The global Frozen Food Market size is expected to value at USD 360.36 billion by 2024. The market is subject to witness a substantial growth due to the changing lifestyle patterns, shifting preferences among consumers towards ready-to-cook meals, increasing demand for convenience food, and growing focus towards hygienic food products. Frozen food products are able to retain maximum vitamins and minerals.

The freezing allows longer shelf life for the food products and limits any form of microbial growth that leads to food spoilage. In addition, increasing penetration by e-commerce retail stores is expected to fuel the growth of frozen food industry in the upcoming years. Increasing demand form staple food products from developed economies across the globe is propelling market growth as well, in the recent years. Globally, the frozen food market is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest in research and development of the industry.

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Advanced freezing techniques not only extends life span of the food products but also maintains their nutritional value. Increasing demand for frozen fruits and vegetables from developed and developing economies is expected to positively affect market performance of frozen food industry in the upcoming years. Furthermore, emergence of advanced refrigeration media for commercial and industrial application is predicted to boost market growth over the forecast period. Increasing import and export activities for frozen food products such as chilled beef products, frozen pizza, frozen fruits & vegetable, and many more, is expected to foster market growth. Rising import activities the China and India is bolstering market growth in the upcoming years.

However, higher quantity of sodium and preservatives coupled with high-calorie value of the food product are projected to hamper the market growth to a certain extent. In addition, lack of availability of proper distribution channels and freezing facilities in rural areas of both developing and developed economies is limiting market progress, in the recent years. Yet, recent R&D activities by numerous large-scale packaged food manufacturers and advancement in freezing are estimated to offer lucrative growth opportunities for market players in the upcoming years.

Additionally, increasing penetration of large retail chains, supermarkets, hypermarkets, domestic stores and e-commerce websites in both developing as well as developed economies across the globe are expected to boost market demand for frozen food products in the upcoming years. Changing food patterns is one of the critical factor responsible for the expansion of frozen food market, in the recent years. Other factors such as changing lifestyle preferences, growing demand for convenience food, and need for maximizing limited leisure time, are expected to fuel market growth in upcoming years.

Frozen ready-to-cook meals is considered as one of the fastest growing segment in the frozen food industry with substantial revenue generation in the last couple of years. Growing popularity of the frozen ready-to-cook meal segment is attributed to growing popularity based on hygiene and timely preparation. The frozen potato segment has also witnessed massive growth, in the recent years due to rising demand for gluten free food products and high nutritional content.

The frozen food market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies for production & distribution of frozen food products, and existence of well-established industrial infrastructure in the region. Asia-Pacific region is predicted to hold major market share in the frozen food with massive growth in forecast period. Countries such as India, China, Japan and Singapore are leading the Asia-Pacific market with shifting trends towards convenience food, improved living standard, increasing per capita income, and significant investment by leading industry players considering potential growth opportunities in the region.

The key players in the frozen food industry are General Mills, Inc., Ajinomoto Inc., Nestle S.A., Unilever Plc, Allens, Inc., The H. J. Heinz Company, McCain Foods Ltd., Dole Food Company, Inc., The Schwan Food Company, Inc., Rich Products Co., and Amy’s Kitchen Incorporations.

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Global Frozen Food Market: Demand Analysis and Growth Forecast

According to the Food and Agriculture Organization of the United Nations, food losses and waste amount to $680 billion in industrialized countries and $310 billion in developing countries. This wastage can be significantly reduced by implementing the freezing technologies for preserving food and transporting them to the needs. This factor is adding significant impact on the global frozen food market, according to a recently published market research report from IndustryARC. The analyst of the report has evaluated the global frozen food market to be worth $225 billion to $228 billion in 2018, and the demand to increment at a substantial compounded annual growth rate (CAGR) of 3.5% to 5% during the forecast period of 2019 to 2025. The report is titled “Frozen Food Market: Product Type (Ready to Eat Meals, Vegetables, Fruits, Meat, Seafood, Soups) Distribution Channel (Supermarkets, Hypermarkets, Online Vendors, Convenience Stores) Geography – Forecast (2019 - 2025).”

Browse 52 Market Tables, 176 Figures spread through 159 slides and an in-depth TOC “Frozen Food Market (2019 - 2025)”

Global Frozen Food Market: Leading Segments

The analyst of the report identifies the ready meal- product segment as the leader among all application catered by the frozen food market companies, projecting its value to multiply at a CAGR of around 2.5% to 4% during the forecast period 2019 to 2025. Frozen ready-meals such as frozen fish and seafood, frozen meat and poultry, and frozen fruits and vegetables have much long shelf life as well as aid in transportation across distances. Owing to factors such as growing working women population, the rising number of single-person households, and the desire for convenience reflecting positively over the frozen food market.

Based on the geographical analysis provided in the report, Europe held the largest share, accounting for around 30% to 32% in the global frozen food market in 2018. The increasing number of options in the frozen food sector as well as the growing number of time-starved consumers and the rising preference for convenience food are driving the growth of the frozen food market in this region.

The rising disposable income among emerging economies’ urban populations has augmented the purchasing power, making frozen food market products affordable for greater masses. Advancements in freezing technologies, packaging technologies, adoption of environmental measures, and further customized options will offer its consumers a wide range of services in the frozen food marketplace in the near future.

Cryogenic freezing, one of the most widely used methods for food preservation, uses ultra-low liquid nitrogen temperature −196 °C (−320 °F) for quick freezing. This method disallows any added preservatives as microorganisms do not grow when the temperature of the food is below −9.5 °C (15 °F), a temperature that is sufficient on its own in preventing food spoilage. Frozen food is packed in cartons and crystallized PET trays to preserve the food more effectively. This technological innovations and methods are propelling the growth of the frozen food market.

Frozen Food Market Trends

Premiumisation is a key trend which is growing frozen food. The broad-spectrum of consumer insight about superior products is that they are made using high-quality ingredients and are better than conventional products is hastening the sale of premium frozen food products.

Lyophilization or freeze-drying is a very amiable dehydration process used for preserving high-quality foods. This will freeze the foods hastily in order to avoid the formation of large ice crystals, which deteriorate the final product quality.

Frozen Food Market Competitive Landscape

Some of the key companies identified in the report that are currently holding majority shares in the global frozen food market are: Nestle SA, Unilever, Kellogg Company, General Mills Inc, Conagra Brands, Inc., Grupo Bimbo S.A.B. de C.V., McCain Foods Limited, Kraft Heinz Company, Associated British Foods plc, Ajinomoto, and Vandemoortele NV.

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