The global Frozen Food market size was valued at USD 286.45 billion in 2023 and is projected to expand at a compound annual growth rate (CAGR) of 4.9% during the forecast period, reaching a value of USD 425.38 billion by 2030.
Frozen Food market research report by Future Data Stats, offers a comprehensive view of the market's historical data from 2018 to 2021, capturing trends, growth patterns, and key drivers. It establishes 2022 as the base year, analyzing the market landscape, consumer behavior, competition, and regulations. Additionally, the report presents a well-researched forecast period from 2023 to 2030, leveraging data analysis techniques to project the market's growth trajectory, emerging opportunities, and anticipated challenges.
MARKET OVERVIEW:
Frozen food refers to food items that have been subjected to a freezing process to preserve them for an extended period. In this method, food is rapidly cooled to sub-zero temperatures, inhibiting the growth of microorganisms and enzymes that can cause spoilage. The freezing process maintains the nutritional value and flavor of the food, making it an accessible and convenient option for consumers. From frozen fruits and vegetables to ready-made meals and meat products, frozen food offers a wide variety of choices for those looking for a longer shelf life without compromising taste and quality.
Consumers appreciate frozen food for its convenience and versatility. It allows people to stock their freezers with a range of food items, ensuring they have quick, hassle-free options for meals. Whether it's frozen vegetables to accompany a home-cooked dinner or frozen pizzas for a simple evening meal, frozen food is a practical solution for today's busy lifestyles. Additionally, it can reduce food waste as it extends the shelf life of many products, contributing to sustainability efforts in the food industry.
MARKET DYNAMICS:
Shifting consumer lifestyles and increased urbanization have led to a rising demand for convenient meal solutions. Frozen food offers a time-saving option for busy individuals and families. Furthermore, the growing awareness of food preservation techniques and a desire for year-round access to seasonal produce are driving the demand for frozen fruits and vegetables. The pandemic has also played a role, with consumers increasingly relying on frozen food as a way to ensure food availability and reduce the frequency of grocery shopping trips. These drivers are propelling the Frozen Food market into a phase of significant expansion.
Restraints and Opportunities: While the market for frozen food is thriving, it does face challenges. One notable restraint is the perception of frozen food as less healthy compared to fresh alternatives. Addressing this perception through innovative marketing and healthier product offerings presents an opportunity for market players. Another restraint is the need for consistent cold storage, which can increase costs for producers. However, advancements in cold chain logistics present opportunities to mitigate these challenges. Moreover, as consumer preferences continue to evolve, there is a growing opportunity for innovation in the development of new, healthier, and more sustainably sourced frozen food products.
FROZEN FOOD MARKET SEGMENTAL ANALYSIS
BY TYPE:
The increasing awareness of the health benefits associated with consuming fruits and vegetables. Frozen options are often perceived as equally nutritious as fresh produce due to the preservation methods used. Moreover, consumers are drawn to the convenience of having a variety of fruits and vegetables readily available in their freezers. This convenience factor, coupled with the longer shelf life of frozen items, makes this segment a strong contributor to the market's growth.
The Meat and Poultry segment of the Frozen Food market is influenced by dominant factors such as convenience and extended storage life. Consumers appreciate the ability to store meat and poultry products for an extended period without compromising quality and taste. This convenience is particularly appealing in regions where access to fresh meat can be limited or for consumers with busy lifestyles. Additionally, advancements in freezing and packaging technologies have contributed to maintaining the nutritional value of these products. As a result, this segment continues to experience steady growth.
The Frozen Seafood market is characterized by dominant factors like sustainability and year-round availability. With increasing concerns about overfishing and the sustainability of seafood sources, consumers are turning to frozen seafood as an environmentally responsible choice. Additionally, the ability to access a wide range of seafood products year-round, regardless of seasonal variations, is a key driver for this market segment. The freezing process preserves the delicate flavors and textures of seafood, making it an attractive choice for both home cooks and foodservice providers.
BY APPLICATION:
The busy nature of modern life, which has led consumers to seek quick and hassle-free meal solutions. Frozen food products offer an array of options for home-cooked meals and snacks, allowing individuals and families to save time in the kitchen. Moreover, the extended shelf life of frozen items reduces food waste, making it an environmentally conscious choice for households.
In the foodservice sector, the Frozen Food market has been influenced by dominant factors such as consistency and cost-efficiency. Foodservice providers often rely on frozen ingredients for their ability to maintain consistent quality and reduce food preparation time. The freezing process preserves the taste and texture of various food items, ensuring that the dishes served to customers meet a certain standard. Additionally, frozen food products can help control costs, as they eliminate the need for extensive fresh ingredient storage and reduce food spoilage.
The industrial application of frozen food products is primarily driven by factors such as mass production and food safety. Large-scale food manufacturers and processors utilize frozen ingredients to meet high demand and ensure food safety. The freezing process helps extend the shelf life of ingredients and finished products, reducing the risk of contamination and spoilage. Moreover, the availability of a wide range of frozen ingredients simplifies production processes and allows for greater flexibility in creating food products.
BY DISTRIBUTION CHANNEL:
These large retail outlets offer a wide variety of frozen food products, making it convenient for shoppers to access an extensive range of options in one location. Moreover, the presence of established brands and the ability to browse and compare products on-site contribute to the market's growth in this distribution channel. Supermarkets and hypermarkets also have the infrastructure for cold storage, ensuring that frozen products maintain their quality and integrity.
Convenience Stores: The convenience store distribution channel in the Frozen Food market is shaped by the dominant factor of quick and easy access. These smaller retail outlets cater to consumers seeking immediate food solutions, making frozen products a natural fit. The grab-and-go nature of convenience stores aligns well with the convenience of frozen meals and snacks. Additionally, the smaller size of these stores means that they are often strategically located in neighborhoods and along commuting routes, providing a solution for consumers looking for frozen food items on the go.
Online Channels: The distribution of frozen food products through online channels has been primarily driven by the dominant factor of convenience and choice. Online platforms provide consumers with the flexibility to browse, select, and order frozen products from the comfort of their homes. This convenience factor is particularly appealing to busy individuals and those looking for a broader selection, including specialty or hard-to-find frozen items. Furthermore, online channels offer the convenience of doorstep delivery, eliminating the need for physical store visits.
REGIONAL ANALYSIS:
In North America, the market enjoys robust growth driven by the dominant factors of changing consumer lifestyles and the quest for convenient meal options. The busy schedules of consumers have led to an increased demand for frozen food products, such as ready-to-eat meals and frozen vegetables, in the region. In Europe, the market's growth is shaped by the dominant factor of sustainability and a preference for premium quality frozen food. Consumers in Europe are increasingly opting for sustainably sourced and high-quality frozen products, reflecting their commitment to environmental responsibility and food quality.
In the Asia Pacific region, the Frozen Food market is influenced by factors such as urbanization and the rising middle-class population. As more people move to urban areas and experience changing dietary preferences, the demand for frozen food, particularly convenience meals and seafood, has surged. The Asia Pacific region also presents opportunities for market expansion due to the presence of a vast and diverse consumer base. In Latin America, the market growth is driven by factors like the increasing adoption of frozen food as a means to combat food spoilage and reduce food waste.
COVID-19 IMPACT:
With lockdowns and social distancing measures in place, consumers turned to frozen food products as a practical and safe solution. The long shelf life and convenience of frozen meals and ingredients made them an attractive choice for households looking to reduce the frequency of grocery store visits. Additionally, as the foodservice industry faced restrictions and temporary closures, there was a surge in demand for frozen food products, particularly ready-to-eat and heat-and-eat items. This shift in consumer behavior and increased reliance on frozen food during the pandemic has reshaped the market, emphasizing the importance of adaptability and innovation for industry players.
INDUSTRY ANALYSIS:
Mergers and Acquisitions
- In May 2023, Conagra Brands Inc. acquired Pinnacle Foods Inc., a leading provider of branded food products in North America, for $10.7 billion. This acquisition gives Conagra Brands a stronger presence in the frozen food market, with brands such as Birds Eye, Hungry-Man, and Swanson.
- In April 2023, Nestlé S.A. acquired the frozen food business of Kraft Heinz Co. for $2.6 billion. This acquisition gives Nestlé a stronger presence in the frozen pizza market, with brands such as DiGiorno and Tombstone.
