The report “Frozen Food Market, By Type, By Product Type, By Distribution Channel - Trends, Analysis and Forecast till 2030’’

COVINA, CALIFORNIA, UNITED STATES, April 3, 2023 /EINPresswire.com/ -- According to the latest research study, the demand of Frozen Food Market size accounted for US$ 244.30 billion in 2020 and is estimated to be US$ 407.87 billion by 2030 and is anticipated to register a CAGR of 5.3%.

The frozen food market refers to the market for foods that have been frozen to extend their shelf life and preserve their quality. This includes a wide variety of products such as vegetables, fruits, meat, seafood, baked goods, and ready-to-eat meals. The global frozen food market has been experiencing steady growth over the years, driven by factors such as busy lifestyles, rising disposable incomes, and increasing demand for convenient and easy-to-prepare meals. Additionally, technological advancements in freezing and packaging techniques have helped to improve the quality and taste of frozen foods.
The COVID-19 pandemic has further fueled the growth of the frozen food market, as consumers stocked up on frozen foods during lockdowns and social distancing measures. Overall, the frozen food market is expected to continue growing in the coming years, driven by increasing demand for convenience and longer shelf life.

Report Metrics:

Report Attribute - Details
Market Size - US$ 244.30 billion
CAGR – 5.3%
Base Year - 2020
Forecast Period – 2020 - 2030

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Key Highlights:

• In June 2021, Pilgrim's Pride announced that it would pay £704 million to acquire Kerry Group's consumer meats and meals division. Kerry will use the proceeds to continue growing its taste and nutrition business, it was revealed yesterday (September 27) that the sale had been completed.
• In 2021, The Frostkrone Food Group has bought The Abergavenny Fine Food Co. This is the German company's most recent UK acquisition. According to Frostkrone, the move would allow it to diversify its portfolio of finger meals and snacks and increase its global reach.

Region Analysis:

In 2020, Europe was the significant market with the largest share. One of the main factors driving the expansion of the product market in the European region is the large purchasing power of consumers. Another is economic stability. Additionally, a major element influencing the expansion of the frozen food business is customers' busy lifestyles. Due to an increase in consumers who are health-conscious in the area, the frozen ready-to-eat healthy breakfast category has been more popular recently. Due to the presence of many large food and bakery companies, Europe has historically been one of the most fortunate markets for frozen food. Additionally, these market players are consistently working to grow their market share through efficient product innovation and research & development.

Key Market Insights from the report:

Frozen Food Market size accounted for US$ 244.30 billion in 2020 and is estimated to be US$ 407.87 billion by 2030 and is anticipated to register a CAGR of 5.3%. The global Frozen Food Market is segmented based on type, product type, distribution channel and region.

• Based on Type, Frozen Food Market is segmented into Raw Material and Half Cooked.
• Based on Product Type, Frozen Food Market is segmented into Frozen Ready Meals, Frozen Seafood & Meat Products, Frozen Snacks & Bakery Products and Others.
• Based on Distribution Channel, Frozen Food Market is segmented into Supermarkets/Hypermarkets, Specialty Stores, Convenience Stores and Online Retail.
• By Region, the Frozen Food Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

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Competitive Analysis:

The leading players operating in the Global Frozen Food Market includes
Wawona Frozen Foods focuses on the production and storage of fresh fruit.
Bellisio Foods is a diverse American maker of frozen foods with headquarters in Minneapolis, Minnesota.
McCain Foods is a worldwide Canadian frozen food company founded in Canada's Florenceville, New Brunswick, in 1957.
ConAgra Foods, Inc. is a holding corporation for American consumer packaged goods with its main office in Chicago, Illinois. Conagra manufactures and promotes goods under a number of brand names that can be found in supermarkets, eateries, and other food service locations.
General Mills, Inc. is a global American company that produces and markets branded consumer meals for sale in retail establishments.
Nestle S.A. is a multinational Swiss firm with its headquarters in Vevey, Vaud, Switzerland that processes food and beverages.
Ajinomoto is a Japanese multinational food and biotechnology company that creates spices, cooking oils, frozen meals, drinks, sweeteners, amino acids, pharmaceuticals, and interlayer insulating materials for semiconductor packages used in personal computers.
Kellogg Company is a global American food manufacturing firm with its headquarters in Battle Creek, Michigan.
Chevon Agrotech Pvt Ltd manufacture goods for frozen food.

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Drivers and Restrains of Frozen Food Market:

For companies and organisations looking to comprehend their clients, rivals, and the larger market, market research is a crucial instrument. Nonetheless, the market research sector is vulnerable to a variety of factors and restraints that can have an impact on its growth and development, just like any other business.

Drivers:
• Convenience: Frozen foods provide a convenient and quick meal solution for busy consumers, who are increasingly looking for easy-to-prepare meals.
• Longer shelf life: Frozen foods have a longer shelf life than fresh foods, which makes them an attractive option for consumers who want to reduce food waste.
• Technological advancements: Advancements in freezing and packaging techniques have improved the quality and taste of frozen foods, making them a more appealing option for consumers.
• Changing lifestyles: The rise of dual-income households and single-person households has increased the demand for frozen foods.
• Increased awareness of healthy eating: The introduction of healthy and organic frozen food options has made frozen foods a more attractive option for health-conscious consumers.

Restrains:
• Perceived lack of freshness: Some consumers perceive frozen foods to be less fresh than fresh foods, which can be a barrier to consumption.
• Nutritional concerns: Some frozen foods may contain high levels of sodium, preservatives, and other additives that are seen as unhealthy.
• Price sensitivity: Frozen foods can be more expensive than fresh foods, which can be a barrier for some consumers.
• Availability: The availability of frozen foods can be limited in certain regions, which can limit the growth of the market.
• Perception of low quality: Despite advancements in freezing and packaging techniques, some consumers still perceive frozen foods to be of lower quality than fresh foods.

Key Reasons to Purchase:

There are several key reasons why one might consider purchasing a report on the Frozen Food Market. These include:

1. Comprehensive analysis: The report provides a comprehensive analysis of the frozen food market, including market size, trends, drivers, and restraints.
2. Detailed insights: The report provides detailed insights into the frozen food market, including product types, distribution channels, and regional analysis.
3. Industry expertise: The report is typically prepared by industry experts who have a deep understanding of the market, which provides valuable insights and analysis.
4. Competitive landscape: The report provides an analysis of the competitive landscape of the frozen food market, including information on key players, market share, and strategies.
5. Strategic decision-making: The insights and analysis provided in the report can help businesses make strategic decisions regarding market entry, product development, and expansion.
6. Investment opportunities: The report can help investors identify potential investment opportunities in the frozen food market by providing insights into market trends and growth prospects.

For people who want to learn more about a topic, industry, or market and who appreciate the knowledge and expertise offered by a thorough, well-researched paper, purchasing a report may generally be a reasonable investment.

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Prophecy Market Insights is specialized market research, analytics, marketing/business strategy, and solutions that offers strategic and tactical support to clients for making well-informed business decisions and to identify and achieve high-value opportunities in the target business area. We also help our clients to address business challenges and provide the best possible solutions to overcome them and transform their business.

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