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Frozen Food Market by Product and Geography - Forecast and Analysis 2021-2025

  • Published: Aug 2021
  • Pages: 122
  • SKU: IRTNTR41071
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The frozen food market share is expected to increase by USD 94.99 billion from 2020 to 2025, and the market's growth momentum will decelerate at a CAGR of 6.77%.

This frozen food market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers frozen food market segmentations by product (frozen ready meals, frozen meat and poultry, frozen fish and seafood, frozen fruits and vegetables, and others) and geography (Europe, North America, APAC, South America, and MEA). The frozen food market report also offers information on several market vendors, including Ajinomoto Co. Inc., BONDUELLE SA, Conagra Brands Inc., Dr August Oetker KG, George Weston Ltd., Kerry Group Plc, McCain Foods Ltd., Nestle SA, Nomad Foods Ltd., and Tyson Foods Inc. among others.

What will the Frozen Food Market Size be During the Forecast Period?

Frozen Food Market Size

Download the Free Report Sample to Unlock the Frozen Food Market Size for the Forecast Period and Other Important Statistics

 

Frozen Food Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The growing consumer inclination toward vegan frozen food is notably driving the frozen food market growth, although factors such as frequent number of product recalls may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the frozen food industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Frozen Food Market Driver

One of the key factors driving the frozen food market is growing consumer inclination toward vegan frozen food. There has been a rise in demand for vegan frozen foods among consumers. Vegan frozen foods comprise plant-based food products and plant-based dairy alternatives. The rise in veganism and growing awareness about vegan frozen foods is expected to drive the market. The demand for vegan frozen foods in countries such as the UK and the US has increased. This is further complemented by the growing demand for meat alternatives among the consumers in these countries. Growing consumer inclination toward such food products has encouraged vendors to increase their range of frozen vegan product offerings. In January 2020, Nestl launched plant-based sausages in Europe and the US. With this product line, the company aims to meet the consumer demand for meat-free evening meals. These products include tofu and wheat-based protein products, which are presumed to be healthy alternatives to meat-based frozen foods.

Key Frozen Food Market Trend

Another key factor driving the frozen food market growth is the technological innovations. Vendors that offer frozen food use various strategies to achieve a competitive edge in the global market. They are trying to improve the quality and shelf life of frozen foods with certain technological innovations. Innovative pouch packaging is one such method used by vendors to avoid the loss of nutrients in frozen foods. For instance, in 2019, UFlex designed a new film, which can control the amount of oxygen and carbon dioxide that flow in and out of a package. Such innovative feature helps in extending the shelf life of products. Other remarkable development in food packaging includes the usage of silver nanoparticles, which refrains bacterial growth. The unique packaging solution offered by the company allows consumers to take the frozen food from the refrigerator and place it directly in the microwave oven. The increasing availability of such innovative packaging solutions may encourage more vendors to offer innovative packaging, thereby reducing the use of plastic packaging.

Key Frozen Food Market Challenge

Frequent number of product recalls is one of the key challenges hindering the frozen food market growth. Frequent product recalls may severely affect a company's brand image, sales, and growth. In February 2019, USDA announced that Bellisio Foods Inc., a brand of Charoen Pokphand Foods PCL, would recall the frozen home-style meals in Boston due to the presence of plastic glass in the food product. For instance, in July 2021, 8.5 million pounds of Tyson Foods frozen chicken was recalled due to listeria concerns. Similarly, in July, 2021, Natures Touch Frozen Foods Inc., recalled its frozen mangoes due to possibility of Hepatis A contamination. As a result, such an incident might create fear in the mind of consumers and impact market growth.

This frozen food market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global frozen food market as a part of the global packaged foods and meats market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the frozen food market during the forecast period.

Who are the Major Frozen Food Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Ajinomoto Co. Inc.
  • BONDUELLE SA
  • Conagra Brands Inc.
  • Dr August Oetker KG
  • George Weston Ltd.
  • Kerry Group Plc
  • McCain Foods Ltd.
  • Nestle SA
  • Nomad Foods Ltd.
  • Tyson Foods Inc.

 

This statistical study of the frozen food market encompasses successful business strategies deployed by the key vendors. The frozen food market is fragmented and the vendors are deploying growth strategies such as organic and inorganic strategies to compete in the market.

Product Insights and News

  • Ajinomoto Co. Inc.- The company offers frozen foods through Japan Food Products and International Food Products segments.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The frozen food market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Frozen Food Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the frozen food market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

 

Which are the Key Regions for Frozen Food Market?

Frozen Food Market Market segmentation by region

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46% of the market's growth will originate from North America during the forecast period. US is the key market for frozen food in North America. Market growth in this region will be faster than the growth of the market in Europe regions.

Europe is another significant region showing major market growth. The large markets for frozen foods in Europe include the UK, Germany, and Spain. Some factors influencing the growth of the frozen food market in Europe are the increasing number of consolidations through M&As and innovative marketing campaigns by vendors, as well as the premiumization of frozen foods products.This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Product Segments in the Frozen Food Market?

