Growing demand for convenience food items drives the frozen food market to make the frozen food market a USD 348 billion industry by 2030. :

December 2022, Market Research Future has published a Report on the Global Frozen Foods Market

The global frozen foods market is expected to reach USD 348 billion by 2030. The rising popularity of easy-to-cook, time-saving meals, and convenient food items are the primary drivers of the frozen food market. People having hectic lifestyles look for options to create meals that save time and provide the comfort of self-cooked food.

The instant deliveries provided by food delivery companies and online grocery stores are helping the frozen foods market to grow exponentially. Thus, the rise of demand for easy food items, reduction in cook time, and online grocery delivery companies will show a significant growth rate in the frozen food market.

Regional Analysis

The European Union is anticipated to show the strongest growth in the frozen and refrigerated foods market. European Union held about 39.90% in the year 2019. The working population living a busy life combined with higher purchasing power and increased income has led to greater demand for frozen food.

On similar grounds, North America is also anticipated to show a significant demand for frozen foods. In the Asia-Pacific region, China has delivered exponential growth and is expected to show strong growth in the future. A higher middle class and availability of dispensable income are expected to be why Asia-Pacific exhibits the highest growth rate in the forecast period.

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Market Segmentation

The frozen foods market is segmented based on service, technology, type, and vertical.

By Service

Based on the service provided by the frozen food manufacturing companies, there are plant-forward foods. This includes innovative processes to create plant-based meat. The majority of consumers have a demand for such innovative and healthy frozen food manufacturing.

By Technology

The use of technology to increase the nutrient concentration in frozen foods and to bring variety is driven by the advancement of technology. Another benefit of technology is to create recyclable boxes and resaleable products. They show the advantages of preserving frozen foods better, having a better shelf life, retaining the nutritional value of the food for a longer time, and being environmentally friendly.

By Type

Based on type, the frozen foods market is bifurcated as follows:

  • Meat and poultry products

  • Frozen dinners and entrees

  • Frozen dairy desserts

  • Frozen pizza

  • Frozen fruits and vegetables

  • Various types of frozen potatoes

  • Frozen pieces of bread and raw dough

By Vertical

The vertical segment is based on the location of selling frozen food products. There are supermarkets, hypermarkets, specialty stores, retail stores, and online stores.

Key Players

Major frozen food manufacturing and food processing companies are as follows:

  • General Mills

  • Tyson Foods Inc

  • Grupo Bimbo

  • Conagra Brands Inc

  • Associated British Foods Plc

  • Nestle S.A.

  • Unilever Plc.

  • Ajinomoto Company

  • Kraft Heinz Company

  • McCain Foods Limited