Frozen Food Market Size
| Study Period | 2019-2029 |
| Market Size (2024) | USD 453.99 Billion |
| Market Size (2029) | USD 555.74 Billion |
| CAGR (2024 - 2029) | 4.13 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players.webp){kind=logo}
*Disclaimer: Major Players sorted in no particular order |
Frozen Food Market Analysis
The Frozen Food Market size is estimated at USD 453.99 billion in 2024, and is expected to reach USD 555.74 billion by 2029, growing at a CAGR of 4.13% during the forecast period (2024-2029).
The market is primarily driven by rising disposable income, the introduction of longer shelf-life products, and increasing impulse purchasing. The market evolved from selling raw food, such as frozen meat, fish, vegetables, and fruits, to prepared food, frozen vegetable mixes (with meat, rice, and pasta), frozen desserts, and bakery products. Ice creams and cakes emerged as the leading product category in the frozen food market. The rising preference toward convenience food fuels the demand for frozen products due to their effortless and time-saving beneficial factor compared to cooking from scratch. The hectic lifestyle of the working population around the globe is majorly boosting the frozen food market. Significantly, the frozen snacks segment is anticipated to grow due to the rising snacking trend, especially among adults and teenagers.
With strong support in terms of technological innovation and the advantages of frozen food, products have become much more accessible and affordable for consumers globally. The advent of new technologies has resulted in the affordability of frozen food. Along with the clean-label trend, companies provide eco-friendly and sustainable packaging, understanding consumers' growing environmental sentiments and increasing their product penetration in the market. For instance, in April 2022, Nomad Foods partnered with Innoget, an innovation network, to develop clean-label paper-based packaging for frozen food, including frozen potato fries.
Frozen Food Market Trends
Surge In Demand For Ready Meals
Globally, the demand for convenient and instant food, particularly ready-to-eat products, is growing faster. This can be attributed to changes in social and economic patterns, increased expenditure on food and beverage, awareness about healthy food, changes in meal patterns and existing food habits, growing ex-pat settlement population across the regions, and the desire to taste new products. Moreover, the on-the-go food concept is closely associated with easy consumption and handling of products, which ready meals can offer. Thus, the demand for frozen food products is increasing due to the linked convenience of consumption and aided by disposable packaging simultaneously. Similarly, these frozen ready meals require minimum or no further preparation before consumption. With technological innovations in the food industry, convenience food includes ready meals in frozen, portion-controlled, shelf-stable, microwaveable, and prepared-mixes formats. Besides this, to cater to the consumers' demand for shelf-stability and convenience, manufacturers are innovating in formulation, which may be carried everywhere without spilling and has a long shelf life.
Europe Dominates the Market
Convenience and long shelf life are key factors driving the increase in consumption of frozen food across the region. Owing to this factor, the players operating in this market segment have been introducing new variants of frozen food influenced by different cuisines to cater to the shifting preferences of consumers. For instance, in June 2023, Frosta AG, a German-based company, launched a plant-based frozen food range, including Vegan Fish Fingers (Veggie Fish Stabchen). The company claims to utilize protein replacement ingredients from a reliable source. Moreover, there is a rise in the number of health-conscious consumers in Canada. This, in turn, is boosting the demand for frozen yogurt, as it has various health benefits, simproved digestion, enhanced immune function, and reduced risk of several diseases, including obesity. Additionally, frozen meat offers multiple advantages, such as longer shelf life and food safety, which are expected to drive the growth of the frozen meat market over the forecast period.
Frozen Food Industry Overview
The frozen food market is highly competitive and comprises regional and international competitors. Companies compete on different factors, including product offerings, ingredients, quality, taste, flavors, price, functionality, size, packaging, and marketing activities, to gain a competitive advantage. Players like Unilever, Nestle SA, General Mills, The Kraft Heinz Company, Tyson Foods Inc., and Conagra Brands Inc. dominate the market. The leading players in the frozen food market enjoy a dominant presence worldwide. These players focus on leveraging opportunities emerging markets pose to expand their product portfolio to cater to the requirements of various product segments, especially frozen desserts.
Frozen Food Market Leaders
-
Nestle SA
-
General Mills Inc
-
Unilever Plc
-
Tyson Foods Inc.
-
The Kraft Heinz Company
*Disclaimer: Major Players sorted in no particular order
Frozen Food Market News
- September 2023: General Mills India, a division of Minneapolis-based General Mills Inc., started a new USD 12 million baking plant in Nashik, Maharashtra. According to General Mills, the facility was intended to serve as the epicenter for manufacturing the company鈥檚 Pillsbury baking mixes for the Indian market.
- August 2023: General Mills invested about USD 48 million in the Joplin production facility. The product facility to expand its production capacity of frozen dough. The products are to be retailed under the brand Pillsbury.
- June 2023: Yoplait launched two new snacks, Yoplait Original with Chocolate Shavings and Go-Gurt Freeze & Reveal tubes. General Mills, the manufacturer of Yoplait products, shared that its latest yogurt cups drew inspiration from treats such as chocolate-covered strawberries and cordial cherries. The company added real chocolate shavings to strawberry, cherry, and raspberry yogurt flavors for the launch.
