Our findings underscore a promising landscape for industry stakeholders to navigate and capitalize upon in this dynamic regional market,” Says Nandini Roy Choudhury , Client Partner at Future Market Insights.
Due to the existence of numerous international firms, the Middle East and North Africa frozen food market is highly fragmented. The leading MENA frozen food manufacturers, which have huge consumer bases, well-known brands, and extensive distribution networks, compete fiercely with the market's players.
To stay competitive, businesses have been employing a variety of expansion methods, including alliances and the introduction of new products.
Key Middle East and North Africa Frozen Food Manufacturers
Aryzta A.G. Ajinomoto Co. Inc. Cargill Incorporated General Mills Inc. JBS S.A. Kellogg Company The Kraft Heinz Company Nestle S.A. ConAgra Brands, Inc. Associated British Foods Plc.
Prasuma, an Indian company in the chilled meat and frozen foods industries, announced the launch of new frozen foods in April 2022, expanding its frozen food product line. The program to assist the company in growing its frozen food business in India.
The second-leading meat processing and marketing company in the United States, Tyson Foods Inc., announced in February 2022 that it planned to construct a new facility in Kentucky. The action is intended to thwart its intentions to invest about US$ 355 million in growing its bacon manufacturing.
Buy now for detailed information on every segment:
Frozen Fruits and Vegetables Frozen Meat and Fish Frozen Desert Frozen Snacks Frozen Cooked Ready Meals Other
Ready-to-eat Ready-to-cook Ready-to-drink Others
By Distribution Channel:
Supermarkets & Hypermarkets Convenience Stores Online Channels Others
By Freezing Technique:
Blast Freezing of Foods Belt Freezing of Foods Individual Quick Freezing (IQF) of Foods Others
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor's Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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