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3. Conagra Brands, Inc. (US), GRUPO BIMBO (Mexico City) and Nestle (Switzerland) are leading players in Frozen Food Market

The market for frozen food is estimated at USD 284.2  billion in 2023; it is projected to grow at a CAGR of 5.1% to reach USD 363.7 billion by 2028. The changing consumer lifestyles and busier schedules have increased the demand for convenient meal options, and frozen foods provide a quick and easy solution. Advancements in freezing and packaging technologies have improved the quality and shelf life of frozen products, making them more appealing to consumers. Additionally, concerns about food waste and the desire for longer-lasting food items have contributed to the popularity of frozen foods. The expanding variety of healthier frozen options, such as fruits, vegetables, and organic products, aligns with the growing emphasis on health and wellness, further driving the growth of the frozen food market.

Major manufacturers in this market are based in Europe, North America, and Asia Pacific. General Mills Inc. (US), Conagra Brands, Inc. (US), GRUPO BIMBO (Mexico City), Nestle (Switzerland), Unilever (UK), Kellogg Co. (US), McCain Foods Limited (Canada), and The Kraft Heinz Company (US) are among a few leading players operating in the frozen food market. These players have adopted various growth strategies to strengthen acquisitions and new product development activities to further expand their frozen food market presence.

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Conagra Brands, Inc.

Conagra Brands, Inc. stands as a prominent player in the North American packaged food industry, boasting a robust portfolio of branded and private-label food products. The company's influence extends to the commercial food sector, serving restaurants and global food service operations. Conagra's business segments encompass grocery and snacks, refrigerated & frozen, food service, and international operations, spanning approximately 50 locations worldwide.

Noteworthy brands under Conagra's umbrella include Birds Eye, Duncan Hines, Healthy Choice, Marie Callender's, Reddi-Wip, Slim Jim, and emerging brands such as Angie's, BOOMCHICKAPOP, Duke's, Earth Balance, Gardein, and Frontera. The company's strategic focus centers on bolstering profitability, primarily through the rapid expansion of both branded and private label portfolios, achieved via relentless innovation. Conagra responds to consumer preferences by developing clean-label, nutritious products that cater to evolving tastes and demands.

Conagra's subsidiaries, including Pinnacle Foods, Ralcorp Holdings, Inc., Blake's All Natural Foods, and Frontera Foods, further strengthen its market presence. In a competitive landscape, Conagra competes with key industry rivals such as General Mills, The Kraft Heinz Company, and Kellogg. With a comprehensive product portfolio and a focus on innovation and efficiency, Conagra Brands, Inc. maintains its stature as a major player in the food industry.

In July 2023,  Conagra Brands, Inc. launched a product under the Birds Eye brand. Birds Eye is revolutionizing the frozen vegetable market by offering not only the convenience and nutritional benefits of frozen veggies but also introducing an impressive level of innovation—three times more than competitors in the past three years. The latest products mentioned go beyond the conventional role of vegetables as a side dish and can now be relished as appetizers, snacks, versatile side dishes, or meal enhancements.

GRUPO BIMBO

GRUPO BIMBO is a multinational baking company with a strong global presence. Specializing in the development, production, and marketing of bakery products, the company operates in 32 countries across the Americas, Europe, and Asia. Grupo Bimbo's product portfolio encompasses seven distinct categories, including packed bread, sweet baked goods, cookies, salty snacks, solutions, pre-packaged foods, and confectionery. Their bakery products range from bread and rolls to sweet baked goods, tortillas, snacks, confectionery, and corn-based products.

GRUPO BIMBO markets an array of well-recognized brands, including Bimbo, Lara, Barcel, Marinela, Ricolino, Coronado, Suandy, Tia Rosa, Clever, Chocolates La Corona, El Globo, Lonchibon, Milpa Real, and Del Hogar. The company boasts an extensive production network, with 83 plants in North America, 38 in Mexico, 33 in Latin America, 24 in Europe, 14 in Asia, and 5 in Africa.

With a vast distribution network comprising more than 58,000 routes, GRUPO BIMBO effectively reaches consumers worldwide. Their diverse product portfolio spans over 100 brands, solidifying their position as a global leader in the baking industry.

The company's subsidiaries further contribute to its global reach and operational excellence. Notable subsidiaries include Barcel (Mexico), Panrico, SAU (Spain), East Balt Bakeries (US), Bakery Donuts Portugal, LDA (Portugal), and Manhattan Group (China). In the competitive landscape of the baking industry, GRUPO BIMBO's extensive international footprint and diverse product offerings position it as a significant player with a strong global presence.

In October 2022, GRUPO BIMBO acquired St. Pierre Groupe which is a United Kingdom-based baker of premium brioche-style products with a growing presence in the United States. This acquisition will help to grow the business of the company as it offers a good product line for frozen bakery products.

NESTLE

Nestle is a global food and beverage giant that commands a vast portfolio of over 2,000 brands. In addition to its core food and beverage operations, Nestle is engaged in the pharmaceutical sector. The company's product range spans beverages, dairy-based items, ice creams, prepared dishes, and pharmaceutical products. With a truly international footprint, Nestle's presence spans across Europe, the Americas, Asia, Oceania, and Africa. It primarily conducts its operations through an extensive network of subsidiaries and boasts an impressive 29 research and development facilities worldwide. Nestle's products reach consumers in 189 countries, supported by manufacturing facilities in 85 countries.

The company is organized into seven major business segments, encompassing Powdered and liquid beverages, milk products and ice cream, Nutrition, and healthcare, Prepared dishes and cooking aids, Confectionery, Water, and Petcare. Nestle's extensive subsidiary portfolio includes well-known names like Nespresso (Switzerland), Gerber Products Company (US), Galderma SA. (Switzerland), Nestlé Waters (France), Chocolates Garoto S.A. (Brazil), and Svitoch (Ukraine). In the competitive landscape, key rivals include Lantmannen Unibake (Denmark), Associated British Foods Pic (UK), and Unilever (Netherlands). Nestle SA's global stature and diverse offerings position it as a major player in the food and beverage industry.

In April 2023, Nestle and private equity firm PAI Partners formed a joint venture to oversee Nestlé's frozen pizza businesses in Europe. The company's headquarters will be located in Germany, with operational facilities in Nonnweiler, Germany, and Benevento, Italy. The completion of this transaction is anticipated in the second half of 2023, pending regulatory approval. While this venture will exclusively cover Nestlé's European presence, its North American pizza endeavors will continue independently. Nestlé aims to maximize the potential of its European pizza business through this partnership, emphasizing its ongoing commitment to the industry's growth and delivering top-quality pizza options for consumers and retail partners.

Related Reports:

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

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