Frozen Food Market by Product (Fruits & Vegetables, Dairy, Meat & Seafood), Type (Raw Material, Half Cooked), Consumption, Distribution Channel, and Region (North America, Europe, Asia Pacific, South America, and MEA) - Global Forecast to 2023
The frozen food market is estimated at USD 219.9 billion in 2018 and projected to grow at a CAGR of 5.1%, to reach USD 282.5 billion by 2023. Globally, the retail food industry has witnessed significant growth over the past few years. Development of retail channels in the form of supermarkets, hypermarkets, and convenience stores have driven and contributed to the growth of the frozen food market globally. These large food chains form an important distribution channel for frozen food products, owing to the latest trend of on-the-go consumption by the overall population. Rising per capita income and the increasing number of working women globally have further accelerated the market growth for frozen food that brings in convenience in terms of consumption and are hassle free as well.
“The convenience food & ready meals segment for frozen food is estimated to account for the largest share in 2018”
Based on product, the convenience food & ready meals segment is estimated to account for the largest share in the frozen food market in 2018. This is due to the increasing consumer preference toward convenience foods, which indirectly favors the increasing demand for frozen products. The processed food market is driven by the greater need for convenience due to the busy lifestyles of consumers. This, in turn, increases the demand for frozen products. Increasing disposable income is another factor that has a huge influence on the growth of the frozen food market, as it increases the buying power of the consumers. In addition to this, it is the lifestyle changes and growing number of working population that have also contributed to the growth of the convenience foods & ready meals segment.
“The ready-to-eat segment to be the fastest-growing segment of the frozen food market”
Based on type, the ready-to-eat segment is projected to be the fastest-growing during the forecast period. Ready-to-eat frozen foods are those products that are fully cooked and can be eaten directly. The ready meals or the ready-to-eat segment in the food sector makes it more feasible for portability and can be consumed at a desired time and place without worrying about deterioration of the product. For instance, ice cream and frozen yogurt are some of the products that have been included in this segment. Ready-to-eat frozen foods are majorly used in dessert applications, as they are easy to consume. The ice cream segment of this market has been extremely dominant and has been growing steadily due to the increasing adoption of low-calorie ice creams. Frozen yogurt is also increasing the growth of this segment in the frozen food market, as it is considered a healthy dessert.
“The food service segment for frozen food is estimated to account for the largest share in 2018”
Based on consumption, the food service segment is estimated to account for the largest share in the frozen food market in 2018. The food service industry includes restaurants, QSRs (quick service restaurants), pubs, hotels, and healthcare. Among these, QSRs dominate the foodservice industry in the frozen food market due to the high contribution of QSR chains such as McDonald’s, Starbucks, Subway, Burger King, Pizza Hut, KFC, and Dominoes, with their high number of outlets across the world. The food service industry uses frozen food items on a regular basis to save time in cooking; this reduces the time taken by the food item to reach the customers’ table. Frozen food has both quality and taste; hence, it fulfills customer expectations.
Moreover, changing consumer preferences along with the lifestyle are also influencing the demand and acceptance of food service channels. The global food service industry is growing at a fast pace due to the high demand for fast food and growth in food delivery channels making it convenient for people to take and consume the product. The food service channels have undergone major changes especially across the developing economies further giving them more opportunity to expand and flourish the business. Companies delivering products across the food service segment have also made changes with respect to the consumer preferences and geography that has evolved the industry as a whole for the food service industry.
“The online segment to be the fastest-growing segment of the frozen food market”
Based on distribution channel, the online segment is projected to be the fastest-growing during the forecast period. The online market for frozen food is expected to showcase significant growth in the coming years due to the increasing use of internet services in developing countries. Also, online shopping is more feasible and convenient as compared to offline shopping services. Consumers can get their products delivered at their doorsteps. Increasing preference for online shopping among consumers for food items and the availability of various payment options are factors that are expected to drive the market growth. In addition to this, it is the time saving factor that has further boosted the growth of frozen food sales in online distribution channel.