Frozen Food Market Segmentation

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The frozen food market share growth by the frozen ready meals will be significant during the forecast period. The frozen ready meals segment comprises frozen pizza, frozen pasta, frozen croissants, frozen Asian meals, frozen rice bowls, frozen noodle bowls, frozen crispy pancakes, frozen pies, among other products. Frozen ready meals are gaining popularity owing to the convenience and lesser time required for meal preparation. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the frozen food market size and actionable market insights on post COVID-19 impact on each segment.

 

Frozen Food Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Decelerate at a CAGR of 6.77%

Market growth 2021-2025

$ 94.99 billion

Market structure

Fragmented

YoY growth (%)

7.56

Regional analysis

Europe, North America, APAC, South America, and MEA

Performing market contribution

North America at 46%

Key consumer countries

US, Germany, UK, Japan, and China

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Ajinomoto Co. Inc., BONDUELLE SA, Conagra Brands Inc., Dr August Oetker KG, George Weston Ltd., Kerry Group Plc, McCain Foods Ltd., Nestle SA, Nomad Foods Ltd., and Tyson Foods Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Frozen Food Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive frozen food market growth during the next five years
  • Precise estimation of the frozen food market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the frozen food industry across Europe, North America, APAC, South America, and MEA
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of frozen food market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis: Packaged foods and meats

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ billion)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five forces analysis 2020 & 2025
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Product

    • 5.1 Market segments
      • Exhibit 15: Product - Market share 2020-2025 (%)
    • 5.2 Comparison by Product
      • Exhibit 16: Comparison by Product
    • 5.3 Frozen ready meals - Market size and forecast 2020-2025
      • Exhibit 17: Frozen ready meals - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 18: Frozen ready meals - Year-over-year growth 2020-2025 (%)
    • 5.4 Frozen meat and poultry - Market size and forecast 2020-2025
      • Exhibit 19: Frozen meat and poultry - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 20: Frozen meat and poultry - Year-over-year growth 2020-2025 (%)
    • 5.5 Frozen fish and seafood - Market size and forecast 2020-2025
      • Exhibit 21: Frozen fish and seafood - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 22: Frozen fish and seafood - Year-over-year growth 2020-2025 (%)
    • 5.6 Frozen fruits and vegetables - Market size and forecast 2020-2025
      • Exhibit 23: Frozen fruits and vegetables - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 24: Frozen fruits and vegetables - Year-over-year growth 2020-2025 (%)
    • 5.7 Others - Market size and forecast 2020-2025
      • Exhibit 25: Others - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 26: Others - Year-over-year growth 2020-2025 (%)
    • 5.8 Market opportunity by Product
      • Exhibit 27: Market opportunity by Product

    6 Customer landscape

    • 6.1 Customer landscape
      • Exhibit 28: Customer landscape

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 29: Market share by geography 2020-2025 (%)
    • 7.2 Geographic comparison
      • Exhibit 30: Geographic comparison
    • 7.3 Europe - Market size and forecast 2020-2025
      • Exhibit 31: Europe - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 32: Europe - Year-over-year growth 2020-2025 (%)
    • 7.4 North America - Market size and forecast 2020-2025
      • Exhibit 33: North America - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 34: North America - Year-over-year growth 2020-2025 (%)
    • 7.5 APAC - Market size and forecast 2020-2025
      • Exhibit 35: APAC - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 36: APAC - Year-over-year growth 2020-2025 (%)
    • 7.6 South America - Market size and forecast 2020-2025
      • Exhibit 37: South America - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 38: South America - Year-over-year growth 2020-2025 (%)
    • 7.7 MEA - Market size and forecast 2020-2025
      • Exhibit 39: MEA - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 40: MEA - Year-over-year growth 2020-2025 (%)
    • 7.8 Key leading countries
      • Exhibit 41: Key leading countries
    • 7.9 Market opportunity by geography
      • Exhibit 42: Market opportunity by geography ($ billion)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • Exhibit 43: Impact of drivers and challenges
      • 8.3 Market trends

        9 Vendor Landscape

        • 9.1 Overview
          • Exhibit 44: Vendor landscape
        • 9.2 Landscape disruption
          • Exhibit 45: Landscape disruption
          • Exhibit 46: Industry risks

