Pune, India, Feb. 01, 2022 (GLOBE NEWSWIRE) — The global frozen food market size was USD 231.38 billion in 2020. The market is projected to grow from USD 256.46 billion in 2021 to USD 385.04 billion in 2028 at a CAGR of 5.98% during the 2021-2028 period.
This information is provided by Fortune Business Insights, in its report, titled, “Frozen Food Market, 2021-2028.”
As per the research conducted by our expert analysts, the market is observing advanced growth owing to the growing demand for easily accessible food products such as ready-to-eat meals and cold cuts.
Decreased Manpower in Production Units amid COVID-19 to Obstruct Market Growth
This market witnessed an exponential rise in sales owing to the fright buying documented among consumers with the fear of global lockdown being imposed amid COVID-19 pandemic. Furthermore, frozen items pooled with other fundamental items were the instantaneous food products being sold in the primary days of lockdown owing to their elongated shelf life.
Get a Sample PDF Brochure:
Fortune Business Insights™ lists out all the frozen food market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:
- General Mills Inc. (Minnesota, U.S.)
- Nestle SA (Vevey, Switzerland)
- Conagra Brands Inc. (Illinois, U.S.)
- The Kellogg Company (Michigan, U.S.)
- Grupo Bimbo S.A.B. DE C.V. (Mexico City, Mexico)
- Lantmannen Unibake International (Copenhagen, Denmark)
- The Kraft Heinz Company (Illinois, U.S.)
- Unilever PLC (London, U.K.)
- Wawona Frozen Food (California, U.S.)
- Tyson Foods, Inc. (Arizona, U.S.)
We provide our reports which are directed with a comprehensive examination approach that mainly accentuates on supplying detailed material. Our scholars have applied a data triangulation technique, which further assists us to offer dependable assessments and test the general market circumstances precisely. Further, our analysts have attained admission to various global as well as locally financed records for providing the updated material in order for the sponsors and business professionals to invest only in indispensable zones.
Drivers and Restraints:
Rising Demand for Convenience Food to Bolster Market
The processed food industry is preliminarily powered by the convenience provided by packaged foods, which entice consumers from all age groups. Consumer inclination towards convenience food and RTE foods has triggered a prompt change in the global market. Frozen Food need less effort as well as less time in comparison with cooking a complete meal from scratch, which is the prime aspect empowering the Frozen Food market growth.
Europe is projected to dominate the Frozen Food market share owing to the growing adoption of vegan lifestyle in the region, which is forecasted to navigate the sales of frozen veggies. The prime growth aspects in the region involve high consumer purchasing power, financial sturdiness, and change in food likings.
Asia Pacific documented a considerable growth in the global market owing to consumer acceptance of digital retailing platforms. The rising number of cold chain amenities in numerous developing nations is further aiding regional market growth.
North America is anticipated to hold the third-largest market share owing to high consumer consciousness concerning the profits of Frozen Food.
On the basis of type, the market is segregated into frozen ready meals, frozen seafood & meat products, frozen snacks & bakery products, and others. Among these, the frozen seafood & meat segment is anticipated to hold the major share in the market.
Based on distribution channel, the market is separated into Supermarket/Hypermarkets, Convenience Stores, Specialty Stores, and Online Retail.
Geographically, the global market is categorized into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Ground-breaking Product Presentation by Crucial Players to Direct Market Growth
The vital players in the market deploy numerous approaches to strengthen their position in the market as pioneering companies. One such considerable plan is attaining companies to upsurge the brand value between consumers. Another key strategy is persistently launching radical products with comprehensive assessment of the market and its target audience.
Browse Detailed Summary of Research Report with TOC:
Detailed Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Overview of the Parent/Related Markets
- Industry SWOT Analysis
- Supply Chain Analysis
- Recent Industry Developments – Policies, Partnerships, and Mergers & Acquisitions
- Qualitative Analysis Related to COVID-19
- Impact of COVID-19 on the Market
- Supply Chain Challenges amidst Pandemic
- Potential Opportunities due to this Global Crisis
- Global Frozen Food MarketAnalysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type
- Frozen Ready Meals
- Frozen seafood & meat products
- Frozen snacks & bakery products
- By Distribution Channel
- Convenience Stores
- Specialty Stores
- Online Retail
- By Region
- North America
- Asia Pacific
- South America
- Middle East & Africa
- By Type
June 2021: Pilgrim’s Pride Corporation acquired the Meats and Meals business possessed by Kerry Consumer Foods in the U.K. and Ireland. This procurement is anticipated to fortify PPC’s portfolio by including renowned brands such as Richmond, Denny, and Fridge Raiders to its brand collection.
Inquire Before Buying This Research Report:
Have a Look at Related Research Insights:
Frozen Yogurt Market Size, Share & COVID-19 Impact Analysis, By Flavors (Chocolate, Mango, Banana, Pineapple, Strawberry, and Others), Fat Contents (Low fat (0.5%-2%) and No fat (<0.5%)), Distribution Channel (Specialty Stores, Online, Supermarket/Hypermarket, Retailers, and Others) and Regional Forecasts, 2021 – 2028
Processed Vegetable Market Size, Share & Industry Analysis, By Product Type (Dried, Frozen, Canned, Juice, Others), By Distribution Channels (Supermarket/Hypermarket, Convenience Store, Speciality Stores, Online Retail) and Regional Forecast, 2022-2029
Processed Dairy Products Market Size, Share & Industry Analysis, By Type (Fluid Milk, Butter, Cheese, Frozen Dairy Desserts, Cultured Dairy Products, Others), By Distribution Channel (Mass Merchandisers, Convenience Stores, Specialty Stores, Online Retail, Others) and Regional Forecast, 2022-2029
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Fortune Business Insights Pvt. Ltd.9th Floor, Icon Tower, Baner –
Mahalunge Road, Baner, Pune-411045,
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245