Frozen Foods Market

Frozen Foods Market by Product (Fruits & Vegetables, Dairy Products, Bakery Products, Meat and seafood Products, Plant-Based Protein, Convenience Food and ready Meals, Pet Food), Consumption, Type, Distribution Channel Region - Global Forecast to 2028

Report Code: FB 1049 Sep, 2023, by marketsandmarkets.com

[250 Pages Report] The global frozen foods market is projected to reach USD 363.7 billion by 2028 from USD 284.2 billion by 2023, at a CAGR of 5.1% during the forecast period in terms of value. One of the primary advantages is their longer shelf life compared to fresh alternatives. This quality significantly reduces food waste, a growing concern globally. Consumers can confidently stock up on frozen foods, knowing they won't spoil quickly, aligning with sustainability goals.

The proliferation of e-commerce has further propelled the frozen foods market. Online shopping platforms offer unparalleled convenience, allowing consumers to access and order frozen foods with ease. This digital accessibility has broadened the market's reach and made it simpler for individuals to incorporate frozen food products into their meal plans.

Globalization plays a pivotal role as well, with an extensive range of international cuisines available in frozen form. Consumers can now enjoy a diverse culinary experience from the comfort of their homes, adding excitement and variety to their diets.

Lastly, the perception of frozen foods as a safer option due to reduced contamination risk bolsters their demand. In an era where food safety is paramount, the frozen foods market benefits from this perceived advantage, further driving its growth and expansion.

Frozen Foods Market

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Frozen Foods Market

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Market Dynamics

Drivers: Rapid Growth in the Packaged Food & Beverage Drives Growth in the Frozen Foods Market

The rapid growth in the packaged food and beverage industry is significantly fueling the expansion of the frozen foods market. This synergy can be attributed to several key factors. Firstly, the packaged food and beverage sector is experiencing increasing demand due to changing consumer lifestyles and preferences. Convenience, portability, and longer shelf life are all characteristics that appeal to today's busy consumers.

Frozen foods align seamlessly with these trends, providing convenient, ready-to-eat or easy-to-prepare meal options. They offer a practical solution for individuals and families seeking quick, hassle-free dining choices in the packaged food realm.

Furthermore, the packaged food industry's robust distribution networks and marketing strategies make it easier for frozen food products to reach a broader consumer base. This collaborative growth strengthens both sectors, as they cater to evolving consumer needs for convenience and variety in their food choices.

Restraints: Rising Preference for Fresh and Natural Food Products

The escalating preference for fresh and natural food products is exerting a constraining effect on the growth of the frozen foods market. Consumers today are increasingly health-conscious and inclined towards choices perceived as less processed and more wholesome. This shift in preference is driven by the desire for higher nutritional value and fewer additives in their diets.

As a result, the frozen foods market faces the challenge of convincing health-conscious consumers that their products offer comparable nutritional benefits to fresh alternatives. Additionally, the perception that fresh foods are inherently healthier can deter potential consumers from exploring frozen options.

Moreover, the rising trend of farm-to-table and locally sourced produce further reinforces the preference for fresh foods, as consumers seek to connect with the source of their food and support local agriculture.

Opportunities: Rising disposable incomes in emerging economies, driving frozen foods segment

The expanding trade of processed foods presents a significant opportunity within the frozen foods market. As global trade networks continue to grow, the frozen foods industry stands to benefit in several ways. Firstly, increased international trade facilitates the exchange of a wide variety of processed foods, including frozen options. This enables consumers to access a diverse range of products from around the world, expanding their culinary horizons. Secondly, globalization supports the import and export of frozen food ingredients, allowing for cost-effective sourcing of raw materials. This can lead to more competitive pricing and increased profitability for frozen food manufacturers. Moreover, international trade encourages innovation and the development of new frozen food products to meet the tastes and preferences of different regions. This diversity in offerings can attract a broader consumer base and drive market growth.

