Frozen Food Market Size 2022-2030 | Increasing Demand for Convenience Food is a Key Revenue-Driving Factor
According to the current analysis of Reports and Data, the global Frozen Food Market was valued at USD 250.0 Billion in 2021 and is expected to reach USD 383.78 Billion by year 2030, at a CAGR of 5.0%. They are preserved by a process of freezing and storing before cooking. It has a large market due to increased demand from the consumers. The freezing process helps to maintain the food in its original state till it is consumed. In this industry it involves two procedures for freezing, one is mechanical and the other one is cryogenic. The freezing process is required to safeguard the quality and its outer surface. The fast freezing helps to maintain the original cell structure of the food. Cryogenic freezing is one of the fastest process because it maintains the low fluid nitrogen temperature of around -196 degree Celsius.
The widespread adoption of frozen food amongst the consumers is its nutritious attribute. This items does not require any additional additives since microorganisms don’t develop when the temperature is beneath −9.5 °C (15 °F), which is adequate in anticipating the decay. There are few misconceptions about frozen food when compared with the packed foodstuff. The preservatives are present in packed items instead of frozen foods which are harmful to health. There are also misconceptions that freezing washes away the nutrients which is also another modern day myth. The freezing helps to cover the outer structure of the food which ultimately helps to preserve its nutrients. The rising preference for fresh and natural products is a restraining factor for this industry.
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Further key findings from the report suggest
- Frozen Food industry is expected to have a CAGR of 6% in Asia Pacific followed by Europe and North America respectively. The factors such as changing lifestyles and increasing population of society are driving the growth of industry.
- As of 2018, raw stage dominated the industry which holds 41.4% of the global market. Europe is the chief revenue generating source for this product segment, followed by Asia-Pacific and North America.
- Dairy Products is expected to be the fastest growing market segment during forecast period 2019-2026 with a CAGR of 3.5%. However, the sugar and fats content which are not healthy and difficulties faced in removing such content is one of the major challenge for the industry in this segment.
- The packaging must maintain its integrity throughout filling, sealing, freezing, storage, transportation, thawing, and often cooking. As many them are cooked in a microwave oven, manufacturers have developed packaging that can go straight from freezer to the microwave.
- Active packaging offers a host of new technologies that can actively sense and then neutralize the presence of bacteria or other harmful species. Active packaging can extend shelf-life, maintain product safety, and help preserve over a longer period of time.
- Others product type segment (that includes frozen potatoes, pizzas, snacks, ready to eat meals) was valued at USD 27.4 billion and is expected reach USD 39.05 billion by 2026
- North America is expected to account for the 28.4% of the industry. The rise in the health sector and the rise in the packaging sector especially in F&B segment is driving the growth in the US.
- The sodium content and starch content are found to be in more proportion which might have side effects that may hinder the market during the forecast period.
- Key participants includes – Nestle, ConAgra Foods Inc., Heinz, Mother Dairy, McCain Foods, Kellogg Company, Unilever, General Mills Inc., Venky’s, and Pinnacle Foods Inc.
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For the purpose of this report, Reports and Data has segmented the Frozen Food industry on the basis of processed product type, Product Type, Distribution Channel, End-Use
Processed Product Type (Revenue, USD Billion; 2019–2030)
- Frozen Fruits & Vegetables
- Frozen Meat & Fish
- Frozen Dairy Products
- Frozen Soups
Product Type (Revenue, USD Billion; 2019–2030)
- Raw Stage
Distribution Channel (Revenue, USD Billion; 2019–2030)
- Online Stores
- Specialist Retailers
- Convenience Stores
End Use (Revenue, USD Billion; 2019–2030)
- Retail Customers
- Service Providers
Regional Outlook (Revenue in USD Billion; 2019–2030)
- North America
- Rest of the Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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Key questions answered by the report
- What was the market size of global frozen food market in 2021?
- What is the expected revenue Compound Annual Growth Rate (CAGR) of global frozen food market over the forecast period?
- Which factors are expected to drive global frozen food market revenue growth?
- Which region is expected to account for largest revenue share in global frozen food market?
- Which are the key companies operating in the global market?
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