Frozen Food Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Raw Material, Half-Cooked, Ready To Eat), By Product (Frozen Fruits And Vegetables, Frozen Meat And Poultry, Frozen Seafood, Frozen Ready Meals, Frozen Desserts, Frozen Snacks, Others), By Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Online Channels, Others), By End-User (Food Service, Residential), And By Geography - Forecasts From 2023 To 2028

The frozen food market is estimated to grow at a CAGR of 3.74%, reaching US$324.407 billion in 2028 from US$250.858 billion in 2021.

The products are preserved under low temperatures to extend the self-life over a long time. Frozen food has gained popularity due to the hectic lifestyle of young professionals, and it has the potential to cater to these crowds due to its ability to offer extended shelf-life. Frozen food has minimal preparation time, and some ready-to-eat food can be prepared in seconds. Additionally, the increasing availability of seasonal food around the year, coupled with increasing disposable income, is also one of the factors driving the frozen food demand over the forecast period. Moreover, the requirement for food with clean labels is also increasing in the market, and companies are trying to provide eco-friendly and sustainable packaging to their customers.

Increasing Investments in the Food Sector

Investment by major companies to expand their production capacity shows that the market is growing and companies are willing to invest in the market. For instance, in February 2022, Tyson Foods announced building a new facility in Bowling Green with an investment of US$ 355 million. The facility has started producing products for Jimmy Dean and Wright Brands that offer a wide range of refrigerated and frozen food. Such investments indicate a boost in demand for frozen food in the market.

Increasing Demand for Convenience Food

As per the World Bank estimates, almost 2/3rd of the world's population is living in urban areas, and with further growth projected in the urban population, the need for more convenient food options is rising worldwide. Further, as per the data from the World Bank in 2020, 46% of females were engaged in the labor force - which grew to 47% in 2022. Frozen food comes in handy as the they have less time for meal preparation. It is easy to store and comes to be prepared in no time. This is one of the reasons why the frozen food market is anticipated to grow in the forecasted period. 

Europe is Expected to Grow Considerably

Europe is expected to hold a significant share of the frozen foods market during the forecast period. The United Kingdom is expected to hold a substantial share of the market owing to rising consumer awareness about the benefits of frozen food, which is the major factor contributing to the increasing demand during the forecast period. According to estimates from the Britain Frozen Food Federation (BFFF), there is growth in the post-pandemic phase in 2021 in various frozen food categories in the UK market, such as ice cream, fish, meat, and poultry. This indicated favorable prospects for the frozen food market till the forecast period.

Japan is the Largest Importer of Frozen Foods in Asia

The total import value of Japan's frozen vegetables was US$ 940 million in 2021, making the country the world's second-largest importer of frozen vegetables. The major part of the frozen vegetables exported from China is US$ 549 million. Countries such as the U.S., Thailand, Chinese Taipei, and Ecuador also played a major role. As per a survey released by the Japan Frozen Food Association on frozen food with 1,250 Japanese people, the survey indicated that 88% of females used frozen foods to prepare meals for their families. And approximately 80% of the men used frozen foods. Hence, the easy convenience of making food is driving the market for frozen food. The change in eating habits, the presence of dual income, and various options available also provide an edge for market growth. 

Market Developments:

• In June 2023, Unilever PLC, a key market player in frozen food in the UK, agreed to acquire Yasso Holdings, Inc., a frozen food brand in the United States. This agreement is expected to address the growing consumer demand for healthier & different varieties of frozen snacks.
• In April 2022, Nomad Food patterned with Innoget to develop a clean-label paper-based packaging for their frozen food. Such innovative steps by the companies are also driving the market for frozen food.
• In September 2021, Norman Foods, a major supplier of Frozen food in the UK, completed its acquisition of Fortenova Group for around Euro 615 million to expand its frozen food business across different countries of Europe such as Hungary, Bosnia, Slovenia, Serbia, among others.

Frozen Food Market Scope:

 

Report Metric	Details
Market Size Value in 2021	US$250.858 billion
Market Size Value in 2028	US$324.407 billion
Growth Rate	CAGR of 3.74% from 2021 to 2028
Base Year	2021
Forecast Period	2023 – 2028
Forecast Unit (Value)	USD Billion
Segments Covered	Type, Product, Distribution Channel, End-User, and Geography
Regions Covered	North America, South America, Europe, Middle East and Africa, Asia Pacific
Companies Covered	General Mills, Unilever, Nestle SA, Tyson Foods, Nomad Foods Ltd, Conagra Foods, Kellogg Company, McCain Foods Limited, Kraft Heinz Company, Ajinomoto, Cargill, Bellisio Foods, Wawona
Customization Scope	Free report customization with purchase

 

Market Segmentation:

• By Type
  • Raw Material
  • Half-Cooked
  • Ready to Eat
• By Product
  • Frozen fruits and vegetables
  • Frozen meat and poultry
  • Frozen seafood
  • Frozen ready meals
  • Frozen desserts
  • Frozen snacks
  • Others
• By Distribution Channel
  • Supermarkets & Hypermarkets
  • Convenience Stores
  • Online Channels
  • Others
• By End-User
  • Food Service
  • Residential
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • Israel
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Indonesia
    • Thailand
    • Taiwan
    • Others

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1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

2. RESEARCH METHODOLOGY  

2.1. Research Data

2.2. Sources

2.3. Research Design

3. EXECUTIVE SUMMARY

3.1. Research Highlights

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. FROZEN FOOD MARKET BY TYPE

