Frozen Foods Market 2027-Industry Snapshot and Feasibility Analysis

The Global Frozen Food Market was valued at USD 147.1 billion in 2020 and is expected to reach USD 186.2 billion by 2027, growing at a CAGR of 3.5% during the forecast period, 2021 - 2027.

Frozen Foods Company Profiles and Competitive Intelligence:
Nestle, H.J. Heinz Company, ConAgra Foods Inc., Maple Leaf Foods Inc., General Mills, BRF SA, Tyson Foods Inc., Mother Dairy Fruit & Vegetable Pvt. Ltd., Pinnacle Foods Inc., Ajinomoto Co. Inc., Kraft Foods Group Inc., Unilever PLC, Aryzta A.G., General Mills Incorporation, Kraft foods Group Inc., Among others

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Covid 19 and the pandemic urged people to stay home during lockdown like situations. Restrictions from going out, led people to keeping frozen foods stocked at their homes. This highly rose the demand for frozen food products and thus propelled the frozen foods market during 2020. Online grocery shopping is on the rise and due to the variety and convenience of shopping, consumers have the option of choosing their preferable products. This has created an opportunity and visibility for frozen foods and this is expected to boost the frozen foods market during the forecast period. Nestle introduced a series of new products keeping in mind the millennial population in the US in 2019.

Based on region, the European Region accounted for the largest share in 2020. The major reasons for the growth of the market in the European region is the ability of the population to spend, the busy lifestyle of the consumers, and Europe being the home to large bakeries and food giants. Key players such as Aryzta, have fuelled investments into research and development for innovative products and have maintained their leadership in the frozen foods market. All these factors will lead to the surge of the frozen foods market during the forecast period.

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Global Frozen Foods Market Report Highlights:
•Based on type, the ready-to-eat meals segment accounted for the highest share in 2020.
•By distribution channel, the offline segment registered for the largest share in the market in 2020.
•By product type, Frozen potatoes segment is expected to grow at the fastest CAGR of 5% during the forecast period.

Frozen Foods Market Recent News:
•ConAgra Brands Inc. acquired Pinnacle Foods at USD 10 Billion in 2018. This acquisition created an opportunity to drive profitable growth and facilitated integration of attractive frozen meals and snacks of the combined brands.
•Tillridge Global Agribusiness Partners acquired Freshstone Brands Inc. in 2020. Freshstone Brands Inc. is a Canadian manufacturer of a private label packaged foods.
•Brynwood Partners LP acquired the North American commercial side of the Buitoni pasta brand for roughly $116 million. The enterprise value was nearly 10 times the revenue. The business was renamed to Buitoni Food Company, and will continue to manufacture ready refrigerated pasta, sauces and shredded cheese

The Global Frozen Foods Market Segmentation:
By Product Type
• Fruits & vegetables
• Frozen fruits
• Frozen vegetables
• Frozen potatoes
• Other vegetables
• Dairy Products
• Meat & Sea Food Products
• Bakery Products
• Breads & Buns
• Pizza crusts
• Other bakery products
• Others

By Type
• Raw material
• Half-cooked
• Ready-to-eat

By Distribution Channel
• Online
• Offline
• Supermarket & Hypermarket
• Convenience Stores
• Specialty Stores

By Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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This release was published on openPR.