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Frozen Food Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2030

Global Frozen Food Market- (By Product Type – Fruits, Vegetables, Dairy Products, Meat and Poultry, Sea Food and Others; By Distribution Channel – Retail and Enterprise Sale; and By Region) – Industry Dynamics, Market Size, Opportunity and Forecast to 2030

  • Published Date: Jan-2023  |   Format: pdfpowerpointexcel  |  Report ID: AA0121033  | Delivery: 2 to 4 Hours
Frozen Food Market

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Report AttributeDetails
Market Size Value in 2022US$ 265.13 Billion
Expected Revenue in 2030US$ 504.41 Billion
Historic Data2017-2021
Base Year2022
Forecast Period2023-2030
UnitValue (USD Bn)
Segments coveredBy Product Type, By Distribution Channel, By Region 
Key Companies                                                                                 Ajinomoto Co., Inc., Associated British Foods PLC, CJ Foods, ConAgra Brands, Inc., General Mills Inc., Grupo Bimbo S.A.B. De C.V, Grupo Bimbo, Kellogg Company, Lantmannen Unibake International, Maruha Nichiro Holding Inc., Mccain Foods Limited, Nestle SA, NH Foods Ltd., Nichirei Corporation, Nippon Suisan, The Kraft Heinz Company, Tyson Foods, Inc., Unilever, other prominent players.
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The Frozen Food Market was valued at US$ 265.13 Billion in 2022.

The frozen food industry is witnessing a major jump in FDI in developing countries. Moreover, the busy lifestyles of people have led to a growing demand for ready to eat food products. The Frozen Food Market was valued at US$ 265.13 Bn in 2022 and is estimated to reach US$ 504.41 Bn by 2030, registering a CAGR of 8.4% from 2023-2030.

The market for frozen food products is divided into three broad categories namely- by product type, by distribution channel and by region. 

The study period for the frozen food market is 2017-2030.

Ready Meals segment is the leading product type segment in the market. 

Rising FDIs in developing countries is the key market driver.

Rising preferences for natural and fresh food products and the COVID 19 pandemic are challenging the frozen food product market.

Increasing adoption of online business channel and rising food wastage are the factors expected to give a push to the market.

Europe has the highest market size of US$89.72 Bn in 2022.

Online retail segment is anticipated to have the largest share of growth by 2030. Online food and beverage growth has sparked the overall growth of retail sector of frozen food market because of the convenience and variety it offers. 

Asia Pacific is projected to have the highest CAGR of 9.12% by 2030. 

The key players in the global frozen food market are Cargill, Unilever, Nestle SA, and Ajinomoto Co. Ltd among others. 

COVID-19 pandemic has increased the demand for organic products, thereby making the market for frozen food inferior. Moreover, the pandemic has placed unprecedented stress on supply chains, with bottlenecks in farm labor, processing, transport and logistics, as well as momentous shifts in demand.