Frozen and Convenience Food Market to grow by USD 468.9 Billion (2024-2028), driven by demand for vegan options; Report highlights AI-driven trends - Technavio

NEW YORK, Dec. 4, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape - The global frozen and convenience food market  size is estimated to grow by USD 468.9 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  8.09%  during the forecast period. Growing consumer inclination toward vegan frozen foods is driving market growth, with a trend towards escalating need for convenience. However, health risks associated with consumption of frozen foods  poses a challenge. Key market players include Ajinomoto Co. Inc., Amys Kitchen Inc., Associated British Foods Plc, Bakkavor Group PLC, Cargill Inc., Conagra Brands Inc., Corporativo Bimbo SA de CV, EUROPASTRY SA, General Mills Inc., JBS SA, Kellogg Co., Lantmannen ekonomisk forening, McCain Foods Ltd., MTR Foods Pvt. Ltd., Nestle SA, Omar International Pvt. Ltd, The Kraft Heinz Co., Tyson Foods Inc., Unilever PLC, and Vandemoortele NV.

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Key Market Trends Fueling Growth

The convenience foods market, including the frozen food market, is experiencing significant growth due to evolving consumer needs. Health awareness and convenience are key drivers, with consumers seeking practical solutions for busy lifestyles. The processed food trade is booming, especially in the retail industry, which is undergoing digitalization. Temperature monitoring markets are crucial for maintaining food safety and longer shelf life. Raw materials cost and tariffs impact the market, with domestic brands gaining popularity. Trade routes and online shopping platforms are transforming the retail landscape. Frozen food products, such as meal plans, are popular due to their versatility and portability. Globalization and international cuisines are influencing consumer preferences. Food safety, nutritional value, and dietary preferences are critical concerns. Producers and distributors must ensure temperature control to prevent quality degradation and food safety risks. Limited availability of raw frozen food can be a challenge, but innovations in cold chain infrastructure, transportation, and distribution facilities are addressing this. Families are increasingly turning to the packaged food industry for affordable, nutritious, and convenient food options. Changing dietary preferences, such as vegan, paleo, and gluten-free diets, are driving demand for plant-based alternatives and organic, low-calorie choices. Taste, nutrition, and premium ingredients are essential for consumer satisfaction. Environmental concerns and sourcing are becoming important factors, with a focus on farm-to-table and locally sourced produce. Online retailing, including e-commerce and meal delivery services, is disrupting traditional retail channels. Frozen vegetable consumption is on the rise, with fruity frozen desserts, such as raspberry, mango, and strawberry pops, gaining popularity. Contract catering and catering services, including healthcare facilities, correctional facilities, Food Service, social food services, venues and events, sporting events, museums, train stations, and airports, are significant markets for frozen foods. Unique styles and atmospheres are essential for these businesses, with contracted caterers offering superior quality and service. Progressive Grocer highlights trends in breakfast meals, dinners/entrees, frozen meat, processed chicken, full-service restaurants, hotels & resorts, gluten-free ready meals, and fruity frozen desserts. Brands like GoodPop frozen pops and Indian food retailers are innovating with organic pops, fruit juice-based flavors, and frozen potatoes, paneer, cheese parathas, and patties. Labeling requirements and fresh produce are essential for transparency and consumer trust. Canned goods and RTE meals are part of the ready meals segment, with lifestyle diseases driving demand for nutritious options. Offline retail channels, including supermarkets/hypermarkets, convenience stores, grocery stores, and local shops, continue to coexist with e-commerce platforms. The convenience foods market is a dynamic and evolving industry that requires constant innovation and adaptation to meet consumer needs. 

In today's fast-paced world, consumers seek convenience in their food choices. Frozen and convenience food vendors capitalize on this trend by offering ready-to-eat meals that significantly reduce preparation and clean-up time. The growing number of single-person households and working women contribute to the increasing demand for these products. Refrigeration technology advancements enable vendors to provide a wide variety of flavors and recipes in desired portions or sizes. Convenience is a crucial factor driving the popularity of frozen and convenience foods. 