5.1. Introduction

5.2. Raw Material

5.3. Half-Cooked

5.4. Ready to Eat

6. FROZEN FOOD MARKET BY PRODUCT

6.1. Introduction

6.2. Frozen fruits and vegetables

6.3. Frozen meat and poultry

6.4. Frozen seafood

6.5. Frozen ready meals

6.6. Frozen desserts

6.7. Frozen snacks

6.8. Others

7. FROZEN FOOD MARKET BY DISTRIBUTION CHANNEL

7.1. Introduction

7.2. Supermarkets & Hypermarkets

7.3. Convenience Stores

7.4. Online Channels

7.5. Others

8. FROZEN FOOD MARKET BY END-USER 

8.1. Introduction

8.2. Food Service

8.3. Residential

9. FROZEN FOOD MARKET BY GEOGRAPHY

9.1. Introduction

9.2. North America

9.2.1. By Type

9.2.2. By Distribution Channel

9.2.3. By End-User

9.2.4. By Country

9.2.4.1. United States

9.2.4.1.1. By Type 

9.2.4.1.2. By Distribution Channel

9.2.4.1.3. By End-User

9.2.4.2. Canada

9.2.4.2.1. By Type 

9.2.4.2.2. By Distribution Channel

9.2.4.2.3. By End-User

9.2.4.3. Mexico

9.2.4.3.1. By Type 

9.2.4.3.2. By Distribution Channel

9.2.4.3.3. By End-User

9.3. South America

9.3.1. By Type

9.3.2. By Distribution Channel

9.3.3. By End-User

9.3.4. By Country

9.3.4.1. Brazil

9.3.4.1.1. By Type 

9.3.4.1.2. By Distribution Channel

9.3.4.1.3. By End-User

9.3.4.2. Argentina 

9.3.4.2.1. By Type 

9.3.4.2.2. By Distribution Channel

9.3.4.2.3. By End-User

9.3.4.3. Others

9.3.4.3.1. By Type 

9.3.4.3.2. By Distribution Channel

9.3.4.3.3. By End-User

9.4. Europe

9.4.1. By Type

9.4.2. By Distribution Channel

9.4.3. By End-User

9.4.4. By Country

9.4.4.1. United Kingdom

9.4.4.1.1. By Type 

9.4.4.1.2. By Distribution Channel

9.4.4.1.3. By End-User

9.4.4.2. Germany

9.4.4.2.1. By Type 

9.4.4.2.2. By Distribution Channel

9.4.4.2.3. By End-User

9.4.4.3. France

9.4.4.3.1. By Type 

9.4.4.3.2. By Distribution Channel

9.4.4.3.3. By End-User

9.4.4.4. Italy

9.4.4.4.1. By Type 

9.4.4.4.2. By Distribution Channel

9.4.4.4.3. By End-User

9.4.4.5. Others

9.4.4.5.1. By Type 

9.4.4.5.2. By Distribution Channel

9.4.4.5.3. By End-User

9.5. Middle East and Africa

9.5.1. By Type

9.5.2. By Distribution Channel

9.5.3. By End-User

9.5.4. By Country

9.5.4.1. Saudi Arabia

9.5.4.1.1. By Type 

9.5.4.1.2. By Distribution Channel

9.5.4.1.3. By End-User

9.5.4.2. Israel

9.5.4.2.1. By Type 

9.5.4.2.2. By Distribution Channel

9.5.4.2.3. By End-User

9.5.4.3. Others

9.5.4.3.1. By Type 

9.5.4.3.2. By Distribution Channel

9.5.4.3.3. By End-User

9.6. Asia Pacific

9.6.1. By Type

9.6.2. By Distribution Channel

9.6.3. By End-User

9.6.4. By Country

9.6.4.1. China

9.6.4.1.1. By Type 

9.6.4.1.2. By Distribution Channel

9.6.4.1.3. By End-User

9.6.4.2. Japan

9.6.4.2.1. By Type 

9.6.4.2.2. By Distribution Channel

9.6.4.2.3. By End-User

9.6.4.3. India

9.6.4.3.1. By Type 

9.6.4.3.2. By Distribution Channel

9.6.4.3.3. By End-User

9.6.4.4. South Korea

9.6.4.4.1. By Type 

9.6.4.4.2. By Distribution Channel

9.6.4.4.3. By End-User

9.6.4.5. Indonesia

9.6.4.5.1. By Type 

9.6.4.5.2. By Distribution Channel

9.6.4.5.3. By End-User

9.6.4.6. Thailand

9.6.4.6.1. By Type 

9.6.4.6.2. By Distribution Channel

9.6.4.6.3. By End-User

9.6.4.7. Taiwan

9.6.4.7.1. By Type 

9.6.4.7.2. By Distribution Channel

9.6.4.7.3. By End-User

9.6.4.8. Others

9.6.4.8.1. By Type 

9.6.4.8.2. By Distribution Channel

9.6.4.8.3. By End-User

10. COMPETITIVE ENVIRONMENT AND ANALYSIS

10.1. Major Players and Strategy Analysis

10.2. Market Share Analysis

10.3. Mergers, Acquisitions, Agreements, and Collaborations

10.4. Vendor Competitiveness Matrix

11. COMPANY PROFILES

11.1. General Mills

11.2. Unilever

11.3. Nestle SA

11.4. Tyson Foods

11.5. Nomad Foods Ltd 

11.6. Conagra Foods

11.7. Kellogg Company

11.8. McCain Foods Limited

11.9. Kraft Heinz Company

11.10. Ajinomoto  

11.11. Cargill

11.12. Bellisio Foods

11.13. Wawona

General Mills

Unilever

Nestle SA

Tyson Foods

Nomad Foods Ltd

Conagra Foods

Kellogg Company

McCain Foods Limited

Kraft Heinz Company

Ajinomoto 

Cargill

Bellisio Foods

Wawona