Special Offer: SPECIAL OFFER: Avail Attractive Year End Discount!

Global Frozen Food Market, By Product Type (Fruits & Vegetables, Frozen Dairy Products, Bakery Products, Meat & Seafood Products, Convenience Foods & Ready Meals and Others); By Distribution Channel (Offline and Online Channels); By Region, (North America, Europe, the Asia-Pacific, the Middle East & Africa, and Latin America) Trend Analysis, Competitive Market Share & Forecast, 2017-2027

  • Published Date: September 2021
  • Report ID: BWC21101
  • Available Format: PDF
  • Page: 205

Report Overview

The recent expansion of this market can be attributed to key driving factors such as the rise of the working-class population, the rise of millennials, improvements in dietary lifestyles, technological advances in the cold chain industry, and retail reforms. The convenience of cooking and longer shelf life are the key reasons why people prefer frozen food.

Global Frozen Food Market- Industry Trends & Forecast Report 2027

Global frozen food market was worth USD 245.1 billion in 2020. It is further projected to reach USD 342.9 billion by 2027, at a CAGR of 5.0% during 2021-2027 (forecast period). The recent expansion of this market can be attributed to key driving factors such as the rise of the working-class population, the rise of millennials, improvements in dietary lifestyles, technological advances in the cold chain industry, and retail reforms. The convenience of cooking and longer shelf life are the key reasons why people prefer frozen food.

Frozen Food Market

Source: BlueWeave Consulting

Global Frozen Food Market Overview

Food items that have been frozen and kept at a low temperature for a long time are known as frozen food. The frozen food market has everything from ready-to-eat foods, desserts, and snacks, to ready meals, soup, vegetables, fruits, fish, meat, and seafood. The growth of the frozen food market can be attributed to an increase in disposable income, impulsive buying trends by millennials, technological advancements in cold chain industries, retail environment reforms, and its key advantage of having a longer shelf life than freshly generated food. However, the most significant impediment to this market is the perception that frozen foods are a poor substitute for fresh foods and are nutritionally deficient. Furthermore, the lack of established cold chain infrastructure in developing countries could limit the growth of the frozen food market during the forecast period.

Global Frozen Food Market Trends

Growth Drivers

Increased demand for convenience in food

Because of the hectic lifestyles of millennials and the increasing working population, the frozen food market has grown steadily, especially in ready meals, frozen meat, on-the-go food, and other categories. Frozen foods have grown in popularity in urban areas because they need less time and effort to prepare than fresh produce. According to the World Bank, approximately 55% of the world's population lives in urban areas as of 2020, and by 2045, the figure is projected to rise by 1.5 times to 6 billion. Furthermore, the rise in disposable income of many households, combined with the impulsive buying trend among consumers, has led to an increase in the consumption of frozen food. Freezing of food extends their shelf life and makes them free from any added preservative. As a result, customers are drawn to these frozen food items, ensuring the market's continued viability.

Online Retail Industry

One of the emerging trends among consumers is online shopping. The digitalization of the retail industry has fueled the growth of the frozen food market. The introduction of new apps, increased mobile usage, and unrestricted internet access have simplified and increased the purchasing of frozen foods based on consumer preferences. According to Eurostat, approximately 26% of the global population purchased food via e-commerce websites or applications in 2018. Moreover, customers are increasingly turning to online shopping for purchasing frozen goods as a result of the pandemic's outbreak and the risk of virus exposure when going outside. In 2020, it was recorded that 42% of the households that buy frozen food have started buying them online, up from 26% in 2018.

Restraints

Consumer preference for fresh and organic foods

Frozen food is widely regarded as a poor replacement for fresh food by the general public. It is assumed that food that has been stored for more than a year loses all of its nutritional value. However, such myths were broken by the U.S. Food and Drug Administration (FDA) and the International Food Information Council (IFIC). While nutrients such as vitamin C and folate can decompose due to temperature changes, nutrients are retained in frozen vegetables by storing at a constant low temperature or below the freezing point. This myth about frozen food can be resolved by raising customer consciousness about the quality of frozen foods.

Impact of COVID-19

With the advent of the COVID-19 pandemic, which caused many countries to declare a state of emergency, customers opted to eat more family meals than ever before. Frozen foods were the most convenient and cost-effective solution for families during the lockdown phase. Frozen food items offer the benefit of a longer shelf life than natural produce thus, saving consumers from making daily trips to the store and exposing themselves to the virus.