Europe is estimated to account for the largest share in 2018”
Europe is estimated to account for the largest share in the frozen food market in 2018, due to the rising disposable income, changing busy lifestyle of consumers, and rising health awareness. The frozen food market is highly dominant in Europe due to the demand for extended, safe, refrigerated shelf life of food; as well as favourable food preservation legislation. The strict government regulations for maintaining the quality and certifications/tags with the product have made it more appealing for the consumers to take in frozen food. Besides this, it is the increasing internet penetration especially among the young population that has propelled the market growth for frozen food. Young consumers are more aware about the nutritional benefits of the product they are consuming and thus are likely to indulge in more the frozen food products especially across the fruits segment. Moreover, the market for frozen fruits in Europe is also driven by the demand for health and wellness awareness among the population who are switching to the frozen fruits based on its nutritional benefits. MEA (Middle East and Africa) is the fastest growing market for frozen foods. The region is experiencing high growth due to increasing disposable income and strong distribution channel for availability of the frozen food products that has further boosted the demand for frozen food market.
Market Dynamics
“Frozen food market is witnessing strong growth due to the developments in the retail landscape”
The development of retail channels in the form of supermarkets, hypermarkets, and convenience stores has driven the growth of the frozen food market. These large food chains form a significant growing outlet for frozen food products, owing to the latest trend of on-the-go consumption. With this, the supermarkets are also able to capture their share in the frozen bakery food market, as a result of the increasing demand for exotic vegetables and fruits and in-house bakers. This trend is driving the frozen food market, especially the frozen bread market.
Rising preference for fresh and natural food products is a major restraint for frozen food market”
To some consumers, frozen food is thought of a product that is an inferior substitute for fresh food, which is one of the major restraints for this market. There is a notion that food processed a year or more before it is consumed could not be nutritious. However, statements such as “frozen produce can be just as good as the fresh stuff in terms of nutrition” from the US Food and Drug Administration (FDA) and the International Food Information Council (IFIC) about the nutrient content of frozen food are changing the consumer perception.
“Increasing trade of processed food provides an opportunity for growth.”
Globalization and increasing international trade are the main factors for the development of the food industry, globally. With economic development and increasing PPP, consumers can afford premium products with improved nutritional value and shelf life. Consumers now prefer a variety of food products such as premium and exotic fruits & vegetables. This drives the trade of various food products between regions.
Report Scope Table
|
Report Metric |
Details |
|
Market size available for years |
2016–2023 |
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Base year considered |
2017 |
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Forecast period |
2018–2023 |
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Forecast units |
Value(USD) |
|
Segments covered |
Product, Consumption, Type, Distribution Channel and Region |
|
Geographies covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Companies covered |
Unilever (Netherlands), Nestle SA (Switzerland), Conagra (US), General Mills (US), and Grupo Bimbo (Mexico) |
Recent Developments:
- In June 2018, Lanthanum Unawake opened a new production plant in Nowa Sól, Poland to increase its production capabilities.
- In October 2018, Conagra acquired Pinnacle Foods Inc. (US); the acquisition helped Pinnacle foods to widen its frozen meals & snacks and sweet treats categories.
- In September 2018, Grupo Bimbo added four frozen bakery lines to its Argentina plant. This step was taken to increase the export business of the company in neighboring countries such as Chile.
- In November 2018, Nestle launched Wildspace, a range of healthy frozen meals in reusable and recyclable containers. Wildscape meals include six different varieties, such as the gochujang cauliflower with Brussel sprouts, quinoa, chickpeas, pickled onions, riced cauliflower, and cashews.
- In May 2018, Nestlé launched meat-free brand—Garden Gourmet—in the UK. Garden Gourmet offers healthy meat-free products and is expected to strengthen the frozen ready meals segment in the UK.
Key questions addressed by the report:
- What are the new trending products that the frozen food companies are exploring?
- Which are the key players in the market and how intense is the competition?
- What are the upcoming growth trends that the frozen food manufacturers are focusing on in the future?
- What are the high growth opportunities in the frozen food market, for each segment?
- What are the key growth strategies adopted by major market players in the frozen food market?
