Frozen Food Market (2020 to 2026) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast | Product Type (Frozen Meat Products, Frozen Fish/Seafood, Frozen Ready Meals, Frozen Bakery Products, Frozen Pizza, Frozen Potato Products, Others)

The Global Frozen Food market is anticipated to reach the market valuation of US$ 320.06 billion by 2026 growing with a CAGR of 4.6% during the forecasted period (2020-2026) from US$ 232.42 billion in 2019. In reality, families that include frozen foods in their daily routine can have a better quality of diet. There are plenty of chances to find anything you want with so many options in the frozen foods aisle. At peak ripeness, fruits and vegetables are selected and sometimes frozen within hours, locking in nutrients and flavor. Frozen foods usually maintain their vitamins and minerals, so there is no change in the composition of carbohydrates, proteins, or fats. In some cases, frozen foods have more vitamins and minerals than fresh foods, as fresh foods lose vitamins and minerals over time while freezing preserves nutrients.

Frozen foods can be a quick and economical way to eat balanced foods from all food groups including whole grains, fruits, vegetables, proteins, meat, seafood, and dairy products. Frozen foods may be a bonus to individuals with minimal kitchen space or utensils, in addition to a time-saving convenience. Frozen foods can not only be more economical in size, but they can also help to reduce food wastage. Owing to such benefits, frozen foods are gaining an ever more significant position in people’s diets. Annual consumption per capita has risen from 6 to almost 30 lb. Modern manufacturing practices and studies have steadily increased their efficiency since the Second World War. While frozen foods are not necessarily free of potentially harmful micro-organisms, their safety record compares favorably with that of other products which have been successfully preserved. Currently, vigorous action is undertaken to correct improper handling procedures which lead to loss of quality.

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Based on the product category, the frozen food market is classified into ready to eat, ready to cook and ready to drink. In 2019, ready to eat segment dominated the market with almost 43% and is expected to remain dominant throughout the analyzed period. However, ready to cook segment is expected to witness the highest CAGR growth during the same period. The popularity of ready to eat meals has observed a rapid growth credited to convenience and ease offered coupled with increasing working population, increasing disposable income, and changing lifestyles.

The report also segmented on product type which includes frozen meat products, frozen fish/seafood, frozen ready meals, frozen bakery products, frozen pizza, frozen potato products and others. In 2019, frozen ready meals accounted for nearly 25% of the frozen food market followed by Frozen Fish/Seafood. Today, consumers have comparatively less time to cook at home because of the hectic working style which has driven demand for frozen products such as frozen potatoes, ready-made meals, meat and fish.

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Further, the report also bifurcated based on distribution channels namely supermarket/hypermarkets, Independent Retailers, Convenience Store and other channels such as specialist retailers and online modes. In 2019, the frozen food market is dominated by supermarket/hypermarkets with more than 50% of the market. However, due to the increasing internet penetration and online shopping feasibility and convenience as compared to offline shopping services, it is anticipated that other modes of distribution channel grow significantly over the forecast period.

Also, for better investigation and penetration of frozen foods market on the regional/country-level, the report provides a detailed analysis for Americas (US, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea and Rest of Asia-Pacific) and Rest of the world. Among the different regions studied in the report, Europe emerged as the dominant market followed by the Americas. In 2019, Europe accounted for 38.5% market share while Asia-Pacific is expected to generate revenue of US$ 81.74 billion by 2026. The Frozen food industry is also seeing increased demand for more quality, more sustainable and safer goods. Hence, several new players have also started operating in the segment making the market highly fragmented and competitive. However, established players compete on various factors including product types, consistency, taste, flavors, price, functionality, scale, packaging and marketing activities to achieve a competitive advantage in the marketplace. The report also comprises key players' market share in this segment along with their detailed company profile. Some of them include Nestle SA, Goya Foods, Ajinomoto, Heinz Company, ConAgra Foods, General Mills, Unilever PLC, Maple Leaf Foods, Tyson Foods, Nomad Foods, Mc Can Foods Ltd and Dr. Oetker.

Global Frozen Food Market Segmentation

Market Insight, by Product Category
Ready to Eat
Ready to Drink
Ready to Cook

Market Insights, by Product Type
Frozen Meat Products
Frozen Fish/Seafood
Frozen Ready Meals
Frozen Bakery Products
Frozen Pizza
Frozen Potato Products
Others

Market Insight, by Distribution Channel
Hypermarkets/Supermarkets
Independent Retailers
Convenience Store
Others (Specialist Retailers, Online)

Market Insight, by Region
Americas Food Market
United States
Canada
Rest of America

Europe Frozen Food Market
Germany
UK
France
Italy
Spain
Rest of Europe

Asia-Pacific Frozen Food Market
China
Japan
India
South Korea
Rest of Asia-Pacific
Rest of World Frozen Food Market

Top Company Profiles
Nestle
Ajinomoto Inc.
Goya Foods
ConAgra Foods
General Mills
Heinz Company
Tyson Foods
Unilever PLC
Maple Leaf Foods
Nomad Foods
McCain Foods Limited
Oetker

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UMI understands that you may have your own business need, hence we also provide fully customized solutions to clients. The Global Frozen Food market can be customized to the country level or any other market segment.

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