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According to the latest report published by Credence Research, Inc. “Global Frozen Food Market - Growth, Future Prospects and Competitive Analysis, 2018-2026,” the global frozen food market was valued at US$ 252.77 Bn in 2017, expected to grow at a CAGR of 6.6% from 2018 to 2026.Market Insights
Frozen food is stored below zero degrees for retaining the moisture content at a solid state, which enhances the preservation period of the frozen food product as compared to their fresh counterparts. Refrigeration allows the consumers with the access to seasonal food items, especially frozen fruits & vegetables and also allows them store the food products for future consumption. Moreover, frozen food products contain high amounts of minerals and vitamins because refrigeration helps in preservation, without the addition of preservatives and also prevents microbial growth that can cause spoilage of the food item.
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Transition in the consumption pattern of the millenials is one of the major factors responsible for the growth of the frozen food market at present. Millenials are driven towards the consumption of frozen food due to convenience, as frozen foods require lesser amount of time to prepare which helps to save a considerable amount of time spent on cooking.
Moreover, this trend is also supported by the rising number of working females, which has witnessed considerable increase over the past decade. Countries such as U.S., Canada, Germany, France, and U.K. among others have a high percentage of working females, which is augmenting market growth of frozen food in these countries. Robust growth of the food service industry is another key factor resulting in a steady market growth of the frozen food market.
Based on product type, frozen ready-to-eat meals dominated the market in 2017 and expected to display a promising growth in the coming years on account of rapid adoption of such food items among millenials. Premiumization is a key factor responsible for the growth of the ready-to-eat meal segment. Strengthening economic condition of countries such as U.K. has urged the consumers shift to the purchase of premium products, which in turn has led the manufacturers to focus on bring out new offerings in the ready-to-eat meals category in order to satisfy the demand of the consumers.
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This trend has resulted in reduced demand for traditional food products in the country. Based on distribution channel, supermarkets & hypermarkets dominated the market in 2017. Consumer inclination towards supermarkets & hypermarkets is the highest due to the availability of a huge variety of frozen food products and the freedom of choosing from multiple brands.
North America and Europe are matured markets for frozen food. Consumers in these regions are more inclined towards the consumption of frozen food products compared to fresh food products, which is a key factor driving the growth of the frozen food market. In Germany, food products aiding in convenience witnessed a positive growth in 2017, with frozen ready-to-eat meals topping the charts. The frozen food market in Europe is witnessing a rapid expansion, the growth of which is majorly attributed to the rising consumer desire for convenience. Sale of frozen food products is noted to the be the highest in the Western European countries such as U.K., Germany, France and the Benelux countries, where the trend of convenient food products is the highest compared to the other regions in Europe.
Further, 2017 witnessed a significant rise in demand for frozen fruits & vegetables in Europe as well. The rise in demand is majorly attributed to the emergence of new products being introduced in this category coupled with growing awareness regarding the availability of such products. Further, shortage in the supply of fresh fruits & vegetables is another key factor for the increased inclination of the consumers towards the consumption of frozen fruits & vegetables in Europe.
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Key players operating in the global frozen food market includes 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.
Product Type Segment (2016–2026; Kilo Tons, US$ MBn)
Frozen Meat & Seafood
Frozen Fruits & Vegetables
Frozen Potatoes
Frozen Ready-to-eat Meals
Frozen Desserts
Distribution Channel Segment (2016–2026; Kilo Tons, US$ Bn)
Supermarkets & Hypermarkets
Convenience Stores
Online Channels
Others (grocery stores, departmental stores)
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Packaging Type Segment (2016–2026; Kilo Tons, US$ Bn)
Rigid Packaging
Flexible Packaging
Geography Segment (2016–2026; Kilo Tons, US$ Bn)
North America
Europe
Asia Pacific (APAC)
Latin America (LATAM)
Middle East & Africa (MEA)
Key questions answered in this report:
Who are the major manufacturers and distributors operating in 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 the strategies adopted by them?
What is the market size and trend in emerging and developed markets?
Browse the full report Global Frozen Food Market 2018-2026 at https://www.credenceresearch.com/report/frozen-food-market
Table of Content:
Chapter 1. Preface........
Chapter 2. Executive Summary........
Chapter 3. Market Dynamics ........
Chapter 4. Global Frozen Food Market, by Product Type ........
Chapter 5. Global Frozen Food Market, by Distribution Channel ........
Chapter 6. Global Frozen Food Market, by Packaging Type ........
Chapter 7. Global Frozen Food Market, by Geography ........
Chapter 8 Company Profiles
8.1 Ajinomoto Co. Inc.
8.2 Bonduelle Group
8.3 ConAgra Foods Inc.
8.4 General Mills Inc.
8.5 Kraft-Heinz Company
8.6 McCain Foods
8.7 Nestle S.A.
..................... toc continued
Browse the full report Global Frozen Food Market - Growth, Future Prospects and Competitive Analysis, 2018-2026 at https://www.credenceresearch.com/report/frozen-food-market
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Credence Research is a worldwide market research and counseling firm that serves driving organizations, governments, non legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives. Over almost a century, we've manufactured a firm extraordinarily prepared to this task.
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