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Global Frozen Food Market

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    Report

  • 984 Pages
  • January 2024
  • Region: Global
  • Astute Analytica
  • ID: 5969516
Description Jump to:

Global Frozen Food Market: Soaring to US$ 732.41 Bn by 2031 with a CAGR of 10.79% and Volume Expansion to 38.42 Bn Kg

The global frozen food market is set for a substantial expansion, with market value projected to grow from US$ 331.83 Bn in 2023 to US$ 732.41 Bn by 2031, at a CAGR of 10.79%. Additionally, the market volume is expected to reach 38.42 billion kilograms in 2023, indicating significant consumer demand for frozen foods.

Growth Influencers:

The market's growth is driven by rising Foreign Direct Investment (FDI) in developing countries and evolving consumer lifestyles demanding convenience. However, a growing preference for natural and fresh food products presents a challenge to the market. Despite this, the convenience and longevity offered by frozen foods continue to support market expansion.

Segment Overview:

The market is categorized by product type, distribution channel, and region.

By Product Type

  • Fruits
  • Seasonal
  • Regular
  • Vegetables
  • Peas
  • Corn
  • Potatoes
  • Others
  • Dairy Products
  • Milk
  • Butter
  • Cheese
  • Others
  • Meat & Poultry
  • Red Meat
  • Pork Meat
  • Poultry Meat
  • Sea Food
  • Bakery Products
  • Breads
  • Pizza Crust
  • Cakes & Pasteries
  • Others
  • Soups
  • Ready Meals
  • Dumplings
  • Rice Based
  • Italian (Pastas)
  • Indian
  • Korean
  • Chinese (Excluded Dumplings)
  • Others
  • Others

By Distribution Channel

  • Retail
  • Online
  • Supermarket/Hypermarket
  • Convenience / Standalone Stores
  • Enterprise Sales (B2B)
  • HoReCa
  • Travel (Railway/Airline/Others)
  • Educational Institute
  • Food Processing Industry
In product types, the Ready Meals segment holds the largest market share of over 29% in 2023, while Meat & Poultry is projected to surpass US$ 110 Bn in revenue by 2027. Retail distribution, including online and supermarket/hypermarket sales, presents an opportunity exceeding US$ 275 Bn for 2023-2031.

Regional Overview:

On the bases of region market has been categorized into following:

North America

  • US
  • Canada
  • Mexico

Europe

  • Western Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Western Europe
  • Eastern Europe
  • Poland
  • Russia
  • Rest of Eastern Europe

Asia Pacific

  • China
  • India
  • Japan
  • South Korea
  • Aus & NZ
  • ASEAN
  • Indonesia
  • Thailand
  • Malaysia
  • Vietnam
  • Singapore
  • Philippines
  • Rest of ASEAN
  • Rest of APAC
  • Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of MEA

South America

  • Argentina
  • Brazil
  • Rest of South America
Europe leads the market, holding over 30% of the market share in 2023, with a revenue of around US$ 110.33 Bn. This dominance is followed closely by the Asia Pacific, which is experiencing the fastest growth at a CAGR of over 12.59%. North America, the Middle East & Africa, and South America also contribute significantly to the market.

Company Profile:

The market comprises key players, with the top ten companies accounting for about 40% of the market share. These include industry giants such as Cargill, Unilever, Nestle SA, Ajinomoto Co. Ltd., General Mills Inc., ConAgra Brands, Inc., McCain Foods, Nichirei Corporation Limited, Maruha Nichiro Corporation, CJ Foods, Sanquan Food Co., Ltd, among others, driving market trends and innovations.

Value Addition:

The report provides a detailed analysis of consumer preferences towards natural and fresh food products, including insights into purchasing patterns by item, cuisine, channel, brand, frequency, and demographics. It also includes a cost structure analysis for different product categories, an overview of strategies employed by market players during the COVID-19 pandemic, a SWOT analysis of Japan's market, and a demographic analysis of the top 10 consumption markets.

Report Insights:

  • The global frozen food market is projected to reach a valuation of US$ 732.41 Bn by 2031.
  • Market growth is fueled by increased FDI in developing countries and the convenience of frozen foods.
  • Ready Meals and Meat & Poultry are leading product segments.
  • Europe and Asia Pacific are key regions, with Europe holding the largest market share.

Questions to be Answered:

  • What are the key factors driving the global frozen food market?
  • Which product segments and regions are leading in the frozen food market?
  • How are evolving consumer preferences impacting the market?
  • What strategic initiatives are major companies undertaking to stay ahead in the market?