Challenges: Lack of Cold Chain Infrastructure in Developing Countries

The lack of adequate cold chain infrastructure in developing countries poses a formidable challenge to the frozen foods market. Cold chain infrastructure, which includes temperature-controlled storage, transportation, and distribution facilities, is essential for maintaining the quality and safety of frozen food products. In many developing nations such as South Africa, and Kenya these critical components of the supply chain are underdeveloped or insufficient.

This deficiency hampers the frozen foods market in multiple ways. It can lead to temperature fluctuations during transportation and storage, resulting in quality degradation and potential food safety risks. Moreover, the limited cold chain infrastructure restricts the availability of frozen products in remote and underserved areas, limiting market penetration and growth potential.

Additionally, the cost of establishing and maintaining cold chain infrastructure is often high, posing financial challenges for both producers and distributors. Overall, addressing the cold chain infrastructure gap in developing countries is crucial to unlock the full growth potential of the frozen foods market in these regions.

Market Ecosystem

Frozen Foods Market

Based on type, the raw material segment is estimated to hold the largest market share during the forecast period of the frozen foods market.

Raw frozen food is poised to dominate the frozen food market due to its versatility and appeal to a wide range of consumers. This category encompasses an array of products, including fruits, vegetables, seafood, and meats, offering consumers the flexibility to create diverse and customized meals. Raw frozen foods retain their inherent nutritional value and flavor, often outperforming their cooked or processed counterparts. Furthermore, they cater to various dietary preferences, such as vegan, paleo, and gluten-free diets, making them inclusive and adaptable. In an era where health consciousness and convenience intersect, raw frozen foods align perfectly, allowing consumers to prepare fresh, wholesome meals with minimal effort. This appeal is driving their popularity, ensuring that raw frozen food remains the largest share of the frozen food market.

Based on consumption, the retail segment is anticipated to witness the highest growth in the frozen foods market.

The COVID-19 pandemic has accelerated the trend of consumers stocking up on frozen essentials due to their longer shelf life, providing a boost to the retail frozen food segment. Additionally, as consumers become more health-conscious,  frozen foods are evolving to offer a wider range of healthier options, including organic and low-calorie choices, further appealing to a health-focused demographic.

Furthermore, retail channels provide a convenient and accessible distribution network, making it easier for consumers to purchase frozen foods. With the ongoing expansion of e-commerce and online grocery shopping, retail frozen foods are well-positioned to capture a significant share of the market as they cater to the evolving preferences and needs of today's consumers.

Based on the distribution channel, the online segment is projected to experience the highest growth during the forecast period of the frozen foods market.

The online distribution channel is poised to experience the fastest growth in the frozen food market due to a confluence of factors. Firstly, the digital transformation of the retail landscape has seen an exponential increase in e-commerce and online grocery shopping, driven by changing consumer preferences and convenience. This shift has been further accelerated by the COVID-19 pandemic, which prompted many consumers to turn to online platforms for their shopping needs, including frozen foods.

Secondly, online channels offer a wider variety and selection of frozen food products compared to brick-and-mortar stores, catering to diverse dietary preferences, including vegan, gluten-free, and organic options. This variety attracts a broader customer base, appealing to health-conscious and adventurous consumers.

Moreover, the ease of doorstep delivery and the ability to compare prices and products online makes it an attractive option for time-pressed consumers. As technology continues to advance and online platforms become more user-friendly, the online distribution channel is primed for rapid growth in the frozen food market, providing unparalleled convenience and accessibility for consumers.

Europe Holds the Largest Share of the Frozen Foods Market

Europe is a major hub for frozen vegetable consumption, driven by busy lifestyles and a growing demand for affordable, nutritious, and convenient food options. Rising incomes and changing dietary preferences are propelling this market, with consumers shifting towards plant-based diets. Key opportunities for vegetable suppliers are found in countries like Germany, France, Belgium, Italy, and the Netherlands. Public awareness of the superior nutritional value of frozen vegetables over fresh and refrigerated ones is boosting demand, especially among younger generations.

