Global frozen food market is estimated to be valued at USD 298.69 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 5.1% from 2024 to 2031. Global frozen food market has witnessed significant growth over the past few decades due to changing lifestyles and busy schedules of consumers worldwide. Frozen foods offer convenience and ease of preparation as these can be stored for longer durations and cooked quickly as per the requirement. Moreover, the frozen food manufacturing process helps retain nutrients, flavor and taste of food for a longer time. The market continues to evolve with product innovation and introduction of organic, natural and premium frozen food products catering to rising health-consciousness. New technologies enable enhanced freezing which minimizes nutrient loss. Rising population, income levels and urbanization can drive the growth of global frozen food market in the near future.
Market Dynamics:
Global frozen food market is expected to witness growth at a rapid pace over the forecast period due to factors such as increasing demand for convenience food owing to busy lifestyles, rising population, growing disposable income and expanding retail landscape especially in developing regions. However, high energy costs associated with freezing food products as well as perceived risks of loss of nutrients are some of the factors that can hamper market growth. Introduction of organic, natural and premium frozen food products to cater to evolving consumer preferences around health and wellness offers significant opportunities for frozen food manufactures. Moreover, development of sustainable and eco-friendly freezing technologies also presents new opportunities for the market growth.
Key Features of the Study:
- This report provides in-depth analysis of the global frozen food market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year.
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
- It profiles key players in the global frozen food market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
- Key companies covered as a part of this study include Ajinomoto Co., Inc., Conagra Brands, Inc., Nestle SA, General Mills, Inc., Kraft Heinz Company, Unilever Group, Kellogg Company, McCain Foods Limited, Nomad Foods Ltd., The Schwan Food Company, Tyson Foods, Inc., JBS S.A., Birds Eye Limited, Hormel Foods Corporation, Dr. Oetker GmbH, Amy's Kitchen Inc., Nichirei Corporation, Findus Group, Goya Foods Inc., Pinnacle Foods Inc.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
- Global frozen food market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global frozen food market.
Detailed Segmentation-
- By Type:
- Frozen Ready Meals
- Frozen Seafood & Meat Products
- Frozen Snacks & Bakery Products
- Others
- By Distribution Channel:
- Supermarkets/Hypermarkets
- Convenience Stores
- Specialty Stores
- Online Retail
- By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Company Profiles:
- Ajinomoto Co., Inc.
- Kellogg Company
- Conagra Brands, Inc.
- Nestle SA
- General Mills, Inc.
- Kraft Heinz Company
- Unilever Group
- Kellogg Company
- McCain Foods Limited
- Nomad Foods Ltd.
- The Schwan Food Company
- Tyson Foods, Inc.
- JBS S.A.
- Birds Eye Limited
- Hormel Foods Corporation
- Dr. Oetker GmbH
- Amy's Kitchen Inc.
- Nichirei Corporation
- Findus Group
- Goya Foods Inc.
- Pinnacle Foods Inc.