        10 Vendor Analysis

        • 10.1 Vendors covered
          • Exhibit 47: Vendors covered
        • 10.2 Market positioning of vendors
          • Exhibit 48: Market positioning of vendors
        • 10.3 Ajinomoto Co. Inc.
          • Exhibit 49: Ajinomoto Co. Inc. - Overview
          • Exhibit 50: Ajinomoto Co. Inc. - Business segments
          • Exhibit 51: Ajinomoto Co. Inc. - Key offerings
          • Exhibit 52: Ajinomoto Co. Inc. - Segment focus
        • 10.4 BONDUELLE SA
          • 10.5 Conagra Brands Inc.
            • Exhibit 57: Conagra Brands Inc. - Overview
            • Exhibit 58: Conagra Brands Inc. - Business segments
            • Exhibit 59: Conagra Brands Inc. - Key news
            • Exhibit 60: Conagra Brands Inc. - Key offerings
            • Exhibit 61: Conagra Brands Inc. - Segment focus
          • 10.6 Dr August Oetker KG
            • Exhibit 62: Dr August Oetker KG - Overview
            • Exhibit 63: Dr August Oetker KG - Business segments
            • Exhibit 64: Dr August Oetker KG - Key offerings
            • Exhibit 65: Dr August Oetker KG - Segment focus
          • 10.7 George Weston Ltd.
            • Exhibit 66: George Weston Ltd. - Overview
            • Exhibit 67: George Weston Ltd. - Business segments
            • Exhibit 68: George Weston Ltd. - Key offerings
            • Exhibit 69: George Weston Ltd. - Segment focus
          • 10.8 Kerry Group Plc
            • Exhibit 70: Kerry Group Plc - Overview
            • Exhibit 71: Kerry Group Plc - Business segments
            • Exhibit 72: Kerry Group Plc - Key offerings
            • Exhibit 73: Kerry Group Plc - Segment focus
          • 10.9 McCain Foods Ltd.
            • Exhibit 74: McCain Foods Ltd. - Overview
            • Exhibit 75: McCain Foods Ltd. - Product and service
            • Exhibit 76: McCain Foods Ltd. - Key offerings
          • 10.10 Nestle SA
            • Exhibit 77: Nestle SA - Overview
            • Exhibit 78: Nestle SA - Business segments
            • Exhibit 79: Nestle SA - Key news
            • Exhibit 80: Nestle SA - Key offerings
            • Exhibit 81: Nestle SA - Segment focus
          • 10.11 Nomad Foods Ltd.
            • Exhibit 82: Nomad Foods Ltd. - Overview
            • Exhibit 83: Nomad Foods Ltd. - Product and service
            • Exhibit 84: Nomad Foods Ltd. - Key news
            • Exhibit 85: Nomad Foods Ltd. - Key offerings
          • 10.12 Tyson Foods Inc.
            • Exhibit 86: Tyson Foods Inc. - Overview
            • Exhibit 87: Tyson Foods Inc. - Business segments
            • Exhibit 88: Tyson Foods Inc. - Key news
            • Exhibit 89: Tyson Foods Inc. - Key offerings
            • Exhibit 90: Tyson Foods Inc. - Segment focus

          11 Appendix

          • 11.1 Scope of the report
            • 11.2 Currency conversion rates for US$
              • Exhibit 91: Currency conversion rates for US$
            • 11.3 Research methodology
              • Exhibit 92: Research Methodology
              • Exhibit 93: Validation techniques employed for market sizing
              • Exhibit 94: Information sources
            • 11.4 List of abbreviations
              • Exhibit 95: List of abbreviations

            Research Framework

            Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

            TechnavioINFORMATION SOURCES

            Primary sources

            • Manufacturers and suppliers
            • Channel partners
            • Industry experts
            • Strategic decision makers

            Secondary sources

            • Industry journals and periodicals
            • Government data
            • Financial reports of key industry players
            • Historical data
            • Press releases
            Technavio

            TechnavioDATA ANALYSIS

            Data Synthesis

            • Collation of data
            • Estimation of key figures
            • Analysis of derived insights

            Data Validation

            • Triangulation with data models
            • Reference against proprietary databases
            • Corroboration with industry experts
            Technavio

            TechnavioREPORT WRITING

            Qualitative

            • Market drivers
            • Market challenges
            • Market trends
            • Five forces analysis

            Quantitative

            • Market size and forecast
            • Market segmentation
            • Geographical insights
            • Competitive landscape
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            Frozen Food market growth will increase by $64.69 billion during 2020-2024.
            The frozen food market is expected to grow at a CAGR of 4.78% during 2020-2024.
            Technavio has segmented the frozen food market by product (Frozen ready meals, Frozen meat and poultry, Frozen fish and seafood, Frozen fruits and vegetables, and Others) ,end-user by volume (Europe, North America, APAC, South America, and MEA) , and geographic (Europe, North America, APAC, and South America).
            Ajinomoto Co. Inc., Bonduelle SCA, Conagra Brands Inc., Dr. August Oetker Nahrungsmittel KG, George Weston Ltd., Kerry Group Plc, McCain Foods Ltd., Nestlé SA, Nomad Foods Ltd., Tyson Foods Inc. are a few of the key vendors in the frozen food market.
            North America will register the highest growth rate of 35.02% among the other regions. Therefore, the frozen food market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
            The key factors driving the frozen food market growth are:
            • Expansion of retail stores offering frozen food
            • Technological innovations
            The frozen food market vendors should focus on grabbing business opportunities from the frozen ready meals segment as it accounted for the largest market share in the base year.
            • What are the key global market and the regional market share?
            • What are the revenue-generating key market segments?
            • What are the key factors driving and challenging this market’s growth?
            • Who are the key market vendors and their growth strategies?
            • What are the latest trends influencing the growth of this market?
            • What are the variables influencing the market growth in the primary regions?
            • What are the factors influencing the growth of the parent market?
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