The frozen food market is expected to grow from US$251,155. 35 million in 2021 at 373,767 US$. 59 million by 2028; it is expected to grow at a CAGR of 5.9% from 2022 to 2028. Frozen foods consist of frozen desserts, meat, poultry, seafood, snacks, ready meals, fruits, vegetables, soups etc
New York, July 20. 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “Frozen Food Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Type and By Distribution Channel” – https://www.reportlinker.com/p06295673/?utm_source=GNW
These products are preserved by freezing, preventing microbial and pathogen attacks.
Frozen foods have an extended shelf life of 3 to 6 months, which makes them very convenient. Additionally, freezing retains essential vitamins, minerals and other nutrients in food, making it more nutritious.
Frozen food products are gaining popularity among the working population because they are convenient to consume and require minimal preparation time. This factor is mainly driving the growth of the frozen food market.
Based on type, the frozen food market is segmented into frozen desserts; frozen bakery; frozen meat, poultry and seafood; frozen ready meals; frozen snacks and appetizers; others. The meat, poultry and seafood segment is expected to register the largest share during the forecast period.
Frozen meat products are gaining popularity because they can be conveniently stored, reducing food waste. Growing demand for frozen meat, poultry and seafood products due to their extended shelf life and requirement for minimum preparation time is driving the growth of the segment.
Additionally, meat is a rich source of protein and contains essential amino acids and collagen. Therefore, the benefits associated with the consumption of frozen meat encourage consumers to include frozen meat products in their diet.
These factors are expected to boost the demand for meat, poultry and seafood and further fuel the growth of the frozen food market over the forecast period.
By geography, the frozen food market is primarily segmented into North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America. In 2021, Europe held the largest market share during the forecast period. .
The growth of the market in Europe is mainly attributed to the growing demand for ready meals, the vast retail infrastructure and the availability of a wide range of products from different brands on different distribution channels. Additionally, high per capita income consumers are also driving the demand for frozen foods, especially frozen entrees, baked goods, and snacks.
Consumers seek nutritional benefits from the products they consume. Hence, the demand for clean, organic, gluten-free and minimally processed frozen foods has increased significantly, driving the growth of the market in the region.
These factors are fueling the growth of the frozen food market across Europe.
The major players in the frozen food market are Conagra Brands, Inc.; General Mills Inc.; Pepperidge Farm Incorporated; Bonduelle Group; McCain; Bellisio Foods, Inc.; Tyson Foods, Inc.; Kellogg’s Company; Nestlé SA; and the Kraft Heinz Company. These players are developing various products to meet growing consumer demand. For example, in 2021, Nestlé expanded its frozen food plant in South Carolina with investments of US$100 million for its brands such as Stouffer’s and Lean Cuisine.
The frozen food market size has been derived using primary and secondary sources. To begin the research process, extensive secondary research was conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Additionally, several primary interviews were conducted with industry participants to validate the data and gain more analytical insights. Participants in this process include industry experts such as vice presidents, business development managers, market intelligence managers, national sales managers and external consultants including valuation experts, research analysts and key opinion leaders, specializing in the frozen food market.
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