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Frozen Foods Market

Global Market Study on Frozen Foods: Rising Urbanization and Hectic Lifestyle Accelerating Market Growth

Frozen Food Market Segmented By Frozen Pizza, Frozen Bakery Products and Confectionery Items, Frozen Fish or Seafood, Frozen Potatoes, Frozen Ready-to-Eat Meals, and Frozen Meat

Frozen Foods Market Outlook (2023-2033)

The global market for frozen foods is forecasted to be of valuation US$ 281.0 Bn in the year 2022 which is expanding at a value CAGR of 5.1% and set to reach a valuation of US$ 460.8 Bn by the end of the forecast period.

Frozen Foods Market Size (2023E)

US$ 281.0 Bn

Projected Sales of Frozen Foods (2033F)

US$ 460.8 Bn

Value CAGR (2023-2033)

5.1%

Value Share of Top 5 Countries (2022E)

49.0%

The European frozen foods market accounts for the highest value share of the global market at 38.2% in the year 2022.

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Frozen Foods Demand Analysis (2018-2022) Vs Market Estimations (2023-2033)

The global market for frozen foods has expanded at a CAGR of 3.9% during 2018-2022. Consumers looking for convenience and easy to prepare food items in positively influencing the market for frozen foods. However, something else is propelling the frozen food industry forward. Companies are launching a varied range of frozen foods, transforming an industry long known for instant meals into one of the hottest grocery aisles, giving cuisine, convenience, and more options than ever before.

Manufacturers of frozen foods are rolling out new products to give consumers a feel of newness. Partnerships, more marketing, licence agreements, and new alternatives like gluten-free are all helping to accelerate growth. An expanding range of products boosting sales is bolstering convenience and lengthy shelf-life.

Based on a detailed study by Persistence Market Research, for 2023-2033, the global frozen foods market is expected to surge at a CAGR of 5.1%.

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What are the Key Trends in the Market for Frozen Foods?

“How is Long Shelf-life of Frozen Food Products Aiding for Market Growth?”

Frozen food is witnessing a rise in demand due to the technologies being used for their production. Technologies such as freeze drying, air drying, and vacuum drying techniques have resulted in the possibility of consuming vegetables, fruits, and their ingredients for a longer period of time when preserved in specified conditions.

They have a longer shelf life ranging from weeks to months, which helps customers consume them later or in the future. The long shelf life of food products in the freezing process is achieved by the removal of moisture, which keeps them free from microorganisms. Due to the advancement in freezing technologies, the frozen foods market is growing.

Approval from regulatory agencies has opened the doors for frozen foods manufacturers who identified the potential of this business and started the supply of new age products.

“Is Consumer Inclination Towards Processed and Convenience Foods Fuelling Market Growth of Frozen Foods?”

Over the years, food processors have got a solution with the invention of frozen food products. This allows them to incorporate frozen food products such as fruits, vegetables, meat and seafood as an ingredient, so as to enhance product quality and deliver products as per consumer demand.

Various manufacturers are focusing on producing frozen foods to get a better hold of market share, due to the high demand. The rapid growth of the foodservice chains such as restaurants, cafeterias, and hotels in developing markets is also expected to fuel the demand for frozen foods.

The fast-paced work culture in cities has led to increased work timings, which makes it difficult for consumers to cook food at home. Busy Schedules have led consumers to opt for packaged and ready-to-eat meals. Frozen foods help customers enjoy tasty food, which takes less time for preparation. Since frozen foods are available in different varieties, consumers can eat any food of their choice.

Consumers are looking for affordable, convenient, and flavourful food products throughout the day due to a fast-paced life, thus providing ample growth opportunities for frozen food products. Customers prefer convenience foods which can reduce their food preparation time. The demand for convenience food is driven by a busy lifestyle and ageing population.

The major attributes which customers look for in convenience foods are ease of packaging, use, nutritional value, variety, safety, and product appeal. The quest for convenience is primarily driven by increased value of time and rising incomes.

Ready meals are the most favoured frozen food products across the North America and European countries. The market for ready meals in the Europe is valued at US$ 31.9 Bn in 2023 and is expected to reach US$ 46.9 Bn at a growth rate of 4.0%.

“How will Development of cold chain logistics in Developing Countries Support Market Expansion?”

Companies are looking towards the development of cold chain logistics, as it is crucial to the transport of frozen food products. Frozen Foods are consumed in various countries; a majority of the share comes from North America and Western Europe, due to developed economies and consumer awareness.

