by Market Overview:
Frozen processed foods are pre-cooked or prepared foods that can be stored and used over a period without refrigeration. These include frozen pizza, frozen ready meals, frozen meat products, frozen seafood etc. They are popular among working professionals and nuclear families due to their convenience, ease of preparation and long shelf-life. With increasing number of women joining workforce globally, the demand for convenient and ready-to-eat foods has risen exponentially in past few years.
Market Dynamics:
The Frozen Processed Food Market is expected to grow at a substantial rate over the forecast period, attributed to rising working population globally and their preference for convenient food options. It is estimated that over 60% of households in developed nations have at least one working member and frozen foods help save time required for cooking. Additionally, growing health awareness has increased demand for frozen seafood and meat products as freezing helps retain essential nutrients in foods. Furthermore, introduction of frozen ethnic foods catering to varied tastes has also boosted market revenue. Changing consumer lifestyles and rapid urbanization has led to higher consumption of value added and ready-to-eat foods. Manufacturers are further diversifying their product portfolio by adding customization and organic options to cater to health-conscious demographic.
Segment Analysis
The Frozen Processed Food Market Demand is classified into ready meals, meat and poultry, seafood, soups and sauces, potato products, snacks, and others. The ready meals segment accounts for the largest share of over 25% in the global market and is expected to remain dominant due to convenient consumption for on-the-go lifestyles.
PEST Analysis
Political: Free trade agreements between countries have simplified cross-border trade regulations, supporting market expansion. However, protectionist policies in some countries could hinder imports.
Economic: Rising disposable incomes and dual-income households have increased the demand for convenient frozen foods. The COVID-19 pandemic also boosted sales as people stocked up.
Social: Changing eating habits and preferences for convenient meal options fit for busy lifestyles is a major driver. Health and wellness trends influence product innovation with options low in fat, sodium, and calories.
Technological: Advanced freezing technologies help manufacturers offer customizable portion sizes and innovative packaging formats that extend shelf life while retaining sensory and nutritional qualities.
Key Takeaways
The global frozen processed food market is expected to witness high growth, exhibiting CAGR of 4.84% over the forecast period, due to increasing urbanization and fast-paced lifestyles that favor convenient ready-to-eat options. The US accounts for the largest share in North America owing to heavy product promotions and strong distribution networks of key players. The Asia Pacific region is anticipated to grow at the fastest pace due to rising disposable incomes, population growth and busy work schedules that drive demand.
Regional analysis
The Asia Pacific region is anticipated to grow the fastest during the forecast period owing to rising disposable incomes, population growth and busy work schedules that drive demand for convenient options. China dominates the APAC frozen processed foods market and is expected to retain its position throughout the assessment period.
Key players
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.
Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
