The Frozen and Convenience Food Market to grow by USD 377.55 billion from 2023 to 2027|Growing consumer inclination toward vegan frozen foods to boost market growth - Technavio

NEW YORK, Aug. 1, 2023 /PRNewswire/ -- The frozen and convenience food market is projected to increase by USD 377.55 billion and the market size is estimated to grow at a CAGR of 7.1% between 2022 and 2027, according to Technavio. Discover some insights on market size historic period (2017 to 2021) and Forecast (2023 to 2027) before buying the full report -Request a sample report

Frozen and convenience food market – Vendor Analysis
Vendor Landscape - The frozen and convenience food market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer frozen and convenience food in the market are Ajinomoto Co. Inc., Amys Kitchen Inc., Associated British Foods Plc, Bakkavor Group PLC, Cargill Inc., Conagra Brands Inc., Corporativo Bimbo SA de CV, EUROPASTRY SA, General Mills Inc., JBS SA, Kellogg Co., Lantmannen ekonomisk forening, McCain Foods Ltd., MTR Foods Pvt. Ltd., Nestle SA, Omar International Pvt. Ltd, The Kraft Heinz Co., Tyson Foods Inc., Unilever PLC, and Vandemoortele NV, and others.

What's New? -

• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - Buy the report!

Vendor Offerings -

• Amys Kitchen Inc. - The company offers frozen and convenience foods such as 3 Cheese and Kale bake, Organic Lentil vegetable soup, and Spinach pizza.
• Bakkavor Group PLC - The company offers frozen and convenience foods such as Bakkavor Bread, Bakkavor Salads, and Bakkavor Meals Wigan.
• General Mills Inc - The company offers frozen and convenience foods such as Gardettos snack mix original, Chex mix, and Bugles snack original.
• For details on the vendor and its offerings – Request a sample report

Frozen and Convenience Food Market - Segmentation Assessment

Segment Overview
Technavio has segmented the market based on distribution channel (offline and online), and type (convenience food and frozen food)

• The convenience food segment is to witness significant growth during the forecast period. Consumer preference for instant food is increasing. In addition, this segment is primarily targeted at consumers who work long hours without cooking skills. As a result, consumers no longer need to purchase canned ingredients separately, making it easier to prepare ready-to-eat meals. Additionally, the growing number of grocery stores has increased the availability of packaged foods to consumers. Hence, the growing preference among consumers is expected to drive segment growth during the forecast period.

Geography Overview
By geography, the global frozen and convenience food market is segmented into Europe, North America, APAC, South America, and the Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global frozen and convenience food market.

• North America is estimated to contribute 45% to the growth of the global market during the forecast period. Another region that offers significant growth opportunities for providers is Europe. The UK, Germany, and Spain are the key contributors to the frozen food markets in Europe. Increasing mergers and acquisitions between companies, innovative marketing campaigns by suppliers, and premium frozen food offerings are the key factors that contributed significantly to the growth of the convenience frozen food market in the region. 

For insights on global, regional, and country-level parameters with growth opportunities from 2017 to 2027 - Download a Sample Report

Frozen and Convenience Food Market – Market Dynamics

Key Drivers

The growing consumer inclination toward vegan frozen foods is a key factor driving market growth. This is due to the growing preference for vegan foods among consumers. Demand for vegan food has increased significantly in so many countries, especially in the UK and the US. This demand is further fueled by growing consumer demand for red-meat alternatives in these countries. As such, several vendors in the market are launching new vegan frozen products to cater to consumer preferences. Hence, this increasing consumer shift is expected to drive market growth during the forecast period.

Major Trends

The increasing need for convenience is a major trend in the market. A key factor in this trend is reduced preparation, cooking, and cleaning times. Another factor is consumers' increasingly hectic lifestyles and growing preference for ready-to-eat meals. In addition, advances in refrigeration technology, an increase in single-person and small households, and an increase in the number of working women are also expected to drive market growth during the forecast period.

Significant Challenges

Health risks associated with the consumption of frozen foods are a significant challenge restricting market growth. To prevent spoilage and extend the shelf life of frozen foods they are needed to be stored at very low temperatures. Some frozen food manufacturers often look for cheaper alternatives to healthier ingredients. In addition, daily consumption of frozen food can lead to various health problems such as kidney disease, diabetes, dementia, and obesity. Additionally, consuming frozen foods daily can increase your risk of high blood pressure and other health problems. Hence, the increasing health risks are expected to restrict market growth during the forecast period.