Frozen Food Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Demand for Convenient Ready-to-Eat Food Products
4.1.2 Growing Affinity Toward Ethnic and Organic Frozen Ready Meals
4.2 Market Restraints
4.2.1 Rising Concerns Over Food Safety and Quality
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Product Category
5.1.1 Ready-to-eat
5.1.2 Ready-to-cook
5.2 Product Type
5.2.1 Frozen Fruits and Vegetables
5.2.2 Frozen Meat and Fish
5.2.3 Frozen-cooked Ready Meals
5.2.4 Frozen Desserts
5.2.5 Frozen Snacks
5.2.6 Other Product Types
5.3 Distribution Channel
5.3.1 HoReCa
5.3.2 Retail
5.3.2.1 Supermarkets/hypermarkets
5.3.2.2 Convenience Stores
5.3.2.3 Online Channels
5.3.2.4 Other Retail Distribution Channels
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.1.4 Rest of North America
5.4.2 Europe
5.4.2.1 Spain
5.4.2.2 United Kingdom
5.4.2.3 Germany
5.4.2.4 France
5.4.2.5 Italy
5.4.2.6 Russia
5.4.2.7 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 Rest of Asia-Pacific
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle East and Africa
5.4.5.1 South Africa
5.4.5.2 Saudi Arabia
5.4.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 General Mills Inc.
6.3.2 Unilever PLC
6.3.3 Nestle SA
6.3.4 Tyson Foods Inc.
6.3.5 Nomad Foods Ltd
6.3.6 Ajinomoto Co. Inc.
6.3.7 Conagra Brands Inc.
6.3.8 The Kraft Heinz Company
6.3.9 McCain Foods Limited
6.3.10 Hormel Foods Corporation
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Frozen Food Industry Segmentation
Frozen food products are preserved under low temperatures and have a long shelf life. The frozen food market is segmented by product category, product type, distribution channel, and geography. Based on product category, the market is segmented into ready-to-eat and ready-to-cook. The market is segmented by product type into frozen fruits and vegetables, frozen meat and fish, frozen-cooked ready meals, frozen desserts, frozen snacks, and other product types. The market is segmented by distribution channel into horeca and retail. The retail segment is further segmented into supermarkets/hypermarkets, convenience stores, online channels, and other retail distribution channels. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East and Africa. For each segment, the market sizing and forecasts have been done based on the value in USD.
| Product Category | |
| Ready-to-eat | |
| Ready-to-cook |
| Product Type | |
| Frozen Fruits and Vegetables | |
| Frozen Meat and Fish | |
| Frozen-cooked Ready Meals | |
| Frozen Desserts | |
| Frozen Snacks | |
| Other Product Types |
| Distribution Channel | ||||||
| HoReCa | ||||||
|
| Geography | |||||||||
| |||||||||
| |||||||||
| |||||||||
| |||||||||
|
Frozen Food Market Research FAQs
How big is the Frozen Food Market?
The Frozen Food Market size is expected to reach USD 453.99 billion in 2024 and grow at a CAGR of 4.13% to reach USD 555.74 billion by 2029.
What is the current Frozen Food Market size?
In 2024, the Frozen Food Market size is expected to reach USD 453.99 billion.
Who are the key players in Frozen Food Market?
Nestle SA, General Mills Inc, Unilever Plc, Tyson Foods Inc. and The Kraft Heinz Company are the major companies operating in the Frozen Food Market.
Which is the fastest growing region in Frozen Food Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Frozen Food Market?
In 2024, the Europe accounts for the largest market share in Frozen Food Market.
What years does this Frozen Food Market cover, and what was the market size in 2023?
In 2023, the Frozen Food Market size was estimated at USD 435.24 billion. The report covers the Frozen Food Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Frozen Food Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the emerging technologies in Frozen Food processing?
The emerging technologies in Frozen Food processing are a) Flash freezing b) High-pressure processing c) Smart packaging with temperature monitoring
Frozen Food Industry Report
The Global Frozen Food Market Report is segmented by various product categories, types, and distribution channels, highlighting significant market growth driven by the rising demand for convenience foods. This demand is particularly evident in segments such as frozen ready meals, seafood, meat, snacks, and bakery items. The market size is expanding due to increasing employment rates among women and a surge in online retailing, making frozen foods more accessible.
Despite a growing preference for natural and fresh foods, the market thrives, supported by technological advancements in packaging and wide product availability through supermarkets/hypermarkets and online retail. The industry analysis indicates that rising disposable incomes in emerging economies are also contributing to this growth, positioning the frozen food sector for continued expansion.
The market research shows that convenience, variety, and accessibility are key factors driving the market. The market forecast and historical overview provided in the report offer detailed insights into the market structure and trends. The industry research highlights the importance of understanding market segmentation and market value, along with the role of market leaders in shaping the industry outlook.
The report pdf from 糖心vlog传媒鈩� Industry Reports offers a comprehensive analysis, including market data and market predictions. The industry reports detail the market growth and market overview, providing a clear market review and market outlook. The industry statistics and industry trends are crucial for understanding the market dynamics and the growth rate of the industry.
In summary, the global frozen food market is poised for significant growth, driven by various factors including rising disposable incomes, technological advancements, and increased accessibility through different distribution channels. The report provides a thorough industry overview, highlighting key market trends and market segmentation, making it an essential resource for understanding the market size and market forecast.