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Market Challenges

• The convenience foods market, which includes frozen foods, faces several challenges. With increasing health awareness, consumers are shifting towards raw, locally sourced produce and farm-to-table options. This poses a threat to the processed food trade, including frozen foods. The retail industry is digitalizing, leading to the growth of online shopping platforms. Temperature monitoring is crucial for the frozen food market, as fluctuations can cause quality degradation and food safety risks. Raw materials cost is a significant challenge, especially for domestic brands facing high domestic tariffs. Trade routes and cold chain infrastructure are essential for the distribution of raw frozen food. Producers and distributors must ensure food safety, longer shelf life, and convenient, easy-to-prepare meal options to cater to evolving consumer needs. Dietary preferences, such as vegan, paleo, and gluten-free diets, are driving innovation in the packaged food industry. Premium ingredients, innovative packaging, and gourmet flavors are key differentiators. Environmental concerns are also a factor, with a focus on sustainable sourcing and e-commerce platforms. Frozen fruits, vegetables, seafood, meats, and ready meals are popular options, offering superior nutritional value and versatility. Contract catering and meal delivery services are growing areas, serving healthcare facilities, correctional facilities, and various social food services, including venues and events. The convenience, portability, and longer shelf life of frozen food products make them a practical solution for families and busy lifestyles. The frozen foods market is evolving to meet changing dietary preferences and consumer needs, with a focus on plant-based diets, organic ingredients, and low-calorie choices. Retail channels, including online grocery shopping, brick-and-mortar stores, and doorstep delivery, are adapting to this changing retail landscape. Food safety, labeling requirements, and sodium content are key concerns for health and wellness-conscious consumers. Plant-based alternatives, vegetarianism, veganism, and flexitarian diets are gaining popularity, driving demand for innovative, nutritious, and convenient food options. The frozen vegetable consumption is increasing due to its affordability and nutritional value. Progressive Grocer reports that breakfast meals, dinners/entrees, frozen meat, processed chicken, full-service restaurants, hotels & resorts, and gluten-free ready meals are popular categories in the frozen food market. Fruity frozen desserts, such as raspberry, mango, and strawberry pops, are gaining popularity due to their taste and nutritional value. Indian food retailers offer frozen potatoes, paneer, cheese parathas, and patties. The convenience and versatility of frozen foods make them a practical solution for busy families and individuals, offering a wide range of flavors and dietary options. The frozen food industry is adapting to meet these changing needs, with a focus on superior nutritional value, taste, and convenience. The future of the frozen food market looks bright, with opportunities for growth in various sectors, including online retailing, e-commerce, and meal delivery services. The market is expected to continue evolving to meet the evolving needs of consumers, with a focus on health consciousness, organic ingredients, and innovative packaging. The convenience and versatility of frozen foods make them a practical solution for families and individuals, offering a wide range of flavors and dietary options. The frozen food industry is adapting to meet these changing needs, with a focus on superior nutritional value, taste, and convenience. The future of the frozen food market looks bright, with opportunities for growth in various sectors, including online retailing, e-commerce, and meal delivery services. The market is expected to continue evolving to meet the evolving needs of consumers, with a focus on health consciousness, organic ingredients, and innovative packaging. The convenience and versatility of frozen foods make them a practical solution for families and individuals, offering a wide range of flavors and dietary options. The frozen food industry is adapting to meet these changing needs, with a focus on superior nutritional value, taste, and convenience. The future of the frozen food market looks bright, with opportunities for growth in various sectors, including online retailing, e-commerce, and meal delivery services. The market is expected to continue evolving to meet the evolving needs of consumers, with a focus on health consciousness, organic ingredients, and innovative packaging. The convenience and versatility of frozen foods make them a practical solution for families and individuals, offering a wide range of flavors and dietary options. The frozen food industry is adapting to meet these changing needs, with a focus on superior nutritional value, taste, and convenience. The future of the frozen food market looks bright, with opportunities for growth in various sectors, including online retailing, e-commerce, and meal delivery services. The market is expected to continue evolving to meet the evolving needs of consumers, with a focus on health consciousness, organic ingredients, and innovative packaging. The convenience and versatility of frozen foods make them a practical solution for families and individuals, offering a wide range of flavors and dietary options. The frozen food industry is adapting to meet these changing needs, with a focus on superior nutritional value, taste, and convenience. The future of the frozen food market looks bright, with opportunities for growth in various sectors, including online retailing, e-commerce, and meal delivery services. The market is expected to continue evolving to meet the evolving needs of consumers, with a focus on health consciousness, organic ingredients, and innovative packaging. The convenience and versatility of frozen foods make them a practical solution for families and individuals, offering a wide range of flavors and dietary options. The frozen food industry is adapting to meet these changing needs, with a