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Frozen Food Market

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Frozen Food Market - Global Industry Size, Share, Trend Analysis and Forecast Report, 2018-2028, Segmented By Product (Frozen Fruits & Vegetables, Frozen Meat & Seafood, Frozen Ready Meals, Frozen Snacks and Dairy products, Frozen Desserts, Frozen & Refrigerated Soups, and Others), By Category (Raw Material ready-to-eat,and ready-to-cook,), By Distribution Channel (Online Retail, Convenience Stores, Supermarkets/Hypermarkets, and Others), By End User (Food Service Industry, and Retail Customers) By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA)

  • Published Date: June 2022
  • Report ID: BWC21101
  • Available Format: PDF
  • Page: 186

Report Overview

Global Frozen Food Market is flourishing at a high CAGR owing to the rising demand for convenience food like ready-to-eat meals, as well as changing lifestyles, and food habits resulting in huge demand for frozen food due to lack of time for consumers...

Global Frozen Food Market- Industry Trends & Forecast Report 2028

The global Frozen Food Market was worth USD 268.3 billion in 2022 and is further projected to reach USD 392.4 billion by the year 2028, growing at a CAGR of 6.2% during the forecast period (2023-2028). The market is showing robust growth at a high rate owing to the rising preference of consumers for Frozen Food products due to the adoption of longer shelf-life products, huge demand for ready-to-eat products as people have less time for preparing fresh meals. Moreover, the growing usage of frozen food in food giants such as KFC, Pizza Hut, Subway, McDonald’s,  as well as by restaurants, hotels, cafeterias, and resorts acts as a key driver for the growth of the Global Frozen Food market during the forecast period. Furthermore, the rising popularity of gluten-free, grain-free, protein-rich diets due to increasing health awareness across the globe accelerates the growth of the Global Frozen Food Market.

Frozen Food Market

Frozen Food – Overview

Frozen Food is a type of food product that is associated with rapid freezing by preserving under low temperatures for a long period until used.  Frozen food gets preserved due to such freezing low temperatures. Frozen food saves time, has long durability, which prevents the growth of bacteria due to freezing temperatures. This makes it   convenient in household and restaurants to make the cooking processes more efficient. Some common frozen food is Ice cream, chips, frozen vegetables, fruit, plain chicken, sausages, pizza, burgers, sweet corn, Desserts, bread, ready-to-eat meals, frozen snacks, and others.

Global Frozen Food Market Forecast and Trends

Growth Drivers

Increasing Demand for Convenience Food

The rising awareness and shifting preferences of consumers toward an easy to prepare, convenience food products, act as major driving factors for the Global Frozen Food Market. The changing food habits among the millennial population in western countries are fueling the demand for Frozen food products to save their time and enjoy the taste of food conveniently. The increasing demand for longer shelf life and gluten-free food products owing to their health benefits also propels the growth of the Frozen Food market. Moreover, rising consumer interest in Frozen meat and seafood, Frozen Dairy or snacks, and Refrigerated soups, sausages are boosting the growth of the market globally. The increasing purchasing power of consumers is creating dependence on frozen food products, consequently, increasing the demand for frozen food products leading to influence the growth of Global Frozen Food Market during the forecast period.

Rising Women's Employment across the Globe

The significant  increase in Women's Employment rate in the recent years  globally act as a major driving factor for the growth of the Global Frozen Food Market during the forecast period. This is because of the hectic schedules of working women, as it is difficult for them to cook fresh meals everyday which in turn increases the purchasing power of frozen ready-to-eat or ready-to-cook food products thereby driving the growth of the market. This trend is likely to continue during the forecast period (2023-2028) for the growth of the Global Frozen Food Market. 

