Dublin, Aug. 08, 2024 (GLOBE NEWSWIRE) -- The "U.S. Frozen Food Market - Focused Insights 2024-2029" report has been added to ResearchAndMarkets.com's offering.
The U.S. Frozen Food Market was valued at USD 76 billion in 2023, and is expected to reach USD 92.94 billion by 2029, rising at a CAGR of 3.41%.
The U.S. frozen food market report contains exclusive data on 28 vendors. National brands constantly innovate with new formats, flavors, and healthier options to cater to consumer needs and preferences. They are focusing on nutritional benefits-based frozen food products to stay ahead in the market competition. Larger companies focus on acquiring small players, such as producers and sellers, to align with premiumization. They are also expanding their product portfolio and focusing on increasing market share.
Many companies are entering this market with flavorful frozen dishes to gain traction. Companies compete in terms of price and quality of products. The private label brands are offering frozen food at lower prices. It caters to the convenience and affordability factors in the market. Leading companies in the market are Conagra Brands, Inc., General Mills, Hormel Foods, JBS Foods, Kellanova, Nestle, Smithfield Foods, Sysco Corporation, The Kraft Heinz Company, and Tyson Foods.
MARKET TRENDS & DRIVERS
Growing Demand for Plant-Based Frozen Food
The demand for plant-based frozen food is growing significantly in the U.S. frozen food market due to increased interest in plant-based diets, convenience factors, innovation in plant-based products, health & wellness focus, and rising awareness about environmental sustainability. In the U.S., wholesale suppliers are stocking various vegetarian and vegan frozen food options to meet consumer preferences. Thus, frozen food manufacturers are taking advantage of this opportunity and offering meat alternatives to acter plant-based consumers in the U.S. market.
Many plant-based frozen meals are known as healthy options, which contain lower cholesterol, calories, and saturated fat than traditional frozen meals. Many consumers seek vegan, vegetarian, or flexitarian diets due to environmental, ethical, or health concerns. This rising demand for dietary food preferences increases demand for plant-based options. Frozen food offers convenience, and plant-based frozen options can cater to this need.
Food companies are constantly developing improved and new plant-based alternatives that offer the same texture and taste as meat. It makes plant-based meals more attractive in the market. In the U.S., major frozen food companies are launching new plant-based food products. For instance, in 2022, Conagra's Gardein brand launched plant-based frozen food in the U.S. market. This leads to a drive in the demand for frozen food in the U.S. market during the forecast period.
Higher Demand for Premium Frozen Food
Demand for premium frozen food is rising in the U.S. frozen foods market due to various factors shifting consumer preferences, innovation, premiumization, and evolving perception. The growing desire for convenience and a busy lifestyle drive the demand for prepared meals. However, U.S. consumers want high-quality food, and they are seeking convenient options that are also delicious and healthy.
The U.S. frozen food industry is responding to this trend by offering a wider variety of premium frozen food. It includes globally inspired flavors, restaurant-inspired dishes, plant-based options, and organic & all-natural ingredients. Premium frozen food caters to health-conscious people. This is much more than the frozen food trend, as demand for it is rising from various industries.
Due to the high disposable income, people are willing to pay more for frozen food with high-quality ingredients, rival restaurant quality, and unique flavors. The perception that frozen food is no longer an unhealthy and low-quality option is rising in the U.S. market. Companies are focusing on social media advertising to promote their premium frozen foods, and this is changing consumer perception of the frozen food category. This will drive the demand for frozen food in the U.S. market during the forecast period.
Increasing Demand for Time-saving And Convenient Food Options
The demand for time-saving and convenient food options is rising in the U.S., a major driver in the U.S. frozen food market. Factors like busy lifestyles, convenience, storage, variety, and working parents drive this. The U.S. people have busy schedules, are dual-income, and have less time for meal preparation. Frozen meals can offer a convenient and quick alternative that can be prepared and served less quickly.
Frozen food requires minimal cleanup and preparation work as compared to fresh ingredients. It is a more convenient way for busy families and individuals to get around. Many of the families have both full-time working parents, who have less time for cooking. Thus, they are looking for a food alternative that is quickly prepared and has nutritional qualities. Frozen food offers a longer shelf life, allowing easier meal planning and reducing food waste. In the U.S., people waste food, which is equal to around 140 billion meals each year.
As this market has evolved significantly, it offers various options beyond traditional dinners. Thus, consumers can find healthy frozen foods, single-serve portions, gourmet dishes, and ethnic cuisines. The industry constantly innovates exciting new frozen food options, keeping consumers interested and engaged. The rise of online grocery shopping makes it more convenient to purchase frozen food, which contributes to the growth of the U.S. frozen food market.
INDUSTRY RESTRAINTS
Food Safety Concerns
Food safety concerns are indeed a challenge in the U.S. frozen food market. The main concerns are pathogens, consumer handling, temperature control, and contamination. Bacteria like Salmonella and Listeria monocytogenes can survive freezing temperatures. It causes serious illness if not handled during storage, preparation, or processing. During the supply chain, contamination can happen at various points, from processing to transportation & storage. It is important to maintain the temperature throughout the supply chain.
The continuously changing temperature can lead to refreezing and partial thawing, possibly creating bacterial growth. The improper handling of frozen food at home, such as not reheating to the proper temperature or thawing at room temperature, may hinder the U.S. frozen food market's growth during the forecast period.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 79 |
| Forecast Period | 2023 - 2029 |
| Estimated Market Value (USD) in 2023 | $76 Billion |
| Forecasted Market Value (USD) by 2029 | $92.94 Billion |
| Compound Annual Growth Rate | 3.4% |
| Regions Covered | United States |
COMPETITIVE LANDSCAPE
Key Vendors
- Conagra Brands, Inc.
- General Mills
- Hormel Foods
- JBS Foods
- Kellanova
- Nestle
- Smithfield Foods
- Sysco Corporation
- The Kraft Heinz Company
- Tyson Foods
Other Prominent Vendors
- 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
SEGMENT INSIGHTS
By Product
- Prepared Food
- Desserts
- Sea Food
- Pizza
- Fully Cooked Meat
- Fruits & Vegetables
- Frozen Fresh Meat
- Others
By Age Group
- 35 to 64
- Below 34
- 65 & Above
By End-User
- B2C
- B2B
For more information about this report visit https://www.researchandmarkets.com/r/vbfman
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