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Table of Contents
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 tudy Scope
Figure 1 Frozen Food Market Segmentation
Figure 2 Frozen Food Market: Regional Scope
1.3.1 Periodization Considered
1.4 Currency Considered
1.5 Stakeholders
2 Research Methodology
2.1 Research Data
Figure 3 Frozen Food Market: Research Design
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakdown of Primaries
Figure 4 Breakdown of Primary Interviews: By Company Type, Designation, and Region
2.2 Market Size Estimation
Figure 5 Market Size Estimation: Bottom-Up Approach
Figure 6 Market Size Estimation Methodology: Top-Down Approach
2.3 Data Triangulation
Figure 7 Data Triangulation
2.4 Research Assumptions & Limitations
2.4.1 Assumptions
2.4.2 Limitations
3 Executive Summary
Figure 8 Frozen Food Market Share, By Product, 2018 vs. 2023
Figure 9 Frozen Food Market Size, By Consumption, 2018 vs. 2023 (USD Billion)
Figure 10 Frozen Food Market Size, By Type,2018 vs. 2023 (USD Billion)
Figure 11 Frozen Food Market Size, By Distribution Channel, 2018 vs. 2023 (USD Billion)
Figure 12 Europe Dominated the Frozen Food Market in 2017 33
4 Premium Insights
4.1 Attractive Growth Opportunities in the Frozen Food Market
Figure 13 Emerging Economies Offer Attractive Opportunities in the Frozen Food Market, Globally
4.2 North America: Frozen Food Market, By Product and Country
Figure 14 Convenience Food & Ready Meals Segment Was Dominant, in Terms of Product, in the European Frozen Food Market
4.3 Frozen Food Market, By Consumption
Figure 15 Foodservice Segment to Dominate the Market During the Forecast Period
4.4 Frozen Food Market, By Type
Figure 16 The Raw Material Segment to Dominate the Frozen Market, By Type, From 2018 to 2023
4.5 Frozen Food Market, By Country/Region 37
Figure 17 The Us Accounted for the Largest Share of the Global Frozen Food Market in 2017
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
Figure 18 Frozen Food Market Dynamics
5.2.1 Drivers
5.2.1.1 Developments in Retail Landscape
5.2.1.2 Rising Demand for Convenience Food
5.2.1.3 Technological Advancements in the Cold Chain Market
5.2.2 Restraints
5.2.2.1 Rising Preference for Fresh and Natural Food Products
5.2.2.2 Requires Constant Temperature Monitoring
5.2.3 Opportunities
5.2.3.1 Digitalization of the Retail Industry
Figure 19 Online Purchases of Goods & Services in the European Union (2018)
5.2.3.2 Increasing Trade of Processed Food
Figure 20 Global Seafood Export, 2011–2016 (USD Million)
5.2.4 Challenges
5.2.4.1 Lack of Cold Chain Infrastructure in Developing Economies
6 Frozen Food Market, By Product
6.1 Introduction
Figure 21 Frozen Food Market Size, By Product, 2018 vs. 2023 (USD Billion)
Table 1 Frozen Food Market Size, By Product,2016–2023 (USD Billion)
6.2 Fruits & Vegetables
Table 2 Fruits & Vegetables: Frozen Food Market Size,By Region, 2016–2023 (USD Million)
6.2.1 Frozen Fruits
6.2.1.1 Frozen Fruits are Picked and Frozen the Same Day the Rate of Chemical Reaction Gets Reduced
Table 3 Frozen Fruits: Frozen Food Market Size, By Region, 2016–2023 (USD Million)
6.2.2 Frozen Vegetables
