Frozen Food Market Analysis Europe,North America,APAC,South America,Middle East and Africa - US,Japan,China,Germany,UK - Size and Forecast 2023-2027

Frozen Food Market Forecast 2023-2027

The frozen food market size is forecast to increase by USD 132.77 billion at a CAGR of 7.73% between 2022 and 2027. The expansion of retail stores offering frozen food is one of the key drivers fueling the frozen food market growth. The organized retail sector is undergoing a significant expansion, as indicated by the growing presence of supermarkets, hypermarkets, and specialty stores worldwide. Large organized retailers primarily sell frozen food products such as frozen food, frozen fish and seafood, frozen meat and poultry, and frozen fruits and vegetables. Thus, the expansion of retail stores is expected to drive market growth during the forecast period. This market research and growth report also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2017 to 2021 besides analyzing the current market scenario.

Frozen Food Market Overview

To get additional information about the market, Request Free Sample

In the dynamic and evolving market landscape, this industry continues to be a significant player, offering convenience and affordability to consumers. The distribution and availability of these products, facilitated by advanced technology and logistics, have expanded their reach to various quarters. The discerning taste buds of consumers are catered to with a diverse range of flavors and cuisines, ensuring that dietary preferences and restrictions are met. Furthermore, the facile nature of frozen food makes it an attractive option for those with busy schedules, as it eliminates the need for extensive meal preparation. The vegetarian and vegan markets have also seen a surge in demand for frozen food options, with an increasing number of manufacturers focusing on these segments. The future of the frozen food market looks promising, with the integration of technology and innovation driving growth.

Market Dynamics

In the contemporary marketplace, the commerce sector has witnessed a significant shift towards convenience and affordability. This sector encompasses a variety of products, including vegetables, fruits, meats, and ready-to-eat meals. The convenience factor is a major driving force behind its popularity. Consumers appreciate the ability to have a nutritious meal ready in minutes without the need for extensive meal preparation or preservation techniques. Additionally, the cost-effective nature of frozen food makes it an attractive option for households. Companies such as Con Agra Foods, Nestle, and PepsiCo have recognized this trend and have expanded their product offerings in the market. The global market is projected to grow significantly in the coming years, with a particular focus on sustainability and innovation in product development. The shift towards plant-based diets and the increasing demand for organic and natural food options are also influencing the market. Overall, the market presents a lucrative opportunity for businesses and investors alike, as it caters to the evolving needs and preferences of modern consumers.

Significant Market Trends

Technological innovations are one of the key market trends propelling the market growth. 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.

Moreover, the unique packaging solution offered by the company allows consumers to take frozen food from the refrigerator and place it directly in the microwave oven. Thus, the increasing availability of such innovative packaging solutions may encourage more vendors to offer innovative packaging, thereby reducing the use of plastic packaging.

Major Market Challenge 

Health risks associated with the consumption of frozen ready meals are one of the factors limiting the frozen food market growth. They are processed foods that are stored at a low temperature to prevent spoilage and increase their shelf life. Their manufacturers often substitute healthier ingredients with cheap alternatives.  Furthermore, the frequent consumption of frozen food puts consumers at risk of developing high blood pressure and other health-related problems.

Thus, increased consumer awareness regarding frozen food will limit the growth of the market during the forecast period. This 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 2022-2026. Such factors will hinder the market growth during the forecast period.

Market Segmentation

This market report extensively covers market segmentation by product (frozen ready-to-eat meals, frozen meat and poultry, frozen fish and seafood, frozen fruits and vegetables, and others), distribution channel (offline and online), and geography (Europe, North America, APAC, South America, and Middle East and Africa). The market encompasses door-to-door delivery of user-friendly, time-saving meals, including frozen pizzas, pastas, croissants, Asian meals, rice bowls, noodle bowls, crispy pancakes, and pies. This sector is growing due to its convenience for busy lifestyles and hectic schedules. However, challenges include potential high sodium content, additives, and sulfur. Consumers increasingly prioritize health and wellness, leading to demand for organic ingredients, lean protein options, plant-based alternatives, and vegetarianism/veganism. Technology facilitates price comparison and the availability of flexitarian diets, plant-based meat substitutes, dairy-free ice creams, and vegetable-based frozen meals. Single-serve and microwaveable snacks, along with pre-cut frozen produce, cater to the need for quick meal solutions.

By Product Type

The market share growth by the frozen ready meals segment will be significant during the forecast period. Frozen food can be defined as complete meals that do not require additional ingredients. The frozen food segment comprises frozen-pizza, frozen-pasta, frozen-croissants, frozen-Asian meals, frozen-rice bowls, and frozen-noodle bowls, among other products. Due to convenience and the shorter time needed for the preparation of meals, frozen foods are gaining popularity.

The frozen ready meals segment was the largest segment and was valued at USD 63.57 billion in 2017.

For a detailed summary of the market segments Request for Sample Report

Frozen food is often high in sulfur content, and its consumption may lead to an increase in blood pressure. Frozen food can also be reheated.  A shift in consumers towards healthier food options will also have a negative impact on the frozen food segment. Thus, the companies are trying to expand their frozen-ready meals product line with healthy varieties.

Frozen meat and poultry products offer nutritional benefits to consumers; meat and poultry products are a good source of nutrients, including vitamin B12, zinc, iron, fats, and proteins. Freezing is an ideal way to preserve animal products such as meat and poultry. A prolonged shelf life of a product can be achieved by the storage of frozen meat and poultry. Consumers' requirement for a protein-rich diet may influence the demand for frozen meat and poultry products. Furthermore, by setting up new production facilities for frozen meat and poultry products, certain producers seek to strengthen their presence on the market. Expansions by vendors offering frozen meat and poultry may increase the sales of these products and drive market growth during the forecast period. 

