The global frozen food market is expected to be worth US$ 314,285 million in 2022, rising at a 6.7% CAGR to US$ 602,257 million by 2032. Consumer preferences for ready-to-eat food are driving growth. The frozen food market grew at a 6.0% CAGR from 2016 to 2021.
Low temperatures are used to store food items such as fish, meat, poultry, veggies, and other items. Foods that are frozen are those. They frequently take the place of freshly prepared foods and cooked meals. Frozen meat and seafood, both of which are widely available in supermarkets, are the most popular frozen food items.
The frozen food business is rapidly growing as a result of people prioritising convenience and extended shelf lives in their busy lifestyles. The demand for frozen food products has increased due to the popularity of ready-to-cook and ready-to-eat frozen meals as well as advancements in freezing technology. By adapting to changing consumer demands, the emphasis on premium, organic, and nutrient-dense frozen food products also promotes market expansion.
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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 yogurts, ice cream are a rich source of vitamin D, phosphorus, and calcium.
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Frozen Food Market: Region-wise Analysis
Due to a change in customer attitudes towards frozen food in the region, Europe has the largest market in the worldwide frozen food business. Due to a rise in the standard of living and a shift towards a more convenient way of life, frozen food consumption has significantly increased throughout the European Union.
Due to a lack of fresh food supply and a busy lifestyle in these regions, the frozen food industry will experience significant development over the projected period in Africa and the Asia Pacific. The expansion of the worldwide frozen food industry in the Asia Pacific area is also being fueled by the rising disposable income of nations like China, India, and Japan. Over the course of the forecast period, other regions, including North America and the Middle East, are anticipated to experience a moderate expansion in the industry.
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 study provides an in-depth analysis of the market and includes deft observations, verifiable facts, historical data, statistically backed market statistics, and projections that have been verified by the industry. Analyses and information are provided in the research study according to categories like market segments, regions, types, technologies, and applications.
The study is a compilation of data collected directly from industry participants and specialists along the value chain, as well as qualitative and quantitative evaluations by industry analysts. In-depth analyses of macroeconomic indicators, controlling variables, parent market trends, and market attractiveness by segment are all provided in the research. The qualitative effects of key market parameters on market segments and geographical areas are also mapped in the research.
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Global Frozen Food Market Segment Analysis
Frozen Food Market, Categorized by Type:
• Frozen Fruits and Vegetables
• Frozen Meat and Fish
• Frozen Desserts
• Frozen Snacks
• Frozen Cooked Ready Meals
• Other Varieties of Frozen Food
Segmented by Category:
• Ready-to-Eat Frozen Food
• Ready-to-Cook Frozen Food
• Ready-to-Drink Frozen Food
• Other Categories of Frozen Food
Distributed through Various Channels:
• Supermarkets & Hypermarkets Offering Frozen Food
• Convenience Stores Providing Frozen Food
• Online Platforms for Frozen Food Sales
• Other Distribution Avenues
Distinguished by Freezing Techniques:
• Blast Freezing of Foods
• Belt Freezing of Foods
• Individual Quick Freezing (IQF) of Foods
• Other Approaches to Freezing
Analyzing Regional Markets:
• North American
• Latin American
• European
• Asian Pacific
• Frozen Food Market in the Middle East and Africaca
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