Frozen Food Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Frozen Desserts; Frozen Bakery; Frozen Meat, Poultry, and Seafood; Frozen Ready Meals; Frozen Snacks and Appetizers; Others) and By Distribution Channel (Supermarkets and H

Frozen Food Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Frozen Desserts; Frozen Bakery; Frozen Meat, Poultry, and Seafood; Frozen Ready Meals; Frozen Snacks and Appetizers; Others) and By Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, and Others)

The frozen food market is expected to grow from US$ 251,155.35 million in 2021 to US$ 373,767.59 million by 2028; it is expected to grow at a CAGR of 5.9% from 2022 to 2028.

Frozen food consists of frozen desserts, meat, poultry, seafood, snacks, ready meals, fruits, vegetables, soups, etc. These products are preserved by freezing, preventing microbial and pathogenic attacks. Frozen food has an extended shelf life of 3-6 months, making them highly convenient. Moreover, freezing retains the essential vitamins, minerals, and other nutrients in the food, which makes them more nutritious. Frozen food products are gaining massive traction among the working population as they are convenient to consume and require minimum preparation time. This factor is primarily driving the growth of the frozen food market.

Based on type, the frozen food market is segmented into frozen desserts; frozen bakery; frozen meat, poultry, and seafood; frozen ready meals; frozen snacks and appetizers; others. The meat, poultry, and seafood segment are projected to register the largest share during the forecast period. Frozen meat products are growing in popularity as they can be stored conveniently, which reduces food wastage. The rising demand for frozen meat, poultry, and seafood products owing to their extended shelf life and requirement of minimum preparation time are driving the segment’s growth.

Further, meat is a rich source of proteins and contains essential amino acids and collagen. Hence, the benefits associated with consuming frozen meat encourage consumers to include frozen meat products in their diet. These factors are expected to boost the demand for meat, poultry, and seafood and further fuel the growth of the frozen food market during the forecast period.

By geography, the frozen food market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. In 2021, Europe held the largest market share during the forecast period. The growth of market in Europe is mainly attributed to the rising demand for convenience food, extensive retail infrastructure, and availability of a wide range of products of different brands across different distribution channels. Moreover, consumers with high per-capita income are also driving the demand for frozen food, especially frozen meals, bakery products, and snacks. Consumers are seeking nutritional benefits from the products they consume. Therefore, the demand for clean, organic, gluten-free, and minimally processed frozen food has increased significantly, driving the region's market growth. These factors are fueling the growth of the frozen food market across Europe.

The leading players in the frozen food market are Conagra Brands, Inc.; General Mills Inc.; Pepperidge Farm Incorporated; Bonduelle Group; Mccain; Bellisio Foods, Inc.; Tyson Foods, Inc.; Kellogg's Company; Nestlé S.A.; and The Kraft Heinz Company. These players are developing various products to address consumers' growing demand. For instance, in 2021, Nestle's expanded its frozen food facility in South Carolina with US$ 100 million investments for its brands such as Stouffer's and Lean Cuisine.

The size of the frozen food market has been derived using primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, national sales managers, and external consultants—including valuation experts, research analysts, and key opinion leaders—specializing in the frozen food market.

Reason to buys

Highlights key business priorities in order to assist companies to realign their business strategies.
The key findings and recommendations highlight crucial progressive industry trends in the global frozen food market, thereby allowing players to develop effective long-term strategies.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.