Originally published on Technavio:Analysis of the Frozen Food Market Across Regions - Europe, North America, APAC, South America, Middle East, and Africa - Covering US, Japan, China, Germany, and UK - Estimated Size and Forecast for 2023-2027

Forecasted Growth of the Frozen Food Market
The frozen food market is anticipated to witness a growth of USD 132.77 billion during the period between 2022 and 2027, with a projected Compound Annual Growth Rate (CAGR) of 7.73%. In 2017, the US dominated the market with the largest share, anticipating an annual revenue of USD 53.31 billion. This comprehensive report on market trends and analysis delves into industry forecasts, categorizing products into segments such as frozen ready meals, frozen meat and poultry, frozen fish and seafood, frozen fruits and vegetables, among others. It also considers distribution channels, both offline and online, and explores geographical regions including Europe, North America, APAC, South America, and the Middle East and Africa. The analysis encompasses market size, historical data (2017-2021), and future forecasts based on value in USD billion for each segment.

Market Analysis
The expansion of retail outlets offering frozen food is a key driver for market growth. The retail landscape's expansion and the increasing availability of products through diverse distribution formats represent emerging trends in the European products market. The organized retail sector is witnessing significant growth, marked by the increasing presence of supermarkets, hypermarkets, and specialty stores worldwide. These organized retailers predominantly offer products like frozen fish and seafood, frozen meat and poultry, and frozen fruits and vegetables. The substantial increase in the expansion of retail outlets offering frozen food is expected to be a major factor driving market growth and trends.

Major Trends
Dominance of Product Types in the Market

The frozen ready meals segment, valued at USD 63.57 billion in 2017, claimed the largest share. Frozen food, covering complete meals such as pizza, pasta, croissants, etc., is popular for its convenience, though it has a high sulfur content that can impact blood pressure. To cater to health-conscious consumers, companies are expanding their frozen ready meal options. For instance, Conagra Brands, Inc. introduced new frozen meals like Four Meat Pizza and Sesame Chicken with Zoodles in June 2021. Similar efforts are seen in September 2022, with Prasuma expanding its range to attract younger customers. Key global vendors include Nomad Foods, Nestle, and Tyson Foods. The availability of diverse options is expected to influence segment growth.

Frozen Food Market Size

For comprehensive details on other segments, download the sample report here.

North America's Prominent Role in the Market
North America is estimated to contribute 44% to the global market's growth during the forecast period. Another region making significant contributions is Europe, with major markets including the UK, Germany, and Spain. The European market's growth is fueled by vendor consolidations, innovative marketing, and product premiumization. For instance, Nomad Foods acquired Fortenova Group's frozen food business for USD 637 million in September 2021. Some vendors, like Young Seafood, focus on marketing campaigns to enhance cooking skills. The Western European market is expected to grow with increased product innovation and launches by vendors like Nomad Foods and Young Seafood. However, challenges lie ahead, with rising obesity levels prompting consumers to seek lower-calorie options. This preference for low-calorie foods could lead to reduced consumption due to higher calorie content.

To Learn deeper into this report , View Sample PDF
The market exhibits a fragmented nature, featuring significant players such as Ajinomoto Co. Inc., Aryzta AG, Conagra Brands Inc., Dr. August Oetker Nahrungsmittel KG, and General Mills Inc. The growth analysis report provides detailed analyses of the competitive landscape, offering information on 15 market companies, including 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.

Segment Overview
This market forecasting report predicts revenue-based market growth at global, regional, and country levels. It provides an analysis of the latest trends and growth opportunities from 2017 to 2027.

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