>> Frozen food once frowned upon as unhealthy, uninspired, and tasteless has recently become immensely popular among busy millennials, with some even willing to pay more for healthier frozen options. The trend has food giant Nestle and its rivals spending millions of dollars ramping up production. Selling frozen food with fewer preservatives in simpler and more attractive packaging.
Reuters correspondent, Richa Naidu.>> The market is looking for healthier, convenient, easy to cook meals that are also trendy and fashionable with ingredients like avocados. The market, however, is incredibly competitive and has been for several years. But now more so than ever as this demand has gotten a lot of food companies very excited.
>> Despite being the number one food company in the world, Nestle was not prepared for the frozen food craze. Analysts say Nestle has trailed behind ConAgra, General Mills ,and Pinnacle Foods in releasing high priced premium meals that are also perceived as healthy.>> 70% organic, here's the side panel with some of the ingredients over there.
>> Now Nestle, late to the party, is working hard to catch up.>> And he's gonna make with butter squash, ham and prosciutto.>> At its sprawling frozen foods Research and Development facility in Ohio, Nestle has been revamping its existing brands, like Stouffer's Fit Kitchen, Lean Cuisine and DiGiornos.
It's developing new gourmet dishes that it says are flash frozen at the source. Which experts say preserves more nutrients than shipped produce. Nestle also bought trendy vegan frozen brand, Sweet Earth in September, doubling down on its bet that the frozen food trend won't thaw anytime soon.