The frozen food market is poised to grow by USD 64.69 billionduring 2020-2024, progressing at a CAGR of over 5% during the forecast period. Request free sample pages
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Technavio has announced its latest market research report titled global frozen food market 2020-2024 (Graphic: Business Wire)
Read the 120-page report with TOC on "Frozen Food Market Analysis Report by Product (Frozen ready meals, Frozen meat and poultry, Frozen fish and seafood, Frozen fruits and vegetables, and Others), Geographic segmentation (North America, APAC, Europe, South America and MEA), and the Segment Forecasts, 2020-2024".
The market is driven by the expansion of retail stores offering frozen food. In addition, the growing popularity of private label frozen foods is anticipated to boost the growth of the frozen food market.
Retail stores including supermarkets, hypermarkets, independent retailers, and convenience stores supply a variety of both meat-based frozen foods and plant-based food products and plant-based dairy alternatives. The purchase of these food items is increasing due to the expansion of retail stores along with the increase in the number of product launches to attract more consumers. For instance, in February 2019, McCain Foods launched its line of frozen potato product Lighter Home Chips. In June 2019, Iceland Foods Ltd, a frozen food supermarket chain, announced its plans to open 50 new retail outlets in the UK. Thus, the expansion of retail stores offering frozen food is expected to drive market growth during the forecast period.
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Major Five Frozen Food Market Companies:
Ajinomoto Co. Inc.
Ajinomoto Co. Inc. operates the business under various segments such as Japan Food Products, International Food Products, Life Support, and Healthcare and other business. The company offers frozen foods through the Japan Food Products and International Food Products segments.
Bonduelle SCA offers products through the following business units: Canned, Frozen, and Fresh processed. The company offers frozen food products through its Canned and Frozen food segments.
Conagra Brands Inc.
Conagra Brands Inc. operates under various business segments, namely Grocery Snacks, Refrigerated Frozen, International, Foodservice, and Pinnacle Foods. The company offers various frozen food products in the US and international markets through three of its segments which includes Pinnacle Foods, Refrigerated Frozen, and International.
Dr. August Oetker Nahrungsmittel KG
Dr. August Oetker Nahrungsmittel KG offers products through the following business segments: Food, Beer and Nonalcoholic Beverages, Sparkling wine, Wine Spirits, and Other interests. The company manufactures and markets frozen foods through the Food segment.
George Weston Ltd.
George Weston Ltd. offers products through the following business segments: Weston Foods, Loblaw, and Choice Properties. The company offers frozen food through the bakery segment named Weston Foods.
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Frozen Food Market Product Outlook (Revenue, USD Billion, 2020-2024)
- Frozen ready meals
- Frozen meat and poultry
- Frozen fish and seafood
- Frozen fruits and vegetables
Frozen Food Market Geographic Outlook (Revenue, USD Billion, 2020-2024)
- North America
- South America
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