The global frozen food market was valued at $397.3 billion in 2022, and is projected to reach $607.2 billion by 2032, growing at a CAGR of 4.4% from 2023 to 2032.The stability of frozen food is influenced by a number of factors that depend on temperature and content. Food components that lower the ice melting temperature also lower the glass transition temperature of frozen solids when food is held at a specific temperature, which affects the amount of unfrozen water present. Temperature and freeze concentration must be taken into consideration when estimating the shelf life of frozen meals. Food that has been frozen may be eaten by even the pickiest tasters. A dish that has been correctly prepared, maintained at 0°F, and heated in line with the recommendations of the manufacturer ought to taste identical to food that has been made on-site. The recipes utilized in frozen prepared food are created by some of the top chefs in the world.
Food that is completely edible when frozen is available for purchase by the user. Studies on 13 different vegetables show that up to 40% of a raw vegetable is lost during shelling and peeling before the vegetable is fit for cooking. According to the Census Bureau, more than half of households in the U.S. currently only have one or two people. Much frozen food has been developed specifically for these households. There are entrees, desserts, and sides that are single serving sized. There is no waste Ince there are no leftovers. Each family member may enjoy their favorite food without having to spend time and money cooking large quantities of each cuisine. Fruits and vegetables that are frozen and packaged in poly bags also make it simple to limit portion sizes.
A variety of dining options, and growth in health consciousness, eating patterns have altered throughout time in homes due to dual Income. Eating out, ready-to-cook meals, takeaway, and meals that have already been prepared - all of which were once thought to be the exclusive domain of the upper class - are now widespread. Even though eating habits vary from household to household, this style of eating is now widely used across the globe. Food habits or eating habits have seen a tidal change that is influenced by the type and nature of jobs and free time as more women enter the workforce with erratic work schedules and hectic lifestyles. The number of working women has gradually Increased in emerging countries, which has raised demand for prepared dishes and fast food. Retail customers consume frozen non-baked food such meat, pig, and beef more regularly in their homes because they may be stored and utilized for an extended period of time. The traditional thought women who were responsible for the healthy food of the family no longer have the time or energy to create home-cooked meals as more women enter the job. As a result, people have developed a preference for frozen food with long shelf lives, which has boosted the market growth.
Food that is frozen needs proper refrigeration and storage facilities. The rapidly growing number of large retail outlets, such as supermarkets and hypermarkets, in developing nations, has made it simpler to access frozen food due to their deep refrigeration and better storage capabilities. Different ready-to-eat frozen food products have been distributed more effectively through supermarkets and upscale bakeries. It is anticipated that Increase in urbanization may accelerate the expansion of the retail industry, which would Increase demand for frozen food.
It is anticipated that the demand for ready-to-eat food products in North America may alter during the forecast period. For instance, consumers who are health-conscious Increasingly accept healthy food products, whereas sales of frozen food and bakery goods with high cholesterol have fallen. Thus, the market is anticipated to present profitable opportunities for the segment of frozen food that are ready-to-eat and are wholesome.
The frozen food market is segmented on the basis of type, end-user, and region. On the basis of product type, the market is categorized into ready meals, frozen meat & poultry, frozen seafood, frozen vegetables & fruits, frozen potatoes, and frozen soups. On the basis of end user, it is bifurcated into food service industry and retail users. On the basis of region, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Argentina, and Rest of LAMEA).
The major players operating in the global frozen food are Nestlé S.A., Conagra Brands, Inc., The Kraft Heinz Company, Cargill, Incorporated, Kellogg Company, JBS S.A., Associated British Foods plc, Ajinomoto Co., Inc., General Mills, Inc, and Aryzta AG., Nestlé.
Food that is completely edible when frozen is available for purchase by the user. Studies on 13 different vegetables show that up to 40% of a raw vegetable is lost during shelling and peeling before the vegetable is fit for cooking. According to the Census Bureau, more than half of households in the U.S. currently only have one or two people. Much frozen food has been developed specifically for these households. There are entrees, desserts, and sides that are single serving sized. There is no waste Ince there are no leftovers. Each family member may enjoy their favorite food without having to spend time and money cooking large quantities of each cuisine. Fruits and vegetables that are frozen and packaged in poly bags also make it simple to limit portion sizes.
