Frozen Food Market (By Product: Ready Meals, Frozen Seafood, Frozen Meat & Poultry, Frozen Fruit & Vegetables, Frozen Potatoes, Frozen Soups, Bakery Products, Others; By Distribution Channel: Offline, Online; By Consumption: Food Service, Retail; By Type: Raw material, Ready-to-eat, Ready-to-cook, Ready-to-drink; By Freezing Technique: IQF, Blast Freezing, Belt Freezing, Other) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022 – 2030


The global frozen food market size was estimated at US$ 290 billion in 2021 and it is projected to surpass around US$ 504.41 billion by 2030 with a registered CAGR of around 6.34% from 2022 to 2030.

Frozen Food Market Size 2021 to 2030

The global frozen market is increasing as there is increasing FDI in many developing nations. The frozen products market is expected to expand in the near future.  Rising demand for convenience food technological advancements in the cold chain market and the developments in the retail stores are driving force for the growth of this market. As the frozen food products require less time and effort as compared to cooking meals at home this market is expected to grow during the forecast. Freezing the food slows down the decomposition process and inhibits the growth of bacterial species. The use of preservatives is extremely less in frozen food products as the microorganisms do not grow at a temperature all 15 degrees Fahrenheit which happens to be sufficient in itself to prevent food spoilage. Most of the frozen food undergoes a mechanical process which uses the vapor compression refrigerator technology. Advancements in these technologies have provided to device similar and better technologies for freezing the foods. One of the main problems surrounding the freezing method is that the pathogens are deactivated but they do not get killed.

Growth Factors

The processed food or the frozen food market is driven by the greater need for food which is convenient to make and eat owing to the busy lifestyle of consumers. In the developed as well as the developing economies there are dual income households so ready to cook foods are an easy option there's an increase in consumer preference for convenience food as they require a very less amount of time and effort as compared to the traditional cooking methods. Increasing disposable income is one of the factors which largely influences the growth of the frozen food market as there is an increase in the buying power amongst the consumers and they shall help in the growth of the market during the forecast. Latest trends are helping in the growth of the market as the online grocery shopping by using various apps makes it extremely convenient for customers to pick their preferred frozen food through these websites. With the doorstep delivery options the market is expected to see a growth. The nutritional value of the frozen food does not deteriorate hence this is a healthy option. Owing to all of these factors the frozen food market is expected to grow well during the forecast period.

Report Scope of the Frozen Food Market

Report Coverage Details
Market Size by 2030 USD 504.41 Billion
Growth Rate from 2022 to 2030

CAGR of 6.34%

Europe Market Share in 2021 36%
Online Retail Segment CAGR 8.39% from 2022 to 2030
Base Year 2021
Forecast Period 2022 to 2030
Segments Covered Product, Distribution Channel, Consumption, Type, Freezing Technique, Geography
Companies Mentioned General Mills Inc (US), Conagra Brands, Inc. (US), Grupo Bimbo S.A.B. de C.V. (Mexico),  Nestle SA (Switzerland), Associated British Foods plc (UK), Ajinomoto (Japan), Vandemoortele NV (Belgium), LantmannenUnibake International (Denmark), Cargill (US). and Others

 

Restraining Factors

Cold chain logistics is the essential requirement for the storage of frozen food in all the nations. Emerging nations are still lacking in the infrastructure of cold chain and are not being able to provide safe products to their populace. Though these foods’ shelf life is very long, adequacy of infrastructure leads to the wastage of these food products resulting in a loss to its producers. Investments are very less in developing nations due to financial crisis, which in turn is hampering the growth of cold chain businesses in this area. However, the emerging nations have a lot of lucrative opportunities for the funding in account of the changing consumer preferences towards the frozen foods and the increasing acceptance of it.

