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. Assumption & Limitation
  3. Executive Summary
  4. Global Frozen Food Market Insights
    1. Industry Value Chain Analysis
    2. GROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
    3. Technological Landscape/Recent Development
    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 Plant-Based ProteinMarket Overview
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. ByProduct
        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
      1. By Distribution Channel
        1. Online retail
        2. Convenience Stores
        3. Supermarkets/Hypermarkets
        4. others
      2. By End-User
        1. Food Service Industry
        2. Retail Customers
        3.  
      3. By Region
        1. North America
        2. Europe
        3. Asia-Pacific
        4. Latin America
        5. Middle-East and Africa
  4. North America Frozen Food Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Type
      2. Category
      3. By Distribution Channel
      4. By End-User
      5.  By Region
        1. United States
        2. Canada
  5. Europe Frozen Food Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Type
      2. By Category
      3. By Distribution Channel
      4. By End-User
      5. By Region
        1. Germany
        2. United Kingdom
        3. Italy
        4. France
        5. Spain
        6. Rest of Europe
  6. Asia Pacific Frozen Food Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Type
      2. By Category
      3. By Distribution Channel
      4. By End-User
      5. By Region
        1. China
        2. India
        3. Japan
        4. South Korea
        5. Rest of Asia Pacific
  7. Latin America Frozen Food Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Type
      2. By Category
      3. By Distribution Channel
      4. By End-User
      5. By Region
        1. Brazil
        2. Mexico
        3. Rest of Latin America
  8. Middle East & Africa Frozen Food Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Type
      2. By Category
      3. By Distribution Channel
      4. By End-User
      5. By Region
        1. Saudi Arabia
        2. UAE
        3. South Africa
        4. Rest of the Middle East & Africa
  9. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Market Share Analysis, 2021
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Development (Merger, Acquisition, Partnership.)
  10. Impact of COVID-19 on Frozen Food Industry
  11. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
    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.
  12. Key Strategic Recommendations

 

List of Figures

 

Figure 1        Global Frozen Food Market Segmentation

Figure 2        Global Frozen Food Market Value Chain Analysis

Figure 3        Company Market Share Analysis, 2022

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

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

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

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

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

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

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

 

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

 

List of Tables

 

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Table 24        The Middle East & Africa Frozen 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        Kraft Heinz Company (US) Company Overview

Table 36        Kraft 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 playersCompany Overview

Table 62        Other prominent playersFinancial Overview

Market Segmentation

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)
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