Global Frozen Food Market

Frozen Food Market Size, Share, Growth Analysis, By Product types(Frozen Fruits and Vegetables, Frozen Meat and Fish, Frozen-cooked Ready Meals, Frozen Desserts), By Product category(Energy, utilities, transportation & logistics, manufacturing), By Distribution channel(Supermarkets/Hypermarkets, Convenience Stores, Online Channels, and Other Distribution Channels), By Freezing technique(Individual Quick Freezing (IQF), Blast Freezing, Belt Freezing, and Other Freezing Techniques) - Industry Forecast 2024-2031


Report ID: SQMIG30I2189 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 124 | Figures: 77

Frozen Food Market Insights

Frozen Food Market size was valued at USD 256.46 billion in 2019 and is poised to grow from USD 271.8 billion in 2023 to USD 432.55 billion by 2031, growing at a CAGR of 5.98% in the forecast period (2024-2031).

Frozen Foods are becoming popular since It has many advantages such as the wastage of food is reduced, it provides convenience to the food purchaser, free from preservatives, no seasonal restriction, great nutrition.These are some myriad reasons why people all around the globe are purchasing frozen foods.

Frozen products help in extending the shelf life of food and are easier to divide in portions.The research published by British Food Journal shows that frozen food generates 47% less food waste at home than the non frozen food. This list with wastage of food helps the customer in terms of cost as well as to the environment too.In today's busy and environment where each and every person across the globe is working.Fresh, fast and delicious products are necessary to consume.All the major boxes are ticked by frozen products for the meals. Therefore the major working population of the globe is shifting towards the frozen products.The frozen food products are picked, washed and blanched within the hour of freezing. Therefore preservatives are not required because microorganisms do not grow when the temperature of the food is below -9.5 degrees Celsius.

US Frozen Food Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2024-2031

Global Market Size

USD 256.46 billion

Largest Segment

Supermarkets/Hypermarkets

Fastest Growth

Supermarkets/Hypermarkets

Growth Rate

5.98% CAGR

Global Frozen Food Market ($ Bn)
Country Share for North America Region (%)
Global Frozen Food Market By Distribution channel ($ Bn)
Global Frozen Food Market By Distribution channel (%)

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Frozen Food Market Segmental Analysis

Global Frozen Food market is segmented on the basis ofProduct type, product category, distribution channel freezing technique and region. By product type, the market is segmented into Frozen Fruits and Vegetables, Frozen Meat and Fish, Frozen-cooked Ready Meals, Frozen Desserts, Frozen Snacks, and Other Product Types. By Product category, the market is segmented intoReady-to-eat, Ready-to-cook, Ready-to-drink, and Other Product Categories. By distribution channel, the market is segmented into Supermarkets/Hypermarkets, Convenience Stores, Online Channels, and Other Distribution Channels.By Freezing, technique, Individual Quick Freezing (IQF), Blast Freezing, Belt Freezing, and Other Freezing Techniques. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Frozen Food Market Analysis by Distribution channel

By Distribution channel, the global market is divided into many segments such as Supermarkets/Hypermarkets, Convenience Stores, Online Channels, and Other Distribution Channels. The offline segment held the largest global Frozen Food market share due to the wide range of benefits provided by it to Frozen Food.The offline channels majorly include supermarket, hypermarket, convenience stores, grocery stores and local shops.Easy access to various stores offline Will help the market to grow in future as well. As the digitization all across the globe is increasing, the online distribution channel is anticipated to register the rapid CAGR from 2022 to 2030. Emergence and increase in ecommerce platform has compelled the marketers and manufacturers in developed and developing countries to structure their retail strategy in the online market.

Frozen Food Market Analysis by Type

By Type, the Frozen Food market is classified into Frozen Fruits and Vegetables, Frozen Meat and Fish, Frozen-cooked Ready Meals, Frozen Desserts, Frozen Snacks, and Other Product Types. The Frozen cooked ready meals segment is one of the Demanding segments for innovation and growth across all Global frozen food markets. It is considered a game-changer in the Global food industry. There are many products across the world that are long bones in the frozen cooked ready mills segment.Increasing prevalence of lifestyle diseases all the consumers across the globe are shifting towards fruit and vegetable segment as many of them do not need to wash, peel or chop the product.

Global Frozen Food Market By Distribution channel, 2023 (%)

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Frozen Food Market Regional Insights

Globally, North America is estimated to hold the highest global Frozen Food market share. Main factors during this growth period are the Single serving auction and ease in preparation and others.

Above all, Europe is expected to grow fastest during the forecast period. The reason for the same is increasing acquisition of Frozen Food technology in the region.Rise in vegan population, high consumer purchasing power, economic stability and change in food preference lead with the domination of Europe in the frozen food market.

Global Frozen Food Market By Region, 2024-2031
  • Largest
  • Fastest

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Frozen Food Market Dynamics

Frozen Food Market Drivers

Increasing Popularity of Ready-Made Food to Bolster Market Growth

  • Fresh, fast and delicious products are necessary to consume. All three boxes are ticked by frozen food along with the provided convenience.Packaged edible products attract the mass on a larger basis from each and every age group due to the convenience provided by the frozen food market. Due to the busy lifestyles of major populations across the globe, the packaged food helps in providing them the convenience to prepare and have the food.As it says time as well as efforts, more population across the globe will shift towards the frozen food products.

