Frozen Food Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMFB568 | Last Updated On: Jun 23 2022 | Available Formats

> Global Frozen Food Market Expected to reach a high CAGR of 5.60% By 2029: DataM Intelligence

Global Frozen Food Market is segmented by Product (Fruits & Vegetables, Dairy, Meat & Seafood), by Type (Raw Material, Half-Cooked), Consumption, Distribution Channel, and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

The Global Frozen Food Market is expected to grow at a  high CAGR during the forecasting period (2022-2029).

  • Frozen food is healthier than canned food. Frozen food is not heavily processed and it is just as healthy as fresh food. The Frozen Food market is not sensitive to economic conditions.

Market Drivers

  • Nuclear families in western and Asian markets are the biggest drivers for the frozen food Industry. Families don’t have enough time to cook the meal, so they are consuming ready-to-eat or ready to prepared frozen food on a large scale.

  • Millennials are more health-conscious than previous generations, but that has not negatively impacted Frozen Food Industry.

  • Nestle is making changes in more than 100 of its frozen-food products by removing artificial flavors and colors, high fructose corn syrup, and GMO ingredients.

  • Lack of awareness about frozen food, some people wrongly believe that freezing food removes nutrients. Thus Frozen Foods have had a bad reputation in recent years.

  • More and more awareness campaigns such as American Frozen Foods Institute started a campaign “Frozen, How Fresh Stays Fresh” to inform the public that freezing keeps food fresh by locking their flavor & nutrients. These campaigns will strengthen the demand for Frozen food products globally.

Industry Restraints

  • Frozen food is cheaper than fresh food.

  • However Frozen Food poses a severe health risk. Heavily processed frozen food may cause Diabetes, Heart Disease, Elevated blood pressure, cancer, and other threats.

  • Defrosted meat can rapidly become contaminated with Bacteria. Unsafely defrosted frozen food can cause food poisoning. These drawbacks are highly re-straining the frozen food market globally.

Market Segmentation

  • Based on product type, the Global Frozen food market can be segmented into Meat & Poultry, Fish/seafood, Fruits and Vegetables, Desserts, and Others.

  • In Desserts Ice-cream was the best-selling product in the frozen food market. Nestle is the key player that manufactures products in almost every single category.

Geographical Share

  • Based on Geography, the Global Frozen food market is segmented into South America, North America, Europe, Asia-Pacific, and the rest of the world.

  • North America and Europe dominate the frozen food market regarding market share.

  • In 2017, the average American spent around USD 130 on prepared frozen foods. Even though the Frozen food market is huge in the US, the growth rate is prolonged.

  • In Europe, Germany and the UK remain the largest market for frozen foods. These two countries account for over 40% of Western Europe’s frozen foods market in value terms.

  • While the US remains the biggest frozen foods consumer, Asia specifically India is witnessing tremendous growth in the frozen food market.

  • Ice cream sales in India increased in recent years. While Frozen food consumption is growing very fast, per capita consumption is still minimal compared to the US even than in China. So, there is massive potential for growth in the Asian market for Frozen Food.

Key Companies

The frozen food market is competing with the presence of various companies. Some of the critical players in the market are Nestle, Tyson Foods, ConAgra Foods, Unilever, Pinnacle, Kraft Heinz, General Mills, Schwan’s, and Kellogg’s. Nestle is the most significant player in the US frozen foods market.

Report Scope

  • The report covers the key factors impacting the market, Porter 5 Forces, Product Benchmarking, and company profiles.

  • The frozen food market is segmented by product type (Meat & Poultry, Fish/seafood, Fruits and Vegetables, Desserts, and Others). Based on geography the market is segmented into North America, South America, Europe, Asia Pacific, and the Rest of the world.

 

Trending Topics

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