U.S. Frozen Food Market Report 2024-2029 Featuring Leading Players and Market Projections - Arizton

According to Arizton's latest research report, the US frozen food market [https://www.focusreports.store/report/us-frozen-food-market-focused] is growing at a CAGR of 3.41% during 2023-2029.

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Report Summary

Market Size (2029): $92.94 Billion

Market Size (2023): $76 Billion

CAGR (2023-2029): 3.41%

Historic Year: 2020-2022

Base Year: 2023

Forecast Year: 2024-2029

Market Segmentation: Product, Age Group, and End-User

The prepared food segment of the US frozen food market is projected to grow at a CAGR of 4.15% during the forecast period. Key drivers of this growth include affordability, increased health consciousness, rising demand for plant-based and premium frozen options, long shelf life, and the appeal of time-saving, convenient food solutions.

For the age group under 34, the segment is expected to expand at a CAGR of 3.70%. This growth is driven by the popularity of ready-to-eat meals, innovative product offerings, and busy lifestyles that favor quick meal solutions.

The B2C segment of the US frozen food market is anticipated to grow at a CAGR of 3.73% due to the rising demand for convenient meal options and the popularity of frozen desserts and seafood. Working adults rely on frozen meals for their variety, nutritional value, and low-calorie options, driven by limited time for cooking.

Key Development

* In 2023, The Kraft Heinz Company launched its HOMEBAKE 425 degrees /:30 Trademark brand of frozen sides, entrees, and vegetable dishes. Its 15 base products can make around 500 possible menu combinations. The company designed all offerings uniquely to cook together in one standard oven for 30 minutes at 425 degrees F.
* In March 2024, Campbell Soup Company announced the completion of the acquisition of Sovos Brands, Inc. for $23 per share in an all-cash transaction. It represents a total enterprise value of approximately $2.7 billion. The Sovos Brands portfolio consists of various premium products, including pasta sauces, frozen pizza, frozen entrees, frozen pizza, yogurts, and soups, under the brand names Michael Angelo's, Rao's, and Noosa.

B2C End-User Leading the US Frozen Food Market

In 2023, the US B2C frozen food market was valued at $48.54 billion. The B2C segment encompasses frozen food sold directly to consumers through various retail channels such as supermarkets, hypermarkets, convenience stores, online retailers, and discount grocers. In 2020, demand for frozen food surged by over 48% from supermarkets and other stores compared to the previous year.

Busy consumers increasingly turn to frozen snacks and meals for convenience. Products like frozen pizzas and sandwiches offer quick, microwavable solutions for meals after work, during lunch breaks, and for individuals living alone. The variety of frozen food options caters to different cuisine preferences, dietary needs, and portion sizes.

In response to growing health consciousness, US manufacturers are expanding their healthier frozen food options offerings. This includes fruits and vegetables, reduced-sugar or reduced-fat meals, and lean protein choices.

Young adults are driving demand for affordable and convenient frozen foods, with particular interest in frozen desserts and pizzas. These trends are expected to significantly contribute to the growth of the B2C frozen food market in the US during the forecast period.

The U.S. Frozen Food Market Overview: Vendor Dynamics and Competitive Strategies

The U.S. frozen food market report highlights data on 28 key vendors. National brands are innovating with new formats, flavors, and healthier options to meet evolving consumer preferences. To maintain a competitive edge, these companies emphasize the nutritional benefits of their frozen products.

Larger companies are acquiring smaller producers and sellers to align with premiumization trends and expand their product portfolios. This approach also aims to increase their market share. Many new entrants are making a mark with flavorful frozen dishes, competing on price and quality.

Private-label brands are capitalizing on convenience and affordability by offering frozen food at lower prices. Leading companies in the market include Conagra Brands, Inc., General Mills, Hormel Foods, JBS Foods, Kellanova, Nestle, Smithfield Foods, Sysco Corporation, The Kraft Heinz Company, and Tyson Foods.

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Key Vendors

* Conagra Brands, Inc.
* General Mills
* Hormel Foods
* JBS Foods
* Kellanova
* Nestle
* Smithfield Foods
* Sysco Corporation
* The Kraft Heinz Company
* Tyson Foods
* Ajinomoto
* Bellisio Foods, Inc.
* B&G Foods Inc.
* Campbell Soup Company
* J&J Snacks Foods
* McCain Foods
* Rich Products Corporation
* Schwan's Company
* American Frozen Foods
* Amy's Kitchen
* Dairy Farmers of America Inc.
* Danone North America
* J.R. Simplot Company
* Koch Foods
* Lamb Weston Holdings, Inc.
* National Beef Packing Co.
* Unilever USA
* Wawona Frozen Foods

Segmentation & Forecast

Product

* Prepared Food
* Desserts
* Sea Food
* Pizza
* Fully Cooked Meat
* Fruits & Vegetables
* Frozen Fresh Meat
* Others

Age Group

* 35 to 64
* Below 34
* 65 & Above

End-User

* B2C
* B2B

Key Questions Answered in the Report:

How big is the U.S. frozen food market?

What is the growth rate of the U.S. frozen food market?

What are the trends in the U.S. frozen food market?

Who are the major players in the U.S. frozen food market?

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