According to the European Ministry of Foreign affairs, in  2021, Europe imported €3 billion worth of frozen vegetables, totaling 2.8 million tonnes, with 91% coming from within Europe and only 9% from developing nations. Europe's status as a major global frozen vegetable producer drives this predominantly internal trade. Germany, with a 20% market share, leads European imports, followed by France (18%) and Belgium (14%). These countries, particularly Germany and France, are crucial focus markets. Belgium, while a major producer and exporter, sources certain vegetable varieties from other nations. Italy, the Netherlands, Spain, and Sweden also rank among the top European markets.

Germany, ranked as the world's third-largest frozen vegetable importer (after the United States and Japan), holds the top spot in Europe. In 2021, 90% of Germany's frozen vegetable imports came from fellow European nations, with 10% originating from developing countries. This robust import activity within Europe contributes significantly to the growth of the European frozen foods market.

Contract catering, in which an external organization outsources catering services to a specialized company through a contractual arrangement, is becoming increasingly popular among businesses, public authorities, childcare centers, educational institutions, healthcare facilities, and correctional facilities in Europe. According to Food Service Europe, the contract catering industry boasts an annual turnover exceeding USD 26.59 billion, with substantial growth potential since, on average, only 35% of European firms or collective organizations providing social food services have contracts with catering companies.

The growing trend of dining outside the home is driving the expansion of contract catering to encompass a broader range of venues and events than ever before. This includes services at sporting events, museums, train stations, airports, and more. These organizations often rely on their contracted caterers not only to provide food but also to establish a unique style, atmosphere, and image for their customers.

This trend in contract catering is anticipated to have a  positive impact on the European frozen foods market. With more venues and events seeking catering services, there is an increased demand for a diverse range of food options, including frozen foods. Contract caterers opt for frozen food solutions to efficiently meet this demand, as frozen foods offer convenience, longer shelf life, and the ability to cater to a wide range of tastes and preferences. As a result, the European frozen foods market stands to benefit from the growth of the contract catering sector as it continues to expand its reach and services.

Frozen Foods Market Size, and Share

Key Market Players

The key players in this market include General Mills Inc. (US), Nestlé (Switzerland), Unilever (Netherlands), McCain Foods Limited (Canada), Conagra Brands, Inc. (US), Kellogg's Company (US), Grupo Bimbo (Mexico), and The Kraft Heinz Company (US)

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Scope of the Report

Report Metric

Details

Market size estimation

2023–2028

Base year considered

2022

Forecast period considered

2023–2028

Units considered

Value (USD)

Segments Covered

By Product, Type, Consumption, Distribution Channel, Freezing technique, and Region

Regions covered

North America, Europe, Asia Pacific, Central & South America, and RoW

Companies studied

  • General Mills Inc. (US)
  • Conagra Brands, Inc. (US)
  • GRUPO BIMBO (Mexico)
  • Nestle (Switzerland)
  • Unilever (UK)
  • Kellogg Co. (US)
  • McCain Foods Limited (Canada)
  • The Kraft Heinz Company (US)
  • Associated British Foods plc (UK)
  • Ajinomoto Co. Inc. (Japan)
  • Vandemoortele (Belgium)
  • Lantmannen Unibake (Denmark)
  • Cargill, Incorporated (US)
  • Europastry (Spain)
  • JBS Foods (Brazil)
  • Kidfresh (US)
  • Aryzta.com (US)
  • Shishi He Deming Seafood Co Ltd (China)
  • OOB Organic (New Zealand)
  • Omar International Pvt Ltd (India)

This research report categorizes the frozen food market based on Product, Type, Consumption, Distribution Channel, Freezing technique, and Region.