Frozen Food Market Restraints

Inclination towards Holistic Food Consumption to Hinder Market Growth

  • People's perceptions of frozen food as a stale, inferior alternative to fresh food goods have been one of the biggest setbacks and disadvantages for the frozen food sector around the world. There is a widespread misconception among consumers that food loses more nutrients the longer it is stored. It will limit the market's expansion.

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Frozen Food Market Competitive Landscape

Competition in the global Frozen Food market is expected to increase during the forecast period because new players are expected to enter in the global market and the number of Products compatible with Frozen Food will also increase. Currently, only a few key players are providing their services in the global market but these numbers will increase in the upcoming years.

Frozen Food Market Top Player’s Company Profiles

  • Nestle SA
  • General Mills, Inc.
  • Conagra Brands, Inc.
  • Kraft Heinz Company
  • Unilever Group
  • Kellogg Company
  • McCain Foods Limited
  • Nomad Foods Ltd.
  • Ajinomoto Co., Inc.
  • The Schwan Food Company
  • Tyson Foods, Inc.
  • JBS S.A.
  • Birds Eye Limited
  • Hormel Foods Corporation
  • Dr. Oetker GmbH
  • Amy's Kitchen Inc.
  • Nichirei Corporation
  • Findus Group
  • Goya Foods Inc.
  • Pinnacle Foods Inc.

Frozen Food Market Recent Developments

  • In September 2022, McCain Foods purchased Scelta Products, expanding its selection of delectable, prepared vegetable appetizer products by including the frozen food manufacturer from the Netherlands. The agreement, which became final on September 8, 2022, represents a sizable investment that will support McCain's expansion and growth in the frozen vegetable appetizer market.

Frozen Food Key Market Trends

  • The major population across the world is preferring the healthier and fresher food option. Therefore all the companies and major firms are shifting their focus towards healthier options.Along with health concerns, rising popularity of vegan diet has led to the increasing demand of plant based frozen food options. This includes veggie burgers, meatless chicken Nuggets.

Frozen Food Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our global Frozen Food market analysis, the global market is estimated to have significant growth during the forecast period because of the benefits it consists of such as Better convenience. Frozen Foods will enable Products to be more convenient for their users. The market has so much potential for new players also because of the high expected rate of growth and demand.

Report Metric Details
Market size value in 2023 USD 256.46 billion
Market size value in 2031 USD 432.55 billion
Growth Rate 5.98%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Product types
    • Frozen Fruits and Vegetables, Frozen Meat and Fish, Frozen-cooked Ready Meals, Frozen Desserts, Frozen Snacks, and Other Product Types
  • Product category
    • Energy, utilities, transportation & logistics, manufacturing, consumer electronics
  • Distribution channel
    • Supermarkets/Hypermarkets, Convenience Stores, Online Channels, and Other Distribution Channels
  • Freezing technique
    • Individual Quick Freezing (IQF), Blast Freezing, Belt Freezing, and Other Freezing Techniques
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Nestle SA
  • General Mills, Inc.
  • Conagra Brands, Inc.
  • Kraft Heinz Company
  • Unilever Group
  • Kellogg Company
  • McCain Foods Limited
  • Nomad Foods Ltd.
  • Ajinomoto Co., Inc.
  • The Schwan Food Company
  • Tyson Foods, Inc.
  • JBS S.A.
  • Birds Eye Limited
  • Hormel Foods Corporation
  • Dr. Oetker GmbH
  • Amy's Kitchen Inc.
  • Nichirei Corporation
  • Findus Group
  • Goya Foods Inc.
  • Pinnacle Foods Inc.
Customization scope

Free report customization with purchase. Customization includes:-

  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

Historical Year 2019

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Frozen Food Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Frozen Food Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Frozen Food Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Frozen Food Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Frozen Food Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Frozen Food Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Frozen Food Market size was valued at USD 256.46 billion in 2019 and is poised to grow from USD 271.8 billion in 2023 to USD 432.55 billion by 2031, growing at a CAGR of 5.98% in the forecast period (2024-2031).

Competition in the Frozen Food market is expected to increase during the forecast period because new players are expected to enter in the market and the number of Products compatible with Frozen Food will also increase. Currently, only a few key players are providing their services in the market but these numbers will increase in the upcoming years. 'Nestle SA', 'General Mills, Inc.', 'Conagra Brands, Inc.', 'Kraft Heinz Company', 'Unilever Group', 'Kellogg Company', 'McCain Foods Limited', 'Nomad Foods Ltd.', 'Ajinomoto Co., Inc.', 'The Schwan Food Company', 'Tyson Foods, Inc.', 'JBS S.A.', 'Birds Eye Limited', 'Hormel Foods Corporation', 'Dr. Oetker GmbH', 'Amy's Kitchen Inc.', 'Nichirei Corporation', 'Findus Group', 'Goya Foods Inc.', 'Pinnacle Foods Inc.'

Fresh, fast and delicious products are necessary to consume. All three boxes are ticked by frozen food along with the provided convenience.Packaged edible products attract the mass on a larger basis from each and every age group due to the convenience provided by the frozen food market. Due to the busy lifestyles of major populations across the globe, the packaged food helps in providing them the convenience to prepare and have the food.As it says time as well as efforts, more population across the globe will shift towards the frozen food products.

The major population across the world is preferring the healthier and fresher food option. Therefore all the companies and major firms are shifting their focus towards healthier options.Along with health concerns, rising popularity of vegan diet has led to the increasing demand of plant based frozen food options. This includes veggie burgers, meatless chicken Nuggets.

Globally, North America is estimated to hold the highest Frozen Food market share. Main factors during this growth period are the Single serving auction and ease in preparation and others.

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Global Frozen Food Market

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