Several companies in Western Europe are looking to establish their own distribution networks for frozen foods, since it requires a specific temperature and environment after these products are taken out of the cold storage.

Frozen foods have the highest chance of getting bacteria and rot easily if kept without care after being taken out from the cold storage. For transportation, specialized trucks needs to be engaged to transport these vegetables in a stipulated environment. Hence, a large number of manufacturers are trying to start their logistics to increase their profits.

Also, these providers don’t have transportation mediums dedicated to frozen foods, and transport all the types of frozen foods in the same trucks or other transportation mediums. Asian countries such as India, China are amongst the fastest growing countries for cold chain industry.

Based on the distribution channel Segment, the valuation of hypermarkets/supermarkets segment is US$ 64.2 Bn in 2023 and is growing at a CAGR of 4.5%.

“How is Consumer Demand for Variety and Manufacturers Focus on New Product Launches Leading Market Growth?”

When it comes to product diversity and variety, the frozen food business has a lot of potential. New products will come on the menu as a result of many people opting out of eating meat. The plant-based food business, in particular, is predicted to increase rapidly. The growth of frozen fruits and vegetables segment is also steadily increasing due to shifting preferences. Manufacturers, by using advanced freezing technologies are able to preserve the nutritional content.

Leading companies in the U.S. are expanding and partnering with their counterparts to enjoy potential growth opportunities. Leading cash-strapped packaged food firms like Kraft, Kellogg, and Unilever are on the lookout for further acquisitions, and they've been focusing on smaller food companies, bringing niche products into the mainstream.

  • General Mills, Inc. has a joint Venture with Nestlé S.A. and are collectively competing in the ready-to-eat cereal category in all regions excluding North America. The company also has a joint venture with Häagen-Dazs Japan, Inc. (HDJ) which competes in the super premium ice cream segment in Japan.

“What are the Factors Affecting the Market Growth of Frozen Foods?”

The major factor affecting the market growth of frozen foods is the growing population of health conscious consumers who prefer fresh foods over frozen. Consumers are more ready than ever to pay a premium for organic, nutritious food goods that are free of pesticides and synthetic fertilisers, and they are gravitating toward fresh products as a result. Consumers are becoming more sophisticated and knowledgeable, and they recognise that frozen foods are just as delicious as fresh, but there is still a long way to go.

Manufacturing frozen foods is a high-risk procedure. With temperatures ranging from 25 to -30 degrees Celsius, hygiene standards must be stringent in order to avoid contamination and preserve public health. Cleaning food processing equipment is required on a regular basis, typically twice daily for some procedures. However, certain essential parts, such as motors, are frequently supplied with protective paint coatings, which can deteriorate and damage under corrosive wash down conditions, posing the risk of contamination.

As per study on frozen foods market by Persistence Market Research it has been found that the Asia Pacific is expected to be the fastest growing region with ongoing food trends of ready meals and ready-to-cook in Asian countries. One of the major market challenge is barriers for new entrants. It is capital expensive procedure to set up required infrastructure for production, storage and supply of frozen foods in developing countries such as India and China. The penetration of frozen foods through convenience stores is also restricted due to poor storage facilities.

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Country-wise insights

Which European Country is a leading market for Frozen Foods?

The country with highest demand for frozen foods in Europe is Germany with a valuation of US$ 27.1 Bn in 2023. The major factor driving the growth of frozen foods is soaring demand for convenience and ready-to-eat products. Furthermore, the market is expanding at a CAGR of 4.4%.

Which Country holds the highest demand for Frozen Foods in South Asia & Pacific?

The increasing investments and manufacturers efforts in product launches, infrastructure developments in this region are pushing the market growth. The market is valued at US$ 15.0 Bn in 2023 and is set to reach a valuation of US$ 28.3 Bn.

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Category-wise insights

Which Product Type is Offering Promising Growth Opportunities for Frozen Foods Market?

On the basis of product type, the ready meals segment holds highest market share and is anticipated to reach US$ 109.2 Bn by the end of 2033. Moreover, the growing demand for meat, fish and seafood products across regions is promoting the market growth of frozen products and the fish/seafood products are growing at a CAGR of 6.0%.

Why is Demand Organic Frozen Foods Increasing from Consumers?