Target Audience

  • Frozen food producers, suppliers, distributors, importers, and exporters
  • Large-scale frozen food manufacturers and research organizations
  • Related government authorities, commercial research & development (R&D) institutions, FDA, EFSA, USDA, FSANZ, EUFIC government agencies & NGOs, and other regulatory bodies
  • Food product consumers
  • Regulatory bodies, including government agencies and NGOs.
  • Commercial research & development (R&D) institutions and financial institutions
  • Government and research organizations

Frozen Food Market:

By Product
  • Fruits & Vegetables
    • Frozen Fruits
    • Berries
    • Mango Chunks
    • Others
    • Vegetables
    • Cauliflower
    • Broccoli
    • Bell Pepper
    • Carrot
    • Beans
    • Mushroom
    • Avocado
    • Corn
    • Others
    • Frozen Potatoes
    • French Fries
    • Other processed potato products such as Hash Brown, Etc
  • Dairy Products
  • Bakery Products
    • Proofed
    • Fully Baked
  • Meat & Seafood Products
    • Poultry
      • Raw (Secondary Processing)
      • Pre/Half Cooked (Further Processing)
      • Fully Cooked/Ready to Eat (Further Processing)
    • Red Meat
      • Raw (Secondary Processing)
      • Pre/Half cooked (Further Processing)
      • Fully Cooked/Ready to Eat (Further Processing)
    • Fish/Seafood
      • Raw (Secondary Processing)
      • Pre/Half Cooked (Further Processing)
      • Fully Cooked/Ready to Eat (Further Processing)
  • Plant-based protein
      • Pre/Half Cooked (Further Processing)
      • Fully Cooked/Ready to Eat (Further Processing)
  • Convenience Food & Ready Meals
  • Pet Food
  • Other Products
By Consumption
  • Food Service
  • Retail
By Type
  • Raw Material
  • Half-cooked
  • Ready-to-Eat
By Distribution Channel
  • Online
  • Offline
By Freezing Technique
  • Individual Quick Freezing (IQF)
  • Blast Freezing
  • Belt Freezing
By Region:
  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Rest of the World (RoW)

Recent Developments

  • In April 2023, Nestlé and the private equity firm PAI Partners came to an agreement to establish a joint venture focused on Nestlé's frozen pizza business in Europe. This move aimed to create a specialized player in a highly competitive and constantly evolving market segment. In this joint venture, Nestlé would maintain a minority stake, ensuring equal voting rights in partnership with PAI Partners.
  • In March 2023, McCain Foods, the global leader in frozen potato products manufacturing, made a significant announcement of a substantial investment totaling USD 438.4 million. This investment is directed towards the expansion and doubling in size of its potato processing plant located in Coaldale, Alberta. This strategic move is expected to foster continued growth for the company, strengthening its ability to cater to key markets.
  • In January 2022, Unilever, the largest ice cream company globally, introduced its new portfolio offerings for the year 2022. These offerings spanned across four of its prominent packaged ice cream and frozen novelty brands, namely Breyers, Klondike, Magnum ice cream, and Talenti Gelato & Sorbetto. This strategic move reflected Unilever's commitment to innovation and meeting consumer preferences by continuously refreshing its product lines and expanding its portfolio.

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TABLE OF CONTENTS
 
1 INTRODUCTION 
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
    1.3 STUDY SCOPE 
           1.3.1 MARKET SEGMENTATION
           1.3.2 INCLUSIONS & EXCLUSIONS
           1.3.3 REGIONS COVERED
           1.3.4 YEARS CONSIDERED
    1.4 UNIT CONSIDERED 
           1.4.1 CURRENCY/ VALUE UNIT
           1.4.2 VOLUME UNIT CONSIDERED
    1.5 STAKEHOLDERS 
    1.6 SUMMARY OF CHANGES 
           1.6.1 RECESSION IMPACT
 
2 RESEARCH METHODOLOGY 
    2.1 RESEARCH DATA 
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key Data from Secondary Sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key Data from Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primary Interviews
    2.2 MARKET SIZE ESTIMATION 
           2.2.1 BOTTOM-UP APPROACH
           2.2.2 TOP-DOWN APPROACH
    2.3 DATA TRIANGULATION 
    2.4 RESEARCH ASSUMPTIONS 
           2.4.1 ASSUMPTIONS OF THE STUDY
    2.5 LIMITATIONS AND RISK ASSESSMENT 
    2.6 RECESSION IMPACT ANALYSIS 
           2.6.1 RECESSION MACROINDICATORS
 