A variety of dining options, and growth in health consciousness, eating patterns have altered throughout time in homes due to dual Income. Eating out, ready-to-cook meals, takeaway, and meals that have already been prepared - all of which were once thought to be the exclusive domain of the upper class - are now widespread. Even though eating habits vary from household to household, this style of eating is now widely used across the globe. Food habits or eating habits have seen a tidal change that is influenced by the type and nature of jobs and free time as more women enter the workforce with erratic work schedules and hectic lifestyles. The number of working women has gradually Increased in emerging countries, which has raised demand for prepared dishes and fast food. Retail customers consume frozen non-baked food such meat, pig, and beef more regularly in their homes because they may be stored and utilized for an extended period of time. The traditional thought women who were responsible for the healthy food of the family no longer have the time or energy to create home-cooked meals as more women enter the job. As a result, people have developed a preference for frozen food with long shelf lives, which has boosted the market growth.
Food that is frozen needs proper refrigeration and storage facilities. The rapidly growing number of large retail outlets, such as supermarkets and hypermarkets, in developing nations, has made it simpler to access frozen food due to their deep refrigeration and better storage capabilities. Different ready-to-eat frozen food products have been distributed more effectively through supermarkets and upscale bakeries. It is anticipated that Increase in urbanization may accelerate the expansion of the retail industry, which would Increase demand for frozen food.
It is anticipated that the demand for ready-to-eat food products in North America may alter during the forecast period. For instance, consumers who are health-conscious Increasingly accept healthy food products, whereas sales of frozen food and bakery goods with high cholesterol have fallen. Thus, the market is anticipated to present profitable opportunities for the segment of frozen food that are ready-to-eat and are wholesome.
The frozen food market is segmented on the basis of type, end-user, and region. On the basis of product type, the market is categorized into ready meals, frozen meat & poultry, frozen seafood, frozen vegetables & fruits, frozen potatoes, and frozen soups. On the basis of end user, it is bifurcated into food service industry and retail users. On the basis of region, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Argentina, and Rest of LAMEA).
The major players operating in the global frozen food are Nestlé S.A., Conagra Brands, Inc., The Kraft Heinz Company, Cargill, Incorporated, Kellogg Company, JBS S.A., Associated British Foods plc, Ajinomoto Co., Inc., General Mills, Inc, and Aryzta AG., Nestlé.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the frozen food market analysis from 2022 to 2032 to identify the prevailing frozen food market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the frozen food market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report Includes the analysis of the regional as well as global frozen food market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product Type
- Frozen soups
- Frozen Ready meals
- Frozen seafood
- Frozen meat and poultry
- Frozen fruit and vegetables
- Frozen potatoes
By End User
- Food service industry
- Retail users
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- Italy
- UK
- France
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Argentina
- Rest of LAMEA
Key Market Players
- Ajinomoto Co., Inc.
- Aryzta AG
- Associated British Foods plc
- Cargill, Incorporated
- Conagra Brands, Inc.
- General Mills, Inc.
- JBS S.A.
- Kellogg Company
- Nestle S.A.
- The Kraft Heinz Company
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: FROZEN FOOD MARKET, BY PRODUCT TYPE
CHAPTER 5: FROZEN FOOD MARKET, BY END USER
CHAPTER 6: FROZEN FOOD MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to a new report, titled, 'Frozen Food Market,' The frozen food market was valued at $397.3 billion in 2022, and is estimated to reach $607.2 billion by 2032, growing at a CAGR of 4.4% from 2023 to 2032.Food that is frozen is quite practical. Everything has been cleaned, picked, diced, chopped, and squeezed. Whatever the consumer chooses, it is all ready to heat and serve; it just needs to be removed from the freezer. Fresh fruits and vegetables are processed and quickly frozen within hours after being picked in order to prevent any loss of flavor, quality, texture, or nutrition. In addition, losses brought on by spoilage and shrinkage are eliminated with frozen food, which practically stays unchanged in storage. There is currently no better technique for food preservation than frozen at the height of excellence. Seasonal restrictions are no longer an issue.
Consumer awareness of health and fitness has expanded as a result of growth in health issues in industrialized nations. Sales of ready-to-eat frozen meals have decreased due to the rise in the prevalence of obesity among young people. This has caused consumers who are concerned about their health to favor fresh non-vegetarian products over frozen food, which is a major factor limiting the market expansion. Nevertheless, it is anticipated that during the forecast period, demand for frozen healthy food, such as wholesome snacks, yoghurt, low-cholesterol desserts, fruits, vegetables, and organic high-fiber bakery products, is anticipated to increase in developed markets, which may lessen the impact of this restraint.
