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The Europe - Frozen Food Market size is projected to increase by USD 31.2 billion and the market size is estimated to grow at a CAGR of 6.8% between 2023 and 2028.
The report includes a comprehensive outlook on the Europe Frozen Food Market, offering forecasts for the industry segmented by Distribution Channel, which comprises offline and online. Additionally, it categorizes Product into frozen ready meals, frozen fish and seafood, frozen meat and poultry, frozen fruits and vegetables, and others. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
The introduction of innovative and sustainable packaging by leading players is the key factor driving the market growth. Packaging innovations, apart from attracting consumers, help increase the shelf life and durability of products. Innovative pouch packaging is one such method used by market players to avoid the loss of nutrients in frozen snacks. Globally, packaging solution providers have started focusing on launching environmentally sustainable packaging solutions such as recyclable frozen food packaging, biodegradable frozen snacks packaging, and eco-friendly frozen packaging. Europe - frozen snack food market players are delivering advanced packaging solutions that are environmentally sustainable. As a result, a greater number of vendors have started offering sustainable packaging for their frozen snacks in the market. This is considered to be a major factor driving the growth of the market during the forecast period.
The Europe Frozen Food Market shows an Accelerated CAGR during the forecast period.
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The rising importance of clean-label ingredients is the primary trend shaping market growth. Clean-label ingredients are those that are minimally processed and do not contain any artificial additives or preservatives. Consumers are becoming increasingly aware of the impact that their food choices have on their health and are seeking out products that are made with natural, wholesome ingredients. Furthermore, to meet the demand for clean-label frozen food, many manufacturers are reformulating their products to include natural ingredients and removing artificial additives.
In addition, some manufacturers are also using alternative protein sources, such as tofu or plant-based meats, to appeal to consumers who are looking for meat-free options. Overall, the trend toward clean-label frozen food in Europe is expected to continue to grow as consumers become more health-conscious and environmentally aware. Hence, the rising importance of clean-label ingredients boosts the growth of the market during the forecast period.
Health risks associated with the consumption of frozen ready meals is the major challenge impeding the market growth. Processed foods that have been frozen are kept at a low temperature to extend their shelf life and prevent spoiling. Cheaper ingredients are frequently used in place of healthy ones by manufacturers of frozen foods. For instance, nutrition-dense olive oil is often substituted with less effective rapeseed oil, which results in the loss of antioxidants present in frozen foods.
Moreover, consuming frozen-ready meals frequently leads to obesity, diabetes, dementia, and renal disease. The frequent consumption of frozen food also puts consumers at risk of developing high blood pressure and other health-related problems. Thus, increased consumer awareness regarding frozen food will hamper the growth of the Europe frozen food market during the forecast period.
Frozen ready meals are complete meals that do not require additional ingredients. The frozen ready meals segment comprises frozen pizza, frozen pasta, frozen croissants, frozen Asian meals, frozen rice bowls, frozen noodle bowls, frozen crispy pancakes, and frozen pies, among other products. Furthermore, prominent market players offering frozen-ready meals globally include Nomad Foods, Tyson Foods, and others. Frozen ready meals are increasingly popular in countries such as the UK, France, and Spain. Packaging innovations and increasing new product launches are anticipated to drive the growth of the frozen ready-meal segment of the Europe - frozen food market during the forecast period.
The market share growth by the offline segment will be significant during the forecast period. In Europe, there has been a premiumization of the frozen food market, with consumers willing to pay more for premium, all-natural, and organic frozen food products. In response, offline stores in Europe such as supermarkets and hypermarkets have increased the selection of premium frozen food items they offer, such as premium ready meals, organic frozen fruits and vegetables, and premium meat and seafood.
The offline segment was valued at USD 30.11 billion in 2018.
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Supermarkets and hypermarkets are the main sales outlets for frozen food products in Europe, where the offline distribution channel continues to be the dominant sales channel. These shops serve as a convenient one-stop shop for customers to buy all of their grocery requirements and offer a wide variety of frozen food products, including fruits, vegetables, ready meals, meat, and seafood. These elements are anticipated to boost offline market demand even more and propel market growth during the forecast period.
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.
The Europe frozen food market report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
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.
The Europe frozen food market report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Europe Frozen Food Market Scope |
|
Report Coverage |
Details |
Page number |
160 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.8% |
Market Growth 2024-2028 |
USD 31.2 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.41 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Ajinomoto Co. Inc., Aryzta AG, BRF SA, Cargill Inc., Dr. August Oetker KG, General Mills Inc., Iceland Foods Ltd., JBS SA, Lantmannen Unibake International, McCain Foods Ltd., Nestle SA, Nomad Foods Ltd., Orkla ASA, The Kraft Heinz Co., Tyson Foods Inc., CONGELADOS CIENTOCINCO, S.L., FRoSTA AG, Iceland Frozen Foods, THIS.CO, and ULTRACONGELADOS VIRTO, SAU |
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 the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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