3 EXECUTIVE SUMMARY 
 
4 PREMIUM INSIGHTS 
 
5 MARKET OVERVIEW 
    5.1 INTRODUCTION 
    5.2 MACROECONOMIC INDICATORS 
    5.3 MARKET DYNAMICS 
           5.3.1  DRIVERS
           5.3.2  RESTRAINTS
           5.3.3  OPPORTUNITIES
           5.3.4  CHALLENGES
 
6 INDUSTRY TRENDS 
    6.1 INTRODUCTION 
    6.2 VALUE CHAIN ANALYSIS 
    6.3 SUPPLY CHAIN ANALYSIS 
    6.4 TECHNOLOGY ANALYSIS 
           6.4.1 TECHNOLOGY ANALYSIS 1
           6.4.2 TECHNOLOGY ANALYSIS 2
    6.5 PATENT ANALYSIS 
           6.5.1 LIST OF MAJOR PATENTS PERTAINING TO THE MARKET
    6.6 ECOSYSTEM AND MARKET MAP 
           6.6.1 DEMAND SIDE
           6.6.2 SUPPLY SIDE
    6.7 TRADE ANALYSIS 
    6.8 PRICING ANALYSIS 
           6.8.1  AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY TYPE
           6.8.3  AVERAGE SELLING PRICE TREND, BY REGION
    6.9 TRENDS/ DISRUPTION IMPACTING THE CUSTOMER’S BUSINESS 
    6.10 KEY CONFERENCES & EVENTS, 2023–2024 
    6.11 TARIFF AND REGULATORY LANDSCAPE 
           6.11.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
           6.11.2 REGULATORY LANDSCAPE
    6.12 CASE STUDY ANALYSIS 
    6.13 PORTER’S FIVE FORCES ANALYSIS 
           6.13.1 INTENSITY OF COMPETITIVE RIVALRY
           6.13.2 THREAT OF NEW ENTRANTS
           6.13.3 THREAT OF SUBSTITUTES
           6.13.4 BARGAINING POWER OF SUPPLIERS
           6.13.5 BARGAINING POWER OF BUYERS
    6.14 KEY STAKEHOLDERS & BUYING CRITERIA 
           6.14.1 KEY STAKEHOLDERS IN THE BUYING PROCESS
           6.14.2 BUYING CRITERIA
 
7 FROZEN FOOD MARKET, BY PRODUCT 
    7.1. INTRODUCTION 
    7.2. FRUITS & VEGETABLES  
           7.2.1. FROZEN FRUITS 
                    7.2.1.1. BERRIES 
                    7.2.1.2. MANGO CHUNKS
                    7.2.1.3. OTHERS 
           7.2.2. VEGETABLES 
                    7.2.2.1. FROZEN PEAS
                    7.2.2.2. CAULIFLOWER 
                    7.2.2.3. BROCCOLI
                    7.2.2.4. BELL PEPPER
                    7.2.2.5. CARROT
                    7.2.2.6. BEANS 
                    7.2.2.7. MUSHROOM 
                    7.2.2.8. AVOCADO 
                    7.2.2.9. CORN
                               7.2.2.10. OTHERS 
           7.2.3. FROZEN POTATOES
                    7.2.3.1. FRENCH FRIES 
                    7.2.3.2. OTHER PROCESSED POTATO PRODUCTS SUCH AS HASH BROWN ETC
    7.3. DAIRY PRODUCTS 
    7.4. BAKERY PRODUCTS  
           7.4.1. PROOFED
           7.4.2. FULLY BAKED
    7.5. MEAT & SEAFOOD PRODUCTS  
           7.5.1. POULTRY
                    7.5.1.1. RAW (SECONDARY PROCESSING)
                    7.5.1.2. PRE/HALF COOKED (FURTHER PROCESSING)
                    7.5.1.3. FULLY COOKED / READY TO EAT (FURTHER PROCESSING)
           7.5.2. RED MEAT
                    7.5.2.1. RAW (SECONDARY PROCESSING)
                    7.5.2.2. PRE/HALF COOKED (FURTHER PROCESSING)
                    7.5.2.3. FULLY COOKED / READY TO EAT (FURTHER PROCESSING)
           7.5.3. FISH / SEAFOOD
                    7.5.3.1. RAW (SECONDARY PROCESSING)
                    7.5.3.2. PRE/HALF COOKED (FURTHER PROCESSING)
                    7.5.3.3. FULLY COOKED / READY TO EAT (FURTHER PROCESSING)
    7.6. PLANT-BASED PROTEIN 
           7.6.1. PRE/HALF COOKED (FURTHER PROCESSING)
           7.6.2. FULLY COOKED / READY TO EAT (FURTHER PROCESSING)
    7.7. CONVENIENCE FOOD & READY MEALS  
    7.8. PET FOOD  
    7.9. OTHER PRODUCTS  
 
