The frozen food market share is poised for strong growth, with a forecast value of US$ 335,342 million in 2023. Building on a solid basis, the global market reached revenues of US$ 314,285 million in 2022, with a remarkable CAGR of 5.8% from 2018 to 2022. The rising demand for frozen food packaging is estimated to drive market expansion at a 6.9% CAGR between 2023 and 2033. According to these projections, the market will be valued at US$629,649 million by 2033.
Fish, meat, poultry, vegetables, and other foods are kept at low temperatures for storage. Those are the foods that are frozen. Freshly made foods and cooked meals are regularly replaced by them. The two most extensively distributed frozen food items in supermarkets are frozen meat and frozen fish.
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Frozen Food Market Driven by Change in Consumer Lifestyle
Global demand for convenience food has been prompted by changes in consumer lifestyle. And as a result, the demand for frozen meals has increased on the international market. Additionally, the market for frozen meals will experience phenomenal growth throughout the projected period due to the rise in the number of working women and the rise in the number of households with just one person. Due to the change in lifestyle, eating frozen foods every day has become the norm across the globe.
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.
This customer feeling is being used by the frozen food market to increase manufacturing of items that are healthy. This sector’s dairy industry produces goods with less processing and little added sugar. Frozen dairy products like yoghurt and ice cream are excellent sources of calcium, phosphorus, and vitamin D.
Frozen Food Market: Region-wise Analysis
Due to a shift in customer attitudes towards frozen food, Europe emerges as the forefront leader in the global frozen food market. This shift is attributed to an elevation in the standard of living and a transition towards a more convenient lifestyle, resulting in a substantial surge in frozen food consumption across the European Union.
Over the forecasted timeframe, significant growth is anticipated in the frozen food industry across Africa and the Asia Pacific region. These projections stem from the scarcity of fresh food supply and the prevalence of fast-paced lifestyles in these regions. Notably, the Asia Pacific region is poised to experience remarkable growth due to the increasing disposable income in countries such as China, India, and Japan. This financial boost acts as a catalyst, propelling the expansion of the global frozen food sector in the Asia Pacific region.
Furthermore, North America and the Middle East are poised to undergo moderate expansion within the sector during the specified projection period. This expansion is prompted by evolving consumer preferences and an inclination towards convenience. However, it’s crucial to note that transition words are minimally present in the provided text, which could enhance the overall flow and coherence of the information presented.
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 Africa
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