Frozen Delights: Unveiling Insights into the Global Frozen Processed Food Market

Frozen Delights: Unveiling Insights into the Global Frozen Processed Food Market

Frozen Processed Food Market is thriving on health and convenience trends by increasing demand for ready-to-eat foods

The frozen processed food market includes a wide array of food items that undergo processing and preservation using freezing technology. Popular frozen processed food products include frozen pizza, meat products like chicken nuggets, handy snacks and appetizers, fruits and vegetables, bread, desserts, and more. These foods offer advantages like long shelf life without refrigeration, availability throughout the year, convenience as they can be cooked and eaten quickly, and in many cases improved nutritional content compared to fresh alternatives. The growing fast-paced urban lifestyle has increased the demand for convenient ready-to-eat foods that can be prepared and consumed in no time. This demand from time-pressed consumers is a major driver boosting the frozen processed food industry. The Global frozen processed food market is estimated to be valued at US$ 167115.0 Mn in 2024 and is expected to exhibit a CAGR of 4.8% over the forecast period from 2023 to 2030.

Key Takeaways

Key players operating in the frozen processed food market are 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. Frozen processed foods offer great convenience to busy consumers leading to growing demand worldwide. The global frozen processed food market is expected to grow with increasing urbanization and rising disposable incomes in developing regions of Asia Pacific and Latin America.

Growing demand: The fast-paced urban lifestyles have increased the demand for convenient ready-to-eat foods that can be prepared in no time. processed frozen foods are perfect for busy consumers as they save time on cooking. This increased demand from time-pressed urban population is a major factor driving the growth of frozen processed food market.

Global expansion: Leading frozen food companies are expanding their global footprint to capitalize on opportunities in emerging regions. Nestle, General Mills and Tyson Foods are expanding their manufacturing and retail presence in Asia Pacific and Latin America where growing economies and rising incomes are resulting in higher frozen food spending. The global frozen processed food market is projected to grow with increasing urbanization and sales of frozen convenience foods in developing economies.

Market key trends

Health and wellness is one of the major trends being witnessed in the frozen processed food market. To cater to the increasing health consciousness, manufacturers are launching foods with whole grains, proteins, less sugar and saturated fats. Products with simple and clean ingredients are gaining more popularity. Another key trend is customization and variety in frozen food products. Manufacturers are introducing diverse product lines with regional flavors and customization features through online platforms to attract more consumers.

Porter's Analysis
Threat of new entrants: Large capital requirements and economies of scale in production and distribution limit threat of new frozen processed food manufacturers.

Bargaining power of buyers: Large retail chains have significant bargaining power over frozen processed food producers due to their buying power and shelf space.

Bargaining power of suppliers: Established manufacturers have some control over prices of raw materials like meat, cereals and vegetables due to long standing relationships with suppliers.

Threat of new substitutes: Threat remains moderate as frozen processed foods have distinct properties over fresh alternatives however quality fresh food also poses a threat.

Competitive rivalry: Intense competition exists between major frozen processed food brands.

Geographical Regions
North America accounts for the largest share of the global frozen processed food market in terms of value owing to high consumption levels and presence of major brands.

The Asia Pacific region excluding Japan is expected to witness the fastest growth during the forecast period due to rising incomes, westernization of diets, increasing urbanization and busy lifestyles leading to higher demand for convenience foods.