According to the current analysis of Reports and Data, the global Frozen Food Market was valued at USD 250.0 Billion in 2021 and is expected to reach USD 383.78 Billion by year 2030 , at a CAGR of 5.0%. They are preserved by a process of freezing and storing before cooking. It has a large market due to increased demand from the consumers. The freezing process helps to maintain the food in its original state till it is consumed. In this industry it involves two procedures for freezing, one is mechanical and the other one is cryogenic. The freezing process is required to safeguard the quality and its outer surface. The fast freezing helps to maintain the original cell structure of the food. Cryogenic freezing is one of the fastest process because it maintains the low fluid nitrogen temperature of around -196 degree Celsius.
Market Overview:
The food and beverage industry is involved in transforming raw food materials into consumer food products. The sector includes groceries, oils and fats, food additives, functional foods and beverages, canned food, packaged foods, health and natural foods, baby food, animal food, syrup, baked food, soft drinks, alcoholic and non-alcoholic drinks, energy drinks, and packaging. The companies in this industry are looking for innovations in food that meet the changing consumer’s preferences in terms of global flavors, and varieties. The touchless transactions, open kitchen concept, ghost kitchens and e-commerce trends (especially during Covid 19) are reshaping the food and beverage sector.
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Key Players:
Key participants includes – Nestle, ConAgra Foods Inc., Heinz, Mother Dairy, McCain Foods, Kellogg Company, Unilever, General Mills Inc., Venky’s, and Pinnacle Foods Inc.
Further Key Findings From The Report Suggest:
- Frozen Food industry is expected to have a CAGR of 6% in Asia Pacific followed by Europe and North America respectively. The factors such as changing lifestyles and increasing population of society are driving the growth of industry.
- As of 2018, raw stage dominated the industry which holds 41.4% of the global market. Europe is the chief revenue generating source for this product segment, followed by Asia-Pacific and North America.
- Dairy Products is expected to be the fastest growing market segment during forecast period 2019-2026 with a CAGR of 3.5%. However, the sugar and fats content which are not healthy and difficulties faced in removing such content is one of the major challenge for the industry in this segment.
- The packaging must maintain its integrity throughout filling, sealing, freezing, storage, transportation, thawing, and often cooking. As many them are cooked in a microwave oven, manufacturers have developed packaging that can go straight from freezer to the microwave.
- Active packaging offers a host of new technologies that can actively sense and then neutralize the presence of bacteria or other harmful species. Active packaging can extend shelf-life, maintain product safety, and help preserve over a longer period of time.
- Others product type segment (that includes frozen potatoes, pizzas, snacks, ready to eat meals) was valued at USD 27.4 billion and is expected reach USD 39.05 billion by 2026
- North America is expected to account for the 28.4% of the industry. The rise in the health sector and the rise in the packaging sector especially in F&B segment is driving the growth in the US.
- The sodium content and starch content are found to be in more proportion which might have side effects that may hinder the market during the forecast period.
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Market Segmentation:
For the purpose of this report, Reports and Data has segmented the Frozen Food industry on the basis of processed product type, Product Type, Distribution Channel, End-Use
Processed Product Type (Revenue, USD Billion; 2019–2030)
- Frozen Fruits & Vegetables
- Frozen Meat & Fish
- Frozen Dairy Products
- Frozen Soups
- Others
Product Type (Revenue, USD Billion; 2019–2030)
- Raw Stage
- Half-Prepared
- Fully-Prepared
Distribution Channel (Revenue, USD Billion; 2019–2030)
- Supermarket/Hypermarket
- Online Stores
- Specialist Retailers
- Convenience Stores
End Use (Revenue, USD Billion; 2019–2030)
- Retail Customers
- Service Providers
- Others
Regional Outlook (Revenue in USD Billion; 2019–2030)
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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