Frozen Meat and Fish Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.78 % |
| Fastest Growing Market | Europe |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Frozen Meat and Fish Market Analysis
The frozen Meat and Fish Market is projected to register a CAGR of 5.78% during the forecast period (2022-2027).
During the COVID-19 pandemic, the majority of nations experienced varied degrees of lockdown or self-quarantine, which had an influence on frozen meat and fish-eating habits. Meat delivery was forbidden in locations where the pandemic was more severe and widespread, such as parts of Italy. To go grocery shopping in countries such as Greece, France, and Italy, people had to apply for permits. Fresh meat, frozen meat, and canned meat all saw large increases throughout that time period, with frozen meat being one of the most popular since it is not as perishable as fresh meat.
Over the medium term, it is expected that the frozen meat and fish market will grow significantly. Companies have recognized the importance of e-commerce, and several players are now partnering with third-party retailers to deliver products to customers' homes. Transparency is another factor that is expected to influence the market. There have been reports of improperly labelled and counterfeit items being sold in the market. For example, Conagra Brands, Inc. recalled frozen beef goods in March 2022 owing to misbranding and undisclosed allergies.
People are willing to spend a greater price for superior quality. Consumers always favour brands that focus on producing frozen meat items that contain no preservatives or have less of them. Thus, consumer's preference for healthy eating will drive the demand for frozen meat and fish items branded "organically" and free of preservatives. Individuals's attitudes about frozen food are also expected to drive the industry and people increasingly buy frozen meat products without hesitation because of the benefits they offer over fresh meat, such as shelf life.
All these factors such as perpection of people towards frozen meat, rise in sale of organic frozen meat and fish, prematuriztion and other factors will propel the market in the forecast period.
Frozen Meat and Fish Market Trends
This section covers the major market trends shaping the Frozen Meat & Fish Market according to our research experts:
Longer shelf lives, expenditure on frozen meals, and price point, these factors are pushing the market
The introduction of products with longer shelf lives, consumer desire to stock up in case of food shortages, perishability, and shopping frequency are the primary drivers of the market. These circumstances have resulted in the necessity to stockpile eatables in homes that may endure for a longer period without spoiling, which has increased sales of frozen meat and fish. For example, the American Frozen Food Institute (AFFI) announced in February 2021 that sales of frozen meals such as seafood and chicken were 21.0% higher than in 2019, with double-digit sales of all sorts of frigid/chilled meals. Furthermore, retail demand for the aforementioned goods has been 15-20% greater than it was during the pandemic. Perception of people regarding frozen meat is also changing, more people are considering frozen meat and fish as good as fresh meat and fish. This perception of people increased annual expenditure on frozen meals, as per the data from the Bureau of Labor Statistics, the average annual expenditure on frozen meals per consumer unit in the United States in 2020 was USD 53.81. In short term, an increase in these numbers is expected which will push the frozen meat and fish market heavily.
Apart from all these factors, price is still one of the most important factors considered by the consumers, Generally fresh meat and fish are more expensive than frozen fish and meat. Taking all these factors into consideration, it is expected that in the forecast period (2022-2027), the market for frozen meat and fish will grow at a faster pace.
Europe is the largest Market
Europe is the largest market for frozen meat and fish, and the per-capita consumption of meat has increased in the last few years in the region. Germany, Poland, France, Italy, Spain, and the United Kingdom are showing significant growth in sales of frozen meat and fish, and the market share of frozen seafood is expected to grow faster than the other product types, as per the Eurobarometer poll 2021, the vast majority of Europeans (64%) continue to consume fish regularly, ideally, at home, frozen items are the most popular, slightly ahead of fresh and canned goods. As per the poll, Nearly 80% of people buy fish or seafood items at the grocery store, supermarket, or hypermarket, considerably outnumbering any other location. These numbers depict the need to develop online-sales channels to push the market further. It is expected that players will expand their reach further across Europe by investing heavily in online platforms. The poll also indicated that one-fifth of Europeans (21%) claim they eat seafood at least once a month. This is also a good indicator for the market, as frequent consumption leads to frequent shopping, but due to the dynamic lifestyle of people getting fresh meat and fish is generally difficult, this generates the need for frozen meat and fish, as they have longer shelf-life. All these factors coupled together will push the market significantly in Europe in the forecast period.
Frozen Meat and Fish Industry Overview
The Frozen meat and fish Market is very competitive, with several regional and worldwide rivals. Conagra Brands Inc., Clearwater Seafoods, Pilgrim's Pride Corporation, and others dominate the market. Major firms are working on increasing their manufacturing facilities in order to increase their worldwide market presence and develop their brand portfolio in order to cater to varied customer demands. Mergers and acquisitions are one of the favored strategies used by firms to enter foreign markets, as example, Nomad Foods Limited announced in March 2021 that it has signed an agreement to buy Fortenova Group's Frozen Food Business Group (FFBG) on a debt-free, the cash-free basis for an aggregate price of approximately EUR 615 million. Nomad Foods Limited will be able to explore new and intriguing markets in Central and Eastern Europe as a result of this Expansion. FFBG is the market leader in various European countries.
