Frozen Food Market to Register Significant Growth Driven by Its Longer Shelf Life and Changing Lifestyles and Busy Schedules

Frozen Food Market Scope & Overview

According to a report from SNS Insider, the Frozen Food Market was valued at USD 295.68 billion in 2022. It is projected to reach USD 457.22 billion by 2030, with a compound annual growth rate (CAGR) of 5.6% during the forecast period of 2023-2030.

Frozen food refers to any type of food that has been subjected to freezing temperatures to preserve its freshness, flavor, and nutritional value. It is a convenient and widely available option for consumers who want to stock up on food that can be stored for extended periods and enjoyed later.

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Key Players Covered in Frozen Food market report are:

Aryzta A.G,
Ajinomoto Co. Inc.,
Jbs S.A.,
Cargill Incorporated,
General Mills Inc.,
Kellogg Company,
Conagra Brands, Inc.,
The Kraft Heinz Company,
Nestle S.A.,
Associated British Foods Plc.

Market Analysis

In today's fast-paced world, convenience and accessibility have become paramount for consumers, shaping their preferences when it comes to food choices. One significant trend that has emerged in recent years is the increasing popularity of shelf-stable foods. These products, designed to have an extended shelf life without the need for refrigeration, offer convenience, flexibility, and a reliable source of nutrition. This surge in demand for shelf-stable foods is expected to have a transformative effect on the frozen food market, driving its growth and expanding its size over the next few years. The rise in urbanization, busy schedules, and a growing focus on convenience have significantly influenced consumer lifestyles. As a result, consumers are seeking food options that are easy to prepare, require minimal storage requirements, and can be consumed on-the-go.

Impact of Recession

Recessions can undoubtedly impact the frozen food market, influencing consumer behavior, market dynamics, and industry trends. While the demand for certain frozen food products may fluctuate, companies that can adapt to changing consumer needs, offer affordability, and prioritize innovation may find opportunities for growth and success, even in challenging economic times.

Segmentation Analysis

The dominance of the Frozen Ready Meals segment and the Food Service Industry segment in the frozen food market can be attributed to factors such as changing consumer lifestyles, expanded product offerings, technological advancements, brand trust, and the unique requirements of the food service sector. As consumer preferences continue to evolve, these segments are likely to maintain their strong positions, driving further growth and innovation in the market.

Frozen Food Market Segmentation as Follows:

By Product Type:
Ready meals
Frozen seafood
Frozen meat & poultry
Frozen fruit & vegetables
Frozen potatoes
Frozen soups

By User:
Foodservices industry
Retail users

By Distribution Channel:
Offline
Online

Segmented by Region/Country:
North America
Europe
China
Japan
Asia Other

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Regional Status & Analysis

North America has established itself as a dominant force in the global frozen food market, making significant contributions to its growth. The region's consumers, particularly millennial, have shown a growing affinity towards frozen food due to its numerous advantages, including single serving options and ease of preparation. As we delve into the forecast period, several emerging trends are set to propel the North American market even further, revolutionizing the way consumers perceive and interact with frozen food.

Conclusion

The surge in the popularity of shelf-stable foods reflects the evolving consumer preferences for convenience, variety, and nutritional value. This trend is expected to significantly impact the market, stimulating its growth and expanding its size. Manufacturers and retailers can capitalize on this opportunity by innovating their product offerings, incorporating healthier options, and leveraging advanced packaging and processing technologies.

Frequently Asked Questions about this Industry Report

Q1. What is the projected outlook for frozen food market growth?

ANS: The market is projected to exceed USD 457.22 billion by the year 2030.

Q2. What are the major factors influencing the frozen food market?

ANS: The increasing popularity of shelf-stable foods is likely to expand the market as consumers seek a wider variety of convenient and flexible food choices.

Q3. Who are the leading players in the frozen food market?

ANS: Aryzta A.G, Ajinomoto Co. Inc., Jbs S.A., Cargill Incorporated, General Mills Inc., Kellogg Company, Conagra Brands, Inc., The Kraft Heinz Company, Nestle S.A., Associated British Foods Plc.

Table of Content - Analysis of Key Points

1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession on Major Economies
5. Value Chain Analysis
6. Porter's 5 forces model
7. PEST Analysis
8. Frozen Food Market Segmentation, By Product Type
9. Frozen Food Market Segmentation, By User
10. Regional Analysis
11. Company Profiles
12. Competitive Landscape
13. Conclusion

Continued…

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