PUBLISHER: Allied Market Research | PRODUCT CODE: 1344424
PUBLISHER: Allied Market Research | PRODUCT CODE: 1344424
According to a new report published by Allied Market Research, titled, "Frozen Food Market," The frozen food market was valued at $397.3 billion in 2022, and is estimated to reach $607.2 billion by 2032, growing at a CAGR of 4.4% from 2023 to 2032.
Food that is completely edible when frozen is available for purchase by the user. Studies on 13 different vegetables show that up to 40% of a raw vegetable is lost during shelling and peeling before the vegetable is fit for cooking. According to the Census Bureau, more than half of households in the U.S. currently only have one or two people. Much frozen food has been developed specifically for these households. There are entrees, desserts, and sides that are single serving sized. There is no waste since there are no leftovers. Each family member may enjoy their favorite food without having to spend time and money cooking large quantities of each cuisine. Fruits and vegetables that are frozen and packaged in poly bags also make it simple to limit portion sizes.
A variety of dining options, and growth in health consciousness, eating patterns have altered throughout time in homes due to dual income. Eating out, ready-to-cook meals, takeaway, and meals that have already been prepared-all of which were once thought to be the exclusive domain of the upper class-are now widespread. Even though eating habits vary from household to household, this style of eating is now widely used across the globe. Food habits or eating habits have seen a tidal change that is influenced by the type and nature of jobs and free time as more women enter the workforce with erratic work schedules and hectic lifestyles. The number of working women has gradually increased in emerging countries, which has raised demand for prepared dishes and fast food. Retail customers consume frozen non-baked food such meat, pig, and beef more regularly in their homes because they may be stored and utilized for an extended period of time. The traditional thought women who were responsible for the healthy food of the family no longer have the time or energy to create home-cooked meals as more women enter the job. As a result, people have developed a preference for frozen food with long shelf lives, which has boosted the market growth.
Food that is frozen needs proper refrigeration and storage facilities. The rapidly growing number of large retail outlets, such as supermarkets and hypermarkets, in developing nations, has made it simpler to access frozen food due to their deep refrigeration and better storage capabilities. Different ready-to-eat frozen food products have been distributed more effectively through supermarkets and upscale bakeries. It is anticipated that increase in urbanization may accelerate the expansion of the retail industry, which would increase demand for frozen food.
It is anticipated that the demand for ready-to-eat food products in North America may alter during the forecast period. For instance, consumers who are health-conscious increasingly accept healthy food products, whereas sales of frozen food and bakery goods with high cholesterol have fallen. Thus, the market is anticipated to present profitable opportunities for the segment of frozen food that are ready-to-eat and are wholesome.
The frozen food market is segmented on the basis of type, end-user, and region. On the basis of product type, the market is categorized into ready meals, frozen meat & poultry, frozen seafood, frozen vegetables & fruits, frozen potatoes, and frozen soups. On the basis of end user, it is bifurcated into food service industry and retail users. On the basis of region, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Argentina, and Rest of LAMEA).
The major players operating in the global frozen food are Nestle S.A., Conagra Brands, Inc., The Kraft Heinz Company, Cargill, Incorporated, Kellogg Company, JBS S.A., Associated British Foods plc, Ajinomoto Co., Inc., General Mills, Inc, and Aryzta AG., Nestle.