To retain quality, frozen processed food products are kept at appropriate temperatures. They are viewed as natural and nutritious food products, which is supporting market expansion. With less time to prepare healthful meals, a rising percentage of customers prefer ready-to-eat meals. This tendency is having a particularly strong influence on the frozen processed food business in nations such as India, the United States, China, and the Philippines. The growing popularity of gluten-free dietary choices among consumers, owing to the many health benefits provided by these goods, will drive the market for gluten-free ready meals even further. For example, Halo Top, an ice cream brand owned by Wells Enterprises, Inc., debuted a range of fruity frozen desserts with new sorbet pints in March 2022. Additionally, rising disposable incomes are fueling the expansion of this sector. The growing preference for fresh and natural food products, as well as the growing need for constant temperature monitoring, are expected to slow the frozen foods market growth rate, while a lack of cold chain infrastructure in developing economies will be a restraint on the frozen processed food market over the forecast period.
According to Coherent Market Insights, Global Frozen Processed Food Market was valued at US$ 167115.0 Mn in 2021 in terms of revenue, exhibiting a CAGR of 4.84% during the forecast period (2022 to 2030).
Prominent Companies in the Frozen Processed Food Industry:
1. Nestle S.A.
Nestle is the largest food and beverage manufacturer in the world by sales. Its diverse product portfolio includes brands such as Nestle, Nescafe, Perrier, Pure Life, and Purina. The company was founded in 1865, headquartered in Switzerland. On October 2022, Nestle SA is acquiring Seattle’s Best Coffee from Starbucks Corp., Seattle. Terms of the agreement were not disclosed.
2. ConAgra Foods, Inc.
Conagra Brands, Inc., together with its subsidiaries, operates as a consumer packaged goods Food Company in North America. The company operates in four segments: Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice. The company sells its products under the Birds Eye, Duncan Hines, Healthy Choice, Marie Callender's, Reddi-wip, Slim Jim, Angie's BOOMCHICKAPOP, Duke's, Earth Balance, Gardein, and Frontera brands. Conagra Brands, Inc. was founded in 1919 and is headquartered in Chicago, Illinois. In June 2021, Conagra Brands Inc launched its extensive summer line products to provide manufacturers inside single-serve frozen meals and collect brands with new Banquet, Marie Callender's, Wholesome Alternative, and Hungry Man dishes. Conagra's mission is to provide nutritious frozen foods.
3. Kraft Foods Group, Inc.
Operator of a food and beverage company. The company's product line offers refreshment beverages, coffee products, cheese and other grocery products to consumers around the globe. The company was founded in 1903, headquartered in U.S. On March 25, 2015 H.J. Heinz Company and Kraft Foods Group, Inc. announced that they have entered into a definitive merger agreement to create The Kraft Heinz Company, forming the third largest food and Beverage Company in North America with an unparalleled portfolio of iconic brands
4. BRF S.A.
BRF S.A. focuses on raising, producing, and slaughtering poultry and pork for processing, production, and sale of fresh meat, processed products, pasta, margarine, and other products. BRF S.A. operates primarily in Brazil, the Americas, Europe, the Middle East, Africa, Asia, and internationally. BRF S.A. was founded in 1934 and is headquartered in Itajaí, Brazil.
5. General Mills, Inc.
General Mills, Inc. manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. General Mills, Inc. was founded in 1866 and is headquartered in Minneapolis, Minnesota. On JUNE 22, 2022 General Mills announced it has completed the acquisition of TNT Crust. TNT Crust is a manufacturer of high-quality frozen pizza crusts for regional and national pizza chains, foodservice distributors, and retail outlets.
6. Maple Leaf Foods Inc.
Maple Leaf Foods Inc. produces food products in the United States, Canada, Japan, China, and internationally. The company produces various food products, including prepared meats, ready-to-cook and ready-to-serve meals The Company is headquartered in Mississauga, Canada. Founded in 1991.
7. Tyson Foods, Inc.
Tyson Foods, Inc., together with its subsidiaries, operates as a food company worldwide. It operates through four segments: Beef, Pork, Chicken, and Prepared Foods. The company was founded in 1935 and is headquartered in Springdale, Arkansas.
8. Unilever Plc
Unilever PLC operates as a fast-moving consumer goods company. It operates through Beauty & Wellbeing, Personal Care, Home Care, Nutrition, and Ice Cream segments. Nutrition segment provides the sale of scratch cooking aids, which includes soups, bouillons, and seasonings; dressing’s products, such as mayonnaise and ketchup; and beverages and functional nutrition products including Horlicks and Boost, as well as tea products. The company was founded in 1860 and is headquartered in London, the United Kingdom.
*Definition- To limit microbial growth and maintain the quality of processed foods over time, processed foods are frozen.
