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Frozen Food Market: Global Opportunity Analysis and Industry Forecast, 2020–2027
Published Date: November 2019
|
Report Code: ALLI-Auto-2Y37
Home | Market Reports | Food & Drink | Food
Frozen Food Market By Product Type Ready Meals Meat Poultry Sea Food Potatoes Vegetables Fruits Soups and User Food Service Industry Retail Customers Global Opportunity Analysis and Industry Forecast 2014 2020

Frozen Food Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

Code: ALLI-Auto-2Y37
Report
November 2019
118 Pages
Allied Market Research
Region: Global,
Description
Table of Content
Tables & Figures

Frozen Food Market Analysis: 2020-2027

The frozen food market size was valued at USD 291.8 Billion in 2019 and is estimated to reach USD 404.8 Billion by 2027, registering a CAGR of 4.2% from 2020 to 2027.

Frozen food is defined as food products that are preserved under low temperatures and used over a long period. The product market comprises various food products, including ready meals, vegetables & fruits, potatoes, meat & poultry, seafood, and soup. Frozen ready meals further include packaged ready-to-eat foods, bakery, snacks, and desserts. Business buyers such as hotels, caterers, restaurants, and fast-food chains are among major users of frozen food products that include frozen vegetables & fruits, potatoes, and non-veg products.
 
Frozen meat & poultry and seafood are among the most commonly used grocery items across North America and Europe. Europe is the largest market of frozen bakery and desserts. The retail frozen food industry is evolving, and is in its nascent phase in markets such as India. However, it has witnessed a steady growth since the past few years.
 
Increase in use of frozen food products by giants such as KFC, McDonald’s, Pizza Hut, Subway, and Frozen Potatoes acts as a key driver of the global frozen food market. Moreover, the utilization of these products by numerous end users such as full-service restaurants, hotels & resorts, and quick service restaurants is expected to drive the growth of this market.

The world has witnessed a significant growth in the women employment rate. With increase in number of employed women, it becomes significantly difficult for them to cook meals, which results in consuming frozen ready meals. For instance, according to the United States Department of Labor, the U.S. female employment rate in 2019 was 46%. Similarly, in China, the women employment rate was around 43.7%, and in South Africa it was around 45%. All these factors collectively drive growth of the market during the forecast period. Popular frozen ready meals include Birds Eye 4 Chicken Pies, mini cottage pie, smoked haddock kedgeree, and broccoli & cheddar bake.

The report segments the market into product type, user, and region. On the basis of product type, the market is categorized into frozen ready meals, frozen meat & poultry, frozen seafood, frozen vegetables & fruits, frozen & refrigerated soups and frozen potatoes. By end user, it is classified into food service industry, and retail users. Region wise, it is analyzed across North America (U.S., Mexico, and Canada), Europe (Germany, UK, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Argentina and rest of LAMEA).

According to frozen food market analysis On the basis of product type, the ready meals segment is the largest revenue generator in the current scenario, followed by frozen meat and poultry products. This is attributed to surge in use of frozen pizza crusts, bread, and frozen bakery products, which acts as a key driver of the ready meals segment. Frozen potatoes segment is expected to grow at the fastest CAGR of 4.8% from 2019 to 2027, followed by the segment of frozen seafood products segment, which is expected to witness a CAGR of 4.4% during the same period. New launches in frozen ready meals owing to increased investment in R&D of food processing coupled with strengthening distribution network of frozen food items is expected to contribute significantly to the growth of frozen ready meals market segment.

By user, the food service industry segment dominated the market, garnering 53.9% share in 2019, and is expected to continue throughout the frozen food market forecast period. This is attributed to the fact that the food service industry is among the major consumers of frozen foods. The food service industry includes hotel chains, fast food restaurants, cash & carry outlets caterers, and other business buyers. In addition, the popularity of frozen food in the food service sector is increasing, as they can be stored and used over a long period of time, which saves operational costs. Moreover, as they require less time to cook and reduce customer-waiting time, fast food chains and quick service restaurants have adopted them as substitutes to fresh ingredients. In addition, increase in internet penetration and quick access to smartphones have resulted in more purchase through online channels. As a result, several food chains are shifting toward online portals to enhance online food ordering for these fast food chains, which, in turn, augment the growth of the product market.

