Frozen Food Market to Grow by USD 150 Billion (2024-2028), Driven by Retail Expansion, with AI Impacting Market Trends – Technavio

NEW YORK, Dec. 3, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The global frozen food market size is estimated to grow by USD 150 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  8.09%  during the forecast period. Expansion of retail stores offering frozen food is driving market growth, with a trend towards technological innovations. However, health risks associated with consumption of frozen ready meals  poses a challenge. Key market players include Ajinomoto Co. Inc., ARYZTA AG, Conagra Brands Inc., Dr. August Oetker Nahrungsmittel KG, General Mills Inc., Hanover Foods, J.R. Simplot Co., JBS SA, Kellogg Co., Lantmannen Unibake International, McCain Foods Ltd., Nestle SA, Nomad Foods Ltd., PNW Veg Co. LLC dba NORPAC, Smith Frozen Foods Inc., The Kraft Heinz Co., Tyson Foods Inc., Unilever PLC, Vandemoortele NV, and Wawona Frozen Foods Inc..

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Market Driver

The frozen food market is experiencing growth due to edge computing in healthcare’s IoT applications. By analyzing data at the network’s edge, food distribution and e-commerce platforms enhance speed and efficiency. Key trends include sustainability, globalization, convenience, and longer shelf life. Frozen fruits, vegetables, seafood, meats, and organic options cater to diverse dietary preferences and health consciousness. Online channels, doorstep delivery, and price comparison technologies offer user-friendly experiences. 

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 Market Challenges

• The frozen food market experiences significant growth due to increasing dietary preferences, including vegan, paleo, and gluten-free options. Health consciousness, convenience, and online channels drive demand. Brick-and-mortar stores offer variety and organic options, while doorstep delivery and price comparison technologies enhance accessibility. Key trends include lean protein options, plant-based alternatives, and time-saving, single-serve meals.

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Segment Overview 

This frozen food market report extensively covers market segmentation by 

1. Product Type
• 1.1 Frozen ready meals
• 1.2 Frozen meat and poultry
• 1.3 Frozen fish and seafood
• 1.4 Frozen fruits and vegetables
• 1.5 Others
2. Distribution Channel
• 2.1 Offline
• 2.2 Online
3. Geography 
• 3.1 Europe
• 3.2 North America
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Frozen ready meals-  The frozen food market caters to diverse dietary preferences, including vegan, paleo, and gluten-free options. With growing health consciousness, consumers seek out organic and additive-free frozen meals. Convenience remains a key driver, with online channels and doorstep delivery enabling time-saving meal solutions. Technology and user-friendly platforms facilitate price comparison and easy ordering. Variety abounds, from organic options and lean protein sources to plant-based alternatives like vegan burgers, vegetarianism, and flexitarian diets. Frozen fruits, vegetables, and vegetable-based frozen meals offer nutritious choices. Frozen foods also include plant-based meat substitutes, dairy-free ice creams, and single-serve frozen meals for busy lifestyles and hectic schedules. Microwaveable snacks and pre-cut frozen produce further enhance convenience. Despite these benefits, concerns over sodium content, frozen food’s potential impact on blood pressure, and the presence of sulfur compounds persist.

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Research Analysis

In the e-commerce sector, the frozen food market has gained significant traction due to its alignment with sustainability goals and globalization. Online shopping platforms offer the convenience and portability of having longer shelf life foods delivered right to consumers’ doors. Distribution networks and marketing strategies have expanded, allowing for cost-effective sourcing of raw materials from developing countries. Innovation in the industry includes farm-to-table and locally sourced produce, broadening culinary horizons. However, challenges such as quality degradation and food safety risks must be addressed. Consumers seek versatility in their frozen food options, including fruits, vegetables, seafood, meats, and catering to various dietary preferences like vegan, paleo, and gluten-free. Health consciousness continues to drive demand for nutritional value and flavorful choices.

Market Research Overview

In today’s fast-paced world, the frozen food market has become a convenient solution for consumers seeking affordable, time-saving meal options. With a diverse range of products available, from vegetables and fruits to meats and ready-to-eat meals, this sector caters to various dietary needs and preferences. Companies employ advanced freezing technologies to preserve nutrients and maintain food quality, ensuring consumers receive fresh and delicious items. The convenience factor, coupled with the affordability and versatility of frozen foods, has led to their increasing popularity. Additionally, the market’s continuous growth is driven by factors such as urbanization, changing consumer demographics, and the rise of food delivery services. Overall, the frozen food market plays a significant role in modern-day food consumption, offering a practical and convenient alternative to traditional food options.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product Type

• Frozen Ready Meals
• Frozen Meat And Poultry
• Frozen Fish And Seafood
• Frozen Fruits And Vegetables
• Others

• Offline
• Online

• Europe
• North America
• APAC
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio