Frozen Food Market Report, Global Size, Trends and Industry Analysis 2023-2028
The latest report published by IMARC Group, titled “Frozen Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the market share. The report also includes competitor and regional analysis, and contemporary advancements in the market. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.
Market Overview:
The global frozen food market size reached US$ 242.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 312.2 Billion by 2028, exhibiting a growth rate (CAGR) of 4.2% during 2023-2028. Frozen food encompasses a variety of consumable items that undergo low temperatures, below their freezing point, and are stored in a frozen state to ensure prolonged preservation. This category includes vegetables, fruits, edible roots, seafood, meat products, ready-to-eat (RTE) meals, beverages, baked goods, snacks, and desserts.
Some frozen foods are packaged with preservatives to prevent bacterial and microbial growth that could lead to spoilage. Frozen food products are popular among individuals seeking convenient and swift meal solutions, as they can be cooked and enjoyed immediately. These products promote environmental sustainability by reducing food waste, as they have an extended shelf life and can be utilized as needed. Consequently, frozen food items are in extensive demand across the globe.
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What are the growth prospects and trends in the industry?
The frozen food market is primarily driven by the expanding food and beverage (F&B) industry and the increasing consumption of processed, ready-to-eat (RTE), and ready-to-cook (RTC) products. Additionally, the market is further propelled by the growing working population, changing lifestyles, busy schedules, and rising disposable incomes. Moreover, the elevating establishment of hotels, quick-service restaurants (QSRs), cafes, and cloud kitchens that utilize frozen foods to save cooking time and create innovative dishes is acting as another significant growth-inducing factor.
The launch of innovative products, the surging demand for organic and vegan frozen food options, and technological advancements in cold chain infrastructure are also positively influencing the global market. Furthermore, the inflating investments in marketing strategies, including attractive packaging, celebrity endorsements, and social media promotions, the introduction of online food retail channels and food delivery services, and the escalating reliance on smartphones, laptops, and personal computers (PCs) by consumers are expected to bolster the frozen food market over the forecasted period.
Competitive Landscape With Key Players:
The competitive landscape of the frozen food market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Ajinomoto Co. Inc.
- Aryzta A.G.
- Associated British Foods plc
- Bellisio Foods Inc. (Charoen Pokphand Foods)
- Cargill Incorporated
- Conagra Brands Inc.
- General Mills Inc.
- The Kraft Heinz Company
- JBS S.A.
- Jeanie Marshal Foods Ltd
- Kellogg Company
- McCain Foods Limited
- Nestlé S.A.
- Wawona Frozen Foods
Key Market Segmentation:
The report has segmented the global frozen food market based on product type, frozen vegetable snacks, frozen meat products, frozen vegetables, frozen fruits and region.
Breakup by Product Type:
- Frozen Vegetable Snacks
- Frozen Meat Products
- Frozen Vegetables and Fruits
Frozen Vegetable Snacks Breakup by Type:
- French Fries
- Bites, Wedges and Smileys
- Aloo Tikki
- Nuggets
- Others
Frozen Meat Products Breakup by Type:
- Chicken
- Fish
- Pork
- Mutton
- Others
Frozen Vegetables Breakup by Type:
- Green Peas
- Corn
- Mixed Vegetables
- Carrot
- Cauliflower
- Others
Frozen Fruits Breakup by Type:
- Strawberries
- Berries (Raspberries, Blueberries and Blackberries)
- Cherries
- Others
Breakup by Region:
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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