Frozen Food Market Size & Share Analysis - Industry Research Report - Growth Trends (2024)

The Global Frozen Food Market Report is Segmented by Product Category (Ready-To-Eat and Ready-To-Cook), Product Type (Frozen Fruits and Vegetables, Frozen Meat and Fish, Frozen-Cooked Ready Meals, Frozen Desserts, Frozen Snacks, and Other Product Types), Distribution Channels (HoReCa and Retail), and Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The Report Offers Market Size and Values in (USD) During the Forecast Period for the Above Segments.

Frozen Food Market Analysis

The Frozen Food Market size is estimated at USD 453.99 billion in 2024, and is expected to reach USD 555.74 billion by 2029, growing at a CAGR of 4.13% during the forecast period (2024-2029).

The market is primarily driven by rising disposable income, the introduction of longer shelf-life products, and increasing impulse purchasing. The market evolved from selling raw food, such as frozen meat, fish, vegetables, and fruits, to prepared food, frozen vegetable mixes (with meat, rice, and pasta), frozen desserts, and bakery products. Ice creams and cakes emerged as the leading product category in the frozen food market. The rising preference toward convenience food fuels the demand for frozen products due to their effortless and time-saving beneficial factor compared to cooking from scratch. The hectic lifestyle of the working population around the globe is majorly boosting the frozen food market. Significantly, the frozen snacks segment is anticipated to grow due to the rising snacking trend, especially among adults and teenagers.

With strong support in terms of technological innovation and the advantages of frozen food, products have become much more accessible and affordable for consumers globally. The advent of new technologies has resulted in the affordability of frozen food. Along with the clean-label trend, companies provide eco-friendly and sustainable packaging, understanding consumers' growing environmental sentiments and increasing their product penetration in the market. For instance, in April 2022, Nomad Foods partnered with Innoget, an innovation network, to develop clean-label paper-based packaging for frozen food, including frozen potato fries.

Frozen Food Market Trends

Surge In Demand For Ready Meals

Globally, the demand for convenient and instant food, particularly ready-to-eat products, is growing faster. This can be attributed to changes in social and economic patterns, increased expenditure on food and beverage, awareness about healthy food, changes in meal patterns and existing food habits, growing ex-pat settlement population across the regions, and the desire to taste new products. Moreover, the on-the-go food concept is closely associated with easy consumption and handling of products, which ready meals can offer. Thus, the demand for frozen food products is increasing due to the linked convenience of consumption and aided by disposable packaging simultaneously. Similarly, these frozen ready meals require minimum or no further preparation before consumption. With technological innovations in the food industry, convenience food includes ready meals in frozen, portion-controlled, shelf-stable, microwaveable, and prepared-mixes formats. Besides this, to cater to the consumers' demand for shelf-stability and convenience, manufacturers are innovating in formulation, which may be carried everywhere without spilling and has a long shelf life.

Europe Dominates the Market

Convenience and long shelf life are key factors driving the increase in consumption of frozen food across the region. Owing to this factor, the players operating in this market segment have been introducing new variants of frozen food influenced by different cuisines to cater to the shifting preferences of consumers. For instance, in June 2023, Frosta AG, a German-based company, launched a plant-based frozen food range, including Vegan Fish Fingers (Veggie Fish Stabchen). The company claims to utilize protein replacement ingredients from a reliable source. Moreover, there is a rise in the number of health-conscious consumers in Canada. This, in turn, is boosting the demand for frozen yogurt, as it has various health benefits, simproved digestion, enhanced immune function, and reduced risk of several diseases, including obesity. Additionally, frozen meat offers multiple advantages, such as longer shelf life and food safety, which are expected to drive the growth of the frozen meat market over the forecast period.

Frozen Food Industry Overview

The frozen food market is highly competitive and comprises regional and international competitors. Companies compete on different factors, including product offerings, ingredients, quality, taste, flavors, price, functionality, size, packaging, and marketing activities, to gain a competitive advantage. Players like Unilever, Nestle SA, General Mills, The Kraft Heinz Company, Tyson Foods Inc., and Conagra Brands Inc. dominate the market. The leading players in the frozen food market enjoy a dominant presence worldwide. These players focus on leveraging opportunities emerging markets pose to expand their product portfolio to cater to the requirements of various product segments, especially frozen desserts.

