Frozen Food Market size to grow by USD 132.77 billion from 2022 to 2027, Market is fragmented due to the presence of prominent companies like Ajinomoto Co. Inc., Aryzta AG and Conagra Brands Inc., and many more, Technavio

NEW YORK, March 4, 2024 /PRNewswire/ -- The frozen food market is set to grow by USD 132.77 billion from 2022 to 2027 progressing at a CAGR of 7.73% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the expansion of retail stores offering frozen food. The burgeoning frozen food market owes its growth to the expanding retail sector, notably witnessed in Europe. The surge in diverse distribution channels and retail formats, including supermarkets and specialty stores, propels the availability of frozen products. This market boom is fueled by organized retailers offering a spectrum of frozen items like seafood, meats, and produce, indicating a promising trajectory with the upsurge in frozen food retail outlets. View PDF Sample 

Market Segmentation

The market analysis includes Product Type, Distribution Channel, and geography landscape. This study identifies technological innovations, increasing mergers and acquisitions, and the growing popularity of private-label frozen food products as one of the prime reasons driving the market growth during the next few years.

• The frozen ready meals segment will be significant during the forecast period. This segment comprises frozen pizza, frozen pasta, frozen croissants, frozen Asian meals, frozen rice bowls, and frozen noodle bowls, among other products. The convenience and the shorter time needed for the preparation of meals make them a convenient choice for consumers. However, frozen food is often high in sulfur content, and its consumption may lead to an increase in blood pressure. It can also be reheated. View PDF Sample 

Companies Mentioned

• 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
• Wawona Frozen Foods Inc.

Company Offerings

• Ajinomoto Co. Inc. - The company offers frozen vegetables, noodles, gyoza, and cooked rice dishes.
• Aryzta AG - The company offers bread, roll and bun, patisserie, and savory snacks.
• Conagra Brands Inc. - The company offers voila garlic chicken, voila beef lo mein, lasagna with meat sauce oven bake meal, and chicken taco oven bake meal. Technavio's SUBSCRIPTION platform

Analyst Review

In recent years, the market has experienced significant growth driven by changing consumer lifestyles and preferences, globalization, and the rise of e-commerce and online shopping platforms. Consumers are increasingly seeking convenience, longer shelf life, and portability in their food choices while also prioritizing sustainability goals and health and wellness.

These products offer numerous advantages, including extended shelf life, which reduces food waste and contamination risks associated with fresh and natural food products. Additionally, they provide convenience and portability, catering to busy lifestyles and allowing for easy storage and preparation.

However, the perception of it has evolved over time. Once viewed as inferior in quality and nutritional value, these products now offer a diverse range of options, including fresh and natural ingredients, plant-based alternatives, and ethnic and global flavors. Additives are minimized, and nutritional value is preserved through advanced freezing techniques.

With rising disposable incomes, emerging economies, and changing dietary preferences, the demand for it continues to grow, driving innovation in the packaged food and beverage industry. This growth is further supported by international trade and distribution networks, enabling market penetration into remote and underserved areas.

Despite these opportunities, challenges persist, particularly in developing countries where there is a lack of cold chain infrastructure and temperature-controlled storage and transportation facilities. These constraints hinder the distribution and quality of these products, posing food safety risks and limiting market reach.

To address these challenges, businesses are investing in improving distribution facilities, enhancing food safety measures, and expanding market penetration through retail channels, online distribution channels, and contract catering services. Specialized companies are emerging to meet the needs of various sectors, including public authorities, childcare centers, educational institutions, healthcare facilities, and correctional facilities.

In conclusion, the market is poised for continued growth, driven by consumer demand for affordable, nutritious, and convenient food options. With a focus on sustainability, health and wellness, and meeting diverse culinary preferences, the market is evolving to cater to changing consumer needs and preferences worldwide. View PDF Sample 

Related Reports:

The US - frozen pizza market size is projected to increase by USD 2,145.77 million and the market size is estimated to grow at a CAGR of 5.3% between 2022 and 2027.

The frozen breakfast foods market size is estimated to grow at a CAGR of 7.93% between 2022 and 2027. The market size is forecast to increase by USD 2,129.41 million. 

TOC:

1 Executive Summary
2 Landscape
3 Sizing
4 Historic Size
5 Five Forces Analysis
6 Segmentations
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix

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SOURCE Technavio