The processed food is frozen to control the microbial growth and to retain the quality of processed products over long period. The frozen processed food products are stored under recommended temperatures to maintain their quality. They are perceived as natural and healthy food product, which is fueling the growth of the market.
Global frozen processed food was valued at US$ 167115.0 Mn in 2021 in terms of revenue, exhibiting a CAGR of 4.84% during the forecast period (2022 to 2030).
Drivers
The changing lifestyles of the global population marked with busy schedules are driving the consumption of frozen processed food worldwide. With less time to cook nutritious meals, an increasingly high number of consumers are opting for convenient meal options. This trend is especially making a pronounced impact on the revenues of the frozen processed food market in countries such as India, the U.S., China, and the Philippines.
Furthermore, increasing disposable incomes are also contributing toward the growth of this market. According to Coherent Market Insights in 2020, states that growing number of households with refrigerators in developing countries will also help fuel the demand for frozen processed food items in the near future. The market will also receive an impetus from the introduction of innovative frozen processed food items that cater to the unique needs of the fitness- and health-conscious consumers. Additionally, a thrust on marketing products as healthy and natural will be a game-changing trend for frozen processed food brands.
The spread of the COVID-19 disease has somehow affected the frozen processed food market also. As a result, due to the border lockdowns in several countries throughout the world, the market value was highly affected. However, the lockdowns majorly affected the manufacturing and production of such products that are ready to go on a larger scale, thus inhibiting the frozen processed food market growth.
Figure 1. Global Frozen Processed Food Market Value Share (%), By Region, 2021
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Market Restraints
The growing preference for fresh and natural food products, as well as the increasing need for constant temperature monitoring, are expected to hinder the frozen foods market growth rate, while a lack of cold chain infrastructure in developing economies will pose a restraint for frozen processed food market over the forecast period.
Frozen Processed Food Market Report Coverage
Report Coverage | Details | ||
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Base Year: | 2021 | Market Size in 2021: | US$ 167115.0 Mn |
Historical Data for: | 2017-2020 | Estimated Year: | 2022 |
Forecast Period 2022 to 2030 CAGR: | 4.84% | Forecast Period: | 2022-2030 |
Geographies covered: |
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Segments covered: |
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Companies covered: |
Nestle S.A., ConAgra Foods, Inc., Kraft Foods Group, Inc., Mother Dairy Fruit & Vegetable Pvt Ltd, BRF S.A., General Mills, Inc., Maple Leaf Foods Inc., Tyson Foods, Inc., and Unilever Plc. |
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Growth Drivers: |
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Restraints & Challenges: |
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Market Trends
The rising prevalence of gluten-free dietary lifestyles among consumers owing to various health benefits offered by these products will further boost the market for gluten-free ready meals. For instance, in March 2022, Halo Top, an ice-cream brand from Wells Enterprises, Inc. launched a line of fruity frozen desserts with new sorbet pints. These products are available in three juicy flavors including raspberry, mango, and strawberry. In addition, these products are made up of real fruits, with less sugar & calories and vegan certified, and gluten-free.
Growing penetration of companies on e-commerce websites with the ongoing trend of consumers opting for online distribution channels to directly get their food delivered at home will drive the market in the forecast period. For instance, in March 2022, GoodPop frozen pops, a provider of food products launched a United States Department of Agriculture (USDA) certified organic pops that are 100% fruit juice-based and made with no added sugar.
Figure 2. Global Frozen Processed Food Market Value Share (%), By Product Type, 2021
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Recent Developments
Competitive Section
Major players operating in the global frozen processed food market include Nestle S.A., ConAgra Foods, Inc., Kraft Foods Group, Inc., Mother Dairy Fruit & Vegetable Pvt Ltd, BRF S.A., General Mills, Inc., Maple Leaf Foods Inc., Tyson Foods, Inc., and Unilever Plc.
Frequently Asked Questions
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