Frozen food is referred to the food products that can be stored in low temperature over a long period. The popular frozen food products include frozen ready-to-eat meals, fruits & vegetables, meat & poultry, and soups. Global frozen food market comprises retail as well as business customers. Retail consumers of frozen food are individuals and households, whereas business consumers include hotel chains, fast food outlets, caterers, and other business buyers. Retail customers prefer cooked and semi-cooked ready-to-eat food, meat, and soups. On the contrary, business customers majorly use frozen meat, seafood, frozen pizza crust, bread, frozen dough, potatoes, and vegetables as key ingredients for preparing food for end customers. Regionally, Europe is the largest market for frozen food, closely followed by North America.
Large portion of the population from various demographic segments have been following a healthy diet plan, due to a rise in awareness toward various benefits associated with the adoption of healthy lifestyle. In addition, consumers have been seeking for food products that are rich in nutrition and promote health benefits. Frozen food products possess a characteristic feature of preserving its nutritional content for a longer period. As a result, with rise in trend on food fortification, the frozen bakery products industry sights opportunity in gaining traction among health-conscious customers and simultaneously generating sales.
The market is segmented into product type, user, and region. The products covered in the report include frozen ready meals, meat & poultry, seafood, vegetables & fruits, potatoes and soup. Ready meals segment is the largest revenue generator in the current scenario, followed by frozen meat and poultry products. Frozen potatoes segment is expected to grow at the fastest CAGR of 4.8% during 2019–2027, followed by the frozen seafood products segment, which is expected to witness a CAGR of 4.4% during the same period.
Frozen ready meals such as bread, cakes, pastries, and donuts are derived from sources such as corn, wheat, barley, oats, and rye. The consumption of these sources being used as the raw materials for bakery product varies across the world. These are rich in nutrition & taste, exhibit comparatively longer shelf life, and are convenient to use, which significantly drive the demand for these products, thereby augmenting the market growth. Frozen bakery products are usually sold in various stores, cafes, and restaurant.
On the basis of user, the market is segmented into retail users and food service industry (hotel chains, restaurants, caterers, and others). To gain a comprehensive understanding, the market is analyzed across key regions, including North America, Europe, Asia-Pacific, and LAMEA. North America and Europe are large developed markets for frozen food, whereas developing markets include Asia-Pacific and LAMEA.
Major companies operating in this market have adopted new product development and acquisition as their key strategies to gain a competitive edge. Aryzta is one of the largest suppliers of frozen bakery products in North America and Europe. Nestle is a leading player in frozen pizza segment in North America and Europe. Mac. Cain foods launched local food variants in India conforming to the traditional food habits of customers. Leading players profiled in the report include Aryzta A.G., Ajinomoto Co. Inc., Cargill Incorporated, General Mills Inc., JBS S.A., Kellogg Company, the Kraft Heinz Company, Nestle S.A., and ConAgra Brands, Inc., and Associated British Foods Plc.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the global frozen food market, with current and future trends to elucidate the imminent investment pockets in the market.
- Current and future trends are outlined in the report to determine the overall market attractiveness and single out profitable trends to gain a stronger foothold in the market.
- The report provides information regarding drivers, restraints, and opportunities with impact analysis.
- A quantitative analysis of the current market and estimation for the same from 2020 to 2027 is provided to showcase the financial competency of the market.
- Porter’s five forces model of the industry illustrates competitiveness of the market by analyzing various parameters such as, threat of new entrants, threat of substitutes, bargaining power of the buyers, and bargaining power of the suppliers operating in the market.
- Value chain analysis in the report provides a clear understanding of the roles of stakeholders involved in the value chain.
- Competitive intelligence highlights the business practices followed by the leading market players across various regions.
