NEW YORK , Sept. 30, 2022 /PRNewswire/ -- According to the research report "Frozen Food Market by Product and Geography - Forecast and Analysis 2022-2026", the market will witness a YOY growth of 6.85% in 2022 at a CAGR of 6.95% during the forecast period. The report is segmented by product (frozen ready-to-eat meals, frozen meat and poultry, frozen fish and seafood, frozen fruits and vegetables, and others) and geography (Europe , North America , APAC, South America , and the Middle East and Africa ). Read Sample PDF Report
The global frozen food market is highly fragmented due to the presence of many vendors. Vendors are competing in the market by introducing new products, expanding their presence through mergers and acquisitions, and launching marketing campaigns. The vendors offering frozen food products are expected to witness certain challenges during the forecast period. One such challenge is the frequent recall of frozen foods, which may affect the brand value of the vendor and the consumer acceptance of its products and, thus, the overall profitability.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
PNW Veg Co. LLC dba NORPAC
Find highlights on the growth strategies adopted by vendors and their product offerings. Request Sample Report
Europe will provide maximum growth opportunities for vendors operating in the frozen food market during the forecast period. According to our research report, the region will contribute 39% of the global market growth and is expected to dominate the market through 2026.
The UK is the major market for frozen food in Europe . The increased demand for processed food products is driving the regional market's growth. In addition, the increasing number of consolidations through M&As, innovative marketing campaigns by vendors, and the premiumization of frozen foods products are driving the growth of the regional market.
Europe will also emerge as the fastest-growing market for the frozen food market. Factors such as increasing product innovation and the rising number of new product launches are expected to fuel the growth of the frozen food market in Europe during the forecast period. Furthermore, countries such as the US, Mexico , China , and Germany are expected to emerge as prominent markets for frozen food during the forecast period.
By product, the frozen food market share growth in the frozen ready-to-eat meals segment will be significant during the forecast period. The segment comprises frozen pizza, frozen pasta, frozen croissants, frozen Asian meals, frozen rice bowls, frozen noodle bowls, frozen crispy pancakes, and frozen pies among other products. The increasing availability of nutrient-rich varieties of frozen food is driving the growth of the segment. View Report Sample to identify other potential segments and regions in the market.
Key Market Drivers & Challenges:
The frozen food market is primarily driven by the expansion of retail stores offering frozen food. The expanding presence of supermarkets, hypermarkets, and specialty stores has significantly contributed to the growth of the organized retail sector worldwide. This is enabling vendors and retailers to sell frozen food products such as frozen food, frozen fish and seafood, frozen meat and poultry, and frozen fruits and vegetables. All these factors are expected to drive the growth of the market during the forecast period.
However, health risks associated with the consumption of frozen ready meals will reduce the growth potential in the market. Frozen foods are stored at a low temperature to prevent spoilage and increase their shelf life. Frozen food manufacturers often substitute healthier ingredients with cheap alternatives. For instance, nutrition-dense olive oil is often replaced with less effective rapeseed oil, which results in the loss of antioxidants present in frozen foods. Hence, the frequent consumption of frozen food also puts consumers at risk of developing high blood pressure and other health-related problems. This growing awareness among consumers is expected to reduce the growth potential in the market.
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Frozen Baby Food Market by Product and Geography - Forecast and Analysis 2022-2026
Frozen Vegetables Market by Distribution Channel and Geography - Forecast and Analysis 2022-2026
Accelerate at a CAGR of 6.95%
Europe, North America, APAC, South America, and Middle East and Africa
US, Mexico, China, Germany, and UK
Leading companies, competitive strategies, consumer engagement scope
Ajinomoto Co. Inc., Aryzta AG, Associated British Foods Plc, Conagra Brands Inc., General Mills Inc., Hanover Foods, J.R. Simplot Co., JBS SA, Kellogg Co., Lantmannen Unibake International, McCain Foods Ltd., Nestle SA, Nomad Foods Ltd, PNW Veg Co. LLC dba NORPAC, Smith Frozen Foods Inc, The Kraft Heinz Co., Tyson Foods Inc., Unilever PLC, Vandemoortele NV, and Wawona Frozen Foods Inc.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
3.4 Market outlook: Forecast for 2021-2026
5.3 Frozen ready to eat meals - Market size and forecast 2021-2026
5.4 Frozen meat and poultry - Market size and forecast 2021-2026
5.5 Frozen fish and seafood - Market size and forecast 2021-2026
5.6 Frozen fruits and vegetables - Market size and forecast 2021-2026
5.7 Others - Market size and forecast 2021-2026
7.3 Europe - Market size and forecast 2021-2026
7.4 North America - Market size and forecast 2021-2026
7.5 APAC - Market size and forecast 2021-2026
7.6 South America - Market size and forecast 2021-2026
7.7 Middle East and Africa - Market size and forecast 2021-2026
7.8 US - Market size and forecast 2021-2026
7.9 Germany - Market size and forecast 2021-2026
7.10 UK - Market size and forecast 2021-2026
7.11 China - Market size and forecast 2021-2026
7.12 Mexico - Market size and forecast 2021-2026
8.3 Impact of drivers and challenges
11.3 Currency conversion rates for US$
food allergy among consumers: There is an increase in the number of people suffering from food allergies globally. Food allergy is caused when the immune system reacts to the ingestion of certain foods. Ingredients of packaged foods and meats that can create allergic reactions in some people include (but are not limited to) milk, eggs, fish, crustacean shellfish (e.g., crab, lobster, and shrimp), tree nuts (e.g., almonds, walnuts, and pecan), peanuts, wheat, and soybeans. Even consumption of small amounts of food allergens can trigger signs and symptoms such as digestive problems, hives, and swollen airways. In some people, a food allergy can cause severe symptoms, or even a life-threatening reaction is, known as anaphylaxis. For example, in the US, nearly 3% of the adult population suffers from shellfish allergy.
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