8 FROZEN FOOD MARKET, BY CONSUMPTION 
    8.1 INTRODUCTION  
    8.2 FOOD SERVICE 
    8.3 RETAIL 
 
9 FROZEN FOOD MARKET, BY TYPE 
    9.1 INTRODUCTION  
    9.2 RAW MATERIAL 
    9.3 HALF-COOKED 
    9.3 READY-TO-EAT 
 
10 FROZEN FOOD MARKET, BY DISTRIBUTION CHANNEL 
     10.1 INTRODUCTION 
     10.2 ONLINE 
     10.3 OFFLINE 
 
11 FROZEN FOOD MARKET, BY FREEZING TECHNIQUE 
     11.1 INTRODUCTION 
     11.2  INDIVIDUAL QUICK FREEZING (IQF) 
     11.3 BLAST FREEZING 
     11.4 BELT FREEZING 
 
12 FROZEN FOOD MARKET, BY REGION 
     12.2 NORTH AMERICA 
             12.1.1 RECESSION IMPACT ANALYSIS
             12.1.2 US
             12.1.3 CANADA
             12.1.4 MEXICO
     12.3 EUROPE 
             12.2.1 RECESSION IMPACT ANALYSIS
             12.2.2 UK
             12.2.3 GERMANY
             12.2.4 ITALY
             12.2.5 FRANCE
             12.2.6 SPAIN
             12.2.7 RUSSIA
             12.2.8 REST OF EUROPE
     12.4 ASIA PACIFIC 
             12.3.1 RECESSION IMPACT ANALYSIS
             12.2.2 CHINA
             12.3.3 JAPAN
             12.3.4 INDIA
             12.3.5 AUSTRALIA & NEW ZEALAND
             12.3.6 REST OF ASIA PACIFIC
     12.5 CENTRAL & SOUTH AMERICA 
             12.5.1 RECESSION IMPACT ANALYSIS
             12.5.2 BRAZIL
             12.5.3 OTHERS
     12.6 REST OF THE WORLD 
             12.5.1 RECESSION IMPACT ANALYSIS
             12.5.2 AFRICA
             12.5.3 MIDDLE EAST
 
13 COMPETITIVE LANDSCAPE 
     13.1 OVERVIEW 
     13.2 MARKET SHARE ANALYSIS 
     13.3 KEY PLAYERS STRATEGIES/RIGHT TO WIN 
     13.4 REVENUE ANALYSIS OF KEY PLAYERS 
     13.5 KEY PLAYER ANNUAL REVENUE VS GROWTH 
     13.6 KEY PLAYER EBIT/EBITDA 
     13.7 GLOBAL SNAPSHOT OF KEY MARKET PARTICIPANTS 
     13.8 COMPANY EVALUATION MATRIX (KEY PLAYERS) 
             13.8.1 STARS
             13.8.2 EMERGING LEADERS
             13.8.3 PERVASIVE PLAYERS
             13.8.4 PARTICIPANTS
             13.8.5 COMPANY FOOTPRINT
     13.10 START-UP/ SME EVALUATION MATRIX 
               13.10.1 PROGRESSIVE COMPANIES
               13.10.2 RESPONSIVE COMPANIES
               13.10.3 DYNAMIC COMPANIES
               13.10.4 STARTING BLOCKS
               13.10.5 COMPETITIVE BENCHMARKING 
     13.11 COMPETITIVE SCENARIO 
               13.11.1 PRODUCT LAUNCHES
               13.11.2 DEALS
               13.11.3 OTHERS
 