According to Nielsen Market Research Company, frozen and shelf-stable foods were prominent in shopping carts during the COVID-19 pandemic. Consumers stocked up on these food items which helped to reduce the number of trips they needed to make to the grocery store. Nielsen data shows that frozen foods were in the top five food categories with significant sales growth from March to June 2020

While some consumer purchasing habits, such as buying frozen products, may extend beyod the pandemic, other factors may also influence frozen food sales in the future. The impact of the pandemic, and therefore the impact on purchasing power, is not equal among consumer groups. Financially impacted consumer groups may adopt new shopping strategies, for instance some may opt for more frozen foods over fresh foods to reduce costs. Apart from pandemic impacts, frozen food is one of the most convenient ways for consumers to find meal solutions. In recent years, food manufacturers have given the frozen food category a sharper focus by developing a greater number of tasty and more nutritionally-rich products. Given these facts, it is worth getting some insights into frozen food sales trends in Alberta. Such analysis could help Alberta food processsors pursue potential opportunities in frozen food manufacturing.

Tomorrow of Frozen Food

Manufacturers of frozen food are employing technologies like Individually Quick-Frozen (IQF) technology to enhance the food quality. Through this technology, food products are placed on conveyor belt to transfer it to blast freezer which freezes the product in no time. With this technology, each molecule in the product is frozen well, which is totally inverse of block or bulk freezing. This technology helps in getting an improved quality of product with higher nutritional values. IQF prevents freezer from the formation of snow by lowering dryness of the items. Reduced dehydration in the items helps food processing companies to turn up more profit. In this technology, a significant amount of energy is saved, owing to frequency converters deployed over every fan. This setup does not need much refrigeration in an effort to chill off the heat created through fans. This technology provides tender handling and better division of the items at all phases of the process. It gives an absolute premium item with a conventional look as an end result.

Product Insights

On the basis of the type segment, the frozen ready meals segment accounted largest revenue share 32% in 2021.

The ready to eat meals or the convenient meals segment is expected to dominate the market during the forecast period. In the recent years the convenient and ready to eat meals has seen a major growth. The reason that contributes to the growth of the frozen food market is the changing and busy lifestyles of people across the world and an increase in the consumption of frozen foods due to high amount of disposable income and increased spending power. Even though the frozen food is packed food the nutritional value of this food does not deteriorate frozen food is healthy to eat hence even their health conscious customers wouldn't refrain from buying frozen foods. As there is a high acceptance of these convenient and ready meals which are available through various distribution channels this market segment is expected to grow.

Frozen ready to eat meals are complete meals which do not require any other additional ingredients in order to enhance the taste. They are a healthy alternative to fresh food. It is extremely affordable convenient and helps in saving time as the food requires hardly any time to cook. The revenue for ready meals is expected to reach US$ 138.56 billion by the year 2030. Due to the technological innovations in the frozen food industry these ready to cook meals are microwaveable, portion controlled and shelf stable. Due to an increased number of women entering the workplaces and the changing lifestyles is boosting the demand for frozen meals across many nations. Frozen ready to cook meals are easy for people who have a hectic lifestyle, people who stay alone and do not want to prepare an entire meal and also for people who are trying to lose weight.

Distribution Channel Insights

The online retail segment is expected to have the largest market share during the forecast period. The retail segment shall have a CAGR of 8.59% during the forecast. After the pandemic the sales of frozen fruit through the online retails have grown drastically this segment helps in offering convenience to the customers and variety of options to choose from. The ecommerce platform for food had the greatest growth through the pandemic which had a gain of about 84%. The offline market segment should also have a good market share during the forecast. The technologically advanced infrastructure in various hypermarkets and convenience stores that have provisions for freezing and temperature control facilities will drive the market of this segment during the forecast.

Type Insights

The type segment of frozen foods market is categorized into raw material, ready to eat, ready to cook, and ready to drink. Among these segments, ready to cook sub-segment is estimated to grow at the fastest rate. Ready to cook products are highly suitable for the working professionals as they consume less time than the conventional ones. The growth of ready to cook segment is attributed to the factors such growing populace across the globe, a major shift in the lifestyles of individuals, increasing number of working women globally, and the increase in the disposable income.

Regional Insights

Europe region has accounted largest revenue share of around 36% in 2021.