According to the American Frozen Food Institute (AFFI), frozen foods accounted for USD 65.1 billion in retail sales in 2020, representing a 21% rise over the previous year. During the pandemic, the increasing growth of the frozen food market has resulted in technical advances in the cold chain industry. However, in the final few months of 2020, offline retail markets, including supermarkets/hypermarkets, faced a severe shortage of frozen food products due to a disrupted supply chain.

 

Global Frozen Food Market: By Product Type

Based on product type, the global frozen food market is categorized into fruits & vegetables, frozen dairy products, bakery products, meat & seafood products, convenience foods, and ready meals and other products. Among all these, the ready meals segment held the largest share in 2020 followed by frozen meat and poultry products. Frozen-ready meals are rich in nutrition and taste. They also have a considerably longer shelf-life, which makes them convenient to use. These factors boost the market for such products. It is worth noting that the working-class people are the primary buyers of frozen ready meals or frozen meat/poultry items.

Global Frozen Food Market: By Distribution Channel

Based on the distribution channel, the global frozen food market is segmented into the offline channel (supermarkets, hypermarkets, and others), and online channel. The offline channel segment held the largest share in the frozen food market in 2020. Since convenience stores and supermarkets have perfect freezing and temperature-controlled facilities, it drives the growth of offline distribution channels.

However, many customers have flocked to online platforms to purchase frozen foods as a result of national lockdowns imposed during the coronavirus pandemic and the fear of being exposed to the deadly virus when stepping out. This has resulted in a 42% rise in consumers shopping for frozen goods online in 2020. Thus, online platforms are emerging as one of the fastest-growing segments in the global frozen foods market.

Global Frozen Food Market: Regional Insights

The global frozen food market is categorized into North America, Europe, the Asia-Pacific, Latin America, the Middle East & Africa. In 2020, Europe accounted for the largest share in the frozen food market. Recently, Europe has seen a large increase in the number of vegans, which has boosted sales of frozen vegetables and their products in the region. Increased urbanization, higher purchasing power, economic stability, and changes in dietary preferences are some of the other driving factors. The sudden outbreak of the pandemic also increased the sales of frozen foods in this region

Moreover, the Asia-Pacific market is expected to grow significantly during the forecast period. There has been an increase in the number of cold chain infrastructures in various developing countries primarily South and Southeast Asian countries. This has boosted the supply of frozen food in this region. An increase in online retail platforms catering to digital shopping of frozen food has also aided in the tremendous growth of this market.

Regional Insights

Source: BlueWeave Consulting

Competitive Landscape

The frozen food market is highly fragmented, with regional and foreign players competing for market share. Companies are continuously competing on various attributes such as product offerings, composition, quality, taste, flavors, price, scale, packaging, and marketing activities. The key players in this market are- General Mills Inc., Conagra Brands Inc., Nestle SA, Unilever, Kellogg Company, McCain Foods Limited, Kraft Heinz Company, Associated British Foods plc, Ajinomoto, Kuppies, Omar International Pvt Ltd., Shishi He Deming, and other prominent players.

The market players are taking every possible measure to ensure that the supply of frozen food in the market is not affected by any means during the COVID-19 breakdown. Several players in the frozen food market are entering into partnerships or adopting the strategy of merger & acquisitions with various food delivering corporations to gain a competitive edge in the market. These businesses are also focusing on strengthening their distribution channels in order to gain a larger market share and greater consumer penetration.

Recent Developments

  • In January 2021, ITC Ltd. stated that its frozen snack business grew three times since the pandemic.
  • In October 2020, Nestle announced the acquisition of Freshly, one of the most successful fresh-prepared meal delivery services in the United States.
  • In July 2020, Tyson Foods, Inc., launched its range of frozen chicken in the European foodservice market, which includes cafeterias, restaurants, and caterers.
  • In July 2020, Conagra Brand Inc. introduced more than 24 new products in North America in response to the high demand for frozen food amid the COVID-19 pandemic.

 

Scope of the Report

Attribute

Details

Years Considered

Historical data – 2017-2020

Base Year – 2020

Forecast – 2021 – 2027

Facts Covered

Revenue in USD Billion

Market Coverage

U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Argentina, Japan, South Korea, China, India, Australia, UAE, South Africa, Saudi Arabia

Product/Service Segmentation

By Product Type, By Distribution Channel

and By Region

Key Players

Key Players for the market General Mills Inc., Conagra Brands Inc., Nestle SA, Unilever, Kellogg Company, McCain Foods Limited, Kraft Heinz Company, Associated British Foods plc, Ajinomoto, Kuppies, Omar International Pvt Ltd., Shishi He Deming, and other prominent players.