14 COMPANY PROFILES  
     14.1 KEY PLAYERS 
               14.1.1. GENERAL MILLS INC (US)
               14.1.2. CONAGRA BRANDS, INC. (US)
               14.1.3. GRUPO BIMBO S.A.B. DE C.V. (MEXICO)
               14.1.4. NESTLE SA (SWITZERLAND)
               14.1.5. UNILEVER (NETHERLANDS)
               14.1.6. KELLOGG COMPANY (US)
               14.1.7. MCCAIN FOODS LIMITED (CANADA)
               14.1.8. KRAFT HEINZ COMPANY (US)
               14.1.9. ASSOCIATED BRITISH FOODS PLC (UK)
                       14.1.10. AJINOMOTO (JAPAN)
                       14.1.11. VANDEMOORTELE NV (BELGIUM)
                       14.1.12. LANTMANNEN UNIBAKE INTERNATIONAL (DENMARK)
                       14.1.13. CARGILL (US),
                       14.1.14. JBS (BRAZIL) 
                       14.1.15. ARYZTA (US)
     14.2 OTHER PLAYERS/ STARTUPS/SMES 
               14.2.1. KIDFRESH (US)
               14.2.2. EUROPASTRY S.A. (SPAIN)
               14.2.3. KUPPIES (INDIA)
               14.2.4. OOB ORGANICS (NEW ZEALAND)
               14.2.5. OMAR INTERNATIONAL PVT LTD (INDIA)
               14.2.6. BUBBA FOODS (US)
               14.2.7. SHISHI HE DEMING (CHINA)
               14.2.8. AND SMART PRICE SALES & MARKETING (US)
               14.2.9. CHEVON AGROTECH PVT LTD (INDIA)
 
16 ADJACENT & RELATED MARKETS 
 
17 APPENDIX 
     17.1 DISCUSSION GUIDE 
     17.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     17.3 AVAILABLE CUSTOMIZATIONS 
     17.4 RELATED REPORTS 
     17.5 AUTHOR DETAILS 

The study involved four major activities in estimating the current size of the frozen food market. Exhaustive secondary research was done to collect information on the market, peer, and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

This research study involved the extensive use of secondary sources—directories and databases such as Bloomberg Businessweek and Factiva—to identify and collect information useful for a technical, market-oriented, and commercial study of the frozen food market.

In the secondary research process, various sources such as annual reports, press releases & investor presentations of companies, white papers, food journals, certified publications, articles from recognized authors, gold & silver standard websites, directories, and databases, were referred to identify and collect information. This research study involved the extensive use of secondary sources—directories and databases such as Bloomberg Businessweek and Factiva—to identify and collect information useful for a technical, market-oriented, and commercial study of the frozen food market.

Secondary research was mainly used to obtain key information about the industry’s supply chain, the total pool of key players, and market classification and segmentation as per the industry trends to the bottom-most level, regional markets, and key developments from both market- and technology-oriented perspectives.

Primary Research

Extensive primary research was conducted after obtaining information regarding the frozen food market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand and supply sides across major countries of North America, Europe, Asia Pacific, South America, and the Rest of the World. Primary data was collected through questionnaires, emails, and telephonic interviews. The primary sources from the supply side included various industry experts, such as Chief X Officers (CXOs), Vice Presidents (VPs), Directors, from business development, marketing, research, and development teams, and related key executives from distributors, and key opinion leaders. Primary interviews were conducted to gather insights such as market statistics, data on revenue collected from the products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also helped in understanding the various trends related to types of frozen food, type, product, consumption, distribution channel, freezing technique, and region. Stakeholders from the demand side, such as food and beverage companies and health and personal care companies who are using frozen food were interviewed to understand the buyer’s perspective on the suppliers, products, and their current usage of frozen food and outlook of their business which will affect the overall market.

