Description
Frozen Food Manufacturing Market
The Frozen Food Manufacturing Market to surpass USD 494.47 billion by 2030 from USD 227.09 billion in 2020 at a CAGR of 8.09% in the coming years, i.e., 2020-30.
Product Overview
Frozen food is a preserved food that can be conveniently used from the time it is prepared to the time it is eaten. Freezing of food decelerates the decomposition by turning the remaining moisture of the food into ice. This process of freezing prevents the growth of bacteria. The food commodity industry follows two processes: mechanical and cryogenic which also called flash freezing. Freezing food is a vital process to maintain the texture and quality of the food. Frozen foods consist of crystalline ice inside freeze-concentrated solids. They are tempered or thawed before foster processing.
Market Highlights
Frozen Food Manufacturing Market is expected to project a notable CAGR of 8.09% in 2030.
Increasing consumption of shelf-stable foods among today’s youngsters and elderly has projected to expand the growth of the Frozen Food Manufacturing Market, globally. Hectic work style and eating habits of consumers have made them lethargic to cook at home which has prompted the demand for Frozen Food on a large scale. Primary factors such as rapid urbanization, high personal income, and globalization are an aid to fuel the global market growth. The rising adoption of plant-based and vegan food products across the world is becoming major influencers for the varying market trends.
Frozen Food Manufacturing Market: Segments
Vegetables & Fruits segment to grow with the highest CAGR during 2020-30
The frozen Food Manufacturing Market is segmented by Product Type into Fruits & Vegetables, Dairy, Sea Food, Meat & Poultry, Baked Products, Refrigerated Soups, and Others. The Fruits & Vegetable segment is expected to register lucrative growth in the Frozen Food Manufacturing Market attributable to the protracted shelf-life and high nutrient-rich food products. Moreover, French fries, pizza, burgers, and other fast foods are expected to boom the food industry. Also, the Baked Products segment is estimated to enhance the Food market, owing to its properties such as betterment of quality, taste, and freshness, and consuming less preparation time.
Supermarket segment to grow with the highest CAGR during 2020-30
The frozen Food Manufacturing Market is segmented by Distribution Channel into Supermarket, Offline, and Online. The Supermarket segment is anticipated to dominate the Frozen Food Manufacturing Market. According to Food Industry Association (FIA), 43% of the sale of the overall grocery exemplifies the entire market share by revenue for frozen foods per annum. Further, temperature-controlled and freezing facilities in the offline segment and convenience stores tend to bolster the Frozen Food Manufacturing Market on the Global gradation.
Market Dynamics
Drivers
Increasing adoption of ready-to-eat food products
The Frozen Food market is being compelled by the rising adoption of ready-to-eat frozen foods due to changing lifestyles and busy working schedules. Consumer shift in the eating customs for fresh and organic foods are predicted to impact the global market. Additionally, globalization, escalating disposable income, fleet urbanization, and several major aspects tend to aid the Global food market
Adoption of safety and regulatory measures
Rising safety and regulatory measures are rapidly adopted by the global manufacturers. Through civilization of per capita income and shifting of food habits in an individual has propelled the demand for frozen foods in an international market. The increasing acceptance of RTE food products has always been a prime aspect of the global growth of the frozen food market. Moreover, developed and urban provincial sectors are playing a vital role in the propagation of this trend.
Restraints
Increasing demand for natural and fresh food products
Frozen food is considered to be an inferior alternate for fresh and natural food products which is deterring the worldwide growth for the Frozen Food Manufacturing Market. Uncertain speculations regarding frozen food set to hinder the market growth. However, FDA and IFIC ousted the myth that the prolonged storage of food reduces its quality and texture after a certain period. The shortfall of cold chain infrastructure in the emerging economies can threaten the Frozen Food Manufacturing Market globally.
COVID-19 Impact
At the initial stage of the COVID pandemic, almost every country across the world bared the stern restrictions and several guidelines imposed by every respective government. This dreadful site around the world thrust the demand for frozen food products due to their protracted shelf-life and no causing effect to the quality. Moreover, customers are highly favoring frozen food items via online grocery stores. These Global market trends are stimulating the entire Frozen Food Manufacturing Market growth. In addition to this, stringent government regulations regarding the trade of non-essential products and a threat of stigma through producing services aided to deteriorate. The epidemic continued to negatively hamper the market growth. Conversely, Frozen Food Market is projected to mend the damage over the forecast period as in point of fact it is a ‘black swan event in the Global market. The surge in the demand for frozen foods owing to its possessions of preserving nutrition for a long time and higher shelf life compared to other fresh vegetables, fruits, and meat which are also estimated to fuel the market growth.
Frozen Food Manufacturing Market: Key Players
Amy’s Kitchen
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Con Agra Brands
Tyson Foods Inc.
Grupo Bimbo
McCain Foods Limited
Unilever Plc
Kellogg Co.
Nestle SA
Schwan’s Company
Lamb Weston Holdings Inc.
Other Prominent Players
Frozen Food Manufacturing Market: Regions
Frozen Food Manufacturing Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. Europe is projected to be the largest market for frozen food. The region is severely and largely hit by the COVID-19 pandemic. According to government data, more than 50 thousand people pass away due to coronavirus infection. Moreover, the U.K., Belgium, and the Netherlands have also been brutally hit by this pandemic. This has boosted gigantic demand for frozen food in Europe within coronavirus wreck. Moreover, Asia-Pacific is also projected to hold the fastest-growing market share by revenue owing to mounting drift for ready-to-eat food among the working people of emerging economies such as India and China. The ongoing trend of maintaining social distance has likely prompted the extent of shelf-stable food products, that will assist inflation in the global food market.
Frozen Food Manufacturing Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Frozen Food Manufacturing Market report also contains analysis on:
By Product Type
Fruits & Vegetables
Dairy
Sea Food
Meat & Poultry
Baked Products
Refrigerated Soups
Others
By Consumption
Food Service
Retail
By Distribution Channel
Supermarket
Convenience Store
Offline
Online
Frozen Food Manufacturing Market Dynamics
Frozen Food Manufacturing Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
Frozen Food Manufacturing Market Report Scope and Segmentation
Report Attribute Details
Market size value in 2020 USD 227.09 billion
Revenue forecast in 2030 USD 494.47 billion
Growth Rate CAGR of 8.09% from 2021 to 2030
Base year for estimation 2020
Quantitative units
Revenue in USD million and CAGR from 2021 to 2030
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered Product Type, Consumption, Distribution Channel Region
Regional scope North America; Europe; Asia Pacific; Latin America; Middle East & Africa (MEA)
Key companies profiled
Amy’s Kitchen, Con Agra Brands, Tyson Foods Inc., Grupo Bimbo, McCain Foods Limited
Unilever Plc, Kellogg Co., Nestle SA, Schwan’s Company, Lamb Weston Holdings Inc., and other prominent players
Frequently Asked Questions
Q1.How large is the Frozen Food Manufacturing Market?
Q2.What is the Frozen Food Manufacturing Market growth?
Q3.Which segment is projected to bolster the Market share in the future?
Q4.Which regional market is highly dominating Frozen Food Manufacturing Market?
Q5. What are the factors driving the Frozen Food Manufacturing Market?
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