Frozen Food Market to Reach $408.05 Billion by 2022 - Market Size, Share, Forecasts, & Trends Analysis Report with COVID-19 Impact by Meticulous Research®

News provided by

Dec 06, 2022, 08:00 ET

REDDING, Calif., Dec. 6, 2022 /PRNewswire/ -- According to a new market research report titled, "Frozen Food Market by Product (Ready Meals, Meat & Poultry, Seafood, Dairy Products, Bakery Products, Vegetables, and Fruits), Type (Raw, Half-cooked, and Ready-to-eat), and Distribution Channel (B2B and B2C) - Global Forecasts to 2029,'' the frozen food market is expected to grow at a CAGR of 5.2% from 2022 to 2029 to reach $408.05 billion by 2029.

Download Free Report Sample Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5313

Frozen food is defined as food products preserved under low temperatures and used over a long period. Nowadays, busy schedules influence consumers to shift their dietary preferences towards ready-to-eat food products. Hence, frozen foods have become an important part of the modern diet.

The growth of this market is backed by the increasing demand for convenience food, the growing global cold-chain market, and changing consumer tastes and preferences. Moreover, the increasing digitalization in the retail industry and emerging economies in Asia-Pacific, Latin America, and the Middle East & Africa provide significant growth opportunities in this market.

However, the rising preference for fresh and natural food products and constant temperature monitoring requirements obstruct the growth of this market to some extent. On the other hand, the lack of cold chain infrastructure in developing economies poses a challenge to frozen food manufacturers.

Increasing Demand for Convenience Food to Drive the Growth of the Frozen Food Market

Consumer demand for convenience foods has grown substantially over the past decades. Consumers are more inclined toward convenience food products, such as baked goods, confectioneries, beverages, and other ready meals, owing to their instant nature, to cut down the preparation and handling time of the food. The demand for dinner time solutions by present-day consumers is increasing rapidly, as consumer meal consumption behavior is shifting drastically. While individuals increasingly lack the time and skill to prepare food in their homes, many consumers are willing to spend money in the ready-to-eat market. In addition, the convenience trend in the U.S. and China is not a short-term phenomenon - it is here to stay. Increasing urbanization will likely help the convenience movement gain further traction.

Speak to our Analysts to Understand the Impact of COVID-19 on Your Business: https://www.meticulousresearch.com/speak-to-analyst/cp_id=5313

More than half of the world's population lives in urban areas, and virtually all the countries worldwide are becoming increasingly urbanized. According to the United Nations World Urbanization Report, the urban population of the world has grown rapidly from 439,498,772 in 2015 to 471,031,528 in 2019, which shows that almost 55% of the world's population lives in urban areas, a proportion that is expected to increase to 68% by 2050. As a result, urban consumers are gaining exposure to a much wider choice and better food availability than those living in rural areas. Also, this urbanization trend contributes significantly toward improved living standards and rising incomes, which influences the affordability of frozen food products to a greater extent.

Further, with the increasing urbanization, the demand for convenience food products is increasing rapidly, mainly due to the changing lifestyles, rising number of nuclear families, an increasing proportion of working women, and less time for food preparation. These factors create a strong case for the accelerated growth of the frozen food products market, as frozen food products have easy availability and have a long shelf life.

To provide efficient analysis, Meticulous Research^® has segmented this market based on product (ready meals, meat & poultry, seafood, dairy products, bakery products {bread, pizza crust, cakes & pastries, cookies & biscuits, doughnuts, waffles, and other frozen bakery products}, vegetables, fruits, and other frozen products), type (raw, half-cooked, and ready-to-eat), distribution channel (business-to-business {food services, food manufacturers, and quick service restaurants} and business-to-consumers {Offline [supermarkets & hypermarkets, convenience stores, and other stores] and online}), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa).

Based on product, the ready meals segment is expected to account for the largest share of the frozen food market in 2022. However, the seafood segment is expected to witness significant growth due to the rising consumption of fish for improved health and growing global aquaculture production. In addition, the growing demand for frozen seafood as a thickening agent in various end-use applications, has strengthened the growth of the frozen seafood market.

Quick Buy – Frozen Food Market - Global Opportunity Analysis And Industry Forecast (2022-2029), Research Report: https://www.meticulousresearch.com/Checkout/72718668

Based on type, the bread segment is expected to account for the largest share of the frozen bakery products market in 2022. The large share of this segment is mainly attributed to the rising bread consumption across the globe, growing preference for fast food, changing lifestyles, and an increasing number of ready-to-eat product chains and QSRs. Increasing consumer preference for healthy products is expected to further support the frozen bread segment's growth.