Restraints

Rising Preference for Fresh and Natural Food

Frozen Food is considered a subordinate substitute for fresh food among some consumers, which is the main restraining factor of the market. Some consumers believe that edible food e when stored or processed for a year or more before it is consumed loses its nutrition content. However, according to US Food Administration (FDA), and the International Food Information Council (IFIC), ‘Frozen Food can be as good as the fresh and natural food in terms of nutrition’. Since frozen food is preserved at a low temperature, they do not lose essential nutrients. Moreover, some consumers are more concerned about the freshness of the product so they prefer fresh and natural fruits as well as vegetables, which in turn decline the growth of the Global Frozen Food Market.

Impact of COVID-19 on Global Frozen Food Market

The sudden outbreak of COVID-19 resulted both positively and negatively in the growth of the Global Frozen Food Market. Initially, the sales declined  as many productions halted during the complete lockdown, also the production faced a huge shortage of raw materials and a stop in processing and distribution operations. However, after the spread of the COVID-19 virus, the demand for Frozen Food increased at a steady rate owing to its longer shelf-life than fresh veggies, fruits, and meat, also because of its property of retaining nutrition for a long time. But people could not go outside their houses to visit the markets due to worldwide lockdown with restricted norms. This pandemic fueled the demand for Frozen Food thereby increasing the growth of the Global Frozen Food Market during the forecast period.

Global Frozen Food Market - By Product

Based on Product, the Global Frozen Food Market is segmented into Frozen Fruits & Vegetables, Frozen Meat & Seafood, Frozen-Ready Meals, Frozen Snacks, and Dairy products, Frozen Desserts, Frozen & Refrigerated Soups, and Others. The Frozen-Ready Meals segment accounts for the largest market share followed by Frozen Meat and Seafood owing to its high nutritional value, extended shelf-life of frozen food, changing lifestyles, and busy schedules of people driving this segment in the Global Frozen Food market during the forecast period.

Global Frozen Food Market – By Category

Based on Category, the Global Frozen Food Market is segmented into Raw Material, ready-to-eat, and ready-to-cook.  The ready-to-cook segment dominates the market owing to the rising population, increasing disposable incomes, and working women which are driving the growth of this segment globally that saves time and helps in increasing efficiency in cooking process globally.

Global Frozen Food Market - By Distribution Channel

Based on Distributional Channel, the Global Frozen Food Market is segmented into Online Retail, Convenience Stores, Supermarkets/Hypermarkets, and others. The Supermarkets/ Hypermarkets segment accounts for the largest market share as the demand for Frozen Food increased enormously during the COVID-19 pandemic.  The rapidly growing business of supermarkets boosted the sales of Frozen Fruits & Vegetables, Frozen Meat & Seafood, Frozen-Ready Meals, Frozen Snacks and Dairy products and a variety of Frozen food are available in these supermarkets, thereby, accelerating the growth of the Global Frozen Food market.

Global Frozen Food Market – By End-User

Based on End-User, the Frozen Food market is segmented into Food Service Industry, and Retail Customers. The Food Service Industry segment is expected to dominate the market during the forecast period owing to the major consumers of frozen food associated with the food and service industry. The food-service industry includes hotels, fast-food restaurants, caterers, and others, which fuel the demand and growth of the Global Frozen food Market during the forecast period.

Global Frozen Food Market - Regional Insights

Geographically, the Global Frozen Food market is segmented into North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA). The Europe segment accounts for the largest share in the market owing to the higher population rate, rising purchasing power, busy lifestyle, and availability of various food and bakery giants. 

Competitive Landscape

The leading market players in the Global Frozen Food market are Nestle SA (Switzerland), Unilever (Netherlands), General Mills Inc (US), McCain Foods Limited (Canada), Conagra Brands, Inc. (US), Kraft Heinz Company (US), Associated British Foods plc (UK), Ajinomoto (Japan), Cargill (US), JBS (Brazil), Grupo Bimbo S.A.B. de C.V. (Mexico), Kellogg Company (US), Kuppies (India), Aryzta (US), OOB Organics (New Zealand), Omar International Pvt Ltd (India), Tyson Foods, Inc. (Arizona, US), Shishi He Deming Co., Ltd (China), and other prominent players.