Table of Contents

Chapter 1. Research Framework
1.1 Research Objective
1.2 Product Overview
1.3 Market Segmentation
Chapter 2. Research Methodology
2.1 Qualitative Research
2.1.1 Primary & Secondary Sources
2.2 Quantitative Research
2.2.1 Primary & Secondary Sources
2.3 Breakdown of Primary Research Respondents, By Region
2.4 Assumption for the Study
2.5 Market Size Estimation
2.6. Data Triangulation
Chapter 3. Executive Summary: Global Frozen Food Market
Chapter 4. Global Frozen Food Market Overview
4.1. Industry Value Chain Analysis
4.1.1. Raw Material Provider
4.1.2. Cold Storage Provider
4.1.3. Distributor
4.1.4. End User
4.2. Industry Outlook
4.2.1. Market trend of frozen processes foods
4.2.2. Pre-freezing Considerations
4.2.3. Consumer Demographics Analysis - Top 10 Frozen Food Consumption Markets
4.2.4. Consumer Buying Behavior Analysis
4.2.4.1. By Product Item
4.2.4.2. By Cuisine
4.2.4.3. By Purchase Channel
4.2.4.4. By Popular Brand
4.2.4.5. By Purchase Frequency
4.2.4.6. By Demographics - Age, Gender, Education Qualification and Income
4.3. PESTLE Analysis
4.4. Porter's Five Forces Analysis
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Power of Buyers
4.4.3. Threat of Substitutes
4.4.4. Threat of New Entrants
4.4.5. Degree of Competition
4.5. Market Dynamics and Trends
4.5.1. Growth Drivers
4.5.2. Restraints
4.5.3. Challenges
4.5.4. Key Trends
4.6. COVID-19 Impact Assessment on Market Growth Trend
4.7. Market Growth and Outlook
4.7.1. Market Revenue Estimates and Forecast (US$ Mn), 2018 - 2031
4.7.2. Market Volume Estimates and Forecast (Mn Kg), 2018 - 2031
4.7.3. Price Trend Analysis, By Product Type
4.8. Competition Dashboard
4.8.1. Market Concentration Rate
4.8.2. Company Market Share Analysis (Value %), 2022
4.8.3. Competitor Mapping
Chapter 5. Global Frozen Food Market Analysis, By Product Type
5.1. Key Insights
5.2. Market Size and Forecast, 2018 - 2031 (US$ Mn and Mn Kg)
5.2.1. Fruits
5.2.1.1. Seasonal
5.2.1.2. Regular
5.2.2. Vegetables
5.2.2.1. Peas
5.2.2.2. Corn
5.2.2.3. Potatoes
5.2.2.4. Others
5.2.3. Dairy Products
5.2.3.1. Milk
5.2.3.2. Butter
5.2.3.3. Cheese
5.2.3.4. Others
5.2.4. Meat & Poultry
5.2.4.1. Red Meat
5.2.4.2. Pork Meat
5.2.4.3. Poultry Meat
5.2.5. Seafood
5.2.6. Bakery Products
5.2.6.1. Bread
5.2.6.2. Pizza Crust
5.2.6.3. Cakes & Pastries
5.2.6.4. Others
5.2.7. Soups
5.2.8. Ready Meals
5.2.8.1. Dumplings
5.2.8.2. Rice based
5.2.8.3. Italian (Pastas)
5.2.8.4. Indian
5.2.8.5. Korean
5.2.8.6. Chinese
5.2.8.7. Others
5.2.9. Others
Chapter 6. Global Frozen Food Market Analysis, By Distribution Channel
6.1. Key Insights
6.2. Market Size and Forecast, 2018 - 2031 (US$ Mn and Mn Kg)
6.2.1. Retail
6.2.1.1. Online
6.2.1.2. Supermarket/ Hypermarket
6.2.1.3. Convenience Stores/ Standalone Stores
6.2.2. Enterprise Sale (B2B) 6.2.2.1. HoReCa (Hotel, Restaurants, Cafe) - Food Service
6.2.2.2. Travel (Railway/ Airline/ Others)
6.2.2.3. Educational Institutes
6.2.2.4. Food Processing Industry
Chapter 7. Global Frozen Food Market, By Region
7.1. Key Insights
7.2. Market Size and Forecast, 2018 - 2031 (US$ Mn and Mn Kg)
7.2.1. North America
7.2.1.1. The U.S.
7.2.1.2. Canada
7.2.1.3. Mexico
7.2.2. Europe