Frozen Meat and Fish Market Leaders
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Nomad Foods Limited
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M&J Seafood Holdings Limited
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Associated British Foods Plc
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Austevoll Seafood ASA
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Marfrig Group
*Disclaimer: Major Players sorted in no particular order
Frozen Meat and Fish Market News
- In November 2021, Seattle Fish Company, situated in the United States, has been sold to Armand Agra, a subsidiary of the Founders Group of Food Companies. Armand Agra operates Sierra Meat and Seafood, Durham Ranches, McDonald Meat Co., and Flocchini Family Provisions in Reno and Carson City, Nevada, and Seattle, Washington, USA.
- In November 2021, Pr茅val AG, a Quebec-based worldwide agri-food firm, purchased the assets of J&G Foods, based in Sutton, Massachusetts. J&G is a specialty case-ready fresh meat distributor that specializes in portioned organic and grass-fed beef, organic and natural poultry, natural pig and beef, and a range of marinated and value-added meats. J&G would join Pr茅val AG's six other meat enterprises, including Montpak International in Canada and Catelli Brothers in the United States, in processing and packaging veal, lamb, and beef for retail and food service clients throughout the Americas.
- In April 2021, Agthia purchased a controlling share in an Egyptian processed meat company. Agthia Group, located in the United Arab Emirates, bought a 75.02% share in Ismailia Investments. According to the deal, the remaining portion will be maintained by the company's founder, Attito Raslan. Ismailia Investments manufactures frozen chicken and beef products that are sold in Egypt under four distinct brands: Atyab, Meatland, Shiketita, and Furat.
Frozen Meat and Fish 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
4.2 Market Restraints
4.3 Porter's Five Force 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 By Product Type
5.1.1 White Meat
5.1.1.1 Chicken
5.1.1.2 Turkey
5.1.2 Red Meat
5.1.2.1 Beef
5.1.2.2 Pork
5.1.2.3 Lamb
5.1.2.4 Others
5.1.3 Fish
5.1.3.1 Tuna
5.1.3.2 Salmon
5.1.3.3 others
5.2 By Distibution Channel
5.2.1 Supermarkets/Hypermarkets
5.2.2 Convenience/ Grocery Stores
5.2.3 Online Retail Stores
5.2.4 Other distribution channels
5.3 By Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 United Kingdom
5.3.2.2 Germany
5.3.2.3 Spain
5.3.2.4 France
5.3.2.5 Italy
5.3.2.6 Russia
5.3.2.7 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle East & Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Nomad Foods Limited
6.3.2 Austevoll Seafood ASA
6.3.3 M&J Seafood Holdings Limited
6.3.4 Marfrig Global Foods S/A
6.3.5 Associated British Foods Plc
6.3.6 Pilgrim's Pride Corporation
6.3.7 AGROSUPER S.A.
6.3.8 Verde Farms, LLC
6.3.9 Tyson Foods, Inc.
6.3.10 High Liner Foods Inc
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
9. DISCLAIMER
Frozen Meat and Fish Industry Segmentation
Frozen meat is meat that has been significantly chilled after slaughter to significantly lower temperatures. Before cooking or additional processing, frozen meat must normally be thawed. Partial thawing (known as tempering) is sometimes used because tempered meat is harder than totally thawed meat and may be sliced or flaked more readily. The Frozen Meat and Fish Market is segmented by product type into white meat (chicken and turkey), red meat(Beef, pork, lamb, and others), and fish (tuna, salmon, and others). By distribution, the channel market is segmented into supermarkets/hypermarkets, convenience/ grocery Stores, online retail stores, and other distribution channels. The market study also covers the analysis of major regions such as North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. For each segment, the market sizing and forecasts are carried out on the basis of value (in USD millions).
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Frozen Meat and Fish Market Research FAQs
What is the current Frozen Meat and Fish Market size?
The Frozen Meat and Fish Market is projected to register a CAGR of 5.78% during the forecast period (2024-2029)
Who are the key players in Frozen Meat and Fish Market?
Nomad Foods Limited, M&J Seafood Holdings Limited, Associated British Foods Plc, Austevoll Seafood ASA and Marfrig Group are the major companies operating in the Frozen Meat and Fish Market.
Which is the fastest growing region in Frozen Meat and Fish Market?
Europe is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Frozen Meat and Fish Market?
In 2024, the Europe accounts for the largest market share in Frozen Meat and Fish Market.
What years does this Frozen Meat and Fish Market cover?
The report covers the Frozen Meat and Fish Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Frozen Meat and Fish Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Frozen Meat and Seafood Industry Report
Statistics for the 2024 Frozen Meat and Seafood market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Frozen Meat and Seafood analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