Table 4 Frozen Vegetables: Frozen Food Market Size, By Region, 2016–2023 (USD Million)
6.2.2.1 Frozen Potatoes
6.2.2.1.1 Frozen Potato Products Have Wide Acceptance in Developed Countries Such as the Us and the Countries in Western Europe
Table 5 Frozen Potatoes: Frozen Food Market Size, By Region, 2016–2023 (USD Million)
6.2.2.2 Other Vegetables
6.2.2.2.1 Frozen Vegetables are Majorly Used By Food Service Segments Such as Qsrs
Table 6 Other Vegetables: Frozen Food Market Size, By Region, 2016–2023 (USD Million)
6.3 Dairy Products
6.3.1 Ice Cream is Currently Dominating the Market Due to Its High Market Penetration and Increasing Consumption
Table 7 Dairy Products: Frozen Food Market Size, By Region, 2016–2023 (USD Million)
6.4 Bakery Products
Table 8 Bakery Products: Frozen Food Market Size, By Region, 2016–2023 (USD Million)
6.4.1 Breads and Pizza Crusts
6.4.1.1 Frozen Partially Baked Bread Requires A Shorter Preparation Time of About 20 Minutes
Table 9 Breads and Pizza Crusts: Frozen Food Market Size,By Region, 2016–2023 (USD Million)
6.4.2 Other Bakery Products
6.4.2.1 Frozen Bakery Products are Gaining Popularity Because They Have Extended Shelf-Life and Aid in the Production of Freshly Baked Products
Table 10 Other Bakery Products: Frozen Food Market Size, By Region, 2016–2023 (USD Million)
6.5 Meat & Seafood Products
6.5.1 Frozen Meat & Seafood Occupied About 24% of the Overall Frozen Food Market
Table 11 Meat & Seafood Products: Frozen Food Market Size, By Region, 2016–2023 (USD Million)
6.6 Convenience Foods & Ready Meals
6.6.1 Convenience Food & Ready Meals Segment is Projected to Grow at A Significant Rate Due to Changing Lifestyles and Increasing Globalization
Table 12 Convenience Foods & Ready Meals: Frozen Food Market Size, By Region, 2016–2023 (USD Million)
6.7 Others
6.7.1 Growth in Bakery and Convenience Food Segment is Expected to Propel the Demand for Other Frozen Food Products
Table 13 Others: Frozen Food Market Size, By Region, 2016–2023 (USD Million)
7 Frozen Food Market, By Type
7.1 Introduction
Figure 22 Frozen Food Market Size, By Type, 2018 vs. 2023 (USD Billion)
Table 14 Frozen Food Market Size, By Type, 2016–2023 (USD Billion)
7.2 Raw Material
Table 15 Raw Material: Frozen Food Market Size, By Region, 2016–2023 (USD Million)
7.3 Half-Cooked
Table 16 Half-Cooked: Frozen Food Market Size, By Region, 2016–2023 (USD Million)
7.4 Ready-To-Eat
Table 17 Ready-To-Eat: Frozen Food Market Size, By Region,2016–2023 (USD Million)
8 Frozen Food Market, By Consumption
8.1 Introduction
Figure 23 Frozen Food Market Size, By Consumption, 2018 vs. 2023 (USD Billion)
Table 18 Frozen Food Market Size, By Consumption, 2016–2023 (USD Billion)
8.2 Food Service
Table 19 Food Service: Frozen Food Market Size, By Region, 2016–2023 (USD Million)
8.3 Retail
Table 20 Retail: Frozen Food Market Size, By Region, 2016–2023 (USD Million)
9 Frozen Food Market, By Distribution Channel
9.1 Introduction
Table 21 Frozen Food Market Size, By Distribution Channel,2016–2023 (USD Billion)
9.2 Offline
Table 22 Offline: Frozen Food Market Size, By Region, 2016–2023 (USD Million)
9.3 Online
Table 23 Online: Frozen Food Market Size, By Region, 2016–2023 (USD Million)
