Frozen Foods Market Insights Competitors, Opportunities, Regional Portfolio, Forecast 2030
Market Research
Future Insights
According to market research future
insights analysis, the global frozen foods market is expected to register a
CAGR of 5.93% from 2022 to 2030 and hold a value of over USD 338.5 billion by 2030.
Over the next several years, the industry's size is anticipated to
increase due to the growing customer preference for shelf-stable goods on a
global scale. The popularity of these cuisines, including morning meals,
increased by 10.9%, and dinners/entrees increased by 4.9%, according to a
Progressive Grocer article from August 2021. 2.7% more frozen meat and 10.4%
more poultry that has been processed. This market's expansion has also been
aided by using these items by many end users, including full-service
restaurants, hotels & resorts, and quick-service eateries. A value chain
with a limited amount of extra capacity is in great danger due to the current
outbreak of COVID-19 infections, which are harming food manufacturing
facilities. To comply, businesses are maximizing worker attendance to maintain
the food supply chain, offering incentives and incremental safety investments,
and expanding their e-commerce presence by dealing directly with customers.
What
factors drive growth in the frozen foods industry?
The fact that more people around the world prefer and are willing to pay
for food that is nutritious yet easy and quick to cook/heat up.
Regional Analysis
Europe dominated the Frozen Foods Market Insights in 2021. High consumer purchasing power, financial stability, and
shifting food preferences are the main growth drivers in the area. The demand
for ready-to-eat breakfast products has also increased significantly due to
hectic lifestyles. With a significant growth potential for baked food products
and potato products, Europe is also one of the most alluring markets in the
world. The sales of frozen edibles increased immediately after the sudden COVID-19
outbreak but sharply declined in the following months.
Asia Pacific is expected to register lucrative growth in the frozen
foods market. Because consumers have started using internet retailing
platforms, the expansion of the regional market is also aided by the rising
number of cold chain facilities in various emerging nations. Additionally,
developing nations like India, Japan, and China are benefiting from an increase
in refrigeration facilities in retail stores and an increase in the availability
of frozen food through online retailers. Urbanization is anticipated to result
in significant market expansion across several Southeast Asian nations.
Market Segmentation
The global Frozen Foods Market Outlook has been segmented into product and distribution channels.
Based on product, the market has been segmented into fruits &
vegetables, potatoes, ready meals, meat, fish/seafood, and others. The ready
meals segment accounted for the largest market share in 2021 due to the
widespread consumption of prepackaged meals by working-class people worldwide.
A February 2020 article in BioMed Central (BMC) reported that about 36% of
adults in the U.S. admitted to eating prepared meals. The market is also
anticipated to expand due to introduction of new products. For instance,
China's HEROTEIN introduced sixteen ready-to-eat plant-based meat dinners in
September 2021, including various chicken and beef cuts. China has receive the
entire spectrum, which is entirely made of plants. On the other hand, the
fruits & vegetable segment is anticipated to be the fastest-growing segment
during the forecast period. Customers are switching to these items since they
don't need to be washed, peeled, or chopped, resulting from the rising
prevalence of lifestyle disorders. Eating contaminated or dirty food might
result in diarrhea and a swollen stomach.
Based on distribution channels, the market has been segmented offline
and online. Offline accounted for the frozen foods market largest revenue share
in 2021. Frozen food distribution has increased significantly among a growing
number of these retailers in various places. Online was the fastest growing.
The category is expected to become a reliable source of revenue. Manufacturers
are being compelled to readjust their retail strategy in these nations due to
the promising growth displayed by e-commerce platforms in emerging and
developed countries.
Key Players
Some key market players are Unilever PLC; Nestlé S.A.; General Mills,
Inc; Nomad Foods Ltd.; Tyson Foods Inc.; Conagra Brands Inc.; Wawona Frozen
Foods; Bellisio Parent, LLC; The Kellogg Company; The Kraft Heinz Company.
Read Our Related Report –
IQF
Fruits & Vegetables Market Research Report Forecast Till 2030
Frozen
Dessert Market
Research Report Forecast to 2030
Moringa
Products Market Research Report - Forecast till 2028
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the
complexity of various industries through our Cooked Research Report (CRR),
Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed
Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market
research and intelligence services to our clients. Our market research studies
by products, services, technologies, applications, end users, and market
players for global, regional, and country level market segments, enable our
clients to see more, know more, and do more, which help to answer all their
most important questions.
Contact us:
Market Research Future (part of Wantstats Research and Media Private
Limited),
99 Hudson Street,5Th Floor, New York, New York 10013, United States of
America
Comments
Post a Comment