Region wise, Europe was the prominent market in 2019, which accounted for the maximum share. Large spending capabilities of consumers and economic stability are some of the major reasons for the growth of the product market in the European region. In addition, busy lifestyle of consumers acts as a key factor driving the frozen food market growth. Frozen ready to-eat healthy breakfast segment has gained popularity in recent years, owing to rise in health-conscious consumers in the region. Europe has been one of the most lucrative markets for frozen food, owing to the fact that it is home for numerous food and bakery giants. Moreover, these players operating are continuously striving to increase their market share by means of effective research & development and product innovation. In addition, companies are entering into partnerships with other companies to utilize each other’s capabilities and outperform the competitors. Players such as Aryzta have maintained their leadership in high-end frozen bakery market on account of efficient operational excellence and research & development capabilities. However, Asia-Pacific is anticipated to witness major demand for frozen food during the forecast period, owing to presence of developing countries. Manufacturers all around the world invest in these economies, which is projected to surge the frozen food market demand in Asia-Pacific.

Major companies operating in this market have adopted acquisition and new product development as their key strategies in order to gain a competitive edge. Aryzta is one of the largest suppliers of frozen bakery in North America and Europe. Nestle is a leading player in frozen pizza segment in North America and Europe. Mac. Cain foods launched local food variants in India, developed specifically as per the traditional food habits of customers. Leading players profiled in the report include Aryzta A.G., General Mills Inc., Kraft Foods Group Inc., Ajinomoto Co. Inc., Cargill Incorporated, Europastry S.A., JBS S.A, Kellogg Company, Nestle S.A. and Flower Foods.

Key Benefits

  • The report provides a quantitative analysis of the current frozen food market trends, estimations, and dynamics of the market size from 2019 to 2027 to identify the prevailing opportunities.  
  • Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
  • In-depth analysis and the market size and segmentation assists to determine the prevailing frozen food market opportunities.  
  • The major countries in each region are mapped according to their revenue contribution to the market.   
  • The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the frozen food industry.  

Frozen Food Market Segmentation

Frozen Food Market by Product Type

Frozen Food Market by User

  • Food Service Industry
  • Retail Customers

Frozen Food Market by Region

  • North America
  • Europe
  • Asia-Pacific
  • LAMEA

Frozen Food Market by Compaines

  • Aryzta AG
  • General Mills Inc.
  • Kraft Foods Group Inc.
  • Ajinomoto Co. Inc.
  • Cargill Incorporated
  • Europastry S.A.
  • JBS S.A.
  • Kellogg Company
  • Nestle S.A.
  • Flower Foods
TABLE OF CONTENT
 
CHAPTER 1 INTRODUCTION
1.1 Report description
1.2 Key benefits
1.3 Key market segments
1.4 Research methodology
1.4.1 Secondary research
1.4.2 Primary research
1.4.3 Analyst tools and models
 
CHAPTER 2 EXECUTIVE SUMMARY
2.1 CXO perspective
2.2 Market definition and scope
2.3 Key findings
2.4 Top impacting factors
2.5 Top investment pockets
2.6 Top winning strategies
2.7 Porters five force analysis
2.7.1 Low switching cost increases the bargaining power of the buyers
2.7.2 Undifferentiated products reduce the bargaining power of supplier
2.7.3 High capital investment reduces the threat of new entrants into the industry
2.7.4 Availability of substitutes for snack and fast food increases the threat of substitutes
2.7.5 Low exit barriers lead to more number of small players and increased industrial rivalry
2.8 Value chain analysis
2.8.1 Ingredient manufacturers and suppliers
2.8.2 Frozen food manufacturers and suppliers
2.8.3 Distribution platforms
2.8.4 End users
2.9 Market share analysis, 2014
2.10 Market dynamics
2.10.1 Drivers
2.10.1.1 Increase in purchasing power
2.10.1.2 Changing lifestyle and food habbits
2.10.1.3 Growing number of working women
2.10.1.4 Research and operational excellence
2.10.2 Restraints
2.10.2.1 Growing health and fitness concern
2.10.2.2 Government regulations
2.10.2.3 Availability of other fresh food options
2.10.2.4 Storage and transport facility
2.10.3 Opportunities
2.10.3.1 Rapidly growing food service industry
2.10.3.2 Improved storage facility in small retail stores
2.10.3.3 Rapidly growing large retail
2.10.3.4 Transition in consumer demand
 