10 Frozen Food Market, By Region
10.1 Introduction
Figure 24 Europe to Lead the Frozen Food Market By 2023 (USD Billion)
Table 24 Frozen Food Market Size, By Region, 2016–2023 (USD Billion)
10.2 North America
Figure 25 North American Market Snapshot
Table 25 North America: Frozen Food Market Size, By Country, 2016–2023 (USD Million)
Table 26 North America: Frozen Food Market Size, By Product, 2016–2023 (USD Million)
Table 27 North America: Frozen Food Market Size, By Type,2016–2023 (USD Million)
Table 28 North America: Frozen Food Market Size, By Consumption, 2016–2023 (USD Million)
Table 29 North America: Frozen Food Market Size, By Distribution Channel, 2016–2023 (USD Million)
10.2.1 US
10.2.1.1 The US Held the Largest Market Share in North America
Figure 26 Imported Frozen Sweet Corn in the US (USD Million)
Table 30 US: Frozen Food Market Size, By Product, 2016–2023 (USD Million)
10.2.2 Canada
10.2.2.1 Improvements in Processing and Packaging Technologies Boosting the Frozen Food Market in Canada
Table 31 Canada: Frozen Food Market Size, By Product, 2016–2023 (USD Million)
10.2.3 Mexico
10.2.3.1 Frozen Food Market in Mexico to Grow at the Highest Cagr in North America Due to the Increasing Demand for Convenience Food
Table 32 Mexico: Frozen Food Market Size, By Product, 2016–2023 (USD Million)
10.3 Europe
Figure 27 Top Eu Trading Partners in Export (2015)
Figure 28 Europe: Market Snapshot
Table 33 Europe: Frozen Food Market Size, By Country, 2016–2023 (USD Million)
Table 34 Europe: Frozen Food Market Size, By Product, 2016–2023 (USD Million)
Table 35 Europe: Frozen Food Market Size, By Type, 2016–2023 (USD Million)
Table 36 Europe: Frozen Food Market Size, By Consumption, 2016–2023 (USD Million)
Table 37 Europe: Frozen Food Market Size, By Distribution Channel, 2016–2023 (USD Million)
10.3.1 Germany
10.3.1.1 Germany Accounted for the Largest Share of the Frozen Food Market in the Region
Figure 29 Frozen Vegetables (Excluding Potato) Production in Germany (USD Million)
Table 38 Germany: Frozen Food Market Size, By Product, 2016–2023 (USD Million)
10.3.2 France
10.3.2.1 The Frozen Food Market is Witnessing Significant Growth, Due to the Increasing Inclination of Consumers Toward Ready Meals
Table 39 France: Frozen Food Market Size, By Product, 2016–2023 (USD Million)
10.3.3 UK
10.3.3.1 Convenience Food & Ready Meals Segment Accounted for the Largest Market Share in the UK
Table 40 UK: Frozen Food Market Size, By Product, 2016–2023 (USD Million)
10.3.4 Italy
10.3.4.1 Italy is One of the Largest Consumers of Ice Creams, Making It A Major Market for Frozen Food
Table 41 Italy: Frozen Food Market Size, By Product, 2016–2023 (USD Million)
10.3.5 Spain
10.3.5.1 Retailers are Focusing on Providing Quality, Convenience, and Value to the Customers
Table 42 Spain: Frozen Food Market Size, By Product, 2016–2023 (USD Million)
10.3.6 Rest of Europe
10.3.6.1 High Standards of Living and the Increasing Per Capita Consumption of Frozen Food are the Driving Factors for the Market Growth
Table 43 Rest of Europe: Frozen Food Market Size, By Product, 2016–2023 (USD Million)
10.4 Asia Pacific
