The global market for frozen foods is expected to increase from $218.41bn in 2010 to $261.5bn by 2015, according to a report published by MarketsandMarkets.

The study predicts that the market will grow at a compound annual growth rate of 3.7%.

Compound annual growth rate (CAGR) is expected to be a moderate 4% in the US while the rest of the world is expected to grow at a rate of 4.7%.

Germany is the biggest consumer in Europe with a consumption of 6.4 million tons of frozen food while Japan leads the Asian countries list with frozen food consumption of 7.82 million tons in 2010.

In product type, frozen pizza is the fastest growing product in the frozen meals segment with an estimated CAGR of 4%.