Frozen Food Market Set to Reach USD 390 Billion by 2030, Growing at a CAGR of 5%

Frozen Food Market Set to Reach USD 390 Billion by 2030, Growing at a CAGR of 5%

According to Next Move Strategy Consulting, the global Frozen Food Market is projected to grow to USD 390 billion by 2030, registering a compound annual growth rate (CAGR) of 5% during the forecast by 2030.

Download Free Sample: https://www.nextmsc.com/frozen-food-market/request-sample

Frozen foods, which include precooked items stored under freezing conditions to extend shelf life and inhibit bacterial growth, are rapidly gaining traction among consumers worldwide. These foods offer significant convenience by reducing the time and effort required for meal preparation. As a result, frozen products such as frozen meals, vegetables, meat, poultry, and seafood are now integral components of the global food supply chain.

Market Dynamics and Trends
The increasing demand for frozen food is driven by several factors, including its long shelf life, convenience, and wide availability. Advancements in freezing technologies, such as blast freezing and belt freezing, have further enhanced the appeal of frozen food products. These innovations allow for better preservation of the food's taste, texture, and nutritional value.

A key driver of market growth is the growing consumer preference for convenience foods, particularly among busy professionals and households. The rise in dual-income families and the increasing participation of women in the workforce have fueled the demand for ready-to-cook frozen foods that require minimal preparation time.

However, challenges such as the lack of cold-chain infrastructure in developing regions and consumer concerns about the health benefits of frozen food versus fresh produce may hinder the market’s expansion. Additionally, a growing consumer preference for organic and fresh food could pose potential risks to the growth of frozen food consumption.

Nevertheless, emerging trends such as the rising demand for vegan and plant-based frozen food products, along with the growing popularity of online grocery shopping platforms, present significant opportunities for future market expansion.

Inquire Before Buying: https://www.nextmsc.com/frozen-food-market/inquire-before-buying

Market Segmentation
The frozen food market can be segmented based on product type, freezing technique, distribution channel, and geography.

  • By Type: Raw, Half Cooked
  • By Product: Ready-made meals, Meat & Poultry, Seafood, Vegetables & Fruits
  • By Freezing Technique: Individual Quick Freezing (IQF), Blast Freezing, Belt Freezing, Others
  • By Distribution Channel: Supermarket/Hypermarket, Convenience Stores, Online Channels, Others
  • By Geography: North America, Europe, Asia-Pacific, Rest of World (RoW)

Geographical Insights
Europe is the leading market for frozen foods, driven by the high consumption of seafood products as an alternative to red meat. The region's increasing adoption of frozen foods like fish, pizza, and meat in daily meals, combined with a growing number of startups like Allplants Ltd. and Strong Roots, will continue to propel market growth. According to FranceAgriMer, the annual per capita consumption of seafood in France was estimated at 33.5 kilograms in 2018.

North America is also expected to experience steady growth in frozen food consumption. The rising popularity of gluten-free and health-conscious frozen products, such as those launched by Real Good Foods in 2021, will continue to drive demand in the region. According to the American Frozen Food Institute, the frozen food market in the U.S. grew by 21% in 2020, with seafood, poultry, and appetizers accounting for the largest share.

Competitive Landscape
Key players in the frozen food market include Cargill Incorporated, Nestlé S.A., Kraft Heinz Company, General Mills, Inc., ConAgra Foods, Inc., Ajinomoto, McCain Foods, Parkland Corporation, Rojo Kellogg Company, and J.R. Simplot Co. These companies are adopting strategies such as acquisitions and geographic expansion to strengthen their positions in the market.

For example, Parkland Corporation’s acquisition of M&M Food Market in 2022 aims to accelerate convenience growth by expanding the company’s food offering and customer base. In another move, Nestlé invested USD 100 million in expanding its frozen food manufacturing capabilities in Gaffney, South Carolina, creating 160 new jobs and enhancing its production capacity to meet growing demand.

Conclusion
The frozen food market is poised for robust growth, with innovations in freezing technology and changing consumer preferences driving demand for convenient, long-lasting food products. As the market evolves, strategic expansions by key players and rising interest in plant-based and health-conscious frozen foods will present opportunities for further growth.

Also, Browse Related Reports:   

For more information, please contact:

Next Move Strategy Consulting

E-Mail: info@nextmsc.com

Direct: +1-217-650-7991

Website: www.nextmsc.com

Follow Us: LinkedIn | Twitter | Facebook | Instagram | YouTube

About Next Move Strategy Consulting:

Next Move Strategy Consulting is a premier market research and management consulting firm that has been committed to provide strategically analysed well documented latest research reports to its clients. The research industry is flooded with many firms to choose from, what makes Next Move different from the rest is its top-quality research and the obsession of turning data into knowledge by dissecting every bit of it and providing fact-based research recommendation that is supported by information collected from over 500 million websites, paid databases, industry journals and one on one consultations with industry experts across a diverse range of industry sectors. The high-quality customized research reports with actionable insights and excellent end-to-end customer service help our clients to take critical business decisions that enables them to move beyond time and have competitive edge in the industry.

We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicates as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solutions that range from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.

Back to blog