CHAPTER 3 WORLD FROZEN FOOD MARKET BY PRODUCT TYPE
3.1 Frozen ready meals
3.1.1 Key market trends
3.1.1.1 Fast-food
3.1.1.2 Bakery and dessert
3.1.2 Key growth factors and opportunities
3.1.3 Competitive scenario
3.1.4 Market size and forecast
3.2 Frozen meat & poultry
3.2.1 Key market trends
3.2.2 Key growth factors and opportunities
3.2.3 Competitive scenario
3.2.4 Market size and forecast
3.3 Frozen sea food
3.3.1 Key market trends
3.3.2 Key growth factors and opportunities
3.3.3 Competitive scenario
3.3.4 Market size and forecast
3.4 Frozen vegetables & fruits
3.4.1 Key market trends
3.4.2 Key growth factors and opportunities
3.4.3 Competitive scenario
3.4.4 Market size and forecast
3.5 Frozen potatoes
3.5.1 Key market trends
3.5.2 Key growth factors and opportunities
3.5.3 Competitive scenario
3.5.4 Market size and forecast
3.6 Frozen Soups
3.6.1 Key market trends
3.6.2 Key growth factors and opportunities
3.6.3 Competitive scenario
3.6.4 Market size and forecast
 
CHAPTER 4 WORLD FROZEN FOOD MARKET BY USER
4.1 Food service Industry
4.1.1 Hotels, restaurants and caterers
4.1.1.1 key market trends
4.1.1.2 Key growth factors and opportunities
4.1.1.3 Market size and forecast
4.2 Retail Customers
4.2.1 key market trends
4.2.2 key growth factors and opportunities
 
CHAPTER 5 WORLD FROZEN FOOD MARKET BY GEOGRAPHY
5.1 Europe
5.1.1 Key market trends
5.1.2 Key growth factors and opportunities
5.1.3 Competitive scenario
5.1.4 Market size and forecast
5.1.5 Market entry strategies
5.2 North America
5.2.1 Key market trends
5.2.2 Key growth factors and opportunities
5.2.3 Competitive scenario
5.2.4 Market size and forecast
5.2.5 Market entry strategies
5.3 Asia Pacific
5.3.1 Key market trends
5.3.2 Key growth factors and opportunities
5.3.3 Competitive scenario
5.3.4 Market size and forecast
5.3.5 Market entry strategies
5.4 LAMEA
5.4.1 Key market trends
5.4.2 Key growth factors and opportunities
5.4.3 Competitive scenario
5.4.4 Market size and forecast
5.4.5 Market entry strategies
 
