Frozen Food Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Global Frozen Food Market is Segmented by Product Category (Ready-to-eat, Ready-to-cook, Ready-to-drink, and Other Product Categories), Product Type (Frozen Fruits and Vegetables, Frozen Meat and Fish, Frozen-cooked Ready Meals, Frozen Desserts, Frozen Snacks, and Other Product Types), Freezing Technique (Individual Quick Freezing (IQF), Blast Freezing, Belt Freezing, and Other Freezing Techniques), Distribution Channels (Supermarkets/Hypermarkets, Convenience Stores, Online Channels, and Other Distribution Channels), and Geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa). The report offers market size and forecasts for the frozen food market in value (USD million) for all the above segments.

Market Snapshot

Frozen Food Market Size
Study Period: 2016 -2027
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: Europe
CAGR: 4.3 %
Frozen Food Market Key Players

Need a report that reflects how COVID-19 has impacted this market and its growth?

Market Overview

The global frozen food market is projected to register a CAGR of 4.3% during the forecast period (2022-2027).

The COVID-19 outbreak had a significant impact on all the industries worldwide, but it has positively impacted the frozen food market. Since COVID-19 began, the frozen food industry has seen steady growth. For instance, according to the American Frozen Food Institute, frozen food products witnessed a 21% increase compared to 2019. The primary reason for this growth is that people have gravitated toward foods with longer shelf lives.

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.

WIth the strong support in terms of technological innovation and the advantages of frozen food, the products have become much more accessible and affordable for consumers across the globe. The advent of new technologies has resulted in the affordability of frozen food.

Scope of the Report

Frozen food is defined as food products that are preserved under low temperatures and used over a long period. The frozen food market is segmented by product category into ready-to-eat, ready-to-cook, ready-to-drink, and other frozen food types. By product type, the market is segmented into frozen fruits and vegetables, frozen meat and fish, frozen-cooked ready meals, frozen desserts, frozen snacks, and other product types. Based on the freezing technique, the market is segmented into individual quick freezing (IQF), blast freezing, belt freezing, and other freezing techniques. By distribution channel, the market is segmented into supermarkets/hypermarkets, convenience stores, online channels, and other distribution channels. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle-East and Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).

By Product Category
Ready-to-eat
Ready-to-cook
Ready-to-drink
Other Product Categories
By Product Type
Frozen Fruits and Vegetables
Frozen Meat and Fish
Frozen-cooked Ready Meals
Frozen Desserts
Frozen Snacks
Other Product Types
By Freezing Technique
Individual Quick Freezing (IQF)
Blast Freezing
Belt Freezing
Other Freezing Techniques
By Distribution Channel
Supermarkets/Hypermarkets
Convenience Stores
Online Channels
Other Distribution Channels
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

Report scope can be customized per your requirements. Click here.

Key Market Trends

Increasing Demand for Convenience Food

Convenience food is prepared food that requires minimum or no further preparation to be consumed. This category includes canned food, packaged food or meals, frozen food, preserved food, and instant products, among others. With technological innovations in the food industry, the range of convenience food has expanded from chilled, frozen, portion-controlled, microwave-able, shelf-stable, prepared-mixes, and others. Frozen food holds a huge share in this segment. As more women are entering the workforce and lifestyles are changing, the global demand for frozen meals and ingredients is growing. The growth of convenience retail in emerging economies is widening access to frozen food products. This is a significant driver for the frozen category. Frozen ready meals are a big seller; alluring people with hectic lifestyles, people who are trying to lose weight, and people who live alone and do not want to prepare a full meal contributed to the growth of the market.

Frozen Food Market share

Europe Continue to Dominate the Global Market

Europe is the largest market for frozen food products globally. Consumers' attitude toward frozen food has transformed significantly in Europe, driven by an improvement in living standards and an increasing need for convenience. The consumption level for frozen foods remains high across Europe, although the growth was rather limited in certain parts of the region. 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.

Frozen Food Market Growth

Competitive Landscape

The frozen food market is highly competitive and comprises 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 on leveraging opportunities posed by emerging markets to expand their product portfolio so that they can cater to the requirements of 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 a competitive advantage in the market.

Recent Development

  • In 2021, Nomad Foods Limited completed its previously announced acquisition of Fortenova Group's frozen food business (Fortenova Frozen) for purchase of approximately EUR 615 million.
  • In 2021, Tyson Foods Inc. launched a new line of plant-based products in select retail markets and e-Commerce across the Asia-Pacific under the brand First Pride, which will introduce frozen Bites, Nuggets, and Stripsmade.
  • In 2021, Nestle expanded its frozen food factory in South Carolina with the investment of USD 100 million for the company's brands, such as Stouffer's and Lean Cuisine.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 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 Other Product Categories

    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 Other Product Types

    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 Other Freezing Techniques

    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 Other Distribution Channels

    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 McCain Foods Limited

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

  8. 8. IMPACT OF COVID-19 ON THE MARKET

**Subject to Availability

You can also purchase parts of this report. Do you want to check out a section wise price list?

Frequently Asked Questions

The Frozen Food Market market is studied from 2016 - 2027.

The Frozen Food Market is growing at a CAGR of 4.3% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Europe holds highest share in 2021.

Nestle SA, Tyson Foods, Nomad Foods Ltd, General Mills Inc, Unilever Plc are the major companies operating in Frozen Food Market.

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!