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Frozen Food Market Size, Industry Analysis Report By Product (Fruits and vegetables, Potatoes, Meat, Fish/seafood), By Distribution Channel (offline, online) & Region – Forecast

  • PUBLISHED ON
  • 14/11/2022
  • NO OF PAGES
  • 202
  • CATEGORY
  • Food & Beverages
The Frozen Food Market: Overview
The Frozen Food Market is valued at around USD 185.07 billion in 2022 and is expected to reach USD 278.47 billion by 2030, registering a CAGR of 5.2% over the forecast period. Foods that have been treated using a preservation technique to maintain their flavours, nutrients, and colours are referred to as frozen foods. The primary goals of frozen food are to increase shelf life and simplify the heating procedure for consumers. It is regarded as a crucial part of meals cooked and served in restaurants and at home.

The Frozen Food Market - Growth Factor
The growth of the world market for frozen meals is being fuelled by a number of causes. The shifting consumer preferences in response to altering lifestyles has been one of the major factors fuelling the expansion of the global market. People are favouring frozen food products more and more due to their hectic and busy work schedules. The global market for frozen foods is expanding as a result of the rising popularity of ready-to-eat food products. Particularly in urban and developed regional segments, this style has gained significant popularity. The increased adoption of safety and regulatory measures by the top producers is a significant growth driver for the global frozen food market. The demand for frozen meals is anticipated to grow even more in the upcoming years of the forecast period as a result of rising per capita income and shifting dietary preferences around the world.

The Frozen Food Market – Market Trends
• Convenience food is prepared food that needs little to no additional preparation before eating. This category contains, among other things, frozen food, canned food, packaged food or meals, preserved food, and instant goods.
• The spectrum of convenience foods has increased thanks to technology advancements in the food sector, going beyond chilled, frozen, portion-controlled, microwaveable, shelf-stable, and other options. In this market, frozen foods dominate.
• The demand for frozen foods and ingredients is rising as more women join the workforce and as lifestyles change. The availability of frozen food products is increasing as convenience retail expands in emerging economies.
• This is a crucial growth driver for the frozen market. The popularity of frozen ready meals has been attributed to their allure for busy consumers, those attempting to lose weight, and those who live alone and do not want to prepare a whole dinner.

The Frozen Food Market – Segmentation
The Frozen Food Market fragrance concentrates market has been sub-classified into products, distribution channel.
On the basis of product, the Frozen Food Market is bifurcated into:
• Fruits and vegetables
• Potatoes
• Meat
• Fish/seafood
• others

On the basis of distribution channel, the market is segmented into:
• offline
• online
• others

The Frozen Food Market –Regional Analysis
North America dominated the global Frozen Food Market, the market with a share of 33.2% in 2021, making the highest contribution. The market is anticipated to grow consumers' preference for frozen food, particularly millennials, due to single serving alternatives and preparation convenience. For instance, Bell & Evans introduced a line of raw, frozen chicken meatballs in October 2019. Flavours include seasoned buffalo, parmesan-breaded mozzarella, and a classic, savoury chicken meatball. For maximum flavour, all three variants are created using a combination of dark meat chicken and skin. They are also uncooked and nitrogen-packed to preserve freshness and natural fluids. In addition, expanding potential for suppliers from developing nations in Brazil, Canada, and Mexico will eventually outpace the market expansion trend.

The Frozen Food Market – Key Market players
Global key players of Frozen Food Market include 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, and others.

Report scope
Global Frozen Food Market: Historical Years- 2018-2021
Global Frozen Food Market: Forecast Years- 2022-2030
Global Frozen Food Market 2022- USD 185.07 billion
Global Frozen Food Market 2030- USD 278.47 billion
Global Frozen Food Market CAGR- 5.2%

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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.

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