The Global Frozen Food market is highly consolidated with the presence of multinational Food and beverages companies. These companies constantly launch a wide range of products with innovations to attract consumers and significantly invest in research and development activities to further innovate their offerings. Furthermore, the adoption of competitive strategies such as partnerships, mergers, acquisitions, collaborations, etc., is also prominent in this market.

Recent Developments

  • In 2021, Tyson Foods Inc. launched a new line of plant-based products in select retail markets and e-Commerce across the Asia-Pacific under the brand First Pride, which will introduce frozen Bites, Nuggets, and Strips made with plants.

  • In November 2018, Nestle launched Wildscape, a range of healthy frozen meals in reusable and recyclable containers. Wildscape meals include six different varieties, such as the gochujang cauliflower with Brussel sprouts, quinoa, chickpeas, pickled onions, and riced cauliflower, and cashews.

Scope of the Report

Attributes

Details

Years Considered

Historical data – 2018-2021

Base Year – 2022

Forecast – 2023 – 2028

Facts Covered

Revenue in USD Billion

Market Coverage

North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA

Product Service/Segmentation

By Product, By Category, By Distribution Channel, By End User, By Region

Key Players

Nestle SA (Switzerland), Unilever (Netherlands), General Mills Inc (US), McCain Foods Limited (Canada), Conagra Brands, Inc. (US), Kraft Heinz Company (US), Associated British Foods plc (UK), Ajinomoto (Japan), Cargill (US), JBS (Brazil), Grupo Bimbo S.A.B. de C.V. (Mexico), Kellogg Company (US), Kuppies (India), Aryzta (US), OOB Organics (New Zealand), Omar International Pvt Ltd (India), Tyson Foods, Inc. (Arizona, US), Shishi He Deming Co., Ltd (China), and other prominent players.

 

By Product

  • Frozen Fruits & Vegetables

  • Frozen Meat & Seafood

  • Frozen-Ready Meals

  • Frozen Snacks and Dairy products

  • Frozen Desserts

  • Frozen & Refrigerated Soups

  • Others

By Category

  • Raw Material

  • Half Cooked

  • ready-to-eat

  • ready-to-cook

  • ready-to-drink

By Distribution Channel

  • Online retail

  • Convenience Stores

  • Supermarkets/Hypermarkets

  • others

By End-User

  • Food Service Industry

  • Retail Customers

By Region

  • North America

  • Europe

  • Asia-Pacific (APAC)

  • Latin America (LATAM)

  • Middle-East & Africa (MEA)

 