The demand for organic products is increasing owing to the growing health consciousness among consumers across all the regions. The consumption of organic frozen foods is growing at a value CAGR of 5.4% to reach a valuation of US$ 94.1 Bn by the end of the forecast period.

Competitive Landscape

Key Manufacturers of frozen foods are strategically investing in scaling up processing capacities to improve production and strengthen their presence in the market. Manufacturers are also prioritizing the new product development as well as strengthening their logistical capabilities.

  • In November 2017, ITC Limited launched Farmland, a new brand that offers fresh fruits and vegetables. The company offers innovative products such as natural low sugar potatoes, potatoes with natural antioxidants, etc. The company continues to offer products such as baby potatoes, French fry potatoes, and frozen vegetables.
  • In June 2021, The Kraft Heinz Company introduced omelette rounds under Just Crack an Egg brand. The Omelette rounds are protein packed breakfast snack that can be prepared in a minute. The company is marketing its products as free from artificial flavors, dyes or preservatives.
  • In July 2019, McCain Foods a leading producer of frozen products has announced investment in a frozen French fry factory in Brazil. It is the first of its kind investment by the company and in line with its expansion strategy. This facility helped to increase production capacity and ensure continuous supply of value added products.
  • In June 2019, Birds Eye, a frozen food brand of Conagra, introduced new easy-to-prepare entrees including three cheese ziti, Chicken alfredo pasta, cheesy chicken & broccoli and cheddar mac & cheese.

Frozen Foods Market Report Scope

Attribute

Details

Forecast period

2023-2033

Historical data available for

2018-2022

Market analysis

USD Billion for value

Key regions covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa

Key countries covered

  • U.S.
  • Canada
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • Australia
  • New Zealand
  • GCC Countries
  • Turkey
  • Northern Africa
  • South Africa

Key market segments covered

  • Product Type
  • Nature
  • Distribution Channel
  • Region

Key companies profiled

  • Ajinomoto Co., Inc.
  • Arytza AG
  • Associated British Foods Plc
  • Cargill, Incorporated
  • Conagra Brands
  • General Mills Inc.
  • JBS Brazil
  • Kellogg's Company
  • McCain Foods
  • Nestlé S.A.
  • The Kraft Heinz Company
  • Others

Report coverage

  • Market forecasts
  • Company share analysis
  • Competition intelligence
  • DROT analysis
  • Market dynamics and challenges
  • Strategic growth initiatives

Customization & pricing

Available upon request

Frozen Foods Industry Research by Category

Frozen Foods Market by Product Type:

  • Ready Meals
  • Fish/Seafood
  • Meat
  • Dairy Products
  • Fruits & Vegetables
  • Pizza & Pasta
  • Bakery products

Frozen Foods Market by Nature:

  • Organic
  • Conventional

Frozen Foods Market by Distribution Channel:

  • Business to Business (Foodservice)
  • Business to Consumer
    • Hypermarket/Supermarket
    • Convenience Stores
    • Specialty Stores
    • Online Retail

Frozen Foods Market by Region

  • North America Frozen Foods Market
  • Latin America Frozen Foods Market
  • Europe Frozen Foods Market
  • East Asia Frozen Foods Market
  • South Asia & Pacific Frozen Foods Market
  • Middle East & Africa Frozen Foods Market

- Companies Covered in This Report -

  • Ajinomoto Co., Inc.
  • Nestlé S.A.
  • Kraft Foods Group, Inc.
  • ConAgra Foods, Inc.
  • General Mills, Inc.
  • H.J. Heinz Company
  • Tyson Foods, Inc.
  • Unilever PLC
  • Maple Leaf Foods Inc.
  • Pinnacle Foods Inc.
  • Others (Available on Request)

- Frequently Asked Questions -

The European frozen foods market is currently valued at over US$ 111.5 Bn.

The top 5 demand countries for frozen foods are the U.S., Germany, China, the U.K., and France.

Brazil holds around 43% share which is the largest market share for frozen foods in Latin America.

The market for frozen foods is valued at US$ 22.1 Bn in 2023 and is growing at a CAGR of 6.3% to reach a market valuation of US$ 40.7 Bn by the end of forecast period.

Few key players in the frozen foods market are Conagra Brands, The Kraft Heinz Company, Associated British Foods Plc, McCain Foods and Kellogg’s Company. The top 5 manufacturers account for around 45-50% of market share.

The market valuation of U.K. frozen foods is US$ 30.6 Bn by 2033, and that of India will reach US$ 28.3 Bn.

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