7.2.2.1. Western Europe
7.2.2.1.1. The UK
7.2.2.1.2. Germany
7.2.2.1.3. France
7.2.2.1.4. Italy
7.2.2.1.5. Spain
7.2.2.1.6. Rest of Western Europe
7.2.2.2. Eastern Europe
7.2.2.2.1. Poland
7.2.2.2.2. Russia
7.2.2.2.3. Rest of Eastern Europe
7.2.3. Asia Pacific
7.2.3.1. China
7.2.3.2. India
7.2.3.3. Japan
7.2.3.4. South Korea
7.2.3.5. Australia & New Zealand
7.2.3.6. ASEAN
7.2.3.6.1. Indonesia
7.2.3.6.2. Thailand
7.2.3.6.3. Malaysia
7.2.3.6.4. Vietnam
7.2.3.6.5. Singapore
7.2.3.6.6. Philippines
7.2.3.6.7. Rest of ASEAN
7.2.3.7. Rest of Asia Pacific
7.2.4. Middle East & Africa (MEA)
7.2.4.1. Saudi Arabia
7.2.4.2. UAE
7.2.4.3. Egypt
7.2.4.4. South Africa
7.2.4.5. Rest of MEA
7.2.5. South America
7.2.5.1. Argentina
7.2.5.2. Brazil
7.2.5.3. Rest of South America
Chapter 8. North America Frozen Food Market Analysis
8.1. Key Insights
8.2. Market Size and Forecast, 2018 - 2031 (US$ Mn and Mn Kg)
8.2.1. By Product Type
8.2.2. By Distribution Channel
8.2.3. By Country
Chapter 9. Europe Frozen Food Market Analysis
9.1. Key Insights
9.2. Market Size and Forecast, 2018 - 2031 (US$ Mn and Mn Kg)
9.2.1. By Product Type
9.2.2. By Distribution Channel
9.2.3. By Country
Chapter 10. Asia Pacific Frozen Food Market Analysis
10.1. Key Insights
10.2. Market Size and Forecast, 2018 - 2031 (US$ Mn and Mn Kg)
10.2.1. By Product Type
10.2.2. By Distribution Channel
10.2.3. By Country
Chapter 11. Middle East & Africa Frozen Food Market Analysis
11.1. Key Insights
11.2. Market Size and Forecast, 2018 - 2031 (US$ Mn and Mn Kg)
11.2.1. By Product Type
11.2.2. By Distribution Channel
11.2.3. By Country
Chapter 12. South America Frozen Food Market Analysis
12.1. Key Insights
12.2. Market Size and Forecast, 2018 - 2031 (US$ Mn and Mn Kg)
12.2.1. By Product Type
12.2.2. By Distribution Channel
12.2.3. By Country
Chapter 13. The U.S. Frozen Food Market Analysis
13.1. Key Insights
13.2. Market Size and Forecast, 2018 - 2031 (US$ Mn and Mn Kg)
13.2.1. By Product Type
13.2.2. By Distribution Channel
Chapter 14. Canada Frozen Food Market Analysis 14.1. Key Insights
14.2. Market Size and Forecast, 2018 - 2031 (US$ Mn and Mn Kg)
14.2.1. By Product Type
14.2.2. By Distribution Channel
Chapter 15. Mexico Frozen Food Market Analysis
15.1. Key Insights
15.2. Market Size and Forecast, 2018 - 2031 (US$ Mn and Mn Kg)
15.2.1. By Product Type
15.2.2. By Distribution Channel
Chapter 16. The UK Frozen Food Market Analysis
16.1. Key Insights
16.2. Market Size and Forecast, 2018 - 2031 (US$ Mn and Mn Kg) 16.2.1. By Product Type
16.2.2. By Distribution Channel
Chapter 17. Germany Frozen Food Market Analysis
17.1. Key Insights
17.2. Market Size and Forecast, 2018 - 2031 (US$ Mn and Mn Kg)
17.2.1. By Product Type
17.2.2. By Distribution Channel
Chapter 18. France Frozen Food Market Analysis
18.1. Key Insights
18.2. Market Size and Forecast, 2018 - 2031 (US$ Mn and Mn Kg)
18.2.1. By Product Type
18.2.2. By Distribution Channel
Chapter 19. Italy Frozen Food Market Analysis
19.1. Key Insights
19.2. Market Size and Forecast, 2018 - 2031 (US$ Mn and Mn Kg)
19.2.1. By Product Type
19.2.2. By Distribution Channel
Chapter 20. Spain Frozen Food Market Analysis
20.1. Key Insights
20.2. Market Size and Forecast, 2018 - 2031 (US$ Mn and Mn Kg)
