Frozen Food Market By Product Type (Frozen Meat & Seafood, Frozen Fruits & Vegetables, Frozen Potatoes, Frozen Ready-to-eat Meals, Others), By Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Online Channels, Others), By Packaging Type (Rigid Packaging, Flexible Packaging) - Growth, Future Prospects & Competitive Analysis, 2018 – 2026

Industry Outlook

The global market for frozen food stood at US$ 252.77 Bn in 2017 and is expected to reach US$ 442.46 Bn by 2026, growing at a CAGR of 6.6% during the forecast period from 2018 to 2026. Europe dominated the market in 2017 and is expected to retain its leading position throughout the forecast period. However, Asia Pacific is identified as the fastest growing market during the forecast period.

Food products subject to rapid freezing and kept frozen until consumed are termed frozen food. Frozen food products provide enormous advantages over fresh food products, such as flavor and nutritional values. For example, fruits & vegetables are harvested at the height of their nutritional value and are frozen quickly, which aids in the retention of essential vitamins and the natural fresh taste. Further, frozen food offers high quality, uniformity, and consistency, and they are also easy to prepare. Moreover, consumption of frozen food products results in minimal wastage as consumers only prepare the amount required for consumption and store the rest. In addition, frozen food such as fruits & vegetables are never out of season. These factors have resulted in high inclination toward consuming frozen food products among the Millenials.

High demand for convenience food in developed economies such as Germany, U.K., U.S., Canada and France, among others has resulted in the steady growth of the frozen food market. Demand for convenience food, especially among the millenials, has surged significantly over the past few years on account of changing lifestyles and consumption patterns. The rising number of working females, coupled with the rapid emergence of nuclear families, is another key factor augmenting the market growth of frozen food. Prevalence of nuclear families is fairly high in U.S. In 2017, married couples with children accounted for more than 35% of the entire number of family households in the country, while a single mother with children accounted for more than 50% in the same year. Nuclear families refrain from cooking food for themselves and their children and focus mostly on the consumption of frozen food items, which help them to store the food items for a longer period of time without it getting contaminated or spoiled. These factors have urged the manufacturers operating in the frozen food industry to focus more on introducing newer products for their customers and on packaging innovations to attract more consumers. However, a major chunk of the population are still inclined toward the consumption of fresh food products, which is a key factor resulting in the slowdown of the frozen food market at present.

Market Synopsis: Value

Frozen Food Market

Frozen Ready-to-eat Meals Dominated the Market and Expected to Display Similar Trend in the Coming Years

Based on product type, frozen ready-to-eat meals accounted for the dominant share in n 2017 and is expected to retain its position throughout the forecast period. Despite the widespread availability of fresh food, ready-to-eat meals have made its way into several households, acting as a convenient food product for consumers who do not find the time to cook food every day. Further, the increasing availability of a wide array of frozen ready-to-eat meals such as lasagna, pasta, pizzas, and soups in supermarkets & hypermarkets has led to a shift in the focus of the consumers toward such food items, leading to the high growth of the ready-to-eat meals segment.

Further in September 2018, JD.com announced that it will expand its premium offline chain of supermarkets called 7Fresh in China with 1,000 new stores with the intention of promoting its ‘boundary-less retail’ service. The stores will be launched in Guangzhou, Shanghai, and Chengdu over the next five years. 7Fresh was launched in the first quarter of 2018, combining the technology of JD.com and the offline shopping experience. This development is expected to push the market growth of frozen ready-to-eat meals in China in the coming years.

Frozen Food Market

Emerging Nations Expected to Drive Future Growth of Frozen Food Market

Europe and North America dominate the global market for frozen food in 2017. High consumer demand for frozen food products is one of the key factors augmenting frozen food market growth in these regions. The frozen food sector in developing nations such as the U.S. has witnessed a rapid change over the past few years, with significant improvements in quality and taste. As a result, products have become more consumer-centric and shopper traffic in the frozen food section has increased significantly. Frozen ready-to-eat meals ranked among the top picks of consumers in the U.S. Further, Nestle S.A. dominated the frozen pizza category in 2016, with DiGiorno being the preferred brand of frozen pizza among consumers.

Emerging nations such as the Asia Pacific and Latin America is expected to generate the fastest growth during the forecast period with China, India, Australia, Brazil and Japan leading the growth of the frozen food market in the region. Buoyant income growth in these countries has paved the way for the middle-class population to experience newer goods & services. As a result, China, India and Brazil are expected to be ranked among the top ten consumer markets in the world and are expected to generate revenues worth US$ 3.4 Bn, 1.3 Bn and US$ 0.7 Bn, respectively by 2025. This is expected to create more opportunities in the frozen food market in these countries in the coming years. Steady growth of the service sector coupled with the rising female working population and transition in the consumption pattern of the millenials have contributed to the growth of the frozen food market in the developing regions. Further, growth of convenience retail in emerging nations has resulted in an expanding portfolio of new products in the frozen food market.