Frozen Food Market Leaders

1. Nestle SA

2. General Mills Inc

3. Unilever Plc

4. Tyson Foods Inc.

5. The Kraft Heinz Company

*Disclaimer: Major Players sorted in no particular order

Frozen Food Market Report - Table of Contents

1. 1. INTRODUCTION

   1. 1.1 Study Assumptions and Market Definition

   2. 1.2 Scope of the Study

2. 2. RESEARCH METHODOLOGY

3. 3. EXECUTIVE SUMMARY

4. 4. MARKET DYNAMICS

   1. 4.1 Market Drivers

      1. 4.1.1 Demand for Convenient Ready-to-Eat Food Products

      2. 4.1.2 Growing Affinity Toward Ethnic and Organic Frozen Ready Meals

   2. 4.2 Market Restraints

      1. 4.2.1 Rising Concerns Over Food Safety and Quality

   3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

5. 5. MARKET SEGMENTATION

   1. 5.1 Product Category

      1. 5.1.1 Ready-to-eat

      2. 5.1.2 Ready-to-cook

   2. 5.2 Product Type

      1. 5.2.1 Frozen Fruits and Vegetables

      2. 5.2.2 Frozen Meat and Fish

      3. 5.2.3 Frozen-cooked Ready Meals

      4. 5.2.4 Frozen Desserts

      5. 5.2.5 Frozen Snacks

      6. 5.2.6 Other Product Types

   3. 5.3 Distribution Channel

      1. 5.3.1 HoReCa

      2. 5.3.2 Retail

         1. 5.3.2.1 Supermarkets/hypermarkets

         2. 5.3.2.2 Convenience Stores

         3. 5.3.2.3 Online Channels

         4. 5.3.2.4 Other Retail Distribution Channels

   4. 5.4 Geography

      1. 5.4.1 North America

         1. 5.4.1.1 United States

         2. 5.4.1.2 Canada

         3. 5.4.1.3 Mexico

            See Also

            Frozen Food Product Marketing Plan Template | Template by ClickUp™

         4. 5.4.1.4 Rest of North America

      2. 5.4.2 Europe

         1. 5.4.2.1 Spain

         2. 5.4.2.2 United Kingdom

         3. 5.4.2.3 Germany

         4. 5.4.2.4 France

         5. 5.4.2.5 Italy

         6. 5.4.2.6 Russia

         7. 5.4.2.7 Rest of Europe

      3. 5.4.3 Asia-Pacific

         1. 5.4.3.1 China

         2. 5.4.3.2 Japan

         3. 5.4.3.3 India

         4. 5.4.3.4 Australia

         5. 5.4.3.5 Rest of Asia-Pacific

      4. 5.4.4 South America

         1. 5.4.4.1 Brazil

         2. 5.4.4.2 Argentina

         3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle East and Africa

         1. 5.4.5.1 South Africa

         2. 5.4.5.2 Saudi Arabia

         3. 5.4.5.3 Rest of Middle East and Africa

6. 6. COMPETITIVE LANDSCAPE

   1. 6.1 Most Adopted Strategies

   2. 6.2 Market Share Analysis

   3. 6.3 Company Profiles

      1. 6.3.1 General Mills Inc.

      2. 6.3.2 Unilever PLC

      3. 6.3.3 Nestle SA

      4. 6.3.4 Tyson Foods Inc.

      5. 6.3.5 Nomad Foods Ltd

      6. 6.3.6 Ajinomoto Co. Inc.

      7. 6.3.7 Conagra Brands Inc.

      8. 6.3.8 The Kraft Heinz Company

      9. 6.3.9 McCain Foods Limited

      10. 6.3.10 Hormel Foods Corporation

   4. *List Not Exhaustive

7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

Frozen Food Industry Segmentation

Frozen food products are preserved under low temperatures and have a long shelf life. The frozen food market is segmented by product category, product type, distribution channel, and geography. Based on product category, the market is segmented into ready-to-eat and ready-to-cook. The market is segmented by product type into frozen fruits and vegetables, frozen meat and fish, frozen-cooked ready meals, frozen desserts, frozen snacks, and other product types. The market is segmented by distribution channel into horeca and retail. The retail segment is further segmented into supermarkets/hypermarkets, convenience stores, online channels, and other retail distribution channels. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East and Africa. For each segment, the market sizing and forecasts have been done based on the value in USD.

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Frozen Food Industry Report

The global frozen food market is on a significant growth path, driven by the rising demand for convenience foods across various segments, including frozen ready meals, seafood, meat, snacks, and bakery items. This demand is spurred by increasing employment rates among women and a surge in online retailing, making frozen foods more accessible and propelling market growth. Despite a growing preference for natural and fresh foods, the market thrives, supported by technological advancements in packaging and wide product availability through supermarkets/hypermarkets and online retail. The expansion is also boosted by rising disposable incomes in emerging economies, positioning the frozen food sector for continued growth. Focused on convenience, variety, and accessibility, the market aims to meet the evolving consumer needs worldwide. For detailed insights, Mordor Intelligence™ Industry Reports offer a comprehensive analysis, including a market forecast and a historical overview, available as a free report PDF download.

• Frozen Food Market Size
• Frozen Food Market Share
• Frozen Food Market Trends
• Frozen Food Companies
• Frozen Food News

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