The global market for frozen foods is projected to reach US$ 314,285 million in 2022 and then rise at a CAGR of 6.7% to reach US$ 602,257 million by 2032. Rising consumer desire for prepared foods is credited with growth. A CAGR of 6.0% was recorded for the frozen food market from 2016 to 2021.
Frozen foods are food items such as seafood, meat & poultry, vegetable & fruits, convenience foods, and more that are preserved under low temperatures for future usage. They are often used as an alternative or a substitute for fresh and cooked foods. Frozen meat, and seafood have the highest demand of all frozen food products, and they are readily available at grocery stores.
Food preservation has been an ancient practice that humans use to prevent the spoilage of food items or products. The practice is motivated by the surplus food items within the clement season and shortage of food during winter. Preservation via drying, salting, and smoking has been an old practice. However, the innovation of technology has replaced such practices since it can’t be used for preserving some food items like vegetables, fruits, and uncooked meat or seafood. The use of refrigerators or freezers has enhanced food preservation in the industrial age as both cooked and uncooked food items can be stored in them.
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Frozen Food Market Driven by Change in Consumer Lifestyle
The change in consumer lifestyle has prompt the need for the provision of convenience food globally. And this has fostered the rise in demand for frozen foods in the global market. Also, the rise in the number of working women, coupled with the growing number of single-person households has been a significant factor that will drive the tremendous growth of the frozen foods market over the forecast period. It’s now a global norm to consume frozen foods daily due to the change in lifestyle.
Increase in Awareness Regarding the Health Benefits of Frozen Foods
Today’s on the go consumers are on the watch of their health and are ready to spend on health-enhancing products. With the increase in the awareness of the health benefits associated with frozen foods consumption, the market is expected to experience an inclination globally over the forecast period.
The frozen food market is capitalizing on this consumer sentiment to increase the production of health befitting products. The dairy industry in this sector is manufacturing products with low sugar content and minimal processing. Diary based frozen foods like yogurt,s, ice cream are a rich source of vitamin D, phosphorus, and calcium.
Frozen Food Market: Region-wise Analysis
Europe has the largest market in the global frozen food market with the transformation in consumer’s attitude towards frozen food within the region. Consumption of frozen food within the European Union countries has increased tremendously due to the improvement in the standard of living and shift towards convenience lifestyle.
Africa and the Asia Pacific regions will register a significant growth in the frozen food market over the forecast due to the less availability of fresh foods and busy lifestyle within the regions. The rise in disposable income of countries like China, India and Japan is another force driving the growth of the global frozen food market within the Asia Pacific region. Other regions such as North America and Middle East are expected to record a moderate growth in the industry over the forecast period.
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Frozen Food Market: Competitive Landscape
Aryzta A.G.
Ajinomoto Co. Inc.
Cargill Incorporated
General Mills Inc.
JBS S.A.
Kellogg Company
the Kraft Heinz Company
Nestle S.A.
ConAgra Brands, Inc.
Associated British Foods Plc..
Region-wise Analysis
The research report presents a comprehensive assessment of market and contains thoughtful insights, facts, historical data, and statistically supported and industry validated market data and projections with suitable set of assumptions and methodology. Research report provides analysis and information by categories such as market segments, geographies, types, technology and applications.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Global Frozen Food Market Segment Analysis
The global frozen food market can be segmented on the following basis:
By Type
Frozen fruits and vegetables
Frozen meat and fish
Frozen desert
Frozen snacks
Frozen cooked ready meals
Other
By Category
Ready to eat
Ready to cook
Ready to drink
Others
By Distribution Channel
Supermarkets & Hypermarkets
Convenience Stores
Online Channels
Others
By Freezing Technique
Blast freezing
Belt freezing
Individual Quick Freezing (IQF)
Others
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Report Highlights:
Detailed overview of parent market
Changing market dynamics in the industry
In-depth market segmentation
Historical, current and projected market size in terms of volume and value
Recent industry trends and developments
Competitive landscape
Strategies of key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on market performance
Must-have information for market players to sustain and enhance their market footprint
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