London, Feb. 10, 2023 (GLOBE NEWSWIRE) -- Majorly driven by the retail that currently accounts for more than 57% of total sales, global frozen food market is all set for a health growth outlook in the upcoming years. The market is poised to exhibit nearly 4.9% growth in value between 2022 and 2029 in a latest published report of Fairfield Market Research. The market revenue reached beyond US$243.8 Bn in 2021 and will most likely surpass the revenue worth US$362 Bn toward the end of 2029. “Offline sales are contributing a whopping 80% share that covers all frozen categories but we expect phenomenal performance of online distribution channels in the frozen food space,” says the analyst at Fairfield Market Research.
The various flexible packaging formats play a vital role in shaping frozen food sales as they warrant extended shelf-life, security, safe storage, accessibility, and contamination prevention. Although rising demand for fresh, natural foods poses a huge challenge, the market will continue to receive tailwinds from the greater convenience quotient of frozen foods, and supportive claims of the FDA, and IFCI.
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Insights into Segmental Analysis
Retail continues to be the leading distribution channel with over 57% value share. Supermarkets and hypermarkets thus remain the key revenue generators for frozen food brands. The share of foodservice providers is however also on the rise, suggest the primary findings of the global frozen food market report by Fairfield Market Research. Large format supermarkets and hypermarkets especially surge ahead as they house the sufficient infrastructure and space for storage.
Favorable reports on the health and nutrition profile, and origin of frozen foods further attract a larger consumer mass, in turn building the sales. Ready meals, the top area of application, make up for more than 38% of total demand. Nearly 15% of overall demand is contributed by the fruits and vegetables segment. The report also marks a collective contribution of around 24% from the meat and poultry, and seafood segments.
Insights into Regional Analysis
Accounting for more than 27% of the overall market valuation, North America leads the global frozen food space. Europe follows, further trailed closely by Asia Pacific. While the former two remain at the forefront in the light of the presence of accomplished cold chain infrastructure, and value chain, the latter is challenged by relatively incompetent cold chain infrastructure and logistics despite anticipating a higher CAGR through 2029. The frozen food import-export scenario thus does not appear to be overwhelming across the developing regional markets of the Asian subcontinent, says the report. The markets here will however benefit from the flourishing waves of veganism, and the rapidly proliferating fast food chains.
Key Players in Frozen Food Market
Nestle SA, General Mills Inc, Cargill Inc, Nomad Foods Ltd, Unilever Plc, Conagra Brands Inc, Kellogg Company, Tyson Foods Inc., Associated British Foods Plc., The Kraft Heinz Company
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REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2021 | |
| Forecast Year | 2022 – 2029 | |
| Market Size in 2021 | US$243.8 Bn | |
| Estimated Market Size in 2029 | US$362.2 Bn | |
| CAGR | 4.9% | |
| Key Players | Cargill Inc, Nestle SA, Nomad Foods Ltd, General Mills Inc, Unilever Plc, Tyson Foods Inc., Conagra Brands Inc, Kellogg Company, The Kraft Heinz Company, Associated British Foods Plc. | |
The Global Frozen Food Market is Segmented as Below:
By End User Coverage
- Food Service Provider
- Retail
By Type Coverage
- Ready meals
- Frozen seafood
- Frozen meat & poultry
- Frozen fruit & vegetables
- Frozen potatoes
- Frozen soups
By Distribution Coverage
- Online
- Offline
By Geographical Coverage
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Turkey
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- Egypt
- Rest of Middle East & Africa
Leading Companies
- Nestle SA
- Nomad Foods Ltd
- General Mills Inc
- Unilever Plc
- Tyson Foods Inc.
- Conagra Brands Inc
- Cargill Incorporated
- Kellogg Company
- The Kraft Heinz Company
- Associated British Foods Plc.
Report Inclusions
- Market Estimates and Forecast
- Market Dynamics
- Industry Trends
- Competition Landscape
- Type-wise Analysis
- Distribution-wise Analysis
- End User-wise Analysis
- Region-wise Analysis
- Country-wise Analysis
- Key Trends Analysis
- COVID-19 Impact Analysis
Learn More About the Report Inclusions, and Research Methodology: https://www.fairfieldmarketresearch.com/report/frozen-food-market/more-information
About Us
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.
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