KEY MARKET SEGMENTS
By Product Type
- Frozen Ready Meals
- Frozen Meat & Poultry
- Frozen Seafood
- Frozen Vegetables & Fruits
- Frozen & Refrigerated Soups
- Frozen Potatoes
- Food Service Industry
- Retail Users
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South Africa
- Rest of LAMEA
Table of Contents
1.2. Key Benefits for Stakeholders
1.3. Key Market Segments
1.4. Research Methodology
1.4.1. Secondary Research
1.4.2. Primary Research
1.4.3. Analyst Tools and Models
2.2. CXO Perspective
3.2. Key Findings
3.2.1. Top Investment Pockets
3.2.2. Value Chain Analysis
3.3. Porter’S Five Forces Analysis
3.3.1. Undifferentiated Products Reduce the Bargaining Power of Suppliers
3.3.2. Low Switching Cost Increases the Bargaining Power of Buyers
3.3.3. Availability of Substitutes for Snack and Fast Food Increases the Threat of Substitutes
3.3.4. Low Exit Barriers Lead to More Number of Small Players and Increased Industry Rivalry
3.3.5. Moderate-To-High Intensity of Competitive Rivalry
3.4. Market Dynamics
22.214.171.124. Increase in Purchasing Power
126.96.36.199. Changes in Lifestyle and Food Habits
188.8.131.52. Surge in Female Working Population
184.108.40.206. Research and Operational Excellence
220.127.116.11. Increase in Health and Fitness Concern
18.104.22.168. Government Regulations for Storage
22.214.171.124. Availability of Fresh Food Substitutes
126.96.36.199. Lack of Storage and Transport Facility
188.8.131.52. Rapid Development of the Food Service Industry
184.108.40.206. Improved Storage Facility in Small Retail Stores
220.127.116.11. Rapid Growth of the Retail Sector
18.104.22.168. Transition in Consumer Demand
4.1.1. Market Size and Forecast
4.2. Ready Meals
4.2.1. Key Market Trends, Growth Factors, and Opportunities
22.214.171.124. Fast Food
126.96.36.199. Bakery & Dessert
4.2.2. Market Size and Forecast
4.3. Frozen Seafood
4.3.1. Key Market Trends, Growth Factors, and Opportunities
4.3.2. Market Size and Forecast
4.4. Frozen Meat & Poultry
4.4.1. Key Market Trends, Growth Factors, and Opportunities
4.4.2. Market Size and Forecast
4.5. Frozen Fruit & Vegetables
4.5.1. Key Market Trends, Growth Factors, and Opportunities
4.5.2. Market Size and Forecast
4.6. Frozen Potatoes
4.6.1. Key Market Trends, Growth Factors, and Opportunities
4.6.2. Market Size and Forecast
4.7. Frozen Soups
4.7.1. Key Market Trends, Growth Factors, and Opportunities
4.7.2. Market Size and Forecast
5.1.1. Market Size and Forecast
5.2. Food Service Industry
5.2.1. Key Market Trends, Growth Factors, and Opportunities
5.2.2. Market Size and Forecast
5.3. Retail Users
5.3.1. Key Market Trends, Growth Factors, and Opportunities
5.3.2. Market Size and Forecast
6.1.1. Market Size and Forecast, by Region
6.2. North America
6.2.1. Key Market Trends, Growth Factors, and Opportunities
6.2.2. Market Size and Forecast, by Product Type
6.2.3. Market Size and Forecast, by User
6.2.4. Market Size and Forecast, by Country
188.8.131.52. U. S.
184.108.40.206.1. Market Size and Forecast, by Product Type
220.127.116.11.2. Market Size and Forecast, by User
18.104.22.168.1. Market Size and Forecast, by Product Type
22.214.171.124.2. Market Size and Forecast, by User
126.96.36.199.3. Mexico Frozen Food Market Revenue, 2019–2027 ($Million)
188.8.131.52.1. Market Size and Forecast, by Product Type
184.108.40.206.2. Market Size and Forecast, by User
6.3.1. Key Market Trends, Growth Factors, and Opportunities
6.3.2. Market Size and Forecast, by Product Type
6.3.3. Market Size and Forecast, by User
6.3.4. Market Size and Forecast, by Country
220.127.116.11.1. Market Size and Forecast, by Product Type
18.104.22.168.2. Market Size and Forecast, by User
22.214.171.124.1. Market Size and Forecast, by Product Type
126.96.36.199.2. Market Size and Forecast, by User
188.8.131.52.1. Market Size and Forecast, by Product Type
184.108.40.206.2. Market Size and Forecast, by User
220.127.116.11.1. Market Size and Forecast, by Product Type
18.104.22.168.2. Market Size and Forecast, by User
22.214.171.124.1. Market Size and Forecast, by Product Type
126.96.36.199.2. Market Size and Forecast, by User
188.8.131.52. Rest of Europe
184.108.40.206.1. Market Size and Forecast, by Product Type
220.127.116.11.2. Market Size and Forecast, by User
6.4.1. Key Market Trends, Growth Factors, and Opportunities
6.4.2. Market Size and Forecast, by Product Type
6.4.3. Market Size and Forecast, by User
6.4.4. Market Size and Forecast, by Country
18.104.22.168.1. Market Size and Forecast, by Product Type
22.214.171.124.2. Market Size and Forecast, by User
126.96.36.199.1. Market Size and Forecast, by Product Type
188.8.131.52.2. Market Size and Forecast, by User
184.108.40.206.1. Market Size and Forecast, by Product Type
220.127.116.11.2. Market Size and Forecast, by User
18.104.22.168.1. Market Size and Forecast, by Product Type
22.214.171.124.2. Market Size and Forecast, by User
126.96.36.199. South Korea
188.8.131.52.1. Market Size and Forecast, by Product Type
184.108.40.206.2. Market Size and Forecast, by User
220.127.116.11. Rest of Asia-Pacific