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Research Methodology
    1.    Qualitative Research
      1.  Primary & Secondary Research
    2.    Quantitative Research
    3.    Market Breakdown & Data Triangulation
      1.  Secondary Research
      2.  Primary Research
    4.    Breakdown of Primary Research Respondents, By Region
    5.    Assumptions & Limitations
  3. Executive Summary
  4.  Global Frozen Food Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
    3. Technology Advancements/Recent Developments
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  5.  Global Frozen Food Market Overview
    1. Market Size & Forecast, 2018–2028
      1. By Value (USD Million)
    2. Market Share and Forecast
      1. By Product
        1. Frozen Fruits & Vegetables
        2. Frozen Meat & Seafood
        3. Frozen- Ready Meals
        4. Frozen Snacks and Dairy products
        5. Frozen Desserts
        6. Frozen & Refrigerated Soups
        7. Others
      2. By Category
        1. Raw Material
        2. Ready-to-eat
        3. Ready-to-cook
      3. By Distribution Channel
        1. Online Retail
        2. Convenience Stores
        3. Supermarkets/Hypermarkets
        4. Others
      4. By End User
        1. Food Service Industry
        2. Retail Customers
      5. By Region
        1. North America
        2. Europe
        3. Asia Pacific (APAC)
        4. Latin America (LATAM)
        5. Middle East and Africa (MEA)
  6. North America Frozen Food Market
    1. Market Size & Forecast, 2018–2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Product
      2. By Category
      3. By Distribution Channel
      4. By End User
      5. By Country
        1. United States
        2. Canada
  7. Europe Frozen Food Market
    1. Market Size & Forecast, 2018–2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Product
      2. By Category
      3. By Distribution Channel
      4. By End User
      5. By Country
        1. Germany
        2. United Kingdom
        3. Italy
        4. France
        5. Spain
        6. Rest of Europe
  8. Asia Pacific Frozen Food Market
    1. Market Size & Forecast, 2018–2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Product
      2. By Category
      3. By Distribution Channel
      4. By End User
      5. By Country
        1. China
        2. India
        3. Japan
        4. South Korea
        5. Rest of APAC
  9. Latin America Frozen Food Market
    1. Market Size & Forecast, 2018–2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Product
      2. By Category
      3. By Distribution Channel
      4. By End User
      5. By Country
        1. Brazil
        2. Mexico
        3. Rest of LATAM
  10. Middle East & Africa Frozen Food Market
    1. Market Size & Forecast, 2018–2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Product
      2. By Category
      3. By Distribution Channel
      4. By End User
      5. By Country
        1. Saudi Arabia
        2. UAE
        3. South Africa
        4. Rest of MEA
  11. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Global Frozen Food Market Share Analysis, 2022
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
  12. Impact of Covid-19 on India Worm Gear Reducers Market
  13. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
    1. Nestle SA (Switzerland)
    2. Unilever (Netherlands)
    3. General Mills Inc (US)
    4. McCain Foods Limited (Canada)
    5. Conagra Brands, Inc. (US)
    6. kraft Heinz Company (US)
    7. Associated British Foods plc (UK)
    8. Ajinomoto (Japan), Cargill (US)
    9. JBS (Brazil)
    10. Grupo Bimbo S.A.B. de C.V. (Mexico)
    11. Kellogg Company (US)
    12. Kuppies (India)
    13. Aryzta (US)
    14. OOB Organics (New Zealand)
    15. Omar International Pvt Ltd (India)
    16. Tyson Foods, Inc. (Arizona, US)
    17. Shishi He Deming Co., Ltd (China)
    18. Other prominent players.
  14. Key Strategic Recommendations

 

*Financial information of case of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable

 

 

List of Figures

Figure 1       Global Frozen Food Market Segmentation

Figure 2       Global Frozen Food Market Food Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2022

Figure 4       Global Frozen Food Market Size, By Value (USD Million), 2018-2028

Figure 5       Global Frozen Food Market Share, By product, By Value, 2018-2028

Figure 6       Global Frozen Food Market Food Market Share, By Distribution Channel, By Value, 2018-2028

Figure 7       Global Frozen Food Market Food Market Share, By End-User, By Value, 2018-2028

Figure 8       Global Frozen Food Market Food Market Share, By Region, By Value, 2018-2028

Figure 9       North America Frozen Food Market Food Market Size, By Value (USD Million), 2018-2028

Figure 10     North America Frozen Food Market Food Market Share, By Product, By Value, 2018-2028

Figure 11     North America Frozen Food Market Food Market Share, By Distribution Channel, By Value , 2018-2028

Figure 12     North America Frozen Food Market Food Market Share, By End-User, By Value, 2018-2028

Figure 13     North America Frozen Food Market Food Market Share, By Country, By Value, 2018-2028

Figure 14     Europe Frozen Food Market Food Market Size, By Value (USD Million), 2018-2028

Figure 15     Europe Frozen Food Market Food Market Share, By Type, By Value, 2018-2028

Figure 16     Europe Frozen Food Market Food Market Share, By Distribution Channel, By Value, 2018-2028