 

By product type

  • Fruits & vegetables
  • Dairy products
  • Bakery products
  • Meat & seafood products
  • Convenience food & ready meals
  • Other products

By distribution channel

  • Offline
  • Online

By region

  • North America
  • Europe
  • The Asia Pacific
  • Latin America
  • The Middle East & Africa
  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Research Methodology
    1. Qualitative Research
      1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
      1. Primary & Secondary Research Application
      2. Secondary Research
      3. Primary Research
    4. Breakdown of Primary Research Respondents, By Region
    5. Assumption & Limitation
  3. Executive Summary
  4. Global Frozen Food Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
    3. Industry Life Cycle Analysis
    4. Porter’s Five Forces Analysis
      1. Bargaining Application of Suppliers
      2. Bargaining Application of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  5. Global Frozen Food Market Overview
    1. Market Size & Forecast by Value, 2017-2027
      1. By Value (USD Billion)        
    2. Market Share & Forecast
      1. By Product Type
        1. Fruits & Vegetables
        2. Frozen Dairy Products
        3. Bakery Products
        4. Meat & Seafood products
        5. Convenience Foods and Ready Meals
        6. Others
      2. By Distribution Channel
        1. Offline
        2. Online Channels
        3. Others
      3. By Region
        1. North America
        2. Europe
        3. The Asia-Pacific
        4. South America
        5. The Middle East and Africa
  6. North America Frozen Food Market  
    1. Market Size & Forecast by Value, 2017-2027
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Product Type
      2. By Distribution Channel
      3. By Country
        1. U.S.
        2. Canada
  7. Europe Frozen Food Market
    1. Market Size & Forecast by Value, 2017-2027
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Product Type
      2. By Distribution Channel
      3. By Country
        1. France
        2. Germany
        3. Italy
        4. Spain
        5. U.K
        6. Russia
        7. Rest of Europe
  8. Asia-Pacific Frozen Food Market
    1. Market Size & Forecast by Value, 2017-2027
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Product Type
      2. By Distribution Channel
      3. By Country
        1. Japan
        2. China
        3. India
        4. South Korea
        5. Australia and New Zealand
        6. Southeast Asian Countries
        7. Rest of APAC
  9. Latin America Frozen Food Market
    1. Market Size & Forecast by Value, 2017-2027
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Product Type
      2. By Distribution Channel
      3. By Country
        1. Brazil
        2. Argentina
        3. Mexico
        4. Rest of Latin America
  10. The Middle East & Africa Frozen Food Market
    1. Market Size & Forecast by Value, 2017-2027
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Product Type
      2. By Distribution Channel
      3. By Country
        1. South Africa
        2. Saudi Arabia
        3. U.A.E.
        4. Kuwait
        5. Iran
        6. Turkey
        7. Nigeria
        8. Kenya
        9. Rest of MEA
  11. Competitive Landscape
    1. List of Key Players and their Offerings
    2. Company Market Share Analysis, 2020
    3. Competitive Benchmarking, By Operating Parameters
    4. Competitive Benchmarking, By Product Offerings
  12. Impact of Covid-19 across Global Frozen Food Market
  13. Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
    1. General Mills Inc.
    2. Conagra Brands Inc.
    3. Nestle SA
    4. Unilever
    5. Kellogg Company
    6. McCain Foods Limited
    7. Kraft Heinz Company
    8. Associated British Foods plc
    9. Ajinomoto
    10. Kuppies
    11. Omar International Pvt Ltd.
    12. Shishi He Deming
    13. Other Prominent Players.
  14. Key Strategic Recommendations

 

*Financial details of unlisted companies will be available as per data availability in the final deliverable

**The segmentation and the companies are subjected to modifications based on the in-depth secondary for the final deliverable

 

List of Figures

 

Fig: Global Food Frozen Market Segmentation

 

Fig: Global Food Frozen Market Value Chain Analysis

 

Fig: Company Market Share Analysis, 2020

 

Fig: Global Food Frozen Market Size, By Value (USD Billion), 2017-2027

 

Fig: Global Food Frozen Market Share (%), By Product Type, By Value, 2017-2027

 

Fig: Global Food Frozen Market Share (%), By Distribution Channel, By Value, 2017-2027

 

Fig: Global Food Frozen Market Share (%), By Region, By Value, 2017-2027

 

Fig: North America Market Size, By Value (USD Billion), 2017-2027

 

Fig: North America Market Share (%), By Product Type, By Value, 2017-2027

 

Fig: North America Market Share (%), By Distribution Channel, By Value, 2017-2027

 

Fig: North America Market Share (%), By Region, By Value, 2017-2027

 

Fig: Europe Market Size, By Value (USD Billion), 2017-2027

 

Fig: Europe Market Share (%), By Product Type, By Value, 2017-2027

 

