June 29, 2022

Overview of Frozen Food Market Production, Consumption and Quality 2022-2030

The global frozen food market size was valued at USD 278.1 billion in 2021 and is projected to reach USD 416.9 billion by 2030, registering a CAGR of 4.6% from 2022 to 2030. Frozen food products are stored at very low temperatures for transport and storage until they are ready to be consumed. Freezing food products greatly increases their shelf life and, therefore, facilitates the availability of these items in remote and remote locations, where conventional distribution takes considerable time. Frozen foods are also known as convenience foods because they require less effort to prepare or cook before eating. These foods are widely used in the food service industry, including food outlets, hotels, restaurants and quick service restaurants.

Market Segmentation and Scope of the Study:

The frozen food market share is analyzed based on type, product, distribution channel, end users, and freezing technique. On the basis of type, the market is segmented into raw and semi-cooked. On the basis of product, the market is segmented into frozen ready meals, frozen potatoes, frozen soups, frozen dairy products, frozen bakery products, meat and poultry, seafood, vegetables and fruits. Based on the distribution channel, the market is divided into supermarket/hypermarket, convenience store, online channels and others. Based on freezing technique, the market is categorized into Individual Quick Freezing (IQF), Quick Freezing, Band Freezing and Others. A geographic breakdown and in-depth analysis of each segment is included for North America, Europe, Asia Pacific and Rest of the World.

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Geographical analysis

Europe holds the lion’s share of the global frozen food market and is expected to continue dominating the market during the forecast period. This is attributed to factors such as high purchasing power and changing consumer food preferences. Also, developed countries such as Germany, UK, and France have witnessed strong market growth as people in these countries have adopted frozen foods as part of their main diet. However, North America is expected to show a steady rise in the market owing to the rising demand and consumption of frozen foods, increasing female labor force and busy lifestyles. Additionally, the development of innovative products such as low trans fat, low fat multigrain, whole grain and low in artificial preservatives, has increased the demand for frozen foods, which is expected to boost the market in this region. Moreover, due to the rapid increase in the number of large retail chains, including hypermarkets and supermarkets, the demand for frozen food in this region is even stronger.

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Competitive landscape

The market includes various market players such as Aryzta AG, Ajinomoto Co. Inc, Parkland Corporation, Cargill Incorporated, Rojo, Kellogg Company, Nestle SA, OOB Organics, Conagra Brands Inc., and Chevon Agrotech Pvt. These market players are adopting various acquisition strategies and planning to expand their businesses in various regions to maintain their dominance in the frozen food market. For example, in January 2022, Parkland Corporation had acquired the M&M food market. This acquisition would enable M&M Food Market to expand its exclusive food offerings, increase customer reach and innovation pipeline which would put stiff competition in the frozen food market over the forecast period.

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Next Move Strategy Consulting is a trusted, independent third-platform market intelligence provider committed to delivering high-quality market research reports that help multinational companies triumph over their competitors and grow their footprint in the industry by capturing a larger market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analysis. We carefully analyze historical data, augment it by constantly keeping an eye on the latest industry trends and estimate future events to arrive at accurate market forecasts.

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