The global frozen food market is expected to be worth US$ 314,285 million in 2022, rising at a 6.7% CAGR to US$ 602,257 million by 2032. Consumer preferences for ready-to-eat food are driving growth. The frozen food market grew at a 6.0% CAGR from 2016 to 2021.
Convenience foods, fish, meat, poultry, vegetables, and other commodities are kept at low temperatures for later use. These foods are known as frozen foods. They are frequently substituted for fresh foods and cooked meals. Frozen meat and seafood are the most popular frozen food items, and both are widely available in stores.
As customers prioritise convenience and extended shelf life in their hectic lifestyles, the Frozen Food Market is expanding rapidly. The popularity of ready-to-cook and ready-to-eat frozen dinners, combined with developments in freezing technology, has increased demand for frozen food products. Furthermore, the emphasis on premium, organic, and nutritious frozen food products promotes market expansion by catering to changing consumer tastes.
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Frozen Food Market Driven by Change in Consumer Lifestyle
The change in consumer lifestyle has prompt the need for the provision of convenience food globally. And this has fostered the rise in demand for frozen foods in the global market. Also, the rise in the number of working women, coupled with the growing number of single-person households has been a significant factor that will drive the tremendous growth of the frozen foods market over the forecast period. It’s now a global norm to consume frozen foods daily due to the change in lifestyle.
Increase in Awareness Regarding the Health Benefits of Frozen Foods
Today’s on the go consumers are on the watch of their health and are ready to spend on health-enhancing products. With the increase in the awareness of the health benefits associated with frozen foods consumption, the market is expected to experience an inclination globally over the forecast period.
The frozen food market is capitalizing on this consumer sentiment to increase the production of health befitting products. The dairy industry in this sector is manufacturing products with low sugar content and minimal processing. Diary based frozen foods like yogurts, ice cream are a rich source of vitamin D, phosphorus, and calcium.
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Frozen Food Market: Region-wise Analysis
Europe has the largest market in the global frozen food market with the transformation in consumer’s attitude towards frozen food within the region. Consumption of frozen food within the European Union countries has increased tremendously due to the improvement in the standard of living and shift towards convenience lifestyle.
Africa and the Asia Pacific regions will register a significant growth in the frozen food market over the forecast due to the less availability of fresh foods and busy lifestyle within the regions. The rise in disposable income of countries like China, India and Japan is another force driving the growth of the global frozen food market within the Asia Pacific region. Other regions such as North America and Middle East are expected to record a moderate growth in the industry over the forecast period.
Frozen Food Market: Competitive Landscape
Aryzta A.G.
Ajinomoto Co. Inc.
Cargill Incorporated
General Mills Inc.
JBS S.A.
Kellogg Company
the Kraft Heinz Company
Nestle S.A.
ConAgra Brands, Inc.
Associated British Foods Plc..
Region-wise Analysis
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Global Frozen Food Market Segment Analysis
Frozen Food Market by Type:
- Frozen Fruits and Vegetables
- Frozen Meat and Fish
- Frozen Desert
- Frozen Snacks
- Frozen Cooked Ready Meals
- Other Frozen Food Types
Frozen Food Market by Category:
- Ready to eat Frozen Food
- Ready to cook Frozen Food
- Ready to drink Frozen Food
- Others Frozen Food Categories
Frozen Food Market by Distribution Channel:
- Frozen Food in Supermarkets & Hypermarkets
- Frozen Food in Convenience Stores
- Frozen Food in Online Channels
- Frozen Food in Others
Frozen Food Market by Freezing Technique:
- Blast Freezing of Foods
- Belt Freezing of Foods
- Individual Quick Freezing (IQF) of Foods
- Others Freezing Techniques
Frozen Food Market by Region:
- North America Frozen Food Market
- Latin America Frozen Food Market
- Europe Frozen Food Market
- Asia Pacific Frozen Food Market
- Middle East and Africa Frozen Food Market
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