Figure 17     Europe Frozen Food Market Food Market Share, By End-User, By Value, 2018-2028

Figure 18     Europe Frozen Food Market Food Market Share, By Country, By Value, 2018-2028

Figure 19     The Asia-Pacific Frozen Food Market Food Market Size, By Value (USD Million), 2018-2028

Figure 20     The Asia-Pacific Frozen Food Market Share, By Product, By Value, 2018-2028

Figure 21     The Asia-Pacific Frozen Food Market Food Market Share, By Distribution Channel, By Value, 2018-2028

Figure 22     The Asia-Pacific Frozen Food Market Food Market Share, By End-User, By Value, 2018-2028

Figure 23     The Asia-Pacific Frozen Food Market Food Market Share, By Country, By Value, 2018-2028

Figure 24     Latin America Frozen Food Market Food Market Size, By Value (USD Million), 2018-2028

Figure 25     Latin America Frozen Food Market Food Market Share, By Product, By Value, 2018-2028

Figure 26     Latin America Frozen Food Market Food Market Share, By Distribution Channel, By Value, 2018-2028

Figure 27     Latin America Frozen Food Market Food Market Share, By End-user, By Value, 2018-2028

Figure 28     Latin America Frozen Food Market Food Market Share, By Country, By Value, 2018-2028

Figure 29     The Middle East & Africa Frozen Food Market Food Market Size, By Value (USD Million), 2018-2028

Figure 30     The Middle East & Africa Frozen Food Market Food Market Share, By Product, By Value, 2018-2028

Figure 31     The Middle East & Africa Frozen Food Market Food Market Share, By Density, By Value, 2018-2028

Figure 32     The Middle East & Africa Frozen Food Market Food Market Share, By Vertical, By Value, 2018-2028

Figure 33     The Middle East & Africa Frozen Food Market Food Market Share, By Country, By Value, 2018-2028

 

List of Tables

 

Table 1 Global Frozen Food Market Food Market Size, By Type, By Value, 2018-2028

Table 2 Global Frozen Food Market Food Market Size, By Distribution Channel, By Value, 2018-2028

Table 3 Global Frozen Food Market Food Market Size, By End-User, By Category, 2018-2028

Table 4 Global Frozen Food Market Food Market Size, By Region, By Value, 2018-2028

Table 5 North America Frozen Food Market Food Market Size, By Product, By Value, 2018-2028

Table 6 North America Frozen Food Market Food Market Size, By Distribution Channel, By Category, 2018-2028

Table 7 North America Frozen Food Market Food Market Size, By End-User, By Value, 2018-2028

Table 8 North America Frozen Food Market Food Market Size, By Country, By Value, 2018-2028

Table 9 Europe Frozen Food Market Food Market Size, By Product, By Value, 2018-2028

Table 10      Europe Frozen Food Market Food Market Size, By Distribution Channel, By Value, 2018-2028

Table 11      Europe Frozen Food Market Food Market Size, By Category, By Value, 2018-2028

Table 12      Europe Frozen Food Market Food Market Size, By Country, By Value, 2018-2028

Table 13      The Asia-Pacific Frozen Food Market Food Market Size, By Category, By Value, 2018-2028

Table 14      The Asia-Pacific Frozen Food Market Food Market Size, By Distribution Channel, By Value, 2018-2028

Table 15      The Asia-Pacific Frozen Food Market Food Market Size, By End-User, By Value, 2018-2028

Table 16      The Asia-Pacific Frozen Food Market Food Market Size, By Country, By Value, 2018-2028

Table 17      Latin America Frozen Food Market Food Market Size, By Product, By Value, 2018-2028

Table 18      Latin America Frozen Food Market Food Market Size, By Distribution Channel, By Value, 2018-2028

Table 19      Latin America Frozen Food Market Food Market Size, By End-User, By Value, 2018-2028

Table 20      Latin America Frozen Food Market Food Market Size, By Country, By Value, 2018-2028