Product New Launches
- In June 2023, Nestlé S.A. launched a new line of frozen plant-based burgers under the Garden Gourmet brand. These burgers are made with pea protein and other plant-based ingredients, and are designed to taste like beef burgers.
- In May 2023, Conagra Brands Inc. launched a new line of frozen meals under the Healthy Choice brand. These meals are designed to be low in calories and fat, and high in protein and fiber.
- In April 2023, Tyson Foods Inc. launched a new line of frozen chicken nuggets under the Tyson Naturals brand. These nuggets are made with all-natural ingredients and are free from antibiotics and hormones.
KEY MARKET PLAYERS:
- Nestlé
- Conagra Brands
- General Mills
- Unilever
- The Kraft Heinz Company
- Kellogg Company
- McCain Foods
- Ajinomoto Co., Inc.
- Dr. Oetker
- H.J. Heinz Company
- Nomad Foods
- Amy's Kitchen
- Birds Eye
- Pinnacle Foods
- Schwan's Company
- Tyson Foods
- Cargill
- Rich Products Corporation
- ITC Limited
- Grupo Bimbo
- Lantmännen Unibake
- Findus Group
- Young's Seafood
- Maple Leaf Foods
- Goya Foods
- others
Table of Contents
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Introduction
- 1.1 Background and Overview
- 1.2 Research Methodology
- 1.3 Scope and Objectives
- 1.4 Report Structure
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Executive Summary
- 2.1 Key Findings
- 2.2 Market Highlights
- 2.3 Market Attractiveness
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Market Overview
- 3.1 Market Definition
- 3.2 Market Segmentation
- 3.3 Industry Evolution and History
- 3.4 Market Trends
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Market Dynamics
- 4.1 Drivers
- 4.2 Restraints
- 4.3 Opportunities
- 4.4 Challenges
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Global Frozen Food Market
- 5.1 Market Size and Forecast
- 5.2 Market Share Analysis
- 5.3 Key Players
- 5.4 Market Concentration
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Market By Product Type
- 6.1 Frozen Fruits and Vegetables
- 6.2 Frozen Meat and Seafood
- 6.3 Frozen Ready Meals
- 6.4 Frozen Bakery Products
- 6.5 Others
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Market By Distribution Channel
- 7.1 Supermarkets and Hypermarkets
- 7.2 Convenience Stores
- 7.3 Online Retail
- 7.4 Others
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Regional Analysis
- 8.1 North America
- 8.2 Europe
- 8.3 Asia-Pacific
- 8.4 Latin America
- 8.5 Middle East and Africa
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Competitive Landscape
- 9.1 Market Share Analysis
- 9.2 Company Profiles
- 9.3 Competitive Strategies
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Market Outlook
- 10.1 Future Trends
- 10.2 Growth Prospects
- 10.3 Forecast
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Conclusion
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Appendix
- 12.1 Data Sources
- 12.2 Abbreviations
- 12.3 Methodology
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References
Frozen Food Market Segmentation
By type:
- Fruits and vegetables
- Meat and poultry
- Seafood
- Dairy products
- Bakery products
- Convenience foods and ready meals
- Plant-based proteins
By application:
- Household
- Foodservice
- Industrial
By distribution channel:
- Supermarkets/hypermarkets
- Convenience stores
- Online channels
- Other distribution channels
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RESEARCH METHODOLOGY
With a collective industry experience of about 70 years of analysts and experts, Future Data Stats encompasses the most infallible research methodology for its market intelligence and industry analysis. Not only does the company dig deep into the innermost levels of the market, but also examines the minutest details for its market estimates and forecasts.
This approach helps build a greater market-specific view of size, shape, and industry trends within each industry segment. Various industry trends and real-time developments are factored into identifying key growth factors and the future course of the market. The research proceeds are the results of high-quality data, expert views & analysis, and valuable independent opinions. The research process is designed to deliver a balanced view of the global markets and allows stakeholders to make informed decisions, to attain their highest growth objectives.
Future Data Stats offers its clients exhaustive research and analysis, based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models distill the data & statistics and enhance the accuracy of our recommendations and advice.