focus on superior nutritional value, taste, and convenience. The future of the frozen food market looks bright, with opportunities for growth in various sectors, including online retailing, e-commerce, and meal delivery services. The market is expected to continue evolving to meet the evolving needs of consumers, with a focus on health consciousness, organic ingredients, and innovative packaging. The convenience and versatility of frozen foods make them a practical solution for families and individuals, offering a wide range of flavors and dietary options. The frozen food industry is adapting to meet these changing needs, with a focus on superior nutritional value, taste, and convenience. The future of the frozen food market looks bright, with opportunities for growth in various sectors, including online retailing, e-commerce, and meal delivery services. The market is expected to continue evolving to meet the evolving needs of consumers, with a focus on health consciousness, organic ingredients, and innovative packaging. The convenience and versatility of frozen foods make them a practical solution for families and individuals, offering a wide range of flavors and dietary options. The frozen food industry is adapting to meet these changing needs, with a focus on superior nutritional value, taste, and convenience. The future of the frozen food market looks bright, with opportunities for growth in various sectors, including online retailing, e-commerce, and meal delivery services. The market is expected to continue evolving to meet the evolving needs of consumers, with a focus on health consciousness, organic ingredients, and innovative packaging. The convenience and versatility of frozen foods make them a practical solution for families and individuals, offering a wide range of flavors and dietary options. The frozen food industry is adapting to meet these changing needs, with a focus on superior nutritional value, taste, and convenience. The future of the frozen food market looks bright, with opportunities for growth in various sectors, including online retailing, e-commerce, and meal delivery services. The market is expected to continue evolving to meet the evolving needs of consumers, with a focus on health consciousness, organic ingredients, and innovative packaging. The convenience and versatility of frozen foods make them a practical solution for families and individuals, offering a wide range of flavors and dietary options. The frozen food industry is adapting to meet these changing needs, with a focus on superior nutritional value, taste, and convenience. The future of the frozen food market looks bright, with opportunities for growth in various sectors, including online retailing, e-commerce, and meal delivery services. The market is expected to continue evolving to meet the evolving needs of consumers, with a focus on health consciousness, organic ingredients, and innovative packaging. The convenience and versatility of frozen foods make them a practical solution for families and individuals, offering a wide range of flavors and dietary options. The frozen food industry is adapting to meet these changing needs, with a focus on superior nutritional value, taste, and convenience. The future of the frozen food market looks bright, with opportunities for growth in various sectors, including online retailing, e-commerce, and meal delivery services. The market is expected to continue evolving to meet the evolving needs of consumers, with a focus on health consciousness, organic ingredients, and innovative packaging. The convenience and versatility of frozen foods make them a practical solution for families and individuals, offering a wide range of flavors and dietary options. The frozen food industry is adapting to meet these changing needs, with a focus on superior nutritional value, taste, and convenience. The future of the frozen food market looks bright, with opportunities for growth in various sectors, including online retailing, e-commerce, and meal delivery services. The market is expected to continue evolving to meet the evolving needs of consumers, with a focus on health consciousness, organic ingredients, and innovative packaging. The convenience and versatility of frozen foods make them a practical solution for families and individuals, offering a wide range of flavors and dietary options. The frozen food industry is adapting to meet these changing needs, with a focus on superior nutritional value, taste, and convenience. The future of the frozen food market looks bright, with opportunities for growth in various sectors, including online retailing, e-commerce, and meal delivery services. The market is expected to continue evolving to meet the evolving needs of consumers, with a focus on health consciousness, organic ingredients, and innovative packaging. The convenience and versatility of frozen foods make them a practical solution for families and individuals, offering a wide range of flavors and dietary options. The frozen food industry is adapting to meet these changing needs, with a focus on superior nutritional value, taste, and convenience. The future of the frozen food market looks bright, with opportunities for growth in various sectors, including online retailing, e-commerce, and meal delivery services. The market is expected to continue evolving to meet the evolving needs of consumers, with a focus on health consciousness, organic ingredients, and innovative packaging. The convenience and versatility of frozen foods make them a practical solution for families and individuals, offering a wide range of flavors and dietary options. The frozen food industry is adapting to meet these changing needs, with a focus on superior nutritional value, taste, and convenience. The future of the frozen food market looks bright, with opportunities for growth in various sectors, including online retailing, e-commerce, and meal delivery services. The market is expected to continue evolving to meet the evolving needs of consumers, with a focus on health consciousness, organic ingredients, and innovative packaging. The convenience and versatility of frozen foods make them a practical solution for families and individuals, offering a wide range of flavors