Frozen Food Market - Growth, Trend, and Forecast (2019 - 2024).

Global Frozen Food Market is segmented by Category into ready-to-eat, ready-to-cook, ready-to-drink, and others; by type into frozen fruits and vegetables, frozen meat and fish, frozen-cooked ready meals, frozen desserts, frozen snacks, and others; by Freezing Technique into individual quick freezing (IQF), blast freezing, belt freezing, and other freezing techniques; by distribution channel into Supermarkets & Hypermarkets, Convenience Stores, Online Channels, and Others; and by Geography.

Market Snapshot

Study Period:

2016-2024

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

4.3 %

Major Players:

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Market Overview

The frozen food market projected to grow with a CAGR of 4.3%, during the forecast period (2019-2024). In 2017, Europe was the largest geographical segment of the market studied and accounted for around one third share of market.

The market is primarily driven by rising disposable income, the introduction of longer shelf life products, increasing impulse purchasing, and huge demand for frozen food products, due to the lack of time. The market evolved from selling raw foods, such as frozen meat, fish, vegetables, and fruits to prepared foods and frozen vegetable mixes (with meat, rice, and pasta), frozen desserts, and bakery products. Ice creams and cakes emerged as the leading product category in this market. The factors affecting the market’s growth include flavors, including sweetness, fat content, and texture.

 

Scope of the Report

The frozen food market is segmented by category into ready-to-eat, ready-to-cook, ready-to-drink, and other frozen food types; by type into frozen fruits and vegetables, frozen meat and fish, frozen-cooked ready meals, frozen desserts, frozen snacks, and other applications; by freezing Technique into individual quick freezing (IQF), blast freezing, belt freezing, and other freezing techniques; and by distribution channel into Supermarkets & Hypermarkets, Convenience Stores, Online Channels, and Others. Also, the study provides an analysis of the frozen food market in the emerging and established markets across the globe, including North America, Europe, Asia-Pacific, South America, and Middle East & Africa.

By Product Category
Ready-to-eat
Ready-to-cook
Ready-to-drink
Others
By Product Type
Frozen fruits and vegetables
Frozen meat and fish
Frozen-cooked ready meals
Frozen desserts
Frozen snacks
Others
By Freezing Technique
Individual quick freezing (IQF)
Blast freezing
Belt freezing
Others
By Distribution Channel
Supermarkets & Hypermarkets
Convenience Stores
Online Channels
Others
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Spain
United Kingdom
Germany
France
Italy
Russia
Rest of Europe
Asia Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
South Africa
Saudi Arabia
Rest of Middle East and Africa

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Key Market Trends

Demand for Nutritious Frozen Desserts Among Consumers

Many consumers are increasingly looking for a convenient frozen dessert-based snack, which delivers health benefits, tastes good, and offers a healthy snacking experience. The dairy industry in this sector is able to offer products with minimal processing, and low sugar content (particularly beneficial for diabetic patients) for easy eating experiences that go beyond the traditional three-square meal experience (good and filling meal). Milk-based frozen desserts provide food rich in nutrients, like vitamin D, calcium, potassium, magnesium, and vitamin A. Milk-based snacks also add more calories, protein, and a number of vitamins and minerals. They can, therefore, provide positive nutrition and help reduce nutrition deficiency. The nutrients in dairy-based frozen products include calcium, vitamin D, phosphorus, potassium, and vitamin A. Further, calcium, phosphorus, and protein contained in ice creams, yogurts, etc. drive up the demand for these products among consumers.

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Europe Continue to Dominate the Global Market

Europe is the largest market for frozen food products, globally. Customers attitude toward frozen food has transformed significantly in Europe since the 1990s, driven by an improvement in living standards and an increasing need for convenience. Consumption level for frozen foods remains high across Europe, although the growth was rather limited in certain parts of the region during 2013-2016. This can be attributed to the intense competition the sector faces from chilled prepared foods, which are increasingly being perceived as foods that offer superior taste and quality, compared to their frozen equivalents. Recent evidence suggests that most manufacturers have been successful, as the frozen food market is back on the growth trajectory in countries, such as the United Kingdom, France, and Germany.

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Competitive Landscape

The frozen food market is a highly fragmented market and comprises of regional and international competitors. The market is dominated by players, like Unilever, Nestle SA, General Mills, Nomad Foods Ltd, Tyson Foods Inc., and Conagra Brands Inc. The leading players in the frozen food market enjoy a dominant presence worldwide. These players focus to leverage opportunities posed by emerging markets to expand their product portfolio so that they can cater to the requirements for various product segments, especially frozen desserts. Companies compete on different factors, including product offerings, ingredients, quality, taste, flavors, price, functionality, size, packaging, and marketing activities, in order to gain the competitive advantage in the market.

Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Category

      1. 5.1.1 Ready-to-eat

      2. 5.1.2 Ready-to-cook

      3. 5.1.3 Ready-to-drink

      4. 5.1.4 Others

    2. 5.2 By Product Type

      1. 5.2.1 Frozen fruits and vegetables

      2. 5.2.2 Frozen meat and fish

      3. 5.2.3 Frozen-cooked ready meals

      4. 5.2.4 Frozen desserts

      5. 5.2.5 Frozen snacks

      6. 5.2.6 Others

    3. 5.3 By Freezing Technique

      1. 5.3.1 Individual quick freezing (IQF)

      2. 5.3.2 Blast freezing

      3. 5.3.3 Belt freezing

      4. 5.3.4 Others

    4. 5.4 By Distribution Channel

      1. 5.4.1 Supermarkets & Hypermarkets

      2. 5.4.2 Convenience Stores

      3. 5.4.3 Online Channels

      4. 5.4.4 Others

    5. 5.5 Geography

      1. 5.5.1 North America

        1. 5.5.1.1 United States

        2. 5.5.1.2 Canada

        3. 5.5.1.3 Mexico

        4. 5.5.1.4 Rest of North America

      2. 5.5.2 Europe

        1. 5.5.2.1 Spain

        2. 5.5.2.2 United Kingdom

        3. 5.5.2.3 Germany

        4. 5.5.2.4 France

        5. 5.5.2.5 Italy

        6. 5.5.2.6 Russia

        7. 5.5.2.7 Rest of Europe

      3. 5.5.3 Asia Pacific

        1. 5.5.3.1 China

        2. 5.5.3.2 Japan

        3. 5.5.3.3 India

        4. 5.5.3.4 Australia

        5. 5.5.3.5 Rest of Asia-Pacific

      4. 5.5.4 South America

        1. 5.5.4.1 Brazil

        2. 5.5.4.2 Argentina

        3. 5.5.4.3 Rest of South America

      5. 5.5.5 Middle East and Africa

        1. 5.5.5.1 South Africa

        2. 5.5.5.2 Saudi Arabia

        3. 5.5.5.3 Rest of Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 General Mills, Inc

      2. 6.4.2 Unilever

      3. 6.4.3 Nestle SA

      4. 6.4.4 Tyson Foods, Inc

      5. 6.4.5 Nomad Foods Ltd

      6. 6.4.6 Ajinomoto Co. Inc.

      7. 6.4.7 Conagra Brands Inc.

      8. 6.4.8 Frosta Aktiengesellschaft

      9. 6.4.9 The Kraft Heinz Company

      10. 6.4.10 Dr. Oetker

      11. 6.4.11 Fonterra Co-operative Group

      12. 6.4.12 McCain Foods Limited

  7. *List Not Exhaustive
  8. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

** Subject to Availability

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