Drivers, Trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this Frozen and Convenience Food Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the frozen and convenience food market between 2023 and 2027
• Precise estimation of the size of the frozen and convenience food market and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the frozen and convenience food market across Europe, North America, APAC, South America, and the Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of frozen and convenience food market vendors

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Table of Contents

1 Executive Summary

• 1.1 Market Overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global frozen and convenience food market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on global frozen and convenience food market 2017 - 2021 ($ billion)

• 4.2 Type Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Type Segment 2017 - 2021 ($ billion)

• 4.3 Distribution channel Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Distribution channel Segment 2017 - 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Distribution Channel

• 6.1 Market segments
• Exhibit 30: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 6.2 Comparison by Distribution Channel 
• Exhibit 32: Chart on Comparison by Distribution Channel
• Exhibit 33: Data Table on Comparison by Distribution Channel

• 6.3 Offline - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Offline - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on Offline - Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on Offline - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Offline - Year-over-year growth 2022-2027 (%)

• 6.4 Online - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Online - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on Online - Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Distribution Channel 
• Exhibit 42: Market opportunity by Distribution Channel ($ billion)
• Exhibit 43: Data Table on Market opportunity by Distribution Channel ($ billion)

7 Market Segmentation by Type

• 7.1 Market segments
• Exhibit 44: Chart on Type - Market share 2022-2027 (%)
• Exhibit 45: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type
• Exhibit 46: Chart on Comparison by Type
• Exhibit 47: Data Table on Comparison by Type

• 7.3 Convenience food - Market size and forecast 2022-2027 
• Exhibit 48: Chart on Convenience food - Market size and forecast 2022-2027 ($ billion)
• Exhibit 49: Data Table on Convenience food - Market size and forecast 2022-2027 ($ billion)
• Exhibit 50: Chart on Convenience food - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Convenience food - Year-over-year growth 2022-2027 (%)

• 7.4 Frozen food - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Frozen food - Market size and forecast 2022-2027 ($ billion)
• Exhibit 53: Data Table on Frozen food - Market size and forecast 2022-2027 ($ billion)
• Exhibit 54: Chart on Frozen food - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Frozen food - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Type 
• Exhibit 56: Market opportunity by Type ($ billion)
• Exhibit 57: Data Table on Market opportunity by Type ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 59: Chart on Market share by geography 2022-2027 (%)
• Exhibit 60: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 61: Chart on Geographic comparison
• Exhibit 62: Data Table on Geographic comparison

• 9.3 Europe - Market size and forecast 2022-2027 
• Exhibit 63: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 64: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 65: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027 
• Exhibit 67: Chart on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 68: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 69: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027 
• Exhibit 71: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 72: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 73: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 75: Chart on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 76: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 77: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 79: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 80: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 81: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 83: Chart on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 84: Data Table on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 85: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 Germany - Market size and forecast 2022-2027 
• Exhibit 87: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 88: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 89: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.10 UK - Market size and forecast 2022-2027 
• Exhibit 91: Chart on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 92: Data Table on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 93: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.11 Japan - Market size and forecast 2022-2027 
• Exhibit 95: Chart on Japan - Market size and forecast 2022-2027 ($ billion)
• Exhibit 96: Data Table on Japan - Market size and forecast 2022-2027 ($ billion)
• Exhibit 97: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.12 China - Market size and forecast 2022-2027 
• Exhibit 99: Chart on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 100: Data Table on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 101: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 103: Market opportunity by geography ($ billion)
• Exhibit 104: Data Tables on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 105: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 106: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 107: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 108: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 109: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 110: Matrix on vendor position and classification

• 12.3 Ajinomoto Co. Inc.
• Exhibit 111: Ajinomoto Co. Inc. - Overview
• Exhibit 112: Ajinomoto Co. Inc. - Business segments
• Exhibit 113: Ajinomoto Co. Inc. - Key news
• Exhibit 114: Ajinomoto Co. Inc. - Key offerings
• Exhibit 115: Ajinomoto Co. Inc. - Segment focus

