New York, US, Oct. 25, 2022 (GLOBE NEWSWIRE) -- Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), "Frozen Foods Market Information by Type, Distribution Channel, and Region - Forecast till 2030”, the market can capture a growth rate of 5.93% between 2022 and 2030. The market worth by 2030-end will be close to USD 338.5 Billion.
Market Synopsis
Frozen foods are able to retain their minerals and vitamins with no change to the level of protein, fat, or carbohydrate. In a few cases, these have a higher level of minerals and vitamins compared to their fresh counterparts since the latter loses vitamins and minerals with time while freezing leads to the preservation of nutrients.
Frozen foods are the most affordable and convenient way of incorporating healthy foods from all the food groups, such as fruits, whole grains, protein, dairy, and vegetables. Other than convenience, these also benefit individuals dealing with constrained kitchen space or a fewer number of utensils. Not only do frozen foods help save costs, but they also help reduce food waste.
More than 58% of the worldwide population is residing in urban locations, a number that can surge to 69% by 2050. Urban consumers are exposed to a wider range of food options compared to those in rural areas. Moreover, the urbanization trend raises people’s living standards as well as incomes, which in turn bolsters the demand for frozen food products to a large extent.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD 338.5 Billion |
| CAGR | 5.93% (2022–2030) |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | by Type, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Rising Demand For Convenience Food |
| Growth Of The Organized Retail Sector In Asia-Pacific |
Market Competitive Landscape:
The affluent companies in the frozen foods market include
- General Mills (USA)
- Tyson Foods Inc (USA)
- Grupo Bimbo (Mexico)
- Conagra Brands Inc (USA)
- Associated British Foods Plc (UK)
- Nestle S.A. (Switzerland)
- Unilever Plc. (UK)
- Ajinomoto Company (Japan)
- Kraft Heinz Company (USA)
- McCain Foods Limited (Canada)
April 2022
Prasuma, a renowned frozen food company in India, has confirmed the addition of new lines of snacks to its expansive frozen food range. The brand will be launching frozen Chicken Nuggets, Veg and Chicken Mini Samosas, Frozen Veg and Chicken Spring Rolls, Mutton and Chicken Seekh Kababs, Bacon and Mutton and Chicken Shammi Kababs.
Market USP Covered:
Market Drivers:
The massive popularity of a variety of shelf-stable foods among people worldwide has fostered the frozen foods industry size. The Progressive Grocer says that in August 2021, the demand for frozen foods such as breakfast meals surged by 10.9%, while dinners shot up by 4.6% and frozen meat up by 3.8%. These products are vastly adopted by end users like hotels & resorts, quick-service restaurants, and full-service restaurants, which will encourage market growth in the years ahead.
The rising prominence of gluten-free dietary habits among consumers due to the numerous health advantages offered by frozen foods will further foster the market share. To illustrate, in March 2022, an ice cream brand, Halo Top, introduced a series of fruity frozen desserts along with new sorbet pints. These lines come in three flavors, namely raspberry, strawberry, and mango. Additionally, these are made using real fruits, with lesser calories and sugar, and are vegan certified, as well as gluten-free. The surging trend of consumption of healthy foods among consumers will also benefit the worldwide market.
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Market Restraints:
Emerging countries have sub-standard infrastructure that fails to supply sufficient frozen foods to consumers. Frozen foods have a good shelf life but can go bad if not stored properly, which results in huge losses for frozen food companies. This can be extremely unfavorable for the global industry in the long run.
COVID 19 Analysis
The COVID-19 outbreak’s notable impact has led to various repercussions on the health status of people across the world. The aftermath is linked with the significant social and economic burden on people worldwide. While the major policymakers are implementing new frameworks and industries are adopting advanced models of expansion to maintain their relevance, people are facing a series of mental trauma.
Around the world, the rising cases have spurred mental, and economic issues, especially among the elderly. Additionally, the younger populace has been dealing with challenges owing to the loss of livelihoods and is opting for family care to address the repercussions. The focus is largely on the treatment of COVID-19 and the development of a vaccine, which steers attention away from other markets. However, the demand for convenience ready-to-eat products has risen considerably, especially among time-pressed consumers. This should greatly benefit the global industry in the long run.
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Market Segmentation
By Product Type
The product types include meat & poultry, soup, potatoes, ready-to-eat products, seafood, vegetable & fruits, and more.
By End-User
Frozen food industry, with respect to end user, caters to retail customers along with food service.
By Distribution Channel
The major distribution channels include specialty retailers, independent stores, and convenience stores as well as hypermarkets & supermarkets.
Regional Insights
Europe is the most bankable market for frozen foods, given the high number of convenience stores, grocery stores, local shops, and supermarkets/hypermarkets in the region. The rising affinity for a variety of frozen food among people particularly millennials owing to single-serving choices and the ease of preparation will also foster the European market size in the following years.
The APAC market will go strong all through the conjectured period, with fast-emerging nations like India, China, and Japan in the lead. The rising popularity of ready-to-eat food, especially among college grads as well as the working-class populace will ensure the regional market retains its attractiveness in the years ahead.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
