The growing availability of seasonal foods is propelling the frozen food sector forward. The increased popularity of seasonal food due to customers' hectic lifestyles and the opportunity to enjoy seasonal fruits and vegetables throughout the year is propelling market expansion. Consumers' misconceptions about the nutritional worth of frozen food products are impeding demand. Originally, it was thought to be a poor substitute for fresh food and harmful to one's health. It is also processed food with preservatives added. This is a significant impediment to the expansion of the frozen food business. Tight government restrictions and regulations regarding the storage of frozen food items, along with the availability of superior replacements such as fresh food goods, are reducing demand for frozen food products. Consumers' busy lifestyles as a result of demanding work cultures are mostly driving frozen food industry growth. Food is a crucial commodity, and demand for frozen food items is projected to increase globally under pandemic and post-pandemic circumstances.
According to Coherent Market Insights, Global Frozen Food Market was valued at US$ 167116.37 Million in 2021 in terms of revenue, exhibiting a CAGR of 4.84 % during the forecast period (2022 to 2030).
Key Companies in the Frozen Food industry:
1. Nestlé S.A.
Nestlé S.A., together with its subsidiaries, operates as a food and beverage company The company was founded in 1866 and is headquartered in Vevey, Switzerland. On October 2022, Nestle SA is acquiring Seattle’s Best Coffee from Starbucks Corp., Seattle. Terms of the agreement were not disclosed.
2. Ajinomoto Co., Inc.
Ajinomoto Co., Inc. engages in the seasonings and foods, frozen foods, and healthcare and other businesses in Japan and internationally. The company operates through three segments: Seasonings and Foods; Frozen Foods; and Healthcare and others. The company was founded in 1909 and is headquartered in Tokyo, Japan. Ajinomoto Co. Inc. Acquires Cambrooke Therapeutics, Inc. on November 10, 2017
3. Kraft Foods Group, Inc.
The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States, Canada, the United Kingdom, and internationally. The Kraft Heinz Company was founded in 1869 and is based in Pittsburgh, Pennsylvania. On March 25, 2015 /PRNewswire/ -- 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. 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. Conagra Brands, Inc. was founded in 1919 and is headquartered in Chicago, Illinois.
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. 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. On Feb. 20, 2023 Tyson Foods, Inc. has signed an agreement to acquire Williams Sausage Company, Inc. of Union City, Tenn., both companies
7. Maple Leaf Foods, Inc.
Maple Leaf Foods Inc. produces food products in the United States, Canada, Japan, China, and internationally. It produces various food products, including prepared meats, ready-to-cook and ready-to-serve meals, snacks kits, fresh pork and poultry, and plant protein products. Founded in 1991, headquartered in Ontorio, Canada. ON, Jan. 11, 2021 Maple Leaf Foods announced that its wholly-owned subsidiary, Greenleaf Foods, SPC, a leader in plant protein products, is advancing plans to increase tempeh production capacity through the acquisition and planned build-out of a food processing plant in Indianapolis, Indiana
8. Pinnacle Foods, Inc.
Millions of times a day, in more than 85% of American households, consumers reach for Pinnacle Foods brands. Pinnacle Foods Group, headquartered in Parsippany, NJ, employs more than 4,300 employees in North America and is ranked on Fortune Magazine’s 2011 Top 1000 companies list. Founded in 1998. Conagra Brands Inc. (CAG), the packaged foods company, announced Wednesday it is acquiring Pinnacle Foods Inc. (PF) in a cash and stock deal valued at $10.9 billion, on June 2018.
*Deifintion- Frozen food is kept at low temperatures to extend its shelf life and allow it to be consumed for an extended length of time. Vegetables and fruits, meat and poultry, ready meals, soup, and seafood are all examples of frozen foods.
