Global Frozen Food market is projected to grow at a CAGR of 8.37% during the forecast period 2022-2030

The global frozen food market held a market size of USD 254 Billion in 2021 and is anticipated to grow at a CAGR of 8.37% from 2022 to 2030. Around 37,034 million kgs of frozen food were sold in 2021 globally.

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Increasing demand of ready to cook or ready to eat food coupled with a wide range of offering by the domestic and international brands are driving the market growth. However, preference towards natural and fresh foods among the health-conscious people are somehow restraining the market growth during the study period.

The global frozen food market is classified based on type, and distribution channel. Based on type, the meat & poultry segment is estimated to cross USD 70 billion by 2027. Increased consumption of meat in the developed countries like the U.S., Germany and others as well as in the developing countries are fueling the segmental growth. Ready meals held the highest market share in 2021 in global frozen food market. Ease of use, and convenient to have in the busy schedule is one of the supporting reasons for the segmental dominance during the study period. Based on distribution channel, the retail segment is likely to capture market of more than USD 46 billion during 2022-2030.

Based on region, the global Frozen Food market has been divided into Middle East & Africa, Europe, North America, Asia Pacific, and South America. The Europe region held the lion’s share in the market of more than 35% in 2021 owing to the developed cold chain facility and advanced lifestyle.

Key players functioning in the global Frozen Food market include Cargill, Unilever, Nestle SA, Ajinomoto Co. Ltd., ConAgra Brands, Inc., McCain Foods, General Mills Inc., Nichirei Corporation Limited, Maruha Nichiro Corporation, CJ Foods, and Sanquan Food Co. Ltd., among others. The cumulative market share of the ten major players is close to 40%.

Recent Developments by Market Players in the Global Frozen Food Market

• In December 2021, Conagra Brands, widen its product line under the frozen food category by adding Healthy Choice Zero, Healthy Choice Max, Banquet Mega Pizzas, Marie Callender’s Pot Pie with a Crust made with Cauliflower, Hungry Man Double Chicken, and Double Meat Bowls
• In September 2021, Nichirei Corporation completed the acquisition of Norish, a UK-based temperature-controlled warehousing, and logistics company with an aim to expand all its operations in the U.K. including the frozen food segment.

Segmentation Overview

• By Product Type
• Fruits
• Seasonal
• Regular
• Vegetables
• Peas
• Corn
• Potatoes
• Others
• Dairy Products
• Milk
• Butter
• Cheese
• Others
• Meat & Poultry
• Red Meat
• Pork Meat
• Poultry Meat
• Seafood
• Bakery Products
• Bread
• Pizza Crust
• Cakes & Pastries
• Others
• Soups
• Ready Meals
• Dumplings
• Rice based
• Italian (Pastas)
• Indian
• Korean
• Chinese
• Others
• Others

• By Distribution Channel
• Retail
• Online
• Supermarket/ Hypermarket
• Convenience Stores/ Standalone Stores
• Enterprise Sale (B2B)
• HoReCa (Hotel, Restaurants, Café) – Food Service
• Travel (Railway/ Airline/ Others)
• Educational Institutes
• Food Processing Industry

• By Region
• North America
• The U.S.
• Canada
• Mexico
• Europe
• The UK
• Germany
• France
• Italy
• Spain
• Russia
• Netherlands
• Rest of Europe

• Asia Pacific
• Japan
• China
• India
• Australia & New Zealand
• Korea
• ASEAN
• Rest of Asia Pacific
• Middle East and Africa
• UAE
• Saudi Arabia
• Egypt
• South Africa
• Rest of MEA
• South America
• Argentina
• Brazil
• Rest of South America

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