[198 Pages Report] The Frozen Food Market size was estimated at USD 261.47 billion in 2023 and expected to reach USD 284.70 billion in 2024, at a CAGR 8.82% to reach USD 472.77 billion by 2030.
Frozen foods refer to a wide range of food items that have undergone freezing and storage at low temperatures, typically ranging from -18°C to -40°C. These food items include fruits, vegetables, meat, poultry, seafood, dairy products, baked goods, ready-to-eat meals, and other processed foods. The increasing demand for convenience in meal preparation is due to busy lifestyles, rising disposable incomes, and expanding urban populations. However, logistics and transportation issues involved in maintaining an uninterrupted cold chain from manufacturing facilities to retail outlets, and any failure in this process can result in product spoilage or contamination. In addition, technological advancements in refrigeration and packaging have further contributed to making frozen foods more accessible to a broader customer base.
In the American region, consumers prioritize convenience and value for money when purchasing frozen products. The demand for healthy and innovative options drives manufacturers to invest in research and development. In Asia-Pacific, frozen food consumption in China has grown rapidly due to urbanization, increasing disposable incomes, and changing lifestyles. The aging population and a growing number of dual-income households in Japan have increased frozen food consumption. The European market has a high preference for organic, plant-based, and ethically produced frozen foods. Initiatives such as the European Commission's Farm to Fork Strategy aim to reduce greenhouse gas emissions by promoting sustainable food production practices. In the Middle East and Africa, there is a rising demand for halal-certified frozen foods due to religious preferences.
The freezing process is crucial in maintaining the quality, flavor, and nutritional value of frozen foods. There are several techniques and equipment used in the industry, catering to varying needs and preferences. The most common freezing methods include blast freezing and individual quick freezing, In this technique, each food item is separately frozen using cryogenic fluids or a mechanical freezer, and cryogenic freezing. Packaging plays a vital role in protecting frozen foods from external factors such as moisture, oxygen exposure, UV light penetration while also preserving their freshness during transportation and storage. The main categories of frozen food packaging materials and formats include flexible and rigid packaging.
Frozen vegetables have become essential kitchen staples for many consumers due to their convenience and longer shelf life when compared to fresh produce. Frozen meat & seafood caters to busy households seeking quick meal solutions with minimal preparation time. Frozen snacks comprise ready-to-eat items that cater to various tastes and preferences. Frozen desserts satisfy consumer cravings for indulgence while offering the convenience of on-demand consumption.
The offline distribution channel has long been the primary means by which frozen foods reach customers. This encompasses various retail formats such as supermarkets, hypermarkets, convenience stores, and specialty retailers. The rise of eCommerce has transformed consumer behavior patterns significantly over recent years, leading many businesses within the frozen food industry to invest heavily in developing online distribution capabilities.
In the residential retail use sector, frozen food products are primarily purchased by individual households to be consumed at home. The availability of these products has made it easier for busy consumers to enjoy nutritious meal options without compromising on taste or quality. The commercial sector encompasses restaurants, fast-food chains, hotels, catering services, cafes, and other institutional facilities such as hospitals or schools where large quantities of frozen food are utilized.
The market dynamics represent an ever-changing landscape of the Frozen Food Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
The market disruption analysis delves into the core elements associated with market-influencing changes, including breakthrough technological advancements that introduce novel features, integration capabilities, regulatory shifts that could drive or restrain market growth, and the emergence of innovative market players challenging traditional paradigms. This analysis facilitates a competitive advantage by preparing players in the Frozen Food Market to pre-emptively adapt to these market-influencing changes, enhances risk management by early identification of threats, informs calculated investment decisions, and drives innovation toward areas with the highest demand in the Frozen Food Market.
The porter's five forces analysis offers a simple and powerful tool for understanding, identifying, and analyzing the position, situation, and power of the businesses in the Frozen Food Market. This model is helpful for companies to understand the strength of their current competitive position and the position they are considering repositioning into. With a clear understanding of where power lies, businesses can take advantage of a situation of strength, improve weaknesses, and avoid taking wrong steps. The tool identifies whether new products, services, or companies have the potential to be profitable. In addition, it can be very informative when used to understand the balance of power in exceptional use cases.