Key Regions

North America is estimated to contribute 44% to the growth of the global market during the forecast period.

Get a glance at the market share of various regions View PDF Sample

Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Another region offering significant growth opportunities to companies is Europe. The large markets for frozen foods in Europe include the UK, Germany, and Spain. Some factors influencing the growth of the market in Europe are the increasing number of mergers through M&As and innovative promotional campaigns by manufacturers and the premiumization of frozen food products.

The market, encompassing the UK, Germany, and Spain, experiences growth due to consolidations like Nomad Foods' USD637 million acquisition of Fortenova Group's frozen food business. Innovative marketing and premiumization are key drivers. In the evolving landscape, consider the following trends: doorstep delivery, user-friendly technology, health and wellness, organic ingredients, and additive-consciousness. Frozen fruits, vegetables, lean protein options, plant-based alternatives, and vegetarian/vegan choices cater to various dietary preferences. Convenience is paramount with single-serve meals, microwaveable snacks, and pre-cut frozen produce, addressing busy lifestyles and hectic schedules. Price comparison and time-saving are essential for consumers. Additionally, look for low-sodium content, plant-based meat substitutes, dairy-free ice creams, and vegetable-based frozen meals.

Key Market Companies Overview

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

• Key Offering- Ajinomoto Co. Inc.: The company offers frozen food such as frozen vegetables, noodles, gyoza, and cooked rice dishes.
• Key Offering- Aryzta AG: The company offers frozen food such as bread, roll and bun, patisserie, and savory snacks.
• Key Offering- Conagra Brands Inc.: The company offers frozen food such as voila garlic chicken, voila beef lo mein, lasagna with meat sauce oven bake meal, and chicken taco oven bake meal.

The market analysis and report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

• Dr. August Oetker Nahrungsmittel KG
• General Mills Inc.
• HanoverFoods
• J.R. Simplot Co.
• JBS SA
• Kellogg Co.
• Lantmannen Unibake International
• McCainFoods Ltd.
• Nestle SA
• NomadFoods Ltd.
• PNW Veg Co. LLC dba NORPAC
• SmithFrozenFoods Inc.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Analyst Overview

In the modern world, its convenience has gained significant traction in the market. The Frozen Food industry comprises of various products such as vegetables, fruits, meats, poultry, seafood, and ready-to-eat meals. The global market is expected to show a steady growth due to several factors. One of the primary reasons is the increasing urbanization and hectic lifestyles, leading consumers to opt for time-saving and convenient food options. Additionally, the advancement in technology has enabled the production of high-quality frozen food that retains its nutritional value and taste. Furthermore, the rising awareness about food safety and the availability of a wide range of options catering to diverse dietary preferences have also contributed to the growth of this market. Companies like ConAgra Foods, Nestle, and McCain Foods are some major players in this sector. In summary, the market is a thriving industry that continues to innovate and cater to the evolving needs and preferences of consumers.

The market is experiencing rapid growth driven by various factors, such as the expanding e-commerce landscape and the proliferation of online shopping platforms. As consumers become increasingly focused on sustainability goals, frozen foods offer a solution with their longer shelf life and reduced food waste. With the trend of globalization, consumers have access to a diverse range of products, including international cuisines. Frozen foods provide portability and convenience while maintaining flavor and quality. Additionally, initiatives like farm-to-table and sourcing locally produced ingredients support culinary horizons while ensuring food safety. This market evolution benefits from cost-effective sourcing in developing countries and addresses health consciousness with options like paleo and gluten-free products.

In the market, the sourcing of raw materials and efficient transportation logistics are crucial components. Companies invest in robust distribution facilities to ensure product quality and reduce quality degradation during transit. Addressing food safety risks is paramount, with stringent measures implemented throughout the supply chain. Despite challenges such as the limited availability of certain ingredients, the industry's versatility allows for innovative solutions. Manufacturers continually adapt to market demands, offering a wide range of frozen products that meet diverse consumer preferences and dietary requirements. With ongoing advancements in technology and processes, the global market remains resilient, catering to the evolving needs of consumers worldwide.

Segment Overview

The market growth and trends report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

• Product Type Outlook 
  • Frozen-ready meals
  • Frozen-meat and poultry
  • Frozen-fish and seafood
  • Frozen-fruits and vegetables
  • Others

• Distribution Channel Outlook 
  • Offline
  • Online

• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa
  • South America
    • Chile
    • Argentina
    • Brazil

Market Scope
Report Coverage	Details
Page number	173
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 7.73%
Market growth 2023-2027	USD 132.77 billion
Market structure	USD Fragmented
YoY growth 2022-2023(%)	7.23
Regional analysis	Europe, North America, APAC, South America, and Middle East and Africa
Performing market contribution	North America at 44%
Key countries	US, Japan, China, Germany, and the UK
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	Ajinomoto Co. Inc., Aryzta AG, Conagra Brands Inc., Dr. August Oetker Nahrungsmittel KG, General Mills Inc., Hanover Foods, J.R. Simplot Co., JBS SA, Kellogg Co., Lantmannen Unibake International, McCain Foods Ltd., Nestle SA, Nomad Foods Ltd., PNW Veg Co. LLC dba NORPAC, Smith Frozen Foods Inc., The Kraft Heinz Co., Tyson Foods Inc., Unilever PLC, Vandemoortele NV, and Wawona Frozen Foods Inc.
Market dynamics	Parent market trends and 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 the forecast period.
Customization purview	If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

BUY NOW Full Report and Discover more

What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2023 and 2027
• Precise estimation of the market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Market growth analysis across Europe, North America, APAC, South America, and Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information about companies
• Market forecasting of factors that will challenge the growth of the key market companies

We can help! Our analysts can customize this market research report to meet your requirements. Get in touch