CHAPTER 6 COMPANY PROFILES
6.1 Aryzta A.G.
6.1.1 Company overview
6.1.2 Business performance
6.1.3 Strategic moves and developments
6.1.4 SWOT analysis and strategic conclusion of Aryzta
6.2 General Mills Incorporation
6.2.1 Company overview
6.2.2 Business performance
6.2.3 Strategic moves and developments
6.2.4 SWOT analysis and strategic conclusion of General Mills
6.3 Kraft foods Group Inc.
6.3.1 Company overview
6.3.2 Business performance
6.3.3 Strategic moves and developments
6.3.4 SWOT analysis and strategic conclusion of KRAFT FOODS
6.4 Ajinomoto Co. Inc.
6.4.1 Company Overview
6.4.2 Business performance
6.4.3 Strategic moves and developments
6.4.4 SWOT analysis and strategic conclusion of Ajinomoto
6.5 Cargill Incorporated
6.5.1 Company overview
6.5.2 Business performance
6.5.3 Strategic moves and developments
6.5.4 SWOT analysis and strategic conclusion of CARGILL Incorporated
6.6 EUROPASTRY S.A.
6.6.1 Company overview
6.6.2 Business performance
6.6.3 Strategic moves and developments
6.6.4 SWOT analysis and strategic conclusion of Europastry
6.7 JBS S.A.
6.7.1 Company overview
6.7.2 Business performance
6.7.3 Strategic moves and developments
6.7.4 SWOT analysis and strategic conclusion of JBS Foods
6.8 Kellogg Company
6.8.1 Company overview
6.8.2 Business performance
6.8.3 Strategic moves and developments
6.8.4 SWOT analysis and strategic conclusion of Kelloggs
6.9 Nestle S.A.
6.9.1 Company overview
6.9.2 Business performance
6.9.3 Strategic moves and developments
6.9.4 SWOT analysis and strategic conclusion of Nestle
6.10 Flower Foods
6.10.1 Company overview
6.10.2 Strategic moves and developments
6.10.3 SWOT analysis and strategic conclusion of Flower Food
TABLE 1 WORLD FROZEN FOOD MARKET REVENUE BY GEOGRAPHY, 20142020 ($MILLION)
TABLE 2 WORLD FROZEN FOOD MARKET REVENUE BY PRODUCT TYPE, 2014-2020 ($MILLION)
TABLE 3 WORLD FROZEN READY MEAL MARKET BY GEOGRAPHY, 2014-2020 ($MILLION)
TABLE 4 WORLD FROZEN MEAT AND POULTRY MARKET REVENUE BY GEOGRAPHY, 2014-2020 ($MILLION)
TABLE 5 WORLD FROZEN SEA FOOD MARKET REVENUE BY GEOGRAPHY, 2014-2020 ($MILLION)
TABLE 6 WORLD FROZEN VEGETABLES AND FRUITS MARKET REVENUEBY GEOGRAPHY,2014-2020 ($MILLION)
TABLE 7 WORLD FROZEN POTATO MARKET REVENUE BY GEOGRAPHY, 2014-2020($MILLION)
TABLE 8 WORLD FROZEN SOUP MARKET REVENUE BY GEOGRAPHY, 2014-2020 ($MILLION)
TABLE 9 WORLD FROZEN FOOD MARKET REVENUE BY USER, 2014-2020 ($MILLION)
TABLE 10 WORLD FROZEN FOOD FOOD SERVICE MARKET REVENUEBY GEOGRAPHY, 2014-2020 ($MILLION)
TABLE 11 WORLD FROZEN FOOD RETAIL MARKET REVENUE BY GEOGRAPLY, 2014-2020
TABLE 12 WORLD FROZEN FOOD REVENUE BY GEOGRAPHY, 2014-2020 ($MILLION)
TABLE 13 EUROPE FROZEN FOOD MARKET REVENUE BY PRODUCT TYPE, 2014-2020 ($MILLIONS)
TABLE 14 NORTH AMERICA FROZEN FOOD MARKET REVENUE BY PRODUCT TYPE, 2014-2020 ($MILLIONS)
TABLE 15 ASIA PACIFIC FROZEN FOOD MARKET REVENUE BY PRODUCT TYPE, 2014-2020 ($MILLIONS)
TABLE 16 LAMEA FROZEN FOOD REVENUE BY PRODUCT TYPE, 2014-2020 ($MILLIONS)
TABLE 17 SNAPSHOT OF ARYZTA A.G.
TABLE 18 SNAPSHOT OF GENERAL MILLS INCORPORATION
TABLE 19 SNAPSHOT OF KRAFT FOODS GROUP INC. .
TABLE 20 SNAPSHOT OF AJINOMOTO INC.
TABLE 21 SNAPSHOT OF CARGILL INCORPORATED
TABLE 22 SNAPSHOT OF EUROPASTRY S.A.
TABLE 23 SNAPSHOT OF KELLOGG COMPANY