Lifestyle food products have gained popularity as consumer spending on upscale food items rises quickly, fast food, bakery goods, ice cream, and others. There is a growth in demand for high-end frozen bakery products such as cakes and pastries as a result of the introduction of innovative products by numerous rivals. Moreover, there has been a growth in sales of prepared and semi-cooked frozen food in developing countries such as China and India due to busy consumer lifestyles, which significantly contributes to the growth of the global market.
The most well-known method of food preservation is freezing food. Commercial fast-freezing methods maintain the nutritional content of food without the use of chemical preservatives. In addition, food that has been properly preserved and frozen quickly maintains its high nutritional value. Frozen food is consistently of high quality owing to the use of high quality raw materials during its preparation. This is because of the stringent industry-wide quality control standards, which begin on the farm. The options are more flexible because frozen food have a longer shelf life than fresh food. Frozen broccoli retains its freshness in the freezer for up to eight months, unlike fresh broccoli, which frequently needs to be consumed within a week. Freezing helps keep freshness of food.
Meals that are frozen are inexpensive. In general, buying food frozen is less expensive per edible ounce than buying food fresh. According to the U.S. Department of Agriculture study, purchasing five of the six veggies under consideration in canned, fresh, or frozen form resulted in the lowest price. The cost of fresh produce may vary from 99 cents at the beginning of the season to 39 cents around halfway through, and then suddenly soar up again. For frozen goods, there are no such notable price variations.
In addition, frozen prepared food performs better than fresh ones. It is important to take into account the whole cost of the ingredients used to make dinner at home. To make a cake, one needs to buy flour, sugar, eggs, shortening, spices or flavoring, and any other ingredients needed to make a frosting or topping. These elements could make a cake quite expensive. Frozen baked goods are unquestionably a better investment if a client rarely bakes and does not use the remaining ingredients.
The demand for frozen food has increased as a result of research and the operational excellence of key players in improving their current products. The availability of low-cholesterol and high-fiber frozen food products is anticipated to drive the market demand as opposed to generic bakery items in developed economies. Bakery behemoths such as Europastry and Aryzta have consistently concentrated on the creation of healthful frozen bakery products to draw a huge client base. In addition, major players such as General Mills, Inc., and Nestlé S.A. have been able to maintain a cost advantage despite rising raw material prices because of their operational excellence. Players are anticipated to improve their operational capabilities in order to lower manufacturing costs and boost profit margins because the cost of raw materials will rise.
The frozen food market is segmented on the basis of type, end-user, and region. On the basis of product type, the market is categorized into ready meals, frozen meat & poultry, frozen seafood, frozen vegetables & fruits, frozen potatoes, and frozen soups. On the basis of end user, it is bifurcated into food service industry and retail users. On the basis of region, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Argentina, and Rest of LAMEA).
The major players operating in the global frozen food are Nestlé S.A., Conagra Brands, Inc., The Kraft Heinz Company, Cargill, Incorporated, Kellogg Company, JBS S.A., Associated British Foods plc, Ajinomoto Co., Inc., General Mills, Inc, and Aryzta AG.
Key findings of the study
- On the basis of product type, frozen soups segment is anticipated to grow at the highest CAGR of 5.5% during the forecast period.
- On the basis of end user, the retail user segment is estimated to witness significant growth, registering a CAGR of 4.6% during the forecast period.
- On the basis of region, Asia-Pacfic is expected to grow at the highest CAGR of 7.0% during the forecast period.
Companies Mentioned
- Ajinomoto Co., Inc.
- Aryzta AG
- Associated British Foods plc
- Cargill, Incorporated
- Conagra Brands, Inc.
- General Mills, Inc.
- JBS S.A.
- Kellogg Company
- Nestle S.A.
- The Kraft Heinz Company
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 370 |
| Published | May 2023 |
| Forecast Period | 2022 - 2032 |
| Estimated Market Value ( USD | $ 397.3 billion |
| Forecasted Market Value ( USD | $ 607.2 billion |
| Compound Annual Growth Rate | 4.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