The value chain of the Frozen Food Market encompasses all intermediate value addition activities, including raw materials used, product inception, and final delivery, aiding in identifying competitive advantages and improvement areas. Critical path analysis of the <> market identifies task sequences crucial for timely project completion, aiding resource allocation and bottleneck identification. Value chain and critical path analysis methods optimize efficiency, improve quality, enhance competitiveness, and increase profitability. Value chain analysis targets production inefficiencies, and critical path analysis ensures project timeliness. These analyses facilitate businesses in making informed decisions, responding to market demands swiftly, and achieving sustainable growth by optimizing operations and maximizing resource utilization.
The pricing analysis comprehensively evaluates how a product or service is priced within the Frozen Food Market. This evaluation encompasses various factors that impact the price of a product, including production costs, competition, demand, customer value perception, and changing margins. An essential aspect of this analysis is understanding price elasticity, which measures how sensitive the market for a product is to its price change. It provides insight into competitive pricing strategies, enabling businesses to position their products advantageously in the Frozen Food Market.
The technology analysis involves evaluating the current and emerging technologies relevant to a specific industry or market. This analysis includes breakthrough trends across the value chain that directly define the future course of long-term profitability and overall advancement in the Frozen Food Market.
The patent analysis involves evaluating patent filing trends, assessing patent ownership, analyzing the legal status and compliance, and collecting competitive intelligence from patents within the Frozen Food Market and its parent industry. Analyzing the ownership of patents, assessing their legal status, and interpreting the patents to gather insights into competitors' technology strategies assist businesses in strategizing and optimizing product positioning and investment decisions.
The trade analysis of the Frozen Food Market explores the complex interplay of import and export activities, emphasizing the critical role played by key trading nations. This analysis identifies geographical discrepancies in trade flows, offering a deep insight into regional disparities to identify geographic areas suitable for market expansion. A detailed analysis of the regulatory landscape focuses on tariffs, taxes, and customs procedures that significantly determine international trade flows. This analysis is crucial for understanding the overarching legal framework that businesses must navigate.
The regulatory framework analysis for the Frozen Food Market is essential for ensuring legal compliance, managing risks, shaping business strategies, fostering innovation, protecting consumers, accessing markets, maintaining reputation, and managing stakeholder relations. Regulatory frameworks shape business strategies and expansion initiatives, guiding informed decision-making processes. Furthermore, this analysis uncovers avenues for innovation within existing regulations or by advocating for regulatory changes to foster innovation.
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Frozen Food Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Frozen Food Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Real Good Foods Announces Launch of Two New Global Entrées and Expansion into Publix Stores
The Real Good Food Company, Inc. has expanded its Global Entrees platform to over 1,200 Publix stores. This expansion introduces new flavors, such as Tika Masala and Korean BBQ, allowing RGF's Global Meals to be available in over 10,000 stores nationwide. The development of these new flavors was driven by feedback from the Company's community across various social platforms. [Published On: 2023-07-11]
Bikano Launches Range of Frozen Products in International Market
Bikano has launched a line of frozen products in the global market to achieve a 40 percent year-on-year growth from exports. By venturing into the international market, Bikano aims to capitalize on potential opportunities and anticipates reaching sales of INR 200 crores (USD 24.1 million) in the fiscal year 2023-2024. [Published On: 2023-05-25]
McCain Foods Acquires Scelta Products
McCain Foods acquired Scelta Products to maintain and strengthen its global prepared appetizer market position. This focused approach has allowed McCain to expand its product offerings and cater to a wider consumer base. Scelta Products' impressive range of frozen appetizers, such as onion rings, battered and breaded mushrooms, and other vegetable-based delights, seamlessly complements McCain's existing appetizer portfolio. By integrating Scelta Products' plant assets into McCain's extensive product network, production capacity is substantially boosted. This acquisition ensures that the excellence and innovation associated with Scelta Products are upheld and further cultivated under McCain's stewardship. [Published On: 2022-09-13]
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Frozen Food Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
The report delves into recent significant developments in the Frozen Food Market, highlighting leading vendors and their innovative profiles. These include Aryzta A.G., Associated British Foods PLC, Bonduelle S.A., Cargill Incorporated, Conagra Foods, Inc., General Mills Inc., Goya Foods, Inc., GreenYard, H.J. Heinz Company, Iceland Foods Ltd., JBS S.A., Kellogg Company, McCain Foods Limited, Mosaic Foods, Nestle S.A., Nichirei Corporation, and Nomad Foods Limited.
