Frozen Food Market to Touch USD 333.56 Bn Revenue by 2023 at 4.21% CAGR, Predicts Market Research Future

Frozen Food Market Information Report and Industry Analysis by Product Type (Ready-to-Eat, Meat & Poultry, Vegetable & Fruits, Potatoes, Soup, Seafood), End User (Food Service, Retail Customers), Distribution Channel (Hyper Markets, Specialty Retailers, Convenience Stores, Independent Stores), and Region, Competitive Market Share, Trends, and Forecast, 2017- 2023


Pune, India, Sept. 25, 2018 (GLOBE NEWSWIRE) -- According to the latest study conducted by Market Research Future (MRFR), the global frozen food market is set to witness a strong growth over the next couple of years. The market is projected to witness a compound annual growth rate of 4.21% during the forecast period (2017-2023) and reach a valuation in excess of USD 333.56 Bn. Changing life style and growing fast-food culture is profiting the frozen food industry. There has been a significant rise in demand for frozen food in recent years. Frozen food is emerging as a desirable alternative to the day-to-day cumbersome cooking task. A variety of frozen foods has come up recently and more categories likely to emerge in the near future. Frozen food span across items such as meat & poultry, ready-to-eat, vegetable & fruits, and sea food among others. The changing dietary pattern that is noticed among modern consumers imparts tremendous scope for frozen food. They also fall under the notion of convenience food, which is gaining a quick momentum. While frozen food has already become popular grocery item in western countries, it is still a very new consumer product in the many of the countries in Far East.

Frozen food products are also preferred owing to their semi-preprocessed condition, which makes them easy to cook. Many of the frozen food and vegetable items do not require post peeling and cutting after defrosting. Moreover, the nutritional status of most of these items are usually well preserved. Though frozen food products are comparatively pricier then fresh food items, the increased discretionary spending by consumers is creating growth opportunities for frozen food market. However, being a proceed and commercial item, frozen food remains subject to skepticism, especially from believers of organic and fresh food consumption.

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Global Frozen Food Market: Competition Tracking

Kellogg Company (US), General Mills Inc. (US), Aryzta AG (Switzerland), Ajinomoto Co. Inc., (Japan), Cargill Incorporated (US), Kraft Foods Group Inc. (US), and Nestle S.A. (Switzerland) are some of the leading market participants profiled in MRFR’s report.

Industry News

  • US-based supplier of Asian frozen food Kahiki Foods is set to change hands. Under its new owners (CJ CheilJedang, a South Korean food company), Kahiki aims to expand more rapidly. The transaction for the deal remains undisclosed. Meanwhile, the deal will bring more opportunities for CJ CheilJedang, which owns brands such as Abarta, StirFresh meals and the Tsao family.
  • Kainos Capital has recently revealed its plans of merging three of the its portfolio brands-Savory Creations, Bonewerks Culinarte and Kettle Cuisine. Reportedly, the merged entity will operate Kettle Cuisine. To boost the entities growth, a frozen soup division of NORPAC Foods Inc. has also been acquired very recently.

Global Frozen Food Segmentation: Insights

This report also includes a segmental analysis of the global Frozen Food Market based on product type, end user and distribution channel. By product type, the market has been segmented into meat & poultry, potatoes, sea food, ready-to-eat products, soup, vegetable & fruits and others. The ready-to-eat segment currently commands the largest share of the market. The segment is likely to retain its dominant position over 2023. Ready-to-eat food products are in high demand and they are expected to maintain their overwhelming popularity through the assessment period. A shar rise in demand for see food is also anticipated in the new future. This also characterizes the projected CAGR of 4.52% for the sea food segment. By end user, the global frozen food market has been segmented into retail customers and food service. The later is expected to outperform the former during the projection period.  This is primarily owing to the growing demand for frozen food products in the food service industry. Based on distribution channel, the market is segmented into independent store, specialty retailer, hyper market & super market and convenience store. The store segment is expected to remain highly attractive in 2018 and beyond. The segment accounts for the largest share of the market and is projected to record an above-average CAGR between 2017 and 2023.

Browse the market data and information spread across 150 pages with 160 data tables and 27 figures of the report “Frozen Food Market Research Report – Forecast to 2023” in-depth alongside table of content (TOC) at:

Global Frozen Food Market: Regional Analysis

The global frozen food market has been covered across regions such as Europe, Asia Pacific (APAC), North America, Latin America. Demand for frozen food has continued to grow in Europe, which also justifies Europe’s dominant position in the global frozen food market. Countries such as the U.K. and Germany present the most opportunities for market players operating in the region. During the forecast period, the market in Europe is projected to surge at 4.03% CAGR. Consumption of frozen food is also high in North America, which is likely to remain an important frozen food market. Meanwhile, the market is on upward momentum in APAC. Factors such as increased per capita income, a rising middles class and consumer inclination towards ready-to-eat packaged food products are supporting the growth of the frozen food market in APAC. In addition, the market in APAC is expected witness fastest growth over 2023.

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