Frozen Foods Market: Information By Type (Frozen [Fruits & Vegetables, Meat & Poultry and Seafood], Frozen Processed [Bakery Products, Dairy & Desserts, Meat & Poultry, Seafood, Soups and Others], Distribution Channel (Store-Based [Supermarkets & Hypermarkets, Convenience Stores and Others] and Non-Store-Based) and Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast 2027

ID: VPR/F&B/1090 Publishing Year: January 2022 Pages: 116 Format:   


Frozen Foods Market Overview:

On a Global Scale, the growing relevance of Ready-to-Eat (RTE) food products as a result of hectic lives among working-class individuals is predicted to grow the industry growth in the coming years. Furthermore, rising consumer expenditure on shelf-stable foods is expected to boost the Frozen Food Market In the near future.

The rising trend of employment around the world has shifted consumers' tastes towards Ready-to-Eat (RTE) food products, which take less time to prepare. Consumers have less time to cook at home due to their hectic work schedules, which has fueled demand for frozen products such as Frozenpotatoes, ready meals, pork, and fish.

Key Players:

  • General Mills (USA)
  • Tyson Foods Inc (USA)
  • Grupo Bimbo (Mexico)
  • Conagra Brands Inc (USA)
  • Associated British Foods Plc (UK)
  • Nestle S.A. (Switzerland)
  • Unilever Plc. (UK)
  • Ajinomoto Company (Japan)
  • Kraft Heinz Company (USA)
  • McCain Foods Limited (Canada)

Market Drivers:

As consumers become more accustomed to convenience foods, Frozenitems are inadvertently favoured since they take less time and effort to prepare than fresh foods. Because of customers' busy lifestyles, the processed food business is driven by a higher need for convenience. As a result, the demand for Frozenitems rises. Increasing disposable income is another aspect that has a significant impact on the Frozen Food Market's Growth because it boosts consumers' purchasing power.

Restraints:

One of the primary limitations for this industry is the perception among some consumers that Frozen Food is a poor alternative for fresh food. There's a popular belief that food cooked a year or more before consumption isn't nutritious. However, remarks from the US Food and Drug Administration (FDA) and the International Food Information Council (IFIC) about the nutrient value of Frozen Food, such as "frozen vegetables can be just as good as the fresh stuff in terms of nutrition," are shifting consumer perceptions. Vitamin C and folate are two nutrients that can alter with temperature, and food items stored at different temperatures might lose their nutrients. Frozen meals do not lose critical nutrients because they are kept at a constant low temperature.

Market Segmentation:

Product type, type, freezing technology, consumption, and distribution channel are all used to segment the Frozen Foods Industry. The growth of segments allows you to study specific pockets of growth and market approaches, as well as establish your main application areas and target market differences.

The Frozen Foods Market is divided into fruits and vegetables, frozen dairy goods, bread products, meat and seafood products, convenience foods and ready meals, and others based on product category. Frozen Fruits and vegetables have been separated from fresh fruits and vegetables. Frozen veggies are further divided into frozen potato and other categories. Bakery products are further divided into bread and pizza crusts, among other categories.The frozen foods industry is divided into three types: raw material, partly cooked, and ready-to-eat.

Regional Analysis:

In terms of region, Europe was the most important market in 2019, accounting for the largest proportion. Consumer spending power and economic stability are two of the most important factors driving product market growth in the European region. Furthermore, the busy lifestyle of customers is a major driver of the Frozen Food Market's Growth. Due to an increase in health-conscious consumers in the region, the frozen ready-to-eat healthy breakfast niche has grown in popularity in recent years. Because it is home to multiple food and bakery businesses, Europe has been one of the most lucrative markets for Frozen Food. Furthermore, these market players are constantly working to expand their market share through effective research and development and product innovation. In addition, businesses are forming strategic alliances with one another in order to use each other's strengths and outperform their competitors. Aryzta, for example, has maintained its dominance in the high-end frozen bakery sector thanks to its efficient operational excellence and research and development capabilities. Due to the existence of emerging countries, Asia-Pacific is expected to have the highest demand for Frozen Food during the forecast period. Manufacturers from all over the world are investing in these economies, which is expected to increase demand for Frozen Foods in Asia-Pacific.

Covid-19 Impact:

The epidemic devastated India's Frozen Food Industry, and numerous well-known producers suffered significant losses as a result of the closure of restaurants. The general market, on the other hand, had a mixed impact, with both positive and negative growth. On the one hand, demand from food service industries has decreased, while online sales of packaged ready-to-eat snacks have increased dramatically. During the shutdown, customers looking for Frozen Snacks in local flavours aided in the introduction of new product lines. Consumers' attitudes toward processed frozen food products improved when the items were manufactured and packaged in a sanitary manner, assuring sanitization. During the nationwide lockdown, online orders for Frozen Meals and consumables soared as well. During the COVID-19 crisis, the government also implemented initiatives like as the Integrated Development of Horticulture (MIDH), which provided financial assistance for the construction and enhancement of cold storage facilities throughout India.

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