Frozen Foods Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure


COMPANY NAME

designation

General Mills Inc. (US)

General Manager

Conagra Brands, Inc. (US)

Sales Manager

GRUPO BIMBO (Mexico City)

Director

Nestle (Switzerland)

Individual Industry Expert

Givaudan (Switzerland)

Marketing Manager

Unilever (UK)

Sales Executive

Kellogg Co. (US)

Sales Manager

McCain Foods Limited (Canada)

Individual Industry Expert

The Kraft Heinz Company (US)

Manager

Cargill, Incorporated (US)

Individual Industry Expert

Frozen Foods 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 approaches were also used extensively to determine the size of various subsegments in the market. The research methodology used to estimate the market size includes the following details:

  • The key players in the industry and the overall markets were identified through extensive secondary research.
  • The revenues of the major frozen food players were determined through primary and secondary research, which were used as the basis for market sizing and estimation.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
  • All macroeconomic and microeconomic factors affecting the growth of the frozen food market were considered while estimating the market size.
  • 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 final quantitative and qualitative data.

Global Frozen Foods Market: Bottom-Up Approach

Frozen Foods Market Size, and Share

To know about the assumptions considered for the study, Request for Free Sample Report

Global Frozen Food Market: Top-Down Approach

Frozen Foods Market Size, and Share

Data Triangulation

After arriving at the overall size from the market size estimation process explained above, the total market was split into several segments and subsegments. The data triangulation and market breakdown procedures explained below were implemented, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for various market segments and subsegments. The data was triangulated by studying various factors and trends from the demand and supply sides. Along with this, the market size was validated using both the top-down and bottom-up approaches.

Market Definition

The frozen food market refers to the segment of the food industry that involves the production, distribution, and sale of food products that have been preserved through freezing. These products are typically prepared and packaged while frozen and can include a wide range of items such as fruits, vegetables, meats, seafood, ready-to-eat meals, baked goods, and more. The market encompasses both retail and food service sectors, serving consumers who seek convenient, long-lasting, and often nutritious food options that can be stored in a frozen state until ready for consumption. The frozen food market is influenced by factors such as changing consumer lifestyles, the desire for convenience, advancements in freezing and packaging technologies, health and wellness trends, and environmental concerns related to food preservation and waste reduction.

Key Stakeholders

  • Government regulatory authorities and research bodies
  • Frozen food manufacturers
  • Raw material suppliers
  • Distributors & suppliers
  • Importers & exporters of frozen food
  • Traders of frozen food
  • End-use industries
  • Industry associations

Report Objectives

  • Determining and projecting the size of the frozen food market, with respect to type, product, consumption, distribution channel, freezing technique,  and regions, over five years, ranging from 2023 to 2028
  • Identifying the attractive opportunities in the market by determining the largest and fastest-growing segments across regions
  • Providing detailed information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
  • Analyzing the micro-markets with respect to individual growth trends, prospects, and their contribution to the total market
  • Impact of macro- and microeconomic factors on the market
  • Impact of recession on the global frozen food market
  • Shifts in demand patterns across different subsegments and regions.
  • Identifying and profiling the key market players in the frozen food market
  • Understanding the competitive landscape and identifying the major growth strategies adopted by players across the key regions.

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to company-specific scientific needs.

The following customization options are available for the report:

Product Analysis

  • Product Matrix, which gives a detailed comparison of the product portfolio of each company.

Geographic Analysis

With the given market data, MarketsandMarkets offers customizations according to company-specific scientific needs.

  • Further breakdown of the Rest of Europe into the Netherlands, Poland, Belgium, Sweden, and other EU & non-EU countries
  • Further breakdown of the Rest of Asia Pacific into Indonesia, Malaysia, Thailand, the Philippines, Singapore, and Vietnam.
  • Further breakdown of the Rest of the World into Middle East and Africa.

Company Information

  • Detailed analyses and profiling of additional market players (up to five)
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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Report Code
FB 1049
Published ON
Sep, 2023
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