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

The Frozen Food Market is segmented by type into ready-to-eat, ready-to-cook, ready-to-drink, and other frozen food types, by application into frozen fruits and vegetables, frozen meat and fish, frozen-cooked ready meals, frozen desserts, frozen snacks, and other applications, and by freezing technique into individual quick freezing (IQF), blast freezing, belt freezing, and other freezing techniques. A geographical analysis of the top 16 markets across the world is provided.

Market Snapshot

frozen food market snapshot
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

Europe

Key Players:

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Market Overview

The frozen food market was valued at USD 294.19 billion in 2018 and is expected to register 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 a share of around 33.8% of the 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

Frozen food, in general, is the food that has been subjected to rapid freezing and is kept frozen until used. The frozen food market report (henceforth, referred to as the market studied) offers key insights into the latest developments. It analyzes the recent opportunities, drivers, and challenges affecting the market space for frozen food.

Product Type
Frozen Fruits and Vegetables
Frozen Meat and Seafood
Frozen Ready-to-eat Meals
Frozen Bakery Products
Frozen Dessert
Frozen Snacks
Other Product Types
Distribution Channel
Supermarket/Hypermarket
Specialty Stores
Convenience Stores
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
France
Russia
Spain
Rest of Europe
Asia - Pacific
China
Japan
India
South Korea
Rest of Asia - Pacific
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
South Africa
Saudi Arabia
Rest of Middle East & 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.

frozen food key trend1

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Europe to Dominate the 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.

frozen Food region

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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.

Major Players

  1. General Mills
  2. Unilever
  3. Nestle SA
  4. Tyson Foods
  5. Nomad Foods Ltd

* Complete list of players covered available in the table of contents below

frozen food CL

Download the market shares of key players in this industry.

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 Industry Attractiveness - Porter's Five Force Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers

      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 Product Type

      1. 5.1.1 Frozen Fruits and Vegetables

      2. 5.1.2 Frozen Meat and Seafood

      3. 5.1.3 Frozen Ready-to-eat Meals

      4. 5.1.4 Frozen Bakery Products

      5. 5.1.5 Frozen Dessert

      6. 5.1.6 Frozen Snacks

      7. 5.1.7 Other Product Types

    2. 5.2 Distribution Channel

      1. 5.2.1 Supermarket/Hypermarket

      2. 5.2.2 Specialty Stores

      3. 5.2.3 Convenience Stores

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Russia

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia - Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 South Korea

        5. 5.3.3.5 Rest of Asia - Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 South Africa

        2. 5.3.5.2 Saudi Arabia

        3. 5.3.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Mergers and Acquisitions

    3. 6.3 Company Profiles

      1. 6.3.1 General Mills Inc.

      2. 6.3.2 Unilever

      3. 6.3.3 Ajinomoto Co. Inc.

      4. 6.3.4 Conagra Brands Inc.

      5. 6.3.5 Nestlé SA

      6. 6.3.6 Frosta Aktiengesellschaft

      7. 6.3.7 Nomad Foods Ltd

      8. 6.3.8 The Kraft Heinz Company

      9. 6.3.9 Dr. Oetker

      10. 6.3.10 Tyson Foods Inc.

      11. 6.3.11 Fonterra Co-operative Group

      12. 6.3.12 Amy's Kitchen Inc.

      13. 6.3.13 McCain Foods

      14. 6.3.14 Rich Products Corporation

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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