Fig: Europe Market Share (%), By Distribution Channel, By Value, 2017-2027

 

Fig: Europe Market Share (%), By Region, By Value, 2017-2027

 

Fig: Asia-Pacific Market Size, By Value (USD Billion), 2017-2027

 

Fig: Asia-Pacific Market Share (%), By Product Type, By Value, 2017-2027

 

Fig: Asia-Pacific Market Share (%), By Distribution Channel, By Value, 2017-2027

 

Fig: Asia-Pacific Market Share (%), By Region, By Value, 2017-2027

 

Fig: Latin America Market Size, By Value (USD Billion), 2017-2027

 

Fig: Latin America Market Share (%), By Product Type, By Value, 2017-2027

 

Fig: Latin America Market Share (%), By Distribution Channel, By Value, 2017-2027

 

Fig: Latin America Market Share (%), By Region, By Value, 2017-2027

 

Fig: Middle East & Africa Market Size, By Value (USD Billion), 2017-2027

 

Fig: Middle East & Africa Market Share (%), By Product Type, By Value, 2017-2027

 

Fig: Middle East & Africa Market Share (%), By Distribution Channel, By Value, 2017-2027

 

Fig: Middle East & Africa Market Share (%), By Region, By Value, 2017-2027

List of Tables

Table: North America Frozen Food Market Size, By Product Type, By Value (USD Billion), 2017-2027

 

Table: North America Frozen Food Market Size, By Distribution Channel, By Value (USD Billion), 2017-2027

 

Table: North America Frozen Food Market Size, By Region, By Value (USD Billion), 2017-2027

 

Table: Europe Frozen Food Market Size, By Product Type, By Value (USD Billion), 2017-2027

 

Table: Europe Frozen Food Market Size, By Distribution Channel, By Value (USD Billion),2017-202

7

Table: Europe Frozen Food Market Size, By Region, By Value (USD Billion), 2017-2027

 

Table: the Asia-Pacific Frozen Food Market Size, By Product Type, By Value (USD Billion), 2017-2027

 

Table: the Asia-Pacific Frozen Food Market Size, By Distribution Channel, By Value (USD Billion), 2017-2027

 

Table: the Asia-Pacific Frozen Food Market Size, By Region, By Value (USD Billion), 2017-2027

 

Table: Latin America Frozen Food Market Size, By Product Type, By Value (USD Billion), 2017-2027

 

Table: Latin America Frozen Food Market Size, By Distribution Channel, By Value (USD Billion), 2017-2027

 

Table: Latin America Frozen Food Market Size, By Region, By Value (USD Billion), 2017-2027

 

Table: The Middle-East & Africa Frozen Food Market Size, By Product Type, By Value (USD Billion), 2017-2027

 

Table: The Middle-East & Africa Frozen Food Market Size, By Distribution Channel, By Value (USD Billion), 2017-2027

 

Table: The Middle-East & Africa Frozen Food Market Size, By Region, By Value (USD Billion), 2017-2027

 

Table: General Mills Inc. Financial Analysis

Table: General Mills Inc. Business Overview

Table: Conagra Brands Inc. Financial Analysis

Table: Conagra Brands Inc. Business Overview

Table: Nestle SA Financial Analysis

Table: Nestle SA Business Overview

Table: Unilever Financial Analysis

Table: Unilever Business Overview

Table: Kellogg Company Financial Analysis

   

Table: Kellogg Company Business Overview

   

Table: McCain Foods Limited Financial Analysis

 

Table: McCain Business Overview

 

Table: Kraft Heinz Financial Analysis

 

Table: Kraft Heinz Business Overview

 

Table: Associated British Foods plc Financial Analysis

Table: Associated British Foods Business Overview

Table: Ajinimoto Financial Analysis

   

Table: Ajinomoto Business Overview

   

Table: Kuppies Financial Analysis

 

Table: Kuppies Business Overview

Table: Omar International Pvt Ltd. Financial Analysis

Table:  Omar International Pvt Ltd.  Business Overview

Table: Shishi He Deming Financial Analysis

Table:  Shishi He Deming Business Overview

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Market Segmentation

By product type

  • Fruits & vegetables
  • Dairy products
  • Bakery products
  • Meat & seafood products
  • Convenience food & ready meals
  • Other products

By distribution channel

  • Offline
  • Online

By region

  • North America
  • Europe
  • The Asia Pacific
  • Latin America
  • The Middle East & Africa
No data available

To request a free sample copy of this report, please complete the form below.

We value your investment and offer free customization with every report to fulfil your exact research needs.

This website is secure and your personal details are safe.