TABLE 24 SNAPSHOT OF NESTLE S.A.
TABLE 25 SNAPSHOT OF JBS S.A.
TABLE 26 SNAPSHOT OF FLOWER FOODS FIG. 1 TOP IMPACTING FACTORS
FIG. 2 TOP INVESTMENT POCKETS
FIG. 3 TOP WINNING STRATEGIES (IN PERCENTAGE)
FIG. 4 TOP WINNING STRATEGIES BY CATEGORY (IN PERCENTAGE)
FIG. 5 PORTERS FIVE FORCE MODEL
FIG. 6 VALUE CHAIN MODEL OF FROZEN FOOD MARKET
FIG. 7 FROZEN READY TO EAT ADDITIVES MARKET
FIG. 8 MARKET SHARE ANALYSIS, 2014
FIG. 9 WORLD RISE IN GDP, 2008-2014
FIG. 10 URBANIZATION IN DEVELOPING ECONOMIES
FIG. 11 EXPENDITURE BY AMERICANS ON AWAY FROM HOME FOOD AS A PERCENTAGE OF OVERALL FOOD EXPENSE
FIG. 12 PER CAPITA SPENDING BY AMERICANS ON FROZEN READY MEALS, 2007-2013
FIG. 13 INCREASE IN NUMBER DOMINOS PIZZA OUTLETS IN INDIA(1995-2015)
FIG. 14 INCREASE IN NUMBER OF FAST FOOD OUTLETS IN AUSTRALIA(2010-2015)
FIG. 15 BAKERY AND FAST FOOD PRODUCTS AS A PERCENTAGE OF OVERALL MARKET IN WESTERN EUROPE
FIG. 16 FROZEN FRUITS AND VEGETABLE MARKET BY SALES VALUE
FIG. 17 U.S. POTATO USAGE
FIG. 18 WORLD FROZEN POTATO IMPORTS
FIG. 19 SALES OF MACDONALD INDIA
FIG. 20 FROZEN FOOD RETAIL DESTRIBUTION
FIG. 21 ECOMMERCE SHARE OF UK GROCERY SPENDING
FIG. 22 ONLINE PURCHASE INTENT OF CONSUMERS IN NEXT SIX MONTHS
FIG. 23 MARKET SHARE OF BRANDED FROZEN FOOD COMPANIES IN INDIA
FIG. 24 SALES OF ARYZTA A.G.BY GEOGRAPHY (%), 2014
FIG. 25 SALES OF ARYZTA A.G. BY BUSINESS SEGMENT (%), 2013
FIG. 26 SWOT ANALYSIS OF ARYZTA A.G.
FIG. 27 REVENUE OF GENERAL MILLS INCORPORATION, 2012-2014, $MILLION
FIG. 28 REVENUE OF GENERAL MILLS INCORPORATION BY BUSINESS SEGMENT (%), 2014
FIG. 29 REVENUE OF GENERAL MILLS INCORPORATION BY GEOGRAPHY (%), 2014
FIG. 30 SWOT ANALYSIS OF GENERAL MILLS INCORPORATION
FIG. 31 NET SALES OF KRAFT FOODS GROUP INC., 2012-2014, $MILLION
FIG. 32 NET SALES OF KRAFT FOODS GROUP INC. BY BUSINESS SEGMENT (%), 2014
FIG. 33 NET SALES OF KRAFT FOODS GROUP INC. BY GEOGRAPHY (%), 2014
FIG. 34 SWOT ANALYSIS OF KRAFT FOODS GROUP INC.
FIG. 35 NET SALES OF AJINOMOTO CO. INC., 2012-2015, $MILLION
FIG. 36 NET SALES OF AJINOMOTO CO. INC. BY BUSINESS SEGMENT (%), 2014
FIG. 37 NET SALES OF AJINOMOTO CO. INC. BY GEOGRAPHY (%), 2013
FIG. 38 SWOT ANALYSIS OF AJINOMOTO CO. INC.
FIG. 39 SALES OF CARGILL INCORPORATED, 2013-2015, $MILLION
FIG. 40 SALES OF CARGILL INCORPORATED BY BUSINESS SEGMENT (%), 2014
FIG. 41 SALES OF CARGILL INCORPORATED BY GEOGRAPHY (%), 2014
FIG. 42 SWOT ANALYSIS OF CARGILL INCORPORATED
FIG. 43 NET SALES OF EUROPASTRY S.A., 2010-2012, $MILLION
FIG. 44 NET SALES OF EUROPASTRY S.A.BY BUSINESS SEGMENT (%), 2012
FIG. 45 NET SALES OF EUROPASTRY S.A. BY BUSINESS SEGMENT (%), 2012
FIG. 46 NET EXPORTS OF JBS S.A. BY GEOGRAPHICAL SEGMENT (%), 2013
FIG. 47 NET SALES OF JBS S.A.BY GEOGRAPHY (%), 2013
FIG. 48 SWOT ANALYSIS OF JBS S.A.FOODS
FIG. 49 NET SALES OF KRLLOGG COMPANY 2011-2013, $MILLION
FIG. 50 NET SALES OF KELLOGG COMPANY BY BUSINESS SEGMENT (%), 2013
FIG. 51 NET SALES OF KELLOGG COMPANY BY GEOGRAPHY (%), 2013
FIG. 52 SWOT ANALYSIS OF KELLOG COMPANY
FIG. 53 NET SALES OF NESTLE S.A., 2011-2014, $MILLION
FIG. 54 SWOT ANALYSIS OF NESTLE S.A.
FIG. 55 NET SALES OF FLOWERS FOODS , 20012-15, $MIILLION
FIG. 56 SWOT ANALYSIS OF FLOWER FOOD
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