Frozen Food Market, By Type (Raw Material and Half Cooked), By Product Type (Frozen Ready Meals, Frozen Seafood & Meat Products, Frozen Snacks & Bakery Products and Others), By Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Convenience Stores and Online Retail), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030

The global frozen food market size accounted for US$ 244.30 billion in 2020 and is estimated to be US$ 407.87 billion by 2030 and is anticipated to register a CAGR of 5.3%.

The frozen food market comprises retail as well as business customers. Retail customers of frozen food are individuals and households, whereas business customers include hotel chains, fast-food outlets, caterers, and other business buyers. Retail customers mostly prefer cooked and semi-cooked, ready-to-eat food, meat, and soup among the class of available products in the market. Business customers majorly use frozen meat, seafood, frozen pizza crust, bread, frozen dough, potatoes, and vegetables as the key ingredients for preparing food for end customers.

Through the formation of ice crystals out of water and hence slowing down the growth of bacteria, frozen food remains fresh and extends its shelf life. It renders whole-year-round access to seasonal vegetables, convenience, and a decrease in food wastage. Clarence Birdseye invented quick-freezing techniques in the early 1900s, and it transformed the industry altogether. Compared with fresh produce, frozen fruits and vegetables store more vitamins, although, on the other hand, there are added sugars, sodium, or preservatives. Indeed, it is highly critical to freeze well and show caution during the thawing process from a quality and safety point of view.

Growing Demand and Consumption of Frozen Foods

The growth of the global frozen food market is primarily driven by the growing demand and consumption of frozen foods in the developed and developing markets. An increase in disposable incomes coupled with the change in lifestyle and food habits are the major factors that boosts the targeted market globally. Moreover, a rapid increase in the number of large retail chains including hypermarkets and supermarkets has bolstered the demand for frozen food worldwide, which in turn is expected to propel the growth of the target market over the forecast period. However, the lack of refrigeration facilities in retail stores and inadequate distribution facilities in semi-urban and rural areas are the major challenges for the target market growth in developing countries. The developed markets are expected to continue their growth at a moderate pace, which is majorly driven by the mounting consumer preference for healthy frozen foods. Nevertheless, snacking is one of the most prominent trends that is being observed among consumers. Local consumers like “on-the-go” snacking and the quality aspects of frozen foods are making the category popular among consumers.

The global frozen food market is a fast-growing sector business whose GDP runs into hundreds of billions. Product categories involved in a frozen food market include frozen meat and seafood, frozen fruits and vegetables, frozen ready meals, and frozen baked goods. Examples of distribution channels are Supermarkets, Convenience Stores, Specialized Shops, and Internet Retailers. Some examples of major players are multinational firms: Unilever, Nestle, General Mills, and Tyson Foods. Furthermore, it is predicted that factors like raising awareness about the reduction of food wastage, urbanization, increasing busy life, rising disposable income, and improvement in technology will act as growth drivers. Some emerging trends include plant-based frozen foods, nutritious frozen meals, premiumization, and convenience innovation.

The global Frozen Food Market is segmented based on type, product type, distribution channel, and region.

Type Insights

On the basis of Type, the global Frozen Food Market is segmented into raw material and half cooked.

Product Type Insights

On the basis of Product Type, the target market is segmented into frozen ready meals, frozen seafood & meat products, frozen snacks & bakery products and others. In the frozen food market, the segment of frozen ready meals generated more total sales in 2020. Due to the widespread consumption of ready meals by working-class people worldwide, the category is anticipated to maintain its leadership over the projection period. Additionally, new product introductions by Conagra and Nestle, including on-the-go snack alternatives, are projected to keep the frozen meat market among the largest. Furthermore, over the next few years, the segment's momentum is anticipated to be maintained by the simple availability of such products in brick and mortar retailers on a global scale.

Distribution Channel Insights

Based on End-User, the target market is segmented into supermarkets/hypermarkets, specialty stores, convenience stores and online retail.

Regional Insights:

The global Frozen Food market accounted for US$ 244.30 billion in 2020 and is estimated to be US$ 407.87 billion by 2030 and is anticipated to register a CAGR of 5.3%. On region the global Frozen Food market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Europe is expected to account for significant revenue share for the global frozen food market due to an improvement in living standards and an increasing need for convenience. The Middle East and Africa are also experiencing higher growth due to increasing disposable incomes and strong distribution channels for the availability of the frozen food product that has boosted the demand for the global market.

Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the global Frozen Food  market report based on type, product type, distribution channel, and region.

Global Frozen Food Market, By Region:

• • • North America
      • • U.S.
        • Canada
    • Europe
      • • Germany
        • UK
        • France
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • • China
        • India
        • Japan
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • • GCC
        • Israel
        • South Africa
        • Rest of Middle East & Africa

The leading players operating in the Global Frozen Food Market includes

Wawona Frozen Foods focuses on the production and storage of fresh fruit.

Bellisio Foods is a diverse American maker of frozen foods with headquarters in Minneapolis, Minnesota.

McCain Foods is a worldwide Canadian frozen food company founded in Canada's Florenceville, New Brunswick, in 1957.

ConAgra Foods, Inc. is a holding corporation for American consumer packaged goods with its main office in Chicago, Illinois. Conagra manufactures and promotes goods under a number of brand names that can be found in supermarkets, eateries, and other food service locations.

General Mills, Inc. is a global American company that produces and markets branded consumer meals for sale in retail establishments.

Nestle S.A. is a multinational Swiss firm with its headquarters in Vevey, Vaud, Switzerland that processes food and beverages.

Ajinomoto is a Japanese multinational food and biotechnology company that creates spices, cooking oils, frozen meals, drinks, sweeteners, amino acids, pharmaceuticals, and interlayer insulating materials for semiconductor packages used in personal computers.

Kellogg Company is a global American food manufacturing firm with its headquarters in Battle Creek, Michigan.

Chevon Agrotech Pvt Ltd manufacture goods for frozen food.