The Global Frozen Food Market was valued at USD 271.95 Billion in 2021, and it is projected to reach USD 406.22 Billion by 2028, registering an estimated CAGR of 5.9% during 2021- 2028.
Frozen meals are a very convenient and convenient way to combine nutritious and healthy meals such as fruits and vegetables, protein and dairy products, and whole grains. Chefs around the world benefit greatly from frozen meals because they provide excellent quality and reduce labor and waste. Frozen foods contain more minerals and vitamins because fresh foods tend to lose weight over time, while frozen foods preserve and retain nutrients.
This is one of the main factors that attracts high-end consumers to prefer frozen food over fresh food. For example, Deloitte's survey of 2,000 adults showed that consumers may want to eat fresh, but are aware of the huge amount of food waste and therefore choose frozen products because of their nutritional value and long shelf life. According to the company's findings, 57% of all adults between the ages of 18 and 34 say frozen vegetables are better than fresh. In addition, the young population is more sensitive to frozen food because of the quality and healthiness it offers, which in turn leads to market growth.
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The Major Players in The Global Frozen Food Market:
- General Mills Inc. (US)
- Nestle SA (Switzerland)
- Conagra Brands Inc. (US)
- Ajinomoto Co. Inc. (Japan)
- McCain Foods Limited (Canada)
- The Kellogg Company (US)
- Grupo Bimbo S.A.B. DE C.V. (Mexico)
- Lantmannen Unibake International (Denmark)
- The Kraft Heinz Company (US)
- Unilever PLC (UK)
- Cargill Incorporated (US)
- Wawona Frozen Food (US)
- Tyson Foods, Inc. (US), and other major players.
Market has segmented the Global Frozen Food Market on the basis of type, application, and region:
By Type :
- Raw Material
- Half-Cooked
- Ready-To-Eat
By Product:
- Convenience Food & Ready Meals
- Meat & Seafood Products
- Dairy Products
- Bakery Products
- Fruits & Vegetables
- Others
By Regional Outlook (Revenue, USD Billion, 2022 – 2028)
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, Southeast Asia, Rest of APAC)
- Middle East & Africa (GCC Countries, South Africa, Rest of MEA)
- South America (Brazil, Argentina, Rest of South America)
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Covid-19 Impact and Recovery Analysis on Industry:
Frozen foods are now experiencing tailwinds owing to their low perishable nature, better pricing as well as a growing number of premium options, which further presents profitable opportunities for innovations among the manufacturers. The frozen food market widely experienced an increase in sales owing to the panic buying of food products among the consumers with the fear of long-term lockdown caused by the virus. Frozen food articles along with required essentials were the immediate food products observed getting sold in the initial days of the pandemic owing to their prolonged shelf life. According to The American Frozen Food Institute (AFFI) and FMI, Frozen Food recorded around US$ 65.1 billion in sales in 2020 which was a 21% increase when compared to the pre-pandemic years. Moreover, according to a study by BBC, during the Covid-19 pandemic, consumers in the United States witnessed an increased sale of online shopping which further boosted the growth of frozen foods.
Reasons to purchase the report:
- Visualize the composition of the Global Frozen Food Market products in terms of Product and application highlighting the critical commercial assets and players.
- Identify commercial opportunities in the Global Frozen Food Market by analyzing trends and co-development deals.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
Table of Content:
Chapter 1: Introduction
1.1 Research Objectives
1.2 Research Methodology
1.3 Research Process
1.4 Scope and Coverage
1.4.1 Market Definition
1.4.2 Key Questions Answered
1.5 Market Segmentation
Chapter 2:Executive Summary
Chapter 3:Growth Opportunities By Segment
3.1 By Type
3.2 By Product
To be continued…….
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