With Future Data Stats calibrated research process and 360° data-evaluation methodology, the clients receive:
- Consistent, valuable, robust, and actionable data & analysis that can easily be referenced for strategic business planning
- Technologically sophisticated and reliable insights through a well-audited and veracious research methodology
- Sovereign research proceeds that present a tangible depiction of the marketplace
With this strong methodology, Future Data Stats ensures that its research and analysis is most reliable and guarantees sound business planning.
The research methodology of the global market involves extensive primary and secondary research. Primary research includes about 24 hours of interviews and discussions with a wide range of stakeholders that include upstream and downstream participants. Primary research typically is a bulk of our research efforts, coherently supported by extensive secondary research. Over 3000 product literature, industry releases, annual reports, and other such documents of key industry participants have been reviewed to obtain a better market understanding and gain enhanced competitive intelligence. In addition, authentic industry journals, trade associations’ releases, and government websites have also been reviewed to generate high-value industry insights.
Primary Research:
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Primary Research
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Desk Research
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Company Analysis
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• Identify key opinion leaders • Questionnaire design • In-depth Interviews • Coverage across the value chain
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• Company Website • Company Annual Reports • Paid Databases • Financial Reports
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• Market Participants • Key Strengths • Product Portfolio • Mapping as per Value Chain • Key focus segment
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Primary research efforts include reaching out to participants through emails, telephonic conversations, referrals, and professional corporate relations with various companies that make way for greater flexibility in reaching out to industry participants and commentators for interviews and discussions.
The aforementioned helps to:
- Validate and improve data quality and strengthen the research proceeds
- Develop a market understanding and expertise
- Supply authentic information about the market size, share, growth, and forecasts
The primary research interview and discussion panels comprise experienced industry personnel.
These participants include, but are not limited to:
- Chief executives and VPs of leading corporations specific to an industry
- Product and sales managers or country heads; channel partners & top-level distributors; banking, investments, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research:
A broad array of industry sources for the secondary research typically includes, but is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for a competitive scenario and shape of the industry
- Patent and regulatory databases to understand technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles, web-casts, and other related releases to evaluate the market
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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PRIMARY SOURCES |
DATA SOURCES |
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• Top executives of end-use industries • C-level executives of the leading Parenteral Nutrition companies • Sales manager and regional sales manager of the Parenteral Nutrition companies • Industry Consultants • Distributors/Suppliers
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• Annual Reports • Presentations • Company Websites • Press Releases • News Articles • Government Agencies’ Publications • Industry Publications • Paid Databases
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Analyst Tools and Models:
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BOTTOM-UP APPROACH |
TOP-DOWN APPROACH |
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· Arriving at · Arriving at · Market Share · Key Market Players |
· Key Market Players · Market Share · Arriving at · Arriving at |
Frozen Food Market Dynamic Factors
Drivers:
- Evolving lifestyles and busier schedules drive the demand for convenient frozen food options.
- Growing awareness of nutrition preservation techniques makes frozen food an attractive, healthy choice.
- Sustainable sourcing and reduced food waste contribute to the market's growth.
- The COVID-19 pandemic increased the reliance on frozen food for safety and convenience.
Restraints:
- Some consumers view frozen food as less fresh compared to fresh alternatives, impacting their choices.
- The need for consistent cold storage can increase costs for producers and retailers.
- The frozen food market faces intense competition from both traditional and emerging food sectors.
- Adherence to various regulations, including labeling and nutritional requirements, can pose hurdles.
Opportunities:
- There is room for innovation in creating new, healthier, and sustainably sourced frozen food products.
- The growth of e-commerce provides opportunities for expanding the market reach.
- The potential for entering new regions with diverse consumer preferences and demands.
- Continued emphasis on offering convenient frozen meal solutions for time-pressed consumers.
Challenges:
- Adapting to evolving consumer preferences and dietary trends.
- Vulnerabilities in the supply chain due to factors like extreme weather and logistics challenges.
- Ensuring the safety and quality of frozen food products in a highly regulated environment.
- Addressing concerns about packaging waste and carbon footprint associated with frozen food production and distribution.
Frequently Asked Questions