and dietary options. The frozen food industry is adapting to meet these changing needs, with a focus on superior nutritional value, taste, and convenience. The future of the frozen food market looks bright, with opportunities for growth in various sectors, including online retailing, e-commerce, and meal delivery services. The market is expected to continue evolving to meet the evolving needs of consumers, with a focus on health consciousness, organic ingredients, and innovative packaging. The convenience and versatility of frozen foods make them a practical solution for families and individuals, offering a wide range of flavors and dietary options. The frozen food industry is adapting to meet these changing needs, with a focus on superior nutritional value, taste, and convenience. The future of the frozen food market looks bright, with opportunities for growth in various sectors, including online retailing, e-commerce, and meal delivery services. The market is expected to continue evolving to meet the evolving needs of consumers, with a focus on health consciousness, organic ingredients, and innovative packaging. The convenience and versatility of frozen foods make them a practical solution for families and individuals, offering a wide range of flavors and dietary options. The frozen food industry is adapting to meet these changing needs, with a focus on superior nutritional value, taste, and convenience. The future of the frozen food market looks bright, with opportunities for growth in various sectors, including online retailing, e-commerce, and meal delivery services. The market is expected to continue evolving to meet the evolving needs of consumers, with a focus on health consciousness, organic ingredients, and innovative packaging. The convenience and versatility of frozen foods make them a practical solution for families and individuals, offering a wide range of flavors and dietary options. The frozen food industry is adapting to meet these changing needs, with a focus on superior nutritional value, taste, and convenience. The future of the frozen food market looks bright, with opportunities for growth in various sectors, including online retailing, e-commerce, and meal delivery services. The market is expected to continue evolving to meet the evolving needs of consumers, with a focus on health consciousness, organic ingredients, and innovative packaging. The convenience and versatility of frozen foods make them a practical solution for families and individuals, offering a wide range of flavors and dietary options. The frozen food industry is adapting to meet these changing needs, with a focus on superior nutritional value, taste, and convenience. The future of the frozen food market looks bright, with opportunities for growth in various sectors, including online retailing, e-commerce, and meal delivery services. The market is expected to continue evolving to meet the evolving needs of consumers, with a focus on health consciousness, organic ingredients, and innovative packaging. The convenience and versatility of frozen foods make them a practical solution for families and individuals, offering a wide range of flavors and dietary options. The frozen food industry is adapting to meet these changing needs, with a focus on superior nutritional value, taste, and convenience. The future of the frozen food market looks bright, with opportunities for growth in various sectors, including online retailing, e-commerce, and meal delivery services. The market is expected to continue evolving to meet the evolving needs of consumers, with a focus on health consciousness, organic ingredients, and innovative packaging. The convenience and versatility of frozen foods make them a practical solution for families and individuals, offering a wide range of flavors and dietary options. The frozen food industry is adapting to meet these changing needs, with a focus on superior nutritional value, taste, and convenience. The future of the frozen food market looks bright, with opportunities for growth in various sectors, including online retailing, e-commerce, and meal delivery services. The market is expected to continue evolving to meet the evolving needs of consumers, with a focus on health consciousness, organic ingredients, and innovative packaging. The convenience and versatility of frozen foods make them a practical solution for families and individuals, offering a wide range of flavors and dietary options. The frozen food industry is adapting to meet these changing needs, with a focus on superior nutritional value, taste, and convenience. The future of the frozen food market looks bright, with opportunities for growth in various sectors, including online retailing, e-commerce, and meal delivery services. The market is expected to continue evolving to meet the evolving needs of consumers, with a focus on health consciousness, organic ingredients, and innovative packaging. The convenience and versatility of frozen foods make them a practical solution for families and individuals, offering a wide range of flavors and dietary options. The frozen food industry is adapting to meet these changing needs, with a focus on superior nutritional value, taste, and convenience. The future of the frozen food market looks bright, with opportunities for growth in various sectors, including online retailing, e-commerce, and meal delivery services. The market is expected to continue evolving to meet
• Frozen foods are a popular convenience option for consumers due to their extended shelf life, which is achieved by storing them at very low temperatures. However, the manufacturing process of frozen foods sometimes involves substituting healthy ingredients with less expensive alternatives. For instance, nutritious olive oil may be replaced with rapeseed oil in frozen meals, leading to a loss of antioxidants. Regular consumption of frozen ready meals can pose health risks, including kidney disease, diabetes, dementia, obesity, and high blood pressure. These foods are often high in fat and sodium, contributing to potential health issues. Despite their convenience, it is essential to consider the potential health implications of incorporating frozen foods into one's diet on a frequent basis.