Table 44 Asia Pacific: Frozen Food Market Size, By Country, 2016–2023 (USD Million)
Table 45 Asia Pacific: Frozen Food Market Size, By Product, 2016–2023 (USD Million)
Table 46 Asia Pacific: Frozen Food Market Size, By Type, 2016–2023 (USD Million)
Table 47 Asia Pacific: Frozen Food Market Size, By Distribution Channel, 2016–2023 (USD Million)
Table 48 Asia Pacific: Frozen Food Market Size, By Consumption, 2016–2023 (USD Million)
10.4.1 Australia & New Zealand
10.4.1.1 Increasing Acceptance Among Consumers for Half-Cooked Frozen Foods
Table 49 Australia & New Zealand: Frozen Food Market Size, By Product, 2016–2023 (USD Million)
10.4.2 China
10.4.2.1 Rising Acceptance of Western Cuisine and Food Habits
Figure 30 Value of Imports of Frozen, Chilled, and Fresh Pork Meat in China, 2013–2017 (USD Million)
Table 50 China: Frozen Food Market Size, By Product, 2016–2023 (USD Million)
10.4.3 India
10.4.3.1 Growing Processed Industry and Rapidly Increasing Youth Population
Table 51 India: Frozen Food Market Size, By Product, 2016–2023 (USD Million)
10.4.4 Japan
10.4.4.1 Strong Cold Chain Logistics Infrastructure
Figure 31 Frozen Food Production in Japan, 2013–2017 (Mt)
Table 52 Japan: Frozen Food Market Size, By Product, 2016–2023 (USD Million)
10.4.5 Rest of Asia Pacific
10.4.5.1 Rising Preference of Young Consumers for Convenient Eating and Increasing Number of Working Women
Table 53 Rest of Asia Pacific: Frozen Food Market Size, By Product, 2016–2023 (USD Million)
10.5 South America
Table 54 South America: Frozen Food Market Size, By Country, 2016–2023 (USD Million)
Table 55 South America: Frozen Food Market Size, By Product, 2016–2023 (USD Million)
Table 56 South America: Frozen Food Market Size, By Type, 2016–2023 (USD Million)
Table 57 South America: Frozen Food Market Size, By Consumption, 2016–2023 (USD Million)
Table 58 South America: Frozen Food Market Size, By Distribution Channel, 2016–2023 (USD Million)
10.5.1 Brazil
10.5.1.1 Rising Industrialization and Increasing Purchasing Power of Consumers Boost the Growth of the Frozen Food Market
Table 59 Brazil: Frozen Food Market Size, By Product, 2016–2023 (USD Million)
10.5.2 Rest of South America
10.5.2.1 Emergence of Supermarkets is A Major Driver for the Frozen Food Market in the Region
Table 60 Rest of South America: Frozen Food Market Size, By Product, 2016–2023 (USD Million)
10.6 Middle East & Africa
10.6.1 Shortage of Fresh Meat Due to Rising Consumption
Table 61 Gcc: Historical Total Volume Sales of Meat, By Country, 2012–2016 (Thousand Tonnes)
Table 62 Middle East & Africa: Frozen Food Market Size, By Product, 2016–2023 (USD Million)
Table 63 Middle East & Africa: Frozen Food Market Size, By Type, 2016–2023 (USD Million)
Table 64 Middle East & Africa: Frozen Food Market Size, By Consumption, 2016–2023 (USD Million)
Table 65 Middle East & Africa: Frozen Food Market Size, By Distribution Channel, 2016–2023 (USD Million)
11 Competitive Landscape
11.1 Overview
11.2 Competitive Leadership Mapping
11.2.1 Dynamic Differentiators
Figure 32 Competitive Leadership Mapping, 2017
Figure 33 Key Developments of the Leading Players in the Frozen Food Market, 2013–2018
