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Frozen Food Market Size (2024 - 2029)

The frozen food market is experiencing growth driven by factors such as increased disposable income, the introduction of products with longer shelf lives, and a rise in impulse purchasing. The market has transitioned from raw food offerings to a variety of prepared foods, with ice creams and cakes becoming prominent categories. The demand for convenience foods is boosting the market, as frozen products offer time-saving benefits. Technological advancements have made frozen foods more accessible and affordable, while companies are responding to environmental concerns with eco-friendly packaging.

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Market Size of Frozen Food Industry

Frozen Food Market Summary
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

Frozen Food Market Major Players

*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 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
Retail
Supermarkets/hypermarkets
Convenience Stores
Online Channels
Other Retail Distribution Channels
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Spain
United Kingdom
Germany
France
Italy
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
South Africa
Saudi Arabia
Rest of Middle East and Africa
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Frozen Food Market Size Summary

The frozen food market is experiencing significant growth, driven by factors such as increasing disposable income, the introduction of products with longer shelf lives, and a rise in impulse purchasing. The market has evolved from basic frozen items like meat and vegetables to a diverse range of prepared foods, including frozen desserts and bakery products, with ice creams and cakes leading the category. The demand for convenience foods is a major driver, as frozen products offer time-saving benefits compared to traditional cooking methods. The busy lifestyles of the global working population further boost this demand, with the frozen snacks segment expected to expand due to the growing snacking trend among adults and teenagers.

Technological advancements have made frozen food more accessible and affordable, while eco-friendly and sustainable packaging solutions are gaining traction, aligning with consumer preferences for clean-label products. The increasing demand for ready-to-eat and on-the-go food options is influenced by changing social and economic patterns, heightened food expenditure, and a growing expatriate population. Manufacturers are innovating to meet consumer demands for shelf-stability and convenience, offering frozen meals that require minimal preparation. The market is highly competitive, with major players like Unilever, Nestle SA, and General Mills focusing on expanding their product portfolios to cater to diverse consumer preferences.

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Frozen Food Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

      1. 1.1.1 Demand for Convenient Ready-to-Eat Food Products

      2. 1.1.2 Growing Affinity Toward Ethnic and Organic Frozen Ready Meals

    2. 1.2 Market Restraints

      1. 1.2.1 Rising Concerns Over Food Safety and Quality

    3. 1.3 Porter's Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Product Category

      1. 2.1.1 Ready-to-eat

      2. 2.1.2 Ready-to-cook

    2. 2.2 Product Type

      1. 2.2.1 Frozen Fruits and Vegetables

      2. 2.2.2 Frozen Meat and Fish

      3. 2.2.3 Frozen-cooked Ready Meals

      4. 2.2.4 Frozen Desserts

      5. 2.2.5 Frozen Snacks

      6. 2.2.6 Other Product Types

    3. 2.3 Distribution Channel

      1. 2.3.1 HoReCa

      2. 2.3.2 Retail

        1. 2.3.2.1 Supermarkets/hypermarkets

        2. 2.3.2.2 Convenience Stores

        3. 2.3.2.3 Online Channels

        4. 2.3.2.4 Other Retail Distribution Channels

    4. 2.4 Geography

      1. 2.4.1 North America

        1. 2.4.1.1 United States

        2. 2.4.1.2 Canada

        3. 2.4.1.3 Mexico

        4. 2.4.1.4 Rest of North America

      2. 2.4.2 Europe

        1. 2.4.2.1 Spain

        2. 2.4.2.2 United Kingdom

        3. 2.4.2.3 Germany

        4. 2.4.2.4 France

        5. 2.4.2.5 Italy

        6. 2.4.2.6 Russia

        7. 2.4.2.7 Rest of Europe

      3. 2.4.3 Asia-Pacific

        1. 2.4.3.1 China

        2. 2.4.3.2 Japan

        3. 2.4.3.3 India

        4. 2.4.3.4 Australia

        5. 2.4.3.5 Rest of Asia-Pacific

      4. 2.4.4 South America

        1. 2.4.4.1 Brazil

        2. 2.4.4.2 Argentina

        3. 2.4.4.3 Rest of South America

      5. 2.4.5 Middle East and Africa

        1. 2.4.5.1 South Africa

        2. 2.4.5.2 Saudi Arabia

        3. 2.4.5.3 Rest of Middle East and Africa

Frozen Food Market Size FAQs

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.

In 2024, the Frozen Food Market size is expected to reach USD 453.99 billion.

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