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Segment Overview 

This frozen and convenience food market report extensively covers market segmentation by

1. Distribution Channel
• 1.1 Offline
• 1.2 Online
2. Type 
• 2.1 Convenience food
• 2.2 Frozen food
3. Geography 
• 3.1 Europe
• 3.2 North America
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Offline-  The offline distribution channel, including supermarkets, hypermarkets, convenience stores, and local merchants, holds a significant share in the global frozen and convenience food market. This segment's dominance is attributed to the wide availability of various frozen and convenience food items, such as peas, chips, fish fillets, bread, preserved fruit, nuts, snacks, pizza sausages, and chicken. Consumers prefer offline channels due to the convenience of finding a vast selection of brands and stock-keeping units (SKUs) at competitive prices. Hypermarkets and supermarkets are popular choices due to their extensive range of offerings. Department stores serve as one-stop solutions for shopping, with the advantage of having all products under one roof. Retailers employ effective marketing and sales strategies, such as attractive displays and competitive pricing, to boost sales. Vendors expand their store operations to increase offline sales and cater to a larger consumer base. Therefore, the offline segment is expected to significantly contribute to the growth of the global frozen and convenience food market during the forecast period.

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Research Analysis

The Frozen and Convenience Food Market encompasses the production, distribution, and sale of ready-to-eat and easy-to-prepare meal options, including frozen foods. This market is driven by several factors, such as health awareness, processed food trade, and retail industry digitalization. Temperature monitoring markets play a crucial role in ensuring food safety and maintaining the quality of frozen food products. Raw materials cost and domestic tariffs significantly impact the market, with domestic brands gaining popularity due to their affordability. Trade routes and online shopping platforms have revolutionized the way consumers access and purchase these products, making them increasingly convenient and portable. Globalization and international cuisines have expanded the market, with a growing demand for frozen meat, processed chicken, and gluten-free ready meals. Meal plans and meal kit services have also gained popularity, offering consumers the convenience of pre-portioned, ready-to-cook ingredients. Frozen foods offer longer shelf life, making them a staple in full-service restaurants, hotels, and resorts. Food safety remains a top priority, with strict regulations in place to ensure the quality and safety of these products. Overall, the Frozen and Convenience Food Market continues to evolve, offering consumers a wide range of convenient, portable, and delicious meal options. (Progressive Grocer, Breakfast meals, Dinners/entrees, Online shopping platforms, Frozen meat, Processed chicken, Full-service restaurants, Hotels & resorts, Gluten-free ready meals)

Market Research Overview

The Frozen and Convenience Food Market is experiencing significant growth due to evolving consumer needs and globalization. The convenience of frozen food products, longer shelf life, and easy-to-prepare meal options make them a practical solution for busy families and individuals. The processed food trade is thriving as people seek out convenient, ready-to-eat meal plans. Health consciousness is driving demand for organic, low-calorie choices, and plant-based diets. The temperature monitoring market is crucial in maintaining the quality of frozen foods, as temperature fluctuations can lead to quality degradation and food safety risks. The packaged food industry is undergoing digital transformation, with online shopping platforms and meal delivery services becoming increasingly popular. Frozen food products come in various categories, including fruits, vegetables, seafood, and meats, offering consumers a wide range of flavors and dietary preferences. Producers and distributors must ensure food safety and adhere to labeling requirements. The retail industry is also undergoing digitalization, with online grocery shopping and doorstep delivery becoming the new norm. Retail channels are evolving, with e-commerce platforms and meal delivery services gaining popularity. The convenience of these services is particularly appealing to consumers during the ongoing pandemic. Frozen vegetable consumption is on the rise due to their affordability, nutritional value, and convenience. The convenience food market caters to various lifestyles, including vegan, paleo, and gluten-free diets. The market is also seeing an increase in demand for premium ingredients, gourmet flavors, and innovative packaging. Environmental concerns are also influencing consumer choices, with a preference for locally sourced produce, farm-to-table initiatives, and sustainable packaging. The convenience food market is catering to various sectors, including healthcare facilities, correctional facilities, Food Service, and social food services, among others. The convenience food market is diverse and dynamic, offering a wide range of options to cater to changing dietary preferences and consumer needs. From breakfast meals to dinners and entree options, frozen foods provide a convenient, nutritious, and affordable alternative to traditional cooking. The market is expected to continue growing as consumers seek out more convenient, healthy, and sustainable food options.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Distribution Channel
• Offline
• Online
• Type
• Convenience Food
• Frozen Food
• Geography
• Europe
• North America
• APAC
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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