The changing lifestyles of the Millenials in India have created multiple opportunities for several market players spanning several industries. The emergence of nuclear families, rising acceptance of western food, and the rising demand for on-the-go fresh cooked food are some of the factors responsible for the steady growth of the frozen food market in the country. Frozen ready-to-eat meals have gained significant popularity among consumers owing to their convenience. In addition, the growing working population coupled with the higher purchasing power of consumers in India are contributing to the growth of the frozen ready-to-eat meals category.

Frozen Food Market

Product Development is one of the Key Strategies of the Companies Operating in the Frozen Food Market.

Notable players operating in the global frozen food market include Ajinomoto Co. Inc., Bonduelle Group, ConAgra Foods Inc., General Mills Inc., Kraft-Heinz Company, McCain Foods, Nestle S.A., Pinnacle Foods Inc., Tyson Foods Inc., and Unilever Plc among others.

In April 2017, Ajinomoto Co. Inc. launched eight varieties of frozen Japanese food products throughout France. The company aims to enhance its brand image of the company among French households. The market for Japanese food products in France grew by approximately 15% from 2016, which is due to the increase in the number of Japanese restaurants in the country. This strategy is expected to strengthen the company’s brand image in France. Further, in September 2016, Ajinomoto Co. Inc. expanded its frozen food business in North America by launching Japanese-style Ramen Noodles in the region. The frozen food market in North America is highly lucrative with Asian food being the preferred type of cuisine among the consumers in the region. Therefore, this launch is expected to improve the sales of the frozen food business in North America.

Historical & Forecast Period

2016 – Historical Year

2017 – Base Year

2018-2026 – Forecast Period

Our study analyzed each market segment from 2016 to 2026, with 2017 as the base year. Forecast period between 2018 and 2026 is considered for the CAGR calculation.

Report Scope

The report enlightens the thorough outline of the global frozen food market by categorizing the market in different segments given below:

Product Type Segment (2016–2026; Kilo Tons, US$ Bn)

  • Frozen Meat & Seafood
    • Frozen Poultry
    • Frozen Seafood
    • Others
  • Frozen Fruits & Vegetables
    • Frozen Fruits
    • Frozen Vegetables
  • Frozen Potatoes
  • Frozen Ready-to-eat Meals
    • Frozen Pizza
    • Frozen Soups
    • Others
  • Frozen Desserts
  • Others (frozen cakes & pastries, frozen waffles, etc.)

Distribution Channel Segment (2016–2026; Kilo Tons, US$ Bn)

  • Supermarkets & Hypermarkets
  • Convenience Stores
  • Online Channels
  • Others (grocery stores, departmental stores)

Packaging Type Segment (2016–2026; Kilo Tons, US$ Bn)

  • Rigid Packaging
  • Flexible Packaging

Geography Segment (2016–2026; Kilo Tons, US$ Bn)

  • North America
    • United States
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Rest of Europe
  • Asia Pacific (APAC)
    • China
    • India
    • Japan
    • Rest of Asia Pacific
  • Latin America (LATAM)
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa (MEA)
    • GCC
    • Rest of Middle East & Africa

Frozen Food Market

This research report describes leading continents and their major countries, profiles of key players operating in the overall market, and planned developments. Our report further defines the overall market dynamics such as drivers, challenges, and opportunities prevalent in the market to understand the global frozen food market more explicitly. Our in-depth quantitative and quantitative analysis of each segment up to the country level highlights revenue pockets and investment opportunities in the market.

Key questions answered in this report

  • Who are the major manufacturers and distributors operating in the frozen food market?
  • What are the largest segments in the market during the forecast period from 2018 to 2026?
  • Which are the fastest growing segments in the market for the forecast period?
  • What are the current market trends in the frozen food market and valuable opportunities for the players?
  • How are the regulatory frameworks affecting the global as well as regional markets?
  • Which are the key players operating in the global market and their strategies?
  • What is the market size and trend in emerging and developed markets?
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Published Date:  Oct 2018
Category:  Food & Beverage
Report ID:   57931
Report Format:   PDF
Pages:   120
Rating:    4.5 (70)
Delivery Time: 24 Hours to 48 Hours   
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