USD 256.46 billion
Report ID:
SQMIG30I2189 |
Region:
Global |
Published Date: December, 2024
Pages:
157
|Tables:
124
|Figures:
77
Frozen Food Market size was valued at USD 271.8 Billion in 2023 and is poised to grow from USD 288.05 Billion in 2024 to USD 458.42 Billion by 2032, growing at a CAGR of 5.98% during the forecast period (2025-2032).
Frozen Foods are becoming popular since It has many advantages such as the wastage of food is reduced, it provides convenience to the food purchaser, free from preservatives, no seasonal restriction, great nutrition.These are some myriad reasons why people all around the globe are purchasing frozen foods.
Frozen products help in extending the shelf life of food and are easier to divide in portions.The research published by British Food Journal shows that frozen food generates 47% less food waste at home than the non frozen food. This list with wastage of food helps the customer in terms of cost as well as to the environment too.In today's busy and environment where each and every person across the globe is working.Fresh, fast and delicious products are necessary to consume.All the major boxes are ticked by frozen products for the meals. Therefore the major working population of the globe is shifting towards the frozen products.The frozen food products are picked, washed and blanched within the hour of freezing. Therefore preservatives are not required because microorganisms do not grow when the temperature of the food is below -9.5 degrees Celsius.
US Frozen Food Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 256.46 billion
Largest Segment
Supermarkets/Hypermarkets
Fastest Growth
Supermarkets/Hypermarkets
Growth Rate
5.98% CAGR
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Global Frozen Food Market is segmented by Product, Consumption, Type, Distribution Channel, Freezing Technique and region. Based on Product, the market is segmented into Fruits & Vegetables, Dairy Products, Bakery Products (Proofed, Fully Baked), Meat & Seafood Products (Poultry, Red Meat, Fish/Seafood), Plant-based protein, Convenience Food & Ready Meals, Pet Food, Other Products. Based on Consumption, the market is segmented into Food Service, Retail. Based on Type, the market is segmented into Raw Material, Half-cooked, Ready-to-Eat. Based on Distribution Channel, the market is segmented into Online, Offline. Based on Freezing Technique, the market is segmented into Individual Quick Freezing (IQF), Blast Freezing, Belt Freezing. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Frozen Food Market Analysis by Distribution channel
By Distribution channel, the global market is divided into many segments such as Supermarkets/Hypermarkets, Convenience Stores, Online Channels, and Other Distribution Channels. The offline segment held the largest global Frozen Food market share due to the wide range of benefits provided by it to Frozen Food.The offline channels majorly include supermarket, hypermarket, convenience stores, grocery stores and local shops.Easy access to various stores offline Will help the market to grow in future as well. As the digitization all across the globe is increasing, the online distribution channel is anticipated to register the rapid CAGR from 2022 to 2030. Emergence and increase in ecommerce platform has compelled the marketers and manufacturers in developed and developing countries to structure their retail strategy in the online market.
Frozen Food Market Analysis by Type
By Type, the Frozen Food market is classified into Frozen Fruits and Vegetables, Frozen Meat and Fish, Frozen-cooked Ready Meals, Frozen Desserts, Frozen Snacks, and Other Product Types. The Frozen cooked ready meals segment is one of the Demanding segments for innovation and growth across all Global frozen food markets. It is considered a game-changer in the Global food industry. There are many products across the world that are long bones in the frozen cooked ready mills segment.Increasing prevalence of lifestyle diseases all the consumers across the globe are shifting towards fruit and vegetable segment as many of them do not need to wash, peel or chop the product.
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Globally, North America is estimated to hold the highest global Frozen Food market share. Main factors during this growth period are the Single serving auction and ease in preparation and others.
Above all, Europe is expected to grow fastest during the forecast period. The reason for the same is increasing acquisition of Frozen Food technology in the region.Rise in vegan population, high consumer purchasing power, economic stability and change in food preference lead with the domination of Europe in the frozen food market.
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Frozen Food Market Drivers
Increasing Popularity of Ready-Made Food to Bolster Market Growth
Frozen Food Market Restraints
Inclination towards Holistic Food Consumption to Hinder Market Growth
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Competition in the global Frozen Food market is expected to increase during the forecast period because new players are expected to enter in the global market and the number of Products compatible with Frozen Food will also increase. Currently, only a few key players are providing their services in the global market but these numbers will increase in the upcoming years.
Frozen Food Market Top Player’s Company Profiles
Frozen Food Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global Frozen Food market analysis, the global market is estimated to have significant growth during the forecast period because of the benefits it consists of such as Better convenience. Frozen Foods will enable Products to be more convenient for their users. The market has so much potential for new players also because of the high expected rate of growth and demand.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 271.8 Billion |
Market size value in 2032 | USD 458.42 Billion |
Growth Rate | 5.98% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Frozen Food Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Frozen Food Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Frozen Food Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Frozen Food Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG30I2189
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