The global market for frozen foods is projected to reach US$ 314,285 million in 2022 and then rise at a CAGR of 6.7% to reach US$ 602,257 million by 2032. Rising consumer desire for prepared foods is credited with growth. A CAGR of 6.0% was recorded for the frozen food market from 2016 to 2021.
Frozen foods are food items such as seafood, meat & poultry, vegetable & fruits, convenience foods, and more that are preserved under low temperatures for future usage. They are often used as an alternative or a substitute for fresh and cooked foods. Frozen meat, and seafood have the highest demand of all frozen food products, and they are readily available at grocery stores.
Food preservation has been an ancient practice that humans use to prevent the spoilage of food items or products. The practice is motivated by the surplus food items within the clement season and shortage of food during winter. Preservation via drying, salting, and smoking has been an old practice. However, the innovation of technology has replaced such practices since it can’t be used for preserving some food items like vegetables, fruits, and uncooked meat or seafood. The use of refrigerators or freezers has enhanced food preservation in the industrial age as both cooked and uncooked food items can be stored in them.
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Frozen Food Market Driven by Change in Consumer Lifestyle
The change in consumer lifestyle has prompt the need for the provision of convenience food globally. And this has fostered the rise in demand for frozen foods in the global market. Also, the rise in the number of working women, coupled with the growing number of single-person households has been a significant factor that will drive the tremendous growth of the frozen foods market over the forecast period. It’s now a global norm to consume frozen foods daily due to the change in lifestyle.
Increase in Awareness Regarding the Health Benefits of Frozen Foods
Today’s on the go consumers are on the watch of their health and are ready to spend on health-enhancing products. With the increase in the awareness of the health benefits associated with frozen foods consumption, the market is expected to experience an inclination globally over the forecast period.
The frozen food market is capitalizing on this consumer sentiment to increase the production of health befitting products. The dairy industry in this sector is manufacturing products with low sugar content and minimal processing. Diary based frozen foods like yogurt,s, ice cream are a rich source of vitamin D, phosphorus, and calcium.
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Frozen Food Market: Region-wise Analysis
Europe has the largest market in the global frozen food market with the transformation in consumer’s attitude towards frozen food within the region. Consumption of frozen food within the European Union countries has increased tremendously due to the improvement in the standard of living and shift towards convenience lifestyle.
Africa and the Asia Pacific regions will register a significant growth in the frozen food market over the forecast due to the less availability of fresh foods and busy lifestyle within the regions. The rise in disposable income of countries like China, India and Japan is another force driving the growth of the global frozen food market within the Asia Pacific region. Other regions such as North America and Middle East are expected to record a moderate growth in the industry over the forecast period.
Frozen Food Market: Competitive Landscape
A portion of the key members present in the worldwide frozen food market incorporate
Aryzta A.G., Ajinomoto Co. Inc., Cargill Integrated, General Factories Inc., JBS S.A., Kellogg Organization, the Kraft Heinz Organization, Settle S.A., ConAgra Brands, Inc., Related English Foods Plc among others.
Credited to the presence of such countless members, the market is exceptionally cutthroat. While worldwide players like Aryzta A.G., Ajinomoto Co. Inc., Cargill Consolidated, General Factories Inc., JBS S.A. represent impressive market size, a few territorial level players are likewise working across key development districts, especially in the Asia Pacific.
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Key Segments Profiled in the Frozen Food Industry
Frozen Food Market by Type:
- Frozen Fruits and Vegetables
- Frozen Meat and Fish
- Frozen Desert
- Frozen Snacks
- Frozen Cooked Ready Meals
- Other Frozen Food Types
Frozen Food Market by Category:
- Ready to eat Frozen Food
- Ready to cook Frozen Food
- Ready to drink Frozen Food
- Others Frozen Food Categories
Frozen Food Market by Freezing Technique:
- Blast Freezing of Foods
- Belt Freezing of Foods
- Individual Quick Freezing (IQF) of Foods
- Others Freezing Techniques
Explore FMI’s Other Extensive Reports of Food & Beverage:
Frozen Pet Food Market Share : The global frozen pet food market is expected to reach market valuation of US$ 14 Bn by 2022, with demand increasing at a CAGR of 5.1% over the assessment period.
Raw, Fresh, & Frozen Dog Food Market Size : Based on the geographical factors, the raw, fresh, & frozen dog food market is broadly segmented into seven regions – North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa.
Frozen Food Packaging Market Analysis : The global frozen food packaging market is estimated at US$ 860 Mn in 2022 and is projected to reach US$ 1,649 Mn by 2032, at a CAGR of 7.5% from 2022 to 2032.
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Published by: Future Market Insights, Inc.