Frozen Food Market Forecasts to 2028 - Global Analysis By Product Type (Meat & Poultry products, Fruits & vegetables, Bakery products, Dairy products, Seafood products, Ready meals and Other Product Types), Category (Ready-to-eat, Raw material, Ready-to-drink, Half-cooked, Ready-to-cook and Other Categories, Distribution Channel, Freezing Technique, End User and By Geography
Estimated Year Value (2022)
US $189.5 BN
Projected Year Value (2028)
US $284.7 BN
CAGR (2022 - 2028)
North America, Europe, Asia Pacific, South America, and Middle East & Africa
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa
Highest Growing Market
According to Stratistics MRC, the Global Frozen Food Market is accounted for $189.5 billion in 2022 and is expected to reach $284.7 billion by 2028 growing at a CAGR of 7.1% during the forecast period. Frozen food is defined as food products that are preserved under low temperature and used over a long period. Since early times, ranchers, anglers, and trappers have protected grains and delivered them in unheated buildings during the winter season. Solidifying nourishment moderates deterioration by turning remaining dampness into ice, restraining the development of most bacterial species.
According to Organization for Economic Co-operation and Development (OECD, food services via online platforms is increased by 66.3% in Korea. According to an article published in BioMed Central (BMC), nearly 36% of adults in the U.S. reported consumption of ready-to-eat meals.
Busy lifestyle of consumers
The busy lifestyle of consumers due to demanding work cultures is fueling the growth of the market. People who lead hectic lives find it difficult to prepare meals at home, which forces them to choose frozen food items. Due to an increased number of women entering the workplaces and changing lifestyles is boosting the demand for the market.
Lack of infrastructure
Emerging nations are still lacking in the infrastructure of cold chain and are not being able to provide safe products to their populace. Though these foods shelf life is very long, adequacy of infrastructure leads to the wastage of these food products resulting in a loss to its producers. The lack of a reliable electricity supply is also a major challenge for the growth of the market.
Mounting demand for convenience food
Consumers are more inclined toward convenience food products due to their ease of preparation and consumption. The demand for the products is increasing rapidly due to the drastic shift in dietary habits among consumers. Also, this urbanization trend contributes significantly toward improved living standards and rising incomes, which influences the market expansion.
Rising preference for fresh food
Frozen food is lower alternative to fresh food among certain consumers, which is a major drawback in the market. However, lack of awareness about food safety and hygiene practices can lead to issues like food contamination and spoilage which hampers the growth of the market.
Impact of COVID-19 pandemic was positive on the market. The demand for frozen foods suddenly grew during the pandemic, as these products have a longer shelf life, thus can be stored for a longer period of time. The demand was rising and the supply was not up to the mark due to the lockdowns declared by various governments across the nations. Considering the increased demand, governments allowed the production of edible food across the globe. This has shifted consumer buying pattern drastically.
The ready meals segment is expected to be the largest during the forecast period
The ready meals segment is estimated to have a lucrative growth, due to the changing and busy lifestyles of people. It is extremely affordable convenient and helps in saving time as the food requires hardly any time to cook. These are microwaveable, portion controlled and shelf stable. Increase in the consumption of frozen foods due to high amount of disposable income and increased spending power is the major factor driving the growth of the market.
The online channels segment is expected to have the highest CAGR during the forecast period
The online channels segment is anticipated to witness the fastest CAGR growth during the forecast period, due to its advantages. Increase in internet penetration and quick access to smartphones have resulted in more purchase through online channels. As a result, several food chains are shifting toward online portals to enhance online food ordering for these fast food chains which, in turn, augment the growth of the segment.
Region with Largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the increasing availability of frozen products. Increase in refrigeration facilities in retail stores and an increase in the availability of frozen foods through online retailers are the factors driving the region growth.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period, owing to improved living standards and an increasing need for convenience. Population growth, rapid urbanization, and the rise in consumer awareness about the benefits of frozen food are the key factors driving the demand for frozen food in the region.
Key players in the market
Some of the key players profiled in the Frozen Food Market include The Kellogg Company, Unilever PLC, Nomad Foods Ltd., Nestle SA, Ajinomoto Company, General Mills, Inc, McCain Foods Limited, The Kraft Heinz Company , Tyson Foods Inc, Wawona Frozen Foods, Conagra Brands Inc., Bellisio Parent, LLC, Smith Frozen Foods Inc, Associated British Foods Plc, Cargill, Vandemoortele NV and Grupo Bimbo.
In February 2022, Tyson Foods Inc. announced its plans to build a new facility in Bowling Green, Kentucky, to expand the production of bacon with an investment of USD 355 million. The facility started producing products for the Wright Brand and Jimmy Dean brands offering a range of frozen and refrigerated products in the market.
In March 2021, Nomad Foods acquired Fortenova’s frozen food business. The deal for the divestment of the business mentioned above covers Ledo Plus, Ledo Citluk, Frikom, and several smaller affiliated companies.