Frozen Food Market Share, By Region, 2021 (%)

Depending upon the geography the Asia Pacific region shall have the largest market share for the frozen food market during the forecast. It shall have a CAGR of 9.12% till the year 2030. Countries like India and China shall have the largest market share in the Asia Pacific region. There are many reasons for the growth in these countries. An increased per capita income, increased disposable income and an ever increasing population in these nations shall make them the largest markets for frozen food. The market for frozen food shall have a good growth during the forecast period in the European region. Improved standard of living and increasing need for convenience is driving the market for frozen food in the European nations. There's a higher level of consumption of frozen food many nations. The sentence competition in the frozen food sector which makes the food extremely superior in taste as well as in quality. In the countries like United Kingdom Germany and France there is a major growth in the frozen Foods Market.

COVID-19 Impact Analysis

Impact of COVID-19 pandemic was positive on the frozen food market. The demand for frozen foods suddenly grew during the pandemic, as these products have a longer shelf life, thus can be stored for a longer period of time. As the stock piled up by the shoppers ended, there was a shortage of these products in the market. The demand was rising and the supply was not up to the mark due to the lockdowns declared by various governments across the nations. Considering the increased demand, governments allowed the production of edible food across the globe. This has shifted consumer buying pattern drastically.

Key market players in the frozen Foods Market

  • General Mills Inc (US)
  • Conagra Brands, Inc. (US)
  • Grupo Bimbo S.A.B. de C.V. (Mexico)
  •  Nestle SA (Switzerland)
  • Associated British Foods plc (UK)
  • Ajinomoto (Japan)
  • Vandemoortele NV (Belgium)
  • LantmannenUnibake International (Denmark)
  • Cargill (US).
  • Unilever (Netherlands)
  • Kellogg Company (US)
  • McCain Foods Limited (Canada)
  • Kraft Heinz Company (US)

Key market developments in the frozen food market

  • In 2021, Nomad Foods Limited company completed what it previously announced which was the acquisition of Fortenova Group's frozen food business (Fortenova Frozen).
  • In 2021, Tyson Foods Inc. launched a new line of plant-based products in select retail markets and e-Commerce markets across the Asia-Pacific region under the brand name First Pride, it will introduce frozen Bites, Stripsmade and nuggets
  • In 2021, Nestle expanded its frozen food factory in South Carolina. Nestle invested an amount of USD 100 million for the company's brands like the Stouffer's and Lean Cuisine.

Segments Covered in the Report

(Note*: We offer report based on sub segments as well. Kindly, let us know if you are interested)

By Product Type

  • Ready Meals
  • Frozen Seafood
  • Frozen Meat &Poultry
  • Frozen Fruit &Vegetables
  • Frozen Potatoes
  • Frozen Soups
  • Bakery Products
  • Others

By Distribution Channel

  • Offline
  • Online

By Consumption

  • Food Service
  • Retail

By Type

  • Raw material
  • Ready-to-eat
  • Ready-to-cook
  • Ready-to-drink

By Freezing Technique

  • Individual Quick Freezing (IQF)
  • Blast Freezing
  • Belt Freezing
  • Other

By Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Malaysia
    • Philippines
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa (MEA)
    • GCC
    • North Africa
    • South Africa
    • Rest of the Middle East & Africa

Frequently Asked Questions

What is the current size of frozen food market?
The global frozen food market size was reached at US$ 290 billion in 2021 and it is anticipated to rake around US$ 504.41 billion by 2030.
The global frozen food market is expected to registered growth at a CAGR of 6.34% from 2022 to 2030.
The major players operating in the frozen food market are General Mills Inc (US), Conagra Brands, Inc. (US), Associated British Foods plc (UK), Ajinomoto (Japan), Vandemoortele NV (Belgium), LantmannenUnibake International (Denmark), Cargill (US)., Unilever (Netherlands), Kellogg Company (US), McCain Foods Limited (Canada), and Kraft Heinz Company (US).
Increase in the retail landscape, high demand for convenience food and technological growths in the cold chain sector are the important driving factors for the market.
Europe region will lead the global frozen food market in the forecast period 2022 to 2030.
  • Report Code:1792
  • Category:Food and Beverages
  • No. of Pages:150+
  • Format:PDF/PPT/Excel
  • Status:Published

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