Table 21      The Middle East & Africa Frozen Food Market Food Market Size, By Category, By Value, 2018-2028

Table 22      The Middle East & Africa Frozen Food Market Food Market Size, By Distribution Channel, By Value, 2018-2028

Table 23      The Middle East & Africa Frozen Food Market Food Market Size, By End-User, By Value, 2018-2028

Table 24      The Middle East & Africa Frozen Food Market Food Market Size, By Country, By Value, 2018-2028

Table 25      Nestle SA (Switzerland)Company Overview

Table 26      Nestle SA (Switzerland) Financial Overview

Table 27      Unilever (Netherlands) Company  Overview

Table 28      Unilever (Netherlands) Financial Overview

Table 29      General Mills Inc (US) Company Overview

Table 30      General Mills Inc (US) Financial Overview

Table 31      McCain Foods Limited (Canada) Company Overview

Table 32      McCain Foods Limited (Canada) Financial Overview

Table 33      Conagra Brands, Inc. (US) Company Overview

Table 34      Conagra Brands, Inc. (US) Financial Overview

Table 35      kKraft Heinz Company (US) Company Overview

Table 36      kKraft Heinz Company (US) Financial Overview

Table 37      Associated British Foods plc (UK)Company Overview

Table 38      Associated British Foods plc (UK) Financial Overview

Table 39      Ajinomoto (Japan) Company Overview

Table 40      Ajinomoto (Japan) Financial Overview

Table 41      Cargill (US)Company Overview

Table 42      Cargill (US)Financial Overview

Table 43      JBS (Brazil)Company Overview

Table 44      JBS (Brazil)Financial Overview

Table 45      Grupo Bimbo S.A.B. de C.V. (Mexico) Company Overview

Table 46      Grupo Bimbo S.A.B. de C.V. (Mexico ) Financial Overview

Table 47      Kellogg Company (US)Company Overview

Table 48      Kellogg Company (US)Financial Overview

Table 49      Kuppies (India)Company Overview

Table 50      Kuppies (India)Financial Overview

Table 51      Aryzta (US) Company Overview

Table 52      Aryzta (US)Financial Overview

Table 53        OOB Organics (New Zealand) Company Overview

Table 54        OOB Organics (New Zealand) Financial Overview

Table 55        Omar International Pvt Ltd (India)Company Overview

Table 56        Omar International Pvt Ltd (India)Financial Overview

Table 57        Tyson Foods, Inc. (Arizona, US) Company Overview

Table 58        Tyson Foods, Inc. (Arizona, US) Financial Overview

Table 59        Shishi He Deming Co., Ltd (China)Company Overview

Table 60        Shishi He Deming Co., Ltd (China)Financial Overview

Table 61        Other prominent players Company Overview

Table 62        Other prominent players Financial Overview

Market Segmentation

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Frequently Asked Questions (FAQs):

Ans: Global Frozen Food market reached USD 268.3 billion in 2022.
Ans: The major factors driving the growth of the Global Frozen Food Market are changing lifestyles, increasing women's employment rate along with rising demand for convenience food.
Ans: The key players in the Global Frozen Foodmarket are: Nestle SA (Switzerland), Unilever (Netherlands), General Mills Inc (US), McCain Foods Limited (Canada), Conagra Brands, Inc. (US), Kraft Heinz Company (US), Associated British Foods plc (UK), Ajinomoto (Japan), Cargill (US), JBS (Brazil), Grupo Bimbo S.A.B. de C.V. (Mexico), Kellogg Company (US), Kuppies (India), Aryzta (US), OOB Organics (New Zealand), Omar International Pvt Ltd (India), Tyson Foods, Inc. (Arizona, US), Shishi He Deming Co., Ltd (China), and other prominent players.
Ans: The Food Service Industry segment accounted for the largest share of the Frozen Food Market.
Ans: Europe has the largest share in the Global Frozen Food market.