Product Types Covered:
• Meat & Poultry products
• Fruits & vegetables
• Bakery products
• Dairy products
• Seafood products
• Ready meals
• Other Product Types
• Raw material
• Other Categories
Distribution Channels Covered:
• Convenience Stores
• Online Channels
• Other Distribution Channels
Freezing Techniques Covered:
• Blast Freezing
• Individual Quick Freezing (IQF)
• Belt Freezing
• Other Freezing Techniques
End Users Covered:
• Food Service
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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• Competitive Benchmarking
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Table of Contents
1 Executive Summary
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
3 Market Trend Analysis
3.6 Product Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Frozen Food Market, By Product Type
5.2 Meat & Poultry products
5.3 Fruits & vegetables
5.4 Bakery products
5.5 Dairy products
5.6 Seafood products
5.7 Ready meals
5.8 Other Product Types
6 Global Frozen Food Market, By Category
6.3 Raw material
6.7 Other Categories
7 Global Frozen Food Market, By Distribution Channel
7.3 Convenience Stores
7.4 Online Channels
7.5 Other Distribution Channels
8 Global Frozen Food Market, By Freezing Technique
8.2 Blast Freezing
8.3 Individual Quick Freezing (IQF)
8.4 Belt Freezing
8.5 Other Freezing Techniques
9 Global Frozen Food Market, By End User
9.2 Food Service
9.4 Other End Users
10 Global Frozen Food Market, By Geography
10.2 North America
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.5 Other Key Strategies
12 Company Profiling
12.1 The Kellogg Company
12.2 Unilever PLC
12.3 Nomad Foods Ltd.
12.4 Nestle SA
12.5 Ajinomoto Company
12.6 General Mills, Inc
12.7 McCain Foods Limited
12.8 The Kraft Heinz Company
12.9 Tyson Foods Inc
12.10 Wawona Frozen Foods
12.12 Conagra Brands Inc.
12.12 Bellisio Parent, LLC
12.13 Smith Frozen Foods Inc
12.14 Associated British Foods Plc
12.16 Vandemoortele NV
12.17 Grupo Bimbo
List of Tables
1 Global Frozen Food Market Outlook, By Region (2020-2028) ($MN)
2 Global Frozen Food Market Outlook, By Product Type (2020-2028) ($MN)
3 Global Frozen Food Market Outlook, By Meat & Poultry products (2020-2028) ($MN)
4 Global Frozen Food Market Outlook, By Fruits & vegetables (2020-2028) ($MN)
5 Global Frozen Food Market Outlook, By Bakery products (2020-2028) ($MN)
6 Global Frozen Food Market Outlook, By Dairy products (2020-2028) ($MN)
7 Global Frozen Food Market Outlook, By Seafood products (2020-2028) ($MN)
8 Global Frozen Food Market Outlook, By Ready meals (2020-2028) ($MN)
9 Global Frozen Food Market Outlook, By Other Product Types (2020-2028) ($MN)
10 Global Frozen Food Market Outlook, By Category (2020-2028) ($MN)
11 Global Frozen Food Market Outlook, By Ready-to-eat (2020-2028) ($MN)
12 Global Frozen Food Market Outlook, By Raw material (2020-2028) ($MN)
13 Global Frozen Food Market Outlook, By Ready-to-drink (2020-2028) ($MN)
14 Global Frozen Food Market Outlook, By Half-cooked (2020-2028) ($MN)
15 Global Frozen Food Market Outlook, By Ready-to-cook (2020-2028) ($MN)
16 Global Frozen Food Market Outlook, By Other Categories (2020-2028) ($MN)
17 Global Frozen Food Market Outlook, By Distribution Channel (2020-2028) ($MN)
18 Global Frozen Food Market Outlook, By Supermarkets/Hypermarkets (2020-2028) ($MN)
19 Global Frozen Food Market Outlook, By Convenience Stores (2020-2028) ($MN)
20 Global Frozen Food Market Outlook, By Online Channels (2020-2028) ($MN)
21 Global Frozen Food Market Outlook, By Other Distribution Channels (2020-2028) ($MN)
22 Global Frozen Food Market Outlook, By Freezing Technique (2020-2028) ($MN)
23 Global Frozen Food Market Outlook, By Blast Freezing (2020-2028) ($MN)
24 Global Frozen Food Market Outlook, By Individual Quick Freezing (IQF) (2020-2028) ($MN)
25 Global Frozen Food Market Outlook, By Belt Freezing (2020-2028) ($MN)
26 Global Frozen Food Market Outlook, By Other Freezing Techniques (2020-2028) ($MN)
27 Global Frozen Food Market Outlook, By End User (2020-2028) ($MN)
28 Global Frozen Food Market Outlook, By Food Service (2020-2028) ($MN)
29 Global Frozen Food Market Outlook, By Retail (2020-2028) ($MN)
30 Global Frozen Food Market Outlook, By Other End Users (2020-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
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