Conagra's bet on frozen food appears to be working. The company introduced a number of new products this year around today's trends, including food bowls by its Healthy Choice and Banquet brands that adopt the concept fast-casual restaurants have popularized.
Appetite for frozen meals appears to be growing across the aisle, with dollar sales increasing 2 percent in the year ended Oct. 28, according to Nielsen. That's an increase of 4.3 percentage points from the year ended Nov. 1, 2014, when frozen meal sales declined 2.3 percent.
Conagra CEO Sean Connolly believes the category will continue to grow for years. Consumers are buying more fresh food, but he thinks millennials will venture down the frozen aisle as they try to save money and find food that accommodates their flexible schedules.
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