This research report categorizes the Frozen Food Market to forecast the revenues and analyze trends in each of the following sub-markets:
- Product
- Bakery Products
- Dairy Products
- Frozen Fish
- Frozen Fruits & Vegetables
- Frozen Meat
- Frozen Ready Meals
- Frozen Soup
- Freezing & Packaging Techniques
- Freezing Techniques & Equipment
- Air-Blast Freezers
- Belt Freezers
- Contact Freezers
- Tunnel Freezers
- Frozen Food Packaging
- Antimicrobials
- Edible Films
- Moisture Control
- Oxygen Scavengers
- Time Temperature Indicators
- Freezing Techniques & Equipment
- Type
- Half-Cooked
- Raw Material
- Ready-To-Drink
- Ready-To-Eat
- Distribution
- Offline
- Online
- End User
- Food Service Industry
- Retail Users
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
- Market Penetration: This section thoroughly overviews the current market landscape, incorporating detailed data from key industry players.
- Market Development: The report examines potential growth prospects in emerging markets and assesses expansion opportunities in mature segments.
- Market Diversification: This includes detailed information on recent product launches, untapped geographic regions, recent industry developments, and strategic investments.
- Competitive Assessment & Intelligence: An in-depth analysis of the competitive landscape is conducted, covering market share, strategic approaches, product range, certifications, regulatory approvals, patent analysis, technology developments, and advancements in the manufacturing capabilities of leading market players.
- Product Development & Innovation: This section offers insights into upcoming technologies, research and development efforts, and notable advancements in product innovation.
- What is the current market size and projected growth?
- Which products, segments, applications, and regions offer promising investment opportunities?
- What are the prevailing technology trends and regulatory frameworks?
- What is the market share and positioning of the leading vendors?
- What revenue sources and strategic opportunities do vendors in the market consider when deciding to enter or exit?
- Preface
- Research Methodology
- Executive Summary
- Market Overview
- Market Insights
- Frozen Food Market, by Product
- Frozen Food Market, by Freezing & Packaging Techniques
- Frozen Food Market, by Type
- Frozen Food Market, by Distribution
- Frozen Food Market, by End User
- Americas Frozen Food Market
- Asia-Pacific Frozen Food Market
- Europe, Middle East & Africa Frozen Food Market
- Competitive Landscape
- Competitive Portfolio
- List of Figures [Total: 26]
- List of Tables [Total: 656]
- List of Companies Mentioned [Total: 17]
First and foremost, the convenience offered by frozen food is a primary driver in its surging demand. In today's fast-paced world, there is a constant search to save time and energy with regard to meal preparation. Frozen food is the perfect solution to this problem, as it is designed to be quickly prepared and requires minimal effort. The rise of single-person households and hectic working schedules have also aided in propelling the demand for frozen food, leading consumers to opt for fast and convenient meal options.
Another important factor for the increase in the frozen food market is the number of women entering the workforce. More female workers mean less cooking time and a preference for readily available food options, which increases the demand for convenience meal solutions such as frozen food. With more women joining the labor force, the market for frozen food has seen a considerable shift in consumer preference, resulting in the expansion of product offerings that cater to the specific needs and tastes of female consumers.
In the past, there has been a certain stigma associated with frozen food, particularly that it is not a healthy option. However, with the technological advancements in freezing techniques, the nutritional value of frozen foods has improved considerably, and they are now seen as a practical and healthy choice. As consumers become more health-conscious, the frozen food industry has responded by catering to their demands for healthier options through the use of organic and natural ingredients and by offering gluten-free, low-fat, and vegetarian options. Moreover, there has been a growing adoption of frozen food among athletes, Bodybuilders, and fitness enthusiasts due to the convenience of high-protein and low-carb options.
The frozen food market has also expanded to include an extensive range of cuisines that cater to consumers' diverse tastes and preferences. This has given rise to the growth of specialty food products such as gourmet frozen entrées, organic frozen meals, frozen ethnic cuisine, and frozen snacks, among others. The growing availability of affordable exotic ingredients has opened up new avenues for innovation and experimentation in the frozen food industry. Furthermore, the entry of new brands has increased competition, resulting in an ever-growing product line of affordable and quality frozen food products.
The frozen food market has been expanding rapidly due to surging demand for convenience food options and a growing female working population. The frozen food industry has transformed its image by providing nutritional value and a diverse range of cuisines that cater to different consumer preferences. The growth in the frozen food market has opened up numerous opportunities and challenges, leading to a move towards more natural and health-focused product lines. With innovation and a focus on consumer needs, the frozen food industry is expected to continue broadening its scope, catering to the ever-changing consumer tastes and preferences.
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