18.104.22.168.1. Market Size and Forecast, by Product Type
22.214.171.124.2. Market Size and Forecast, by User
6.5.1. Key Market Trends, Growth Factors, and Opportunities
6.5.2. Market Size and Forecast, by Product Type
6.5.3. Market Size and Forecast, by User
6.5.4. Market Size and Forecast, by Country
126.96.36.199.1. Market Size and Forecast, by Product Type
188.8.131.52.2. Market Size and Forecast, by User
184.108.40.206. South Africa
220.127.116.11.1. Market Size and Forecast, by Product Type
18.104.22.168.2. Market Size and Forecast, by User
22.214.171.124.1. Market Size and Forecast, by Product Type
126.96.36.199.2. Market Size and Forecast, by User
188.8.131.52. Rest of LAMEA
184.108.40.206.1. Market Size and Forecast, by Product Type
220.127.116.11.2. Market Size and Forecast, by User
7.2. Product Mapping
7.3. Top Player Positioning
7.4. Competitive Dashboard
7.5. Competitive Heatmap
7.6. Key Developments
7.6.1. Product Launch
7.6.2. Joint Venture
7.6.4. Business Expansion
Executive SummaryAccording to the report titled, 'Frozen Food Market by Product Type and User: Global Opportunity Analysis and Industry Forecast, 2020-2027' the global frozen food market is expected to reach $404.8 billion by 2027 at a CAGR of 4.2% from 2020 to 2027.
Deep frozen food products that can be stored and used over a period are referred as frozen foods. Frozen food products covered in this report comprise frozen ready meals, frozen meat & poultry, seafood, fruits & vegetables, potatoes, and frozen soups. Frozen meat & poultry and seafood are among the most commonly used grocery items across North America and Europe. Frozen vegetables & fruits, potatoes, and non-veg products are extensively used in food service industry. Players such as KFC, Mc Donald’s, Pizza Hut, and Subway, are among the major users of frozen foods. According to frozen food market analysis, Europe is the largest market of frozen bakery and desserts. The retail frozen food industry is evolving, and is in its nascent phase in markets such as India. However, it has witnessed a steady growth since the past few years.
According to the current frozen food market trends Ready meals including cooked and semi-cooked foods, bakery products, and desserts have become increasingly popular in developing economies and have registered a considerable growth since past few years. Demand of frozen food products generated by the food service industry has resulted in a manifold growth of key frozen food suppliers such as Mac. Cain foods. Popularity of healthy and organic frozen soups is increasing rapidly among retail customers.
Moreover, high-end bakery and dessert market is expected to continue to register a healthy growth in Europe. The sales volume of ready meals witnessed a decline in recent years in North America. However, the market is anticipated to grow in terms of value, owing to surge sales of premium health and fitness frozen food and snacks made from high-quality natural ingredients. Demand of frozen fish is expected to increase further, owing to high perceived health benefits, thereby driving the frozen food market growth.
However, lack of refrigeration facilities in small retail stores and low penetration of large retail format are the major challenges for the industry in developing economies. On the contrary, due to rapid development of retail stores and rise in income level of middle-class population, the market has unveiled remunerative business opportunities since past few years. Technological adoptions is one of the frozen food market opportunity in front of the manufacturers and distributors.
Region wise, the frozen food market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Chile, Argentina, and rest of LAMEA).
Key Findings of the Study:
The frozen food market size was valued at $291.8 billion in 2019, and is estimated to reach $404..8 billion by 2027, registering a CAGR of 4.2% from 2020 to 2027.
By product type, the frozen ready meals segment is estimated to witness the fastest growth, registering a CAGR of 3.4% during the forecast period.
In 2019, by user, the food service industry segment held the highest share in the global frozen food market.
In 2019, Germany was the most prominent market in the Europe region, and is expected to grow at a significant CAGR throughout the forecast period.
The players in the product market have adopted various developmental strategies to expand their frozen food market share, an increase profitability, and remain competitive in the marke. The key players profiled in this report include Aryzta A.G., Ajinomoto Co. Inc., Cargill Incorporated, General Mills Inc., JBS S.A., Kellogg Company. The Kraft Heinz Company, Nestle S.A., ConAgra Brands, Inc., and Associated British Foods Plc.
- Aryzta A.G.
- Ajinomoto Co. Inc.
- Cargill Incorporated
- General Mills Inc.
- JBS S.A.
- Kellogg Company
- The Kraft Heinz Company
- Nestle S.A.
- ConAgra Brands Inc.
- Associated British Foods Plc
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
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