The U.S. Frozen Food Market 2020 Analysis by Manufacturers – Conagra Brands, Inc. (EVOL), Hain Celestial Group, Inc., Nestle (Sweet Earth), Tyson Foods, Inc. and others.

THE U.S. FROZEN FOOD MARKET: SIZE, TRENDS AND FORECASTS (2020-2024)

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COMPANIES COVERED (SALES, PRICE, REVENUE, VOLUME, GROSS MARGIN AND MARKET SHARE)-
Conagra Brands, Inc. (EVOL), Hain Celestial Group, Inc., Nestle (Sweet Earth), Tyson Foods, Inc. and others.

INDUSTRY NEWS:

July 10, 2020: Conagra Brands: Frozen Foods and Staples Lead the Way

The Covid-19 pandemic has adversely impacted the food-service industry, and the corresponding benefit with respect to consumer demand has been enjoyed by packaged food companies. Frozen and canned foods, in particular, have seen a sharp spike in demand owing to the higher shelf life and the convenience associated with eating at home. Conagra Brands, Inc. (NYSE:CAG) is one of the large players within this space to have benefitted from the situation and delivered an excellent result. The company continues to have a strong upside, in my opinion, with an expected surge across the frozen foods and staples segments and solid cash flows that are being used by the management to reduce the capital gearing.

Conagra Brands reported an excellent result for its fourth quarter of fiscal 2020. The company reported revenue of $3.29 billion, an increase of 25.8% as compared to the corresponding quarter of the previous year. The company managed to beat the analyst consensus estimate of $3.15 billion by a significant margin. This was largely driven by an increase of organic net sales by 21.5%, with double-digit growth in all three retail segments. Conagra Brands saw its diluted earnings per share (EPS) from continuing operations for the fourth quarter grow by 57.7% to $0.41 whereas its adjusted EPS more than doubled to $0.75, beating the analyst consensus estimate of $0.66. One of the biggest drivers of the strong results was excellent e-commerce growth. As a result, the company's top line for the entire fiscal year grew by 15.9% and its adjusted EPS grew by 13.4% to $2.28 per share. The management was also able to generate a significant amount of free cash in the year to deleverage the company and remain committed to achieving its leverage target ratio of 3.5 to 3.6 by the end of fiscal 2021.

03.19.2020: Hain Celestial divests two more brands
LAKE SUCCESS, NY. — The Hain Celestial Group, Inc. has completed the divestitures of two more brands, continuing in its plan to strategically shed non-core businesses and become a smaller, more profitable company.

US Durum Products Ltd., Lancaster, Pa., a couscous manufacturer, has acquired the Casbah brand of Mediterranean-style mixes and side dishes from the Hain Celestial Group. Nature’s Touch Frozen Foods, Montreal, a processor of frozen fruits, has acquired the Europe’s Best brand of frozen fruits and vegetables. Financial terms of the transactions were not disclosed.

The two transactions are the latest in a string of strategic divestitures by Hain Celestial since Mr. Schiller joined the company over a year ago. In 2019, the company divested seven businesses with almost $750 million in sales, including Hain Pure Protein businesses consisting of Plainville, Empire Kosher and FreeBird brands, WestSoy, Tilda, Sunspire and Arrowhead Mills.

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EXECUTIVE SUMMARY:

Frozen food is one of the latest developments in the overall food industry globally. Convenient packaging and longer shelf life are the major characteristics of frozen food which made it popular among other forms of food. Frozen food items are not only convenient to consume, but also are more nutritious as compared to ready-to-eat food items. Frozen foods contain crystalline ice within freeze-concentrated solids.

The U.S. frozen food market is majorly categorized into meals, meats, desserts, produce, snacks, and baked goods. An extensive range of frozen foods are available within each category. Frozen meals, meats, and desserts are the best-selling frozen foods in the U.S. market.

The U.S. frozen food market almost remained stagnant over the past five years, but projections are made that the market would gain momentum over the forecasted period i.e. 2019 to 2023. Increasing urbanization and rising disposable income were the major factors that bolster the growth of frozen food market in the U.S. The market is expected to grow on the back of rising consumption of healthy frozen snacks, convenient packaging formats, rising use of plant-based proteins, growing demand for organic and natural products etc. However, the market is currently facing some challenges which include increasing awareness about fresh foods, lack of innovation, and aisles confusion.

WHAT ARE THE MARKET FACTORS THAT ARE EXPLAINED IN THE REPORT?

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-Analytical Tools: The The U.S. Frozen Food Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

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