Based on type, the raw material segment is expected to account for the largest share of the frozen food market in 2022. The large share of this segment is mainly attributed to the increased awareness about the nutritional properties of raw frozen food, increasing incidences of obesity and other related diseases, and the growing number of raw labeled food and drink products. However, the ready-to-eat segment is expected to witness significant growth during the forecast period.

Based on distribution channel, the frozen food market is segmented into business-to-business (B2B) and business-to-consumer (B2C)..However, the business-to-consumer segment is expected to witness significant growth during the forecast period. The rapid growth of this segment is mainly attributed to the rising population density in urban areas, the increasing trend of online shopping, the rising popularity of the franchising concept, growing preference for personalization, consumer convenience, and greater product selection.

Based on geography, Asia-Pacific region is expected to witness rapid growth during the forecast period, owing to the changing lifestyle, increasing employment, growing Foreign Direct Investment (FDI) in the retail sector, increasing awareness regarding the importance of protein-rich diets, and growing demand for processed food products in emerging countries such as India, Indonesia, and Thailand and developed countries such as China. Additionally, the rising demand for western dairy products such as natural snacks, fermented dairy products, such as yogurt, sour milk, etc., further supports the growth of the frozen food market in the region.

Some of the key players operating in the frozen food market are General Mills, Inc. (U.S.), Conagra Brands, Inc. (U.S.), Nestlé S.A. (Switzerland), Unilever PLC (U.K.), Kellogg Company (U.S.), McCain Foods Limited (Canada), The Kraft Heinz Company (U.S.), Tyson Foods, Inc. (U.S.), Associated British Foods plc (U.K.), Ajinomoto Co., Inc. (Japan), Vandemoortele NV (Belgium), Lantmännen Unibake International (Denmark), Cargill, Incorporated (U.S.), Europastry, S.A. (Spain), JBS S.A. (Brazil), ARYZTA AG (Switzerland), and Nomad Foods Limited (U.K.), among others.

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/frozen-food-market-5313

Scope of the Report

Frozen Food Market, by Product

Ready Meals
Meat & Poultry
Seafood
Dairy Products
Bakery Products

Bread
Pizza Crust
Cakes & Pastries
Cookies & Biscuits
Doughnuts
Waffles
Other Frozen Bakery Products

Vegetables
Fruits
Other Frozen Products

Frozen Food Market, by Type

Raw
Half-cooked
Ready-to-eat

Frozen Food Market, by Distribution Channel

Business-to-Business (B2B)

Food Services
Food Manufacturers
Quick Service Restaurants (QSRs)

Business-to-Consumer (B2C)

Offline

Supermarkets & Hypermarkets
Convenience Stores
Other Stores

Online

Frozen Food Market, by Geography

North America

U.S.
Canada

Europe

Germany
U.K.
France
Italy
Spain
Rest of Europe (RoE)

Asia-Pacific (APAC)

China
Japan
South Korea
Australia
India
Rest of Asia-Pacific (RoAPAC)

Latin America

Brazil
Mexico
Argentina
Rest of Latin America (RoLATAM)

Middle East & Africa (MEA)

Download Free Report Sample Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5313

Related Reports:

Frozen Bakery Products Market by Product Type (Bread, Pizza Crust, Cookies and Biscuits, and Waffles), End Use (QSR, Hotels, Restaurants, and Catering, Bakery Chains, and Food Processing Industry), and Specialty (Low-Calorie and Organic) - Forecast to 2027

https://www.meticulousresearch.com/product/frozen-bakery-products-market-5130

Gluten-Free Products Market by Type (Bakery Products; Snacks, Savoury, & RTE Products; Pizzas & Pastas), Form (Solid, Liquid), Distribution Channel (Convenience Stores, Specialty Stores, Online Channels), and Source - Global Forecast to 2029

https://www.meticulousresearch.com/product/gluten-free-products-market-5263

Dairy Products Market (Milk, Cheese, Cream, Yoghurt, Milk Powder), Distribution Channel (Supermarket, Hypermarket, Specialty Store, Online Retailers) - Global Forecast to 2025

https://www.meticulousresearch.com/product/dairy-products-market-5020

CBD-infused Products Market by Source, Type (Confectionery, Bakery, Beverages, Coffee & Tea, Oil & Extracts, Personal Care Products, and Supplements), and Distribution Channel (Offline Store and Online Store) — Global Forecast to 2028

https://www.meticulousresearch.com/product/cbd-infused-products-market-5184

About Meticulous Research®

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

Contact:

Mr. Khushal Bombe
Meticulous Market Research Inc.
1267 Willis St, Ste 200 Redding,
California, 96001, U.S.
USA: +1-646-781-8004
Europe: +44-203-868-8738
APAC: +91 744-7780008
Email- [email protected]
Visit Our Website: https://www.meticulousresearch.com/
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research
Content Source: https://www.meticulousresearch.com/pressrelease/536/frozen-food-market-2029