• 12.4 Amys Kitchen Inc.
• Exhibit 116: Amys Kitchen Inc. - Overview
• Exhibit 117: Amys Kitchen Inc. - Product / Service
• Exhibit 118: Amys Kitchen Inc. - Key offerings

• 12.5 Associated British Foods Plc 
• Exhibit 119: Associated British Foods Plc - Overview
• Exhibit 120: Associated British Foods Plc - Business segments
• Exhibit 121: Associated British Foods Plc - Key offerings
• Exhibit 122: Associated British Foods Plc - Segment focus

• 12.6 Bakkavor Group PLC
• Exhibit 123: Bakkavor Group PLC - Overview
• Exhibit 124: Bakkavor Group PLC - Product / Service
• Exhibit 125: Bakkavor Group PLC - Key offerings

• 12.7 Cargill Inc.
• Exhibit 126: Cargill Inc. - Overview
• Exhibit 127: Cargill Inc. - Product / Service
• Exhibit 128: Cargill Inc. - Key news
• Exhibit 129: Cargill Inc. - Key offerings

• 12.8 Conagra Brands Inc.
• Exhibit 130: Conagra Brands Inc. - Overview
• Exhibit 131: Conagra Brands Inc. - Business segments
• Exhibit 132: Conagra Brands Inc. - Key offerings
• Exhibit 133: Conagra Brands Inc. - Segment focus

• 12.9 General Mills Inc.
• Exhibit 134: General Mills Inc. - Overview
• Exhibit 135: General Mills Inc. - Business segments
• Exhibit 136: General Mills Inc. - Key news
• Exhibit 137: General Mills Inc. - Key offerings
• Exhibit 138: General Mills Inc. - Segment focus

• 12.10 Kellogg Co.
• Exhibit 139: Kellogg Co. - Overview
• Exhibit 140: Kellogg Co. - Business segments
• Exhibit 141: Kellogg Co. - Key news
• Exhibit 142: Kellogg Co. - Key offerings
• Exhibit 143: Kellogg Co. - Segment focus

• 12.11 McCain Foods Ltd.
• Exhibit 144: McCain Foods Ltd. - Overview
• Exhibit 145: McCain Foods Ltd. - Product / Service
• Exhibit 146: McCain Foods Ltd. - Key offerings

• 12.12 MTR Foods Pvt. Ltd.
• Exhibit 147: MTR Foods Pvt. Ltd. - Overview
• Exhibit 148: MTR Foods Pvt. Ltd. - Product / Service
• Exhibit 149: MTR Foods Pvt. Ltd. - Key offerings

• 12.13 Nestle SA
• Exhibit 150: Nestle SA - Overview
• Exhibit 151: Nestle SA - Business segments
• Exhibit 152: Nestle SA - Key news
• Exhibit 153: Nestle SA - Key offerings
• Exhibit 154: Nestle SA - Segment focus

• 12.14 The Kraft Heinz Co.
• Exhibit 155: The Kraft Heinz Co. - Overview
• Exhibit 156: The Kraft Heinz Co. - Business segments
• Exhibit 157: The Kraft Heinz Co. - Key offerings
• Exhibit 158: The Kraft Heinz Co. - Segment focus

• 12.15 Tyson Foods Inc.
• Exhibit 159: Tyson Foods Inc. - Overview
• Exhibit 160: Tyson Foods Inc. - Business segments
• Exhibit 161: Tyson Foods Inc. - Key offerings
• Exhibit 162: Tyson Foods Inc. - Segment focus

• 12.16 Unilever PLC
• Exhibit 163: Unilever PLC - Overview
• Exhibit 164: Unilever PLC - Business segments
• Exhibit 165: Unilever PLC - Key news
• Exhibit 166: Unilever PLC - Key offerings
• Exhibit 167: Unilever PLC - Segment focus

• 12.17 Vandemoortele NV
• Exhibit 168: Vandemoortele NV - Overview
• Exhibit 169: Vandemoortele NV - Product / Service
• Exhibit 170: Vandemoortele NV - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 171: Inclusions checklist
• Exhibit 172: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 173: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 174: Research methodology
• Exhibit 175: Validation techniques employed for market sizing
• Exhibit 176: Information sources

• 13.5 List of abbreviations
• Exhibit 177: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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 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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