11.3 Ranking of Key Players, 2018
Figure 34 Unilever Led the Frozen Food Market in 2018
11.4 Competitive Leadership Mapping (Start-Ups/Smes)
11.4.1 Progressive Companies
11.4.2 Starting Blocks
11.4.3 Responsive Companies
11.4.4 Dynamic Companies
Figure 35 Frozen Food Market Start-Ups: Competitive Leadership Mapping, 2017
11.5 Competitive Scenario
Figure 36 Market Evaluation Framework, 2016–2018
11.5.1 New Product Launches
Table 66 New Product Launches, 2013–2018
11.5.2 Expansions & Investments
Table 67 Expansions & Investments, 2013–2018
11.5.3 Acquisitions
Table 68 Acquisitions, 2013–2018
11.5.4 Partnerships, Joint Ventures, and Agreements
Table 69 Partnerships, Joint Ventures, and Agreements, 2013–2016
12 Company Profiles
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View)*
12.1 General Mills Inc.
Figure 37 General Mills Inc.: Company Snapshot
12.2 Conagra Brands, Inc.
Figure 38 Conagra Brands, Inc.: Company Snapshot
12.3 Grupo Bimbo S.A.B. De C.V.
Figure 39 Grupo Bimbo S.A.B. De C.V.: Company Snapshot
12.4 Nestle SA
Figure 40 Nestle SA: Company Snapshot
12.5 Unilever
Figure 41 Unilever: Company Snapshot
12.6 Kellogg Company
Figure 42 Kellogg Company: Company Snapshot
12.7 Mccain Foods Limited
12.8 The Kraft Heinz Company
Figure 43 The Kraft Heinz Company: Company Snapshot
12.9 Associated British Foods PLC
Figure 44 Associated British Foods PLC: Company Snapshot
12.10 Ajinomoto
Figure 45 Ajinomoto: Company Snapshot
12.11 Vandemoortele Nv
Figure 46 Vandemoortele Nv: Company Snapshot
12.12 Lantmannen Unibake International
Figure 47 Lantmannen Unibake International: Company Snapshot
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.
13 Appendix
13.1 Discussion Guide
13.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
13.3 Available Customizations
13.4 Related Reports
13.5 Author Details
The study involves four major activities to estimate the current market size of the frozen food market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. These findings, assumptions, and the market size was validated with industry experts across the value chain through primary research. Both the top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, the market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
In the secondary research process, various secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dun & Bradstreet were referred to, to identify and collect information for this study. These secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, gold standard & silver standard websites, food safety organizations, regulatory bodies, trade directories, and databases.
Primary Research
The global market comprises several stakeholders such as manufacturers; importers & exporters; traders; distributors; and suppliers of frozen food; food safety authorities; food technologists; food product manufacturers; raw material suppliers; and regulatory bodies such as the Food and Agriculture Organization (FAO), Environmental Protection Agency (EPA), the Food Safety Council (FSC), government and research organizations, trade associations, and industry bodies. The demand-side of this market is characterized by the rising awareness of shelf life extension among food product manufacturers. The supply-side is characterized by advancements in technology and diverse application industries. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Both the top-down and bottom-up approaches were used to estimate and validate the total size of the frozen food market. These methods were also used extensively to estimate the size of various sub-segments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry and markets were identified through extensive secondary research.
- The value chain and market size of the frozen food market, in terms of value, were determined through primary and secondary research.
- All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
- All possible parameters that affect the market covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
- The research included the study of reports, reviews, and newsletters of top market players, along with extensive interviews for key opinions from leaders such as CEOs, directors, and marketing executives.
Data Triangulation
After arriving at the overall market size from the estimation process described above, the total market was split into several segments. To complete the overall market engineering process and arrive at the exact statistics for all segments, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides. In addition, the market size was validated using both the top-down and bottom-up approaches. It was then verified through primary interviews. Hence, three approaches were adopted-top-down approach, bottom-up approach, and the one involving expert interviews. Only when the values arrived at from the three points match, the data is assumed to be correct.
Report Objectives
- To define, segment, and project the global market size for frozen food
- To understand the structure of the frozen food market by identifying its various subsegments
- To provide detailed information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
- To analyze the micromarkets, with respect to individual growth trends, future prospects, and their contributions to the total market
- To project the size of the market and its submarkets, in terms of value, with respect to regions (along with their respective key countries)
- To profile key players and comprehensively analyze their core competencies
- To understand the competitive landscape and identify major growth strategies adopted by players across key regions
- To analyze the competitive developments such as expansions & investments, new product launches, mergers & acquisitions, joint ventures, and agreements
Available Customizations
Based on the given market data, MarketsandMarkets offers customizations in the reports as per the client-specific requirements. The available customization options are as follows:
Product Analysis
- Product matrix, which gives a detailed comparison of the product portfolio of each company
Regional Analysis
- Further breakdown of the North American, European, Asia Pacific, South American, and the Middle East & African frozen food market
Company Information
- Detailed analysis and profiling of additional market players (up to five)
- Triangulate with your Own Data
- Get Data as per your Format and Definition
- Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
- Any level of Personalization
- What are the Known and Unknown Adjacencies Impacting the Frozen Food Market
- What will your New Revenue Sources be?
- Who will be your Top Customer; what will make them switch?
- Defend your Market Share or Win Competitors
- Get a Scorecard for Target Partners
Growth opportunities and latent adjacency in Frozen Food Market