20.2.1. By Product Type
20.2.2. By Distribution Channel
Chapter 21. Rest of Western Europe Frozen Food Market Analysis
21.1. Key Insights 21.2. Market Size and Forecast, 2018 - 2031 (US$ Mn and Mn Kg)
21.2.1. By Product Type
21.2.2. By Distribution Channel
Chapter 22. Poland Frozen Food Market Analysis
22.1. Key Insights
22.2. Market Size and Forecast, 2018 - 2031 (US$ Mn and Mn Kg)
22.2.1. By Product Type
22.2.2. By Distribution Channel
Chapter 23. Russia Frozen Food Market Analysis
23.1. Key Insights
23.2. Market Size and Forecast, 2018 - 2031 (US$ Mn and Mn Kg)
23.2.1. By Product Type 23.2.2. By Distribution Channel
Chapter 24. Rest of Eastern Europe Frozen Food Market Analysis
24.1. Key Insights
24.2. Market Size and Forecast, 2018 - 2031 (US$ Mn and Mn Kg)
24.2.1. By Product Type
24.2.2. By Distribution Channel
Chapter 25. China Frozen Food Market Analysis
25.1. Key Insights
25.2. Market Size and Forecast, 2018 - 2031 (US$ Mn and Mn Kg)
25.2.1. By Product Type
25.2.2. By Distribution Channel
Chapter 26. India Frozen Food Market Analysis 26.1. Key Insights
26.2. Market Size and Forecast, 2018 - 2031 (US$ Mn and Mn Kg)
26.2.1. By Product Type
26.2.2. By Distribution Channel
Chapter 27. Japan Frozen Food Market Analysis
27.1. Key Insights
27.2. Market Size and Forecast, 2018 - 2031 (US$ Mn and Mn Kg)
27.2.1. By Product Type
27.2.2. By Distribution Channel
Chapter 28. South Korea Frozen Food Market Analysis
28.1. Key Insights
28.2. Market Size and Forecast, 2018 - 2031 (US$ Mn and Mn Kg) 28.2.1. By Product Type
28.2.2. By Distribution Channel
Chapter 29. Australia & New Zealand Frozen Food Market Analysis
29.1. Key Insights
29.2. Market Size and Forecast, 2018 - 2031 (US$ Mn and Mn Kg)
29.2.1. By Product Type
29.2.2. By Distribution Channel
Chapter 30. ASEAN Frozen Food Market Analysis
30.1. Key Insights
30.2. Market Size and Forecast, 2018 - 2031 (US$ Mn and Mn Kg)
30.2.1. By Product Type
30.2.2. By Distribution Channel
Chapter 31. Indonesia Frozen Food Market Analysis
31.1. Key Insights
31.2. Market Size and Forecast, 2018 - 2031 (US$ Mn and Mn Kg)
31.2.1. By Product Type
31.2.2. By Distribution Channel
Chapter 32. Thailand Frozen Food Market Analysis
32.1. Key Insights
32.2. Market Size and Forecast, 2018 - 2031 (US$ Mn and Mn Kg)
32.2.1. By Product Type
32.2.2. By Distribution Channel
Chapter 33. Malaysia Frozen Food Market Analysis
33.1. Key Insights 33.2. Market Size and Forecast, 2018 - 2031 (US$ Mn and Mn Kg)
33.2.1. By Product Type
33.2.2. By Distribution Channel
Chapter 34. Vietnam Frozen Food Market Analysis
34.1. Key Insights
34.2. Market Size and Forecast, 2018 - 2031 (US$ Mn and Mn Kg)
34.2.1. By Product Type
34.2.2. By Distribution Channel
Chapter 35. Singapore Frozen Food Market Analysis
35.1. Key Insights
35.2. Market Size and Forecast, 2018 - 2031 (US$ Mn and Mn Kg)
35.2.1. By Product Type 35.2.2. By Distribution Channel
Chapter 36. Philippines Frozen Food Market Analysis
36.1. Key Insights
36.2. Market Size and Forecast, 2018 - 2031 (US$ Mn and Mn Kg)
36.2.1. By Product Type
36.2.2. By Distribution Channel
Chapter 37. Rest of ASEAN Frozen Food Market Analysis
37.1. Key Insights
37.2. Market Size and Forecast, 2018 - 2031 (US$ Mn and Mn Kg)
37.2.1. By Product Type
37.2.2. By Distribution Channel
Chapter 38. Rest of APAC Frozen Food Market Analysis 38.1. Key Insights
38.2. Market Size and Forecast, 2018 - 2031 (US$ Mn and Mn Kg)
38.2.1. By Product Type
38.2.2. By Distribution Channel
Chapter 39. Saudi Arabia Frozen Food Market Analysis
39.1. Key Insights
39.2. Market Size and Forecast, 2018 - 2031 (US$ Mn and Mn Kg)
39.2.1. By Product Type
39.2.2. By Distribution Channel
Chapter 40. UAE Frozen Food Market Analysis
40.1. Key Insights
40.2. Market Size and Forecast, 2018 - 2031 (US$ Mn and Mn Kg) 40.2.1. By Product Type
40.2.2. By Distribution Channel
Chapter 41. Egypt Frozen Food Market Analysis
41.1. Key Insights
41.2. Market Size and Forecast, 2018 - 2031 (US$ Mn and Mn Kg)
41.2.1. By Product Type
41.2.2. By Distribution Channel
Chapter 42. South Africa Frozen Food Market Analysis
42.1. Key Insights
42.2. Market Size and Forecast, 2018 - 2031 (US$ Mn and Mn Kg)
42.2.1. By Product Type
42.2.2. By Distribution Channel
Chapter 43. Rest of MEA Frozen Food Market Analysis
43.1. Key Insights
43.2. Market Size and Forecast, 2018 - 2031 (US$ Mn and Mn Kg)
43.2.1. By Product Type
43.2.2. By Distribution Channel
Chapter 44. Argentina Frozen Food Market Analysis
44.1. Key Insights
44.2. Market Size and Forecast, 2018 - 2031 (US$ Mn and Mn Kg)
44.2.1. By Product Type
44.2.2. By Distribution Channel
Chapter 45. Brazil Frozen Food Market Analysis
45.1. Key Insights 45.2. Market Size and Forecast, 2018 - 2031 (US$ Mn and Mn Kg)
45.2.1. By Product Type
45.2.2. By Distribution Channel
Chapter 46. Rest of South America Frozen Food Market Analysis
46.1. Key Insights
46.2. Market Size and Forecast, 2018 - 2031 (US$ Mn and Mn Kg)
46.2.1. By Product Type
46.2.2. By Distribution Channel
Chapter 47. Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Business Strategy Outlook)
47.1. Ajinomoto Co., Inc.
47.2. Associated British Foods PLC 47.3. Cargill inc.
47.4. CJ Foods
47.5. ConAgra Brands, Inc.
47.6. General Mills Inc.
47.7. Grupo Bimbo S.A.B. De C.V
47.8. Kellogg Company
47.9. Lantmannen Unibake International
47.10. Maruha Nichiro Holding Inc.
47.11. Mccain Foods Limited
47.12. Nestle SA
47.13. NH Foods Ltd. 47.14. Nichirei Corporation
47.15. Nissui Corporation
47.16. The Kraft Heinz Company
47.17. Tyson Foods, Inc.
47.18. Unilever
47.19. Other Prominent Players

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Ajinomoto Co., Inc.
  • Associated British Foods PLC
  • Cargill inc.
  • CJ Foods
  • ConAgra Brands, Inc.
  • General Mills Inc.
  • Grupo Bimbo S.A.B. De C.V
  • Kellogg Company
  • Lantmannen Unibake International
  • Maruha Nichiro Holding Inc.
  • Mccain Foods Limited
  • Nestle SA
  • NH Foods Ltd.
  • Nichirei Corporation
  • Nissui Corporation
  • The Kraft Heinz Company
  • Tyson Foods, Inc.
  • Unilever

Table Information

Report AttributeDetails
No. of Pages984
PublishedJanuary 2024
Forecast Period2023 - 2031
Estimated Market Value ( USD ) in 2023 $ 331.83 Billion
Forecasted Market Value ( USD ) by 2031 $ 732.41 Billion
Compound Annual Growth Rate10.7%
Regions CoveredGlobal

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