Posted On: 2020-05-15
Middle East and Africa frozen food market is expected to surge in the forecast period on account of rising preference towards convenient food options by working women force in the region – 6Wresearch
Middle East and Africa frozen food market is expected to grow exponentially on account of growing urbanization, increasing women workforce in the corporate world, and rising disposable income. Moreover, growing companies, spending on expansion of the product line to introduce attractive marketing policies have also propelled the growth of the frozen food market in the Middle East & Africa region.
According to 6Wresearch, Middle East And Africa (MEA) Frozen Food Market size is projected to grow at a CAGR of 7.6% during 2020-2026. With saturating European and American markets, major global frozen food manufacturers are witnessing potential for growth in the Middle East and Africa frozen food market. Due to this, many international brands are investing in the market, leading to an increase in the consumption of frozen food by consumers. The Middle East & Africa frozen food market would be also be impacted by COVID-19 as the governments of various countries have initiated lockdown on the account of which people are stocking up on their daily essential items to meet the future requirements. However, the economic slowdown and dampening of production capacity resulting from the health emergency is expected to impede the Middle East & Africa frozen food market growth in the first half of 2020.
According to Akshay Thakur, Senior Research Analyst, Research and Consulting, 6Wresearch, “By countries, Saudi Arabia captured the maximum revenue share in the overall Middle East & Africa frozen food market in 2019 on account of better distribution channel and rising young population and work culture in the country who prefer the convenience and on the go sort of foods which is driving the growth of frozen food products in the country.”
According to Eshita Goel, Research Associate, Research and Consulting, 6Wresearch, “By distribution channels, offline distribution channel holds the majority of market revenue share due to expanding distribution network of the region through supermarkets and hypermarkets and increasing technological advancements in the cold chain industry. However, the online distribution channel is projected to have higher growth in the coming years due to better promotional schemes, doorstep delivery, and convenience offered by such channel which would bode well for the demand for frozen food products in the Middle East & Africa region.”
Some of the major companies in the Middle East and Africa frozen food market include Al Islami, Kerevitaş, Al Qudwa Foodstuff, and Sadia.
“Middle East and Africa Frozen Food Market (2020-2026)” report provide in-depth analysis with 50 figures and 40 tables, covered in more than 100 pages. The report estimates and forecasts the overall Middle East and Africa Frozen Food market by product types, by end-users, by distribution channels, by countries, and by freezing techniques. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.