Frozen Food Market size to record USD 132.77 bn growth from 2023-2027, Technological innovations is one of the key market trends, Technavio

NEW YORK, April 5, 2024 /PRNewswire/ -- The global frozen food market size is estimated to grow by USD 132.77 bn from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 7.73% during the forecast period. The frozen food market is experiencing growth due to edge computing in healthcare's IoT applications. By analyzing data at the network's edge, food distribution and e-commerce platforms enhance speed and efficiency. Key trends include sustainability, globalization, convenience, and longer shelf life. Frozen fruits, vegetables, seafood, meats, and organic options cater to diverse dietary preferences and health consciousness. Online channels, doorstep delivery, and price comparison technologies offer user-friendly experiences.

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Innovation Sparks Market Growth:

In the frozen food market, sustainability goals and convenience drive innovation. Traditional distribution networks face challenges such as food waste, limited availability, and quality degradation during transportation. E-commerce and online shopping platforms offer solutions, enabling cost-effective sourcing of international cuisines and locally sourced produce. Edge computing technology in supply chains expedites data analysis, ensuring food safety and reducing waste. Frozen fruits, vegetables, seafood, and meats offer longer shelf life, catering to diverse dietary preferences like vegan, paleo, and gluten-free. Marketing strategies focus on health consciousness, offering organic options and doorstep delivery. Technology and user-friendly online channels facilitate price comparison and variety, expanding culinary horizons. Despite globalization, developing countries leverage innovation in transportation and distribution facilities to access raw materials and maintain food safety risks. Overall, the frozen food market continues to evolve, prioritizing convenience, portability, and versatility while addressing the needs of health-conscious consumers.

Addressing Challenges:

In the frozen food market, dietary preferences such as vegan, paleo, and gluten-free are driving demand for convenience and variety. Health consciousness is at an all-time high, leading consumers to explore online channels and brick-and-mortar stores for organic options. Doorstep delivery, price comparison, and user-friendly technology are essential for meeting the needs of health-conscious consumers. The market offers a wide range of organic ingredients, additive-free, and low-sodium content options. Frozen fruits, vegetables, lean protein options, and plant-based alternatives cater to veganism, vegetarianism, and flexitarian diets. Dairy-free ice creams and vegetable-based frozen meals provide time-saving solutions for busy lifestyles and hectic schedules. Single-serve frozen meals and microwaveable snacks, including pre-cut frozen produce, further enhance convenience.

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Analyst Review

In the e-commerce sector, the frozen food market has gained significant traction due to its alignment with sustainability goals and globalization. Online shopping platforms offer the convenience and portability of having longer shelf life foods delivered right to consumers' doors. Distribution networks and marketing strategies have expanded, allowing for cost-effective sourcing of raw materials from developing countries. Innovation in the industry includes farm-to-table and locally sourced produce, broadening culinary horizons. However, challenges such as quality degradation and food safety risks must be addressed. Consumers seek versatility in their frozen food options, including fruits, vegetables, seafood, meats, and catering to various dietary preferences like vegan, paleo, and gluten-free. Health consciousness continues to drive demand for nutritional value and flavorful choices.

Market Overview

In today's fast-paced world, the frozen food market has become a convenient solution for consumers seeking affordable, time-saving meal options. With a diverse range of products available, from vegetables and fruits to meats and ready-to-eat meals, this sector caters to various dietary needs and preferences. Companies employ advanced freezing technologies to preserve nutrients and maintain food quality, ensuring consumers receive fresh and delicious items. The convenience factor, coupled with the affordability and versatility of frozen foods, has led to their increasing popularity. Additionally, the market's continuous growth is driven by factors such as urbanization, changing consumer demographics, and the rise of food delivery services. Overall, the frozen food market plays a significant role in modern-day food consumption, offering a practical and convenient alternative to traditional food options.

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Key Companies:

Frozen Food Market is fragmented ; the companies are competing with competitors and are trying to get greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major companies have well-established economies of scale and market presence and generally rely on positioning technological advances, and the price of the products. Frozen Food Market report includes information on the product launches, sustainability, and prospects of leading vendors including 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.

Key Topics Covered:

 1 Executive Summary
 2 Market Landscape
 3 Market Sizing
 4 Historic Market Size
 5 Five Forces Analysis
 6 Market Segmentation
 7 Customer Landscape
 8 Geographic Landscape

• Product Type
• Frozen Ready Meals
• Frozen Meat And Poultry
• Frozen Fish And Seafood
• Frozen Fruits And Vegetables
• Others
• Distribution Channel
• Offline
• Online
• Geography
• Europe